If you’ve been following Rockies Venture Club for a while, you know us as early-stage investors focused on innovative startups with strong exit potential. We’ve traditionally followed a classic venture capital model in building our portfolio. Over the past two years, however, we’ve sharpened that focus. Today, we prioritize companies with credible near-term exit paths.
If a company has no exit strategy, it’s an easy “no.” And while an 8+ year horizon can still be attractive, those deals now move lower in our selection process unless they demonstrate something truly exceptional. Our goal is simple: align capital with disciplined pathways to liquidity.
This month, I want to share something a little different.
I’m writing to you from Panama, where Drew Tulchin, our partner at New Mexico Angels, sent me a deal he thought deserved attention. I’ll admit—I was skeptical at first. A Panama-based company, even from a trusted referral, wasn’t an obvious fit. But after speaking with Dan Adelman of Taso Group, my view changed quickly.
Dan isn’t a beachside hobbyist. He’s a former Canadian investment advisor who has spent more than a decade building a profitable, multi-site hotel platform across Panama and Costa Rica. The company operates with margins that would impress Hilton and maintains less than 50% leverage across its properties. This isn’t speculative real estate—it’s an operating business with real performance metrics.
Structurally, this is a startup-style investment with a defined exit plan. Dan is targeting a liquidity event in under five years, with a projected 5x return, alongside annual dividend distributions of approximately 10% of invested capital. Immediate cash flow. Modest leverage. Experienced leadership. A strong brand and repeatable operating model. It checks many of the boxes I look for personally.
I’d like you to see it for yourself.
If you’re an investor—member or not—join us Wednesday at Foley Lardner LLP in Denver for our RVC Investor Forum, followed by a happy hour. Dan will present alongside two other companies that also offer shorter paths to exit. I’m genuinely curious how you’ll respond to this shift in profile.
We’ll also review our “deals in play”—companies that previously pitched and have now completed due diligence and negotiations. If you missed their original presentations, this is an opportunity to evaluate them with fresh eyes and decide whether participation makes sense for you.
The venture landscape is evolving quickly. I’ve been spending time studying how AI is reshaping valuation models, especially in traditional SaaS. Over the next few years, I believe all of us will need to rethink how—and where—we deploy capital. Some companies that once looked like certain home runs may face compression. At the same time, new categories of opportunity are emerging.
I hope you’ll join us as we continue refining RVC’s investment discipline—seeking strong companies, clearer exits, and meaningful returns for our investor community.
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