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20VC: The Ultimate Episode For Emerging Managers: How To Determine How Big A Fund To Raise, What Is The Right Closing Strategy With LPs & Why We Will Not See The Eradication of Pre-Seed with John Fein, Founder & Managing Partner @ Firebrand Ventures

The Twenty Minute VC: Venture Capital | Startup Funding | The Pitch

Release Date: 10/07/2019

20VC: 8VC’s Joe Lonsdale on How To Foster Contrarian Thinking Within Venture Partnerships, Why The Best VCs Are Company Builders & Why It Is Not Possible To Build Multi-Billion Dollar Companies and Have Worklife Balance show art 20VC: 8VC’s Joe Lonsdale on How To Foster Contrarian Thinking Within Venture Partnerships, Why The Best VCs Are Company Builders & Why It Is Not Possible To Build Multi-Billion Dollar Companies and Have Worklife Balance

The Twenty Minute VC: Venture Capital | Startup Funding | The Pitch

is a General Partner @ and in the past has invested in many notable companies including Wish, Oculus, Oscar and Guardant Health. As a result, in both 2016 and 2017, Joe was the youngest member of the Forbes 100 Midas List. Prior to 8VC, Joe co-founded Palantir, one of the world's most impactful multi-billion dollar software companies. Joe also co-founded and serves as Chairman @ Addepar, which has over $1.8 trillion managed on its wealth management technology platform. If that was not enough, Joe is also a founder of ,  and . In Today’s Episode You Will Learn: ...

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20VC: Biggest Lessons From Opendoor's Scaling Journey, How To Implement Systems for Growth & The Right Way To Structure Customer Discovery Processes with Julia DeWahl, Angel Investor show art 20VC: Biggest Lessons From Opendoor's Scaling Journey, How To Implement Systems for Growth & The Right Way To Structure Customer Discovery Processes with Julia DeWahl, Angel Investor

The Twenty Minute VC: Venture Capital | Startup Funding | The Pitch

is one of the rising stars of the Silicon Valley angel investor community with a portfolio including the likes of Linear (Sequoia-backed), Modern Fertility (USV backed) and Primer (Founders Fund backed). Prior to angel investing Julia was one of the first 10 employees at Opendoor seeing their hyper-growth first hand in many different roles from Head of Seller Experience to being General Manager of Pheonix & City Operations. Before Opendoor, Julia spent 3 years as a consultant at Bain. If that was not enough, Julia is also an avid cyclist and is setting up a women's cycling apparel line...

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20VC: Oren Zeev on Why Diversification Is Overrated, The Downside of Thematic Investing, Making Quality Decisions In Uncertain Conditions & Why He Has No Reserves Allocation  show art 20VC: Oren Zeev on Why Diversification Is Overrated, The Downside of Thematic Investing, Making Quality Decisions In Uncertain Conditions & Why He Has No Reserves Allocation

The Twenty Minute VC: Venture Capital | Startup Funding | The Pitch

is the Founding Partner @ , one of the best and most under the radar firms in the early stage Silicon Valley landscape. Over the past decade, Oren has backed the likes of TripActions, Tipalti, Audible, Houzz, Chegg and Hippo Insurance to name a few. Prior to crushing it with Zeev Ventures, Oren spent 12 years as a General Partner @ Apax Ventures, starting in Israel and then moving to the US where he headed the Technology Practice of Apax and the Silicon Valley office. In Today’s Episode You Will Learn: 1.) How Oren made his way into the world of venture with Apax and how that led to...

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20VC: How Fundraising For Funds Has Changed in The World of COVID, The Benefits of Managers Selling Part of Their GP & How To Think Through Your “Minimum Viable Fund Size” with Lo Toney, Founding Managing Partner @ Plexo Capital show art 20VC: How Fundraising For Funds Has Changed in The World of COVID, The Benefits of Managers Selling Part of Their GP & How To Think Through Your “Minimum Viable Fund Size” with Lo Toney, Founding Managing Partner @ Plexo Capital

The Twenty Minute VC: Venture Capital | Startup Funding | The Pitch

is the Founding Managing Partner @ , a very unique firm making both direct investments and fund investments. They have invested in Precursor, Boldstart, Female Founders Fund and WorkBench on the fund side and then PlayVS, Replicated and StyleSeat on the direct side. Prior to Plexo, Lo was a Partner @ GV (Google Ventures) and before that was a Partner with Comcast Ventures where he led the Catalyst Fund. Before venture Lo was an operator enjoying exec roles at Zynga, Nike and eBay. In Today’s Episode You Will Learn: 1.) How Lo made his way into the world of venture with GV and...

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20VC: Andrew Wilkinson on Building The Berkshire Hathway of Tech, Sustainable vs Unsustainable Growth and The Relationship Between Money and Freedom show art 20VC: Andrew Wilkinson on Building The Berkshire Hathway of Tech, Sustainable vs Unsustainable Growth and The Relationship Between Money and Freedom

The Twenty Minute VC: Venture Capital | Startup Funding | The Pitch

is the Managing Partner @ , a vehicle that buys, builds and invests in wonderful internet companies. Within their family of companies is Dribble; home to the world's best design professionals; MetaLab and Supercast to name a few. Tiny does also make venture investments in the likes of Superhuman, SpaceX, Pitch and Buffer. Today Andrew oversees a group of companies with over 300 employees and tens of millions in revenue. In Today’s Episode You Will Learn: 1.) How Andrew made his way from founding a design agency in Canada to starting Tiny and building a family of companies with...

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20VC: Craft Ventures’ David Sacks on How To Assess Founder Psychology, How To Accurately Evaluate CAC, Burn and Churn & What Makes The Very Best Startup Boards show art 20VC: Craft Ventures’ David Sacks on How To Assess Founder Psychology, How To Accurately Evaluate CAC, Burn and Churn & What Makes The Very Best Startup Boards

The Twenty Minute VC: Venture Capital | Startup Funding | The Pitch

is the Co-Founder @ , one of Silicon Valley's leading early-stage funds with David's portfolio including the likes of Facebook, Tesla, SpaceX, Palantir, Affirm, Airbnb, Slack and Bird to name a few. David started his career in tech as the first product leader and COO @ Paypal, growing payment volume from $0-$500M per month, leading to their $1.5Bn acquisition by eBay. David then founded Geni.com, creating a family tree for the whole world, the company was acquired 3 years later by MyHeritage. David then founded Yammer, the secure solution for internal corporate communication and...

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20VC: Substack Founder Chris Best on The Future of Public Journalism, Why The Economics Of Attention Have Been Flipped & Why Micropayments For Content Will Not Work show art 20VC: Substack Founder Chris Best on The Future of Public Journalism, Why The Economics Of Attention Have Been Flipped & Why Micropayments For Content Will Not Work

The Twenty Minute VC: Venture Capital | Startup Funding | The Pitch

is the Founder & CEO @ , the company that makes it simple for a writer to start a paid newsletter. To date, Chris has raised over $17M in funding from the likes of a16z, Y Combinator, Twitch CEO Emmett Shear and Zynga Co-Founder Justin Waldron to name a few. Prior to founding Substack, Chris was the Co-Founder & CTO @ Kik, letting users connect with friends, groups and the world around them. The company raised over $220M in funding from Spark, Tencent and USV to name a few. In Today’s Episode You Will Learn: 1.) How Chris made his way into the world of startups and came to...

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20VC: Lightspeed Partner, Merci Victoria Grace on The Future of Collaboration Tools, Bundling vs Unbundling, Synchronous vs Asynchronous & What It Means To Productise The S*** Out of Venture show art 20VC: Lightspeed Partner, Merci Victoria Grace on The Future of Collaboration Tools, Bundling vs Unbundling, Synchronous vs Asynchronous & What It Means To Productise The S*** Out of Venture

The Twenty Minute VC: Venture Capital | Startup Funding | The Pitch

is a Partner @ , one of the valley's leading venture firms of the last decade with a portfolio including the likes of Snapchat, Mulesoft, Affirm, AppDynamics and more. As for Merci, prior to entering the world of venture, Merci spent 3 years at Slack including as Head of Growth where she grew the growth team to over 50 people and drove DAU's from 500K to 5M in under 2 years. Merci is also the Founder of Women In Product a global community of incredible women in product management. In Today’s Episode You Will Learn: 1.) How Merci made her way into the world of venture...

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20VC: How To Scientifically Measure Product-Market Fit, How To Efficiently and Accurately Segment Users Into Cohorts, Why Investors Analysing CAC's at Pre-Seed Is Not Useful & How To Determine Between Customer Feedback to Accept vs Reject with Daniel Eric show art 20VC: How To Scientifically Measure Product-Market Fit, How To Efficiently and Accurately Segment Users Into Cohorts, Why Investors Analysing CAC's at Pre-Seed Is Not Useful & How To Determine Between Customer Feedback to Accept vs Reject with Daniel Eric

The Twenty Minute VC: Venture Capital | Startup Funding | The Pitch

is the Founder & CEO @ , the startup that allows you to find product-market fit faster than ever by collecting structured user feedback to measure PMF on an ongoing basis. Daniel has raised funding from the likes of David Sacks @ Craft Ventures, Todd Goldberg and Superhuman Founder, Rahul Vohra and then also Brianne Kimmel @ Worklife Ventures. Prior to founding Viable Fit, Daniel was VP Engineering @ Eaze and before that spent time as CTO @ Getable and then also had a front-row seat for the hyper-growth of Yammer with a 3-year stint there. In Today’s Episode You Will Learn: 1.)...

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20VC: It’s Time To Talk About Drinking; How To Stop, The Impact It Has, How Life Changes Post-Alcohol and The Biggest Misconceptions on Drinking with Ryan Petersen, Founder @ Flexport, Justin Kan, Founder @ Twitch, Matteo Franceschetti, Founder @ Eight  show art 20VC: It’s Time To Talk About Drinking; How To Stop, The Impact It Has, How Life Changes Post-Alcohol and The Biggest Misconceptions on Drinking with Ryan Petersen, Founder @ Flexport, Justin Kan, Founder @ Twitch, Matteo Franceschetti, Founder @ Eight

The Twenty Minute VC: Venture Capital | Startup Funding | The Pitch

Ryan Petersen is the Founder & CEO @ Flexport, the operating system for global trade with over $1.3Bn in funding from the likes of Softbank, Founders Fund, DST, GV and First Round to name a few. Justin Kan is the Founder @ Atrium and Twitch (acq by Amazon for $1Bn). Justin is also a prolific angel with a portfolio including the likes of Scale AI, Digits, Cruise and Triplebyte to name a few. Matteo Franceschetti is the Founder & CEO @ Eight Sleep, the #1 Smart Mattress, designed to help you fall asleep faster and stay asleep. To date, Matteo has raised over...

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John Fein is the Founder and Managing Partner @ Firebrand Ventures, one of the leading early-stage funds in the midwest with a portfolio including the likes of ScaleFactor, Replica, Dwolla and more fantastic companies. As for John, prior to founding Firebrand, he was the Managing Director of Techstars based in Kansas City and before that spent close to 9 years at OptumRx where he managed multi-billion dollar large-scale programs for the $15B pharmacy benefit manager division of UnitedHealth Group.

In Today’s Episode You Will Learn:

1.) How John made his way into the world of venture from scaling a pharmaceuticals business to almost $2Bn in revenue and how that led to founding Firebrand?

2.) What was it like for John raising the first fund for Firebrand with no existing network of LPs or high-net-worth individuals? How did John approach his closing strategy? How did he decide the amount of money to raise for the fund? How did Techstars Founder, David Cohen change and impact his thinking here? Was John surprised by how long the fund took to raise?

3.) What does John know now that he wishes he had known at the beginning of the fundraise for the first fund? Does it ever get easier? What does John believe are the biggest challenges in managing your own fund? What does he do to mitigate them? How does running your own fund differ from operating in a venture partnership?

4.) "Seed" is so confused in meaning today so what does "seed stage" really mean to John? Does John agree with Harry that we are seeing the eradication of the pre-seed stage? Where does John believe is the ideal insertion point? Does John believe that ownership can be built over time? How does John think about reserve allocation?

5.) How does John think about the relationship-building process with founders? Is John worried by the compressed fundraising timelines we are seeing today? What can investors do to build trust with founders quickly? What signs impress John in the early days of getting to know the founder? What are some common red flags for John?

Items Mentioned In Today’s Show:

John's Fave Book: Reboot: Leadership and the Art of Growing Up by Jerry Colonna

John’s Most Recent Investment: The Minte

As always you can follow HarryThe Twenty Minute VC and John on Twitter here!