Fireside with a VC
By Andrew Romans
Fireside with a VCJun 01, 2020
#102, Revolution Ventures, Tige Savage cofounded w/ Steve Case
Episode #102 Fireside with a VC speaking with Tige Savage who cofounded Revolution with Steve Case, founder of AOL – America Online, one of the biggest internet companies in history reaching a peak market cap of $200bn dominating email, internet connectivity, online news, and chat. Tige discusses all things venture capital with a wealth of multi-decade experience covering a wide area of topics on how to run a high-performing VC fund year over year and best practices on investing, governance, legals, portfolio construction, sectors, overall strategy, and today’s exit market.
Discussing the organization of Revolution with 1) Revolution Rise of the Rest – their $150m pre-seed fund, 2) Revolution Ventures – the $150m VC fund Tige manages with a concentrated 15 portfolio companies per fund, and 3) Revolution Growth which continues to invest in Series B and beyond. Discussed the pioneering thesis of investing across the US rather than being concentrated in the Silicon Valley, New York, Boston or other highly evolved tech corridors and why Washington DC matters.
Find the full episode on YouTube: https://youtu.be/FzartNaPUoY.
Find this and all full episodes for Fireside with a VC on your favorite podcast platform here: https://podcasters.spotify.com/pod/show/FiresideVC
https://www.linkedin.com/in/tigesavage/
https://www.7bc.vc/
https://www.linkedin.com/in/romans/
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#101, Andrew Romans on American Dreams Show with Alen Olsen
Fireside with a VC episode #101, Andrew Romans on The American Dreams Show with Alan Olsen discussing the future of venture capital covering Seed to Late Seed & Series A and Late Stage Growth VC and what has changed over the past few decades.
Alan Olsen is a fixture in Silicon Valley and cofounder of GROCO Family Office Advisors, Advisors to the Ultra Affluent and organizer of Legacy Builders. We Protect Our Clients’ Lifestyle & Resolve Complex Tax & Wealth Concerns
https://groco.com/family-office-services/
https://www.linkedin.com/in/alanolsen1960/
Contact us if you want to join Alan and his group of 50 family offices in Silicon Valley on May 15th.
Find the full episode on YouTube: https://youtu.be/MWoyTKUDskQ.
Find this and all full episodes for Fireside with a VC on your favorite podcast platform here: https://podcasters.spotify.com/pod/show/FiresideVC
https://www.7bc.vc/
https://www.linkedin.com/in/romans/
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#100, Calculating valuations & how much capital to raise, Vibhor Rastogi, Global Head of AI investments at Citi Ventures
Fireside with a VC episode #100 speaking with Vibhor Rastogi, Global Head of AI investments at Citi Ventures, discussing how to determine startup valuations and how much capital a startup should raise. How much to raise should be driven by enough time runway to achieve the next key milestone to unlock the next funding round - be that product, revenue, users or other measurable business milestone KPIs. How the market is changing. Expect to need at least enough time 1) to reach the next business milestone and 2) to raise the next funding round. Expect at least 2 quarters to raise the next funding round in today’s market. How much dilution should a startup expect to take from each funding round ranging from pre-seed to late seed, Series A, B, C, D? How to tie expected exit valuations to today’s valuation? What can a realistic exit be in a good scenario and a bad scenario? What are expected exit multiples and discounted to today’s valuation with the consideration of dilution from future funding rounds? How to calculate future dilution or reserve strategies for various ownership target percentages. Corporate Venture Capital (CVC) best practices at Citi Ventures – Citigroup. How to manage conflicts of interest as a strategic investor compared to a pure financial investor. How Citi Ventures can add value to startups across industry verticals.
Find the full episode on YouTube: https://youtu.be/T7yffG5sJ3E.
Find this and all full episodes for Fireside with a VC on your favorite podcast platform here: https://podcasters.spotify.com/pod/show/FiresideVC
https://www.citi.com/ventures/
https://www.linkedin.com/in/vibhorrastogi/
https://www.7bc.vc/
https://www.linkedin.com/in/romans/
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#99, Using retirement IRA accounts to invest in VC funds w/ Matthew Calhoun at Equity Trust
Fireside with a VC episode #99 speaking with Matthew Calhoun, director at Equity Trust, formerly Midland Trust Company, discussing the benefits of investing into alternative assets such as venture capital funds using your self-directed IRA dollars. What is a Self-Directed IRA and what is different from other retirement accounts? What are the requirements, terms, and cost for this, and how long does it take? Help boost your retirement with this wealth-building combination of tax-optimized retirement accounts maximizing the potential of higher returns with less volatility by adding private market venture capital investments to your tax-advantaged account.
We are happy to introduce our listeners to Matt or contact him directly: mcalhoun@midlandtrust.com.
Find the full episode on YouTube: https://youtu.be/o9FslKnPrmU.
Find this and all full episodes for Fireside with a VC on your favorite podcast platform here: https://podcasters.spotify.com/pod/show/FiresideVC
https://midlandtrust.com/
https://www.linkedin.com/in/matthew-calhoun-51828687/
https://www.7bc.vc/
https://www.linkedin.com/in/romans/
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#98, How much funding to raise at what valuation with Eric Ver Ploeg, Founding Partner, Tunitas Ventures
Fireside with a VC episode #98 speaking with Eric Ver Ploeg, Founding Partner of Tunitas Ventures about key data and trends in the US tech Series A fundraising environment as well as specifics about how much cash funding a startup should raise at pre-Seed, Late-Stage Seed and Series A as well as the many other considerations with regards to terms and legal structures do’s and don’ts.
Eric Ver Ploeg, is a VC veteran and runs Tunitas Ventures a focused seed stage investing firm that assists portfolio companies raise their Series A. Eric shares research and data on how the ratio of San Francisco Bay Area startups have a higher graduation rates of completing a Series A than startups in the rest of the country and how this multiple has been rising in recent years. Check out a link to a blogpost Eric released on this topic today: http://rb.gy/3fzl3p.
https://tunitas.vc/
https://www.linkedin.com/in/ericvp/
https://www.linkedin.com/in/romans/
Find the full episode on YouTube: https://youtu.be/TUkan6oIbrs.
Find this and all full episodes for Fireside with a VC on your favorite podcast platform here: https://podcasters.spotify.com/pod/show/FiresideVC
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#97, The future of AI with Igor Jablokov, CEO of Pryon $159m VC funding
Fireside with a VC episode #97 speaking with Igor Jablokov, CEO of Pryon $159m VC funding and founder and CEO of Yap, which Igor sold to Amazon which became the nucleus of Amazon’s Alexa & Fire TV. Pryon was the code name for Alexa. Discussing the evolution of humanity with AI, risks of AI, what we need or should expect with regulations, where innovation is happening, what are the OSI layers of the AI world, how the Fortune 500 will adopt or fail to adopt true AI, other relevant key industries ranging from nuclear power plants to healthcare and the military.
Find the full episode on YouTube: https://youtu.be/N0H-zb5I72A.
Find this and all full episodes for Fireside with a VC on your favorite podcast platform here: https://podcasters.spotify.com/pod/show/FiresideVC
https://www.linkedin.com/in/ijablokov/
https://www.linkedin.com/in/romans/
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#96, Legal terms, governance & valuations for up, flat & down rounds with Fenwick’s Kristine Di Bacco
Fireside with a VC episode #96 speaking with Kristine Di Bacco, Partner at law firm Fenwick, discussing tough terms for startups in the context of flat and down rounds as well as more punishing terms for startups. What is common and expected in today’s market for up, flat, down rounds as well as convertible notes and SAFEs? Planning today’s current round in a way to set a precedent for the next funding round balancing valuations and terms. A deep dive on the difference between pre- and post-money SAFEs vs convertible notes, QSBS, etc. What to expect for typical governance, board of directors construction, etc. across multiple financings for startups. Secondaries in the bull market leading up the peak in 2021 compared to today’s 2024 market and what to expect for funding and exits in 2024 and beyond. How she cofounded and built Fenwick’s New York City office and is now back in Silicon Valley. Understanding differences and similarities in the New York compared to Silicon Valley ecosystems.
Find the full episode on YouTube: https://youtu.be/Q6eV6oqg2Is.
Find this and all full episodes for Fireside with a VC on your favorite podcast platform here: https://podcasters.spotify.com/pod/show/FiresideVC
https://www.linkedin.com/in/kristine-di-bacco-72b35b/
https://www.linkedin.com/in/romans/
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Episode #95, M12 Microsoft’s Venture Fund, Peter Berg, Managing Director
Episode #95, Peter Berg, one of two Managing Directors leading M12 Microsoft’s Venture Fund, discusses with Andrew Romans on Fireside with a VC how Microsoft is investing in early-stage startups in B2B SaaS, AI, web3/crypto, and gaming. How the $2.776 trillion dollar conglomerate can add value to startups in a way no other VC can match.
Find this and all full episodes for Fireside with a VC on your favorite podcast platform here:
https://podcasters.spotify.com/pod/show/FiresideVC.
Find this episode on YouTube: https://youtu.be/qZ2MIYFHEvU.
https://www.linkedin.com/in/peterberg/
https://www.linkedin.com/in/romans/
https://www.7bc.vc/
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Episode #94, Business with China now and in 2024
Episode #94, Why is China the way it is, what’s happened, and how is China interacting with the rest of the world from a startup & VC perspective? Jonathan Bench, a China expert, practicing lawyer in the region, and active for over 20 years in the market, discusses with Andrew Romans on Fireside with a VC:
• What led up to the decoupling with China and how North American, European and Japanese companies will continue to do business with China?
• What led up to the current situation on a timeline of developments and ultimately Covid?
• The 5x+ increase in shipping costs and the impact of factory shutdowns in China during Covid on western minds for the future relationship with China.
• Supply chain establishment, management and support in China plus Malaysia, Singapore, Taiwan, Vietnam, and Mexico and western efforts to diversify and challenges to get out of China.
• How China is buying land and establishing factories in Mexico and how China is everywhere globally?
• How Chinese entrepreneurs are forced to operate within the communist party system and how to establish legitimacy with the rest of the outside world.
• Growth of the legal system in China with US companies now winning in the Chinese legal system which points to the growing legitimacy of the evolving Chinese legal system.
• Examples of Chinese companies trying to play by the rules and achieve legitimacy.
• The different cultural concepts of a signed contract being a final agreement or a stepping stone to an ongoing relationship where key terms are continuously changed
• What are the opportunities for the west to do business in China?
Find this and all full episodes for Fireside with a VC on your favorite podcast platform here: https://podcasters.spotify.com/pod/show/FiresideVC.
Find this episode on YouTube: https://youtu.be/ZtTrik6517E.
Pix from Andrew Romans’ trips to China: https://photos.app.goo.gl/eSxTKBLnJNpBcKvu6.
Andrew Romans’ books published in Chinese:
The Entrepreneurial Bible to Venture Capital (Chinese Edition): https://rb.gy/mwxp1p
Masters of Corporate Venture Capital (Chinese Edition): https://shorturl.at/dgwBJ
https://www.linkedin.com/in/benchjonathan/
https://harris-sliwoski.com/our-team/jonathan-bench/
https://www.linkedin.com/in/romans/
https://www.7bc.vc/
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Episode #93, VC Panel Part Questions from Audience @7BC San Francisco Event Nov. 14, 2023
Episode #93, VC Panel Part Questions from Audience @7BC San Francisco Event Nov. 14, 2023
VC Panel
*Benjamin D. Black, Co-founder and Managing Director, Akkadian Ventures
*Victoria Cheng, Partner, PruVen Capital
*Carolin Funk, Partner, Blue Bear Capital
*Vibhor Rastogi, Global Head of AI/ML/Data Investments, Citi Ventures
*Ben Levy, Cofounder, BootstrapLabs
*Andrew Romans, General Partner, 7BC Venture Capital, Moderator
Confidential videos available for 7BC Portfolio Company 7-Minute Presentations
Ryan Welsh, cofounder & CEO, Kyndi - generative AI answer engine for enterprises ($42.8m funding to date)
Delivering immediate, accurate, and trusted answers to enterprise users with the power of large language models.
John Green, cofounder & CEO, Nada - Unlocking wealth with real-estate. Real estate FinTech ($11.4m funding to date)
Nada's platform makes it possible for investors to own a piece of a top city’s home equity market with as little as $100 ("Cityfunds") and for homeowners to cash out home equity without the burden of taking on debt ("Homeshares"). Their platform brings this two-sided market together - delivering access to investors and liquidity to homeowners.
Matthew Speitel, CFO, Umbra - Space and Earth based datasets for your defense, intelligence and analytics solutions. ($125m funding to date)
We design, build, launch, and operate satellites for high resolution Earth observation, new communications capabilities, and exquisite signal monitoring for low cost distribution via an integrated web platform.
Eric Menees, cofounder & CEO, Fynn Credit, Solving America's skilled labor shortage ($11m equity & $25m debt raised to date)
Fynn offers loan services for school students. Their loans are private loans, and they do not have the same terms, repayment options, or rates as those offered through federal loan programs, other private lenders, or school based financing options.
https://www.7bc.vc/https://www.linkedin.com/in/romans/
Join the conversation, leave comments, and tell us what you think about these topics and this episode.
Episode #92, VC Panel Part I @7BC San Francisco event Nov 14, 2023
Episode #92, Part I of the VC Panel at the 7BC Venture Capital San Francisco event Nov 14, 2023 *Benjamin D. Black, Co-founder and Managing Director, Akkadian Ventures *Victoria Cheng, Partner, PruVen Capital *Carolin Funk, Partner, Blue Bear Capital *Vibhor Rastogi, Global Head of AI/ML/Data Investments, Citi Ventures *Ben Levy, Cofounder, BootstrapLabs *Andrew Romans, General Partner, 7BC Venture Capital, Moderator Confidential videos available for 7BC Portfolio Company 7-Minute Presentations Ryan Welsh, cofounder & CEO, Kyndi - generative AI answer engine for enterprises ($42.8m funding to date) Delivering immediate, accurate, and trusted answers to enterprise users with the power of large language models. John Green, cofounder & CEO, Nada - Unlocking wealth with real-estate. Real estate FinTech ($11.4m funding to date) Nada's platform makes it possible for investors to own a piece of a top city’s home equity market with as little as $100 ("Cityfunds") and for homeowners to cash out home equity without the burden of taking on debt ("Homeshares"). Their platform brings this two-sided market together - delivering access to investors and liquidity to homeowners. Matthew Speitel, CFO, Umbra - Space and Earth based datasets for your defense, intelligence and analytics solutions. ($125m funding to date) We design, build, launch, and operate satellites for high resolution Earth observation, new communications capabilities, and exquisite signal monitoring for low cost distribution via an integrated web platform. Eric Menees, cofounder & CEO, Fynn Credit, Solving America's skilled labor shortage ($11m equity & $25m debt raised to date) Fynn offers loan services for school students. Their loans are private loans, and they do not have the same terms, repayment options, or rates as those offered through federal loan programs, other private lenders, or school based financing options. https://www.7bc.vc/https://www.linkedin.com/in/romans/ Join the conversation, leave comments, and tell us what you think about these topics and this episode.
Episode #91, VC Panel Part II @7BC San Francisco event Nov 14, 2023
Episode #91, Part II of the VC Panel at the 7BC Venture Capital San Francisco event Nov 14, 2023 *Benjamin D. Black, Co-founder and Managing Director, Akkadian Ventures *Victoria Cheng, Partner, PruVen Capital *Carolin Funk, Partner, Blue Bear Capital *Vibhor Rastogi, Global Head of AI/ML/Data Investments, Citi Ventures *Ben Levy, Cofounder, BootstrapLabs *Andrew Romans, General Partner, 7BC Venture Capital, Moderator Confidential videos available for 7BC Portfolio Company 7-Minute Presentations Ryan Welsh, cofounder & CEO, Kyndi - generative AI answer engine for enterprises ($42.8m funding to date) Delivering immediate, accurate, and trusted answers to enterprise users with the power of large language models. John Green, cofounder & CEO, Nada - Unlocking wealth with real-estate. Real estate FinTech ($11.4m funding to date) Nada's platform makes it possible for investors to own a piece of a top city’s home equity market with as little as $100 ("Cityfunds") and for homeowners to cash out home equity without the burden of taking on debt ("Homeshares"). Their platform brings this two-sided market together - delivering access to investors and liquidity to homeowners. Matthew Speitel, CFO, Umbra - Space and Earth based datasets for your defense, intelligence and analytics solutions. ($125m funding to date) We design, build, launch, and operate satellites for high resolution Earth observation, new communications capabilities, and exquisite signal monitoring for low cost distribution via an integrated web platform. Eric Menees, cofounder & CEO, Fynn Credit, Solving America's skilled labor shortage ($11m equity & $25m debt raised to date) Fynn offers loan services for school students. Their loans are private loans, and they do not have the same terms, repayment options, or rates as those offered through federal loan programs, other private lenders, or school based financing options. https://www.7bc.vc/https://www.linkedin.com/in/romans/ Join the conversation, leave comments, and tell us what you think about these topics and this episode.
Episode #90, Down rounds & pay-to-pay provisions, raising at a lower valuation
Episode #90, Down rounds & pay-to-pay provisions, raising at a lower valuation on Fireside with a VC
Ben Kern, Partner at Winston & Strawn LLP, corporate securities veteran, discusses the details of how startups raise funding in down rounds at lower valuations than the last funding round as well as more punitive financings that cram down or wipe out existing investors that do not Pay-to-Play wiring capital into the new financing. We discuss the different tools in the tool kit of how these financings are legally structured and what it means to all parties and how to sail through these very choppy waters.
Find the full episode on YouTube: https://youtu.be/0RqBNqLGckQ.
Find this and all full episodes for Fireside with a VC on your favorite podcast platform here: https://podcasters.spotify.com/pod/show/FiresideVC
https://www.linkedin.com/in/benjamindkern/
https://www.linkedin.com/in/romans/
Join the conversation, leave comments, and tell us what you think about these topics and this episode.
Join us in person for the next 7BC San Francisco VC Insight Panel & networking reception November 14th .
Episode #89, Jarred Kessler, CEO, EasyKnock fintech, real-estate tech
Episode #89, Jarred Kessler, CEO, EasyKnock fintech, real-estate tech, 15th largest home owner in the US
- Discussing the dynamics of inflation, interest rates and the volatile US residential real-estate market;
- Running a New York fintech / real-estate startup before, during, and after Covid;
- Raising over $120m of equity funding and $600m of debt financing;
- How they became the 15th largest owner of single residential homes in the US in less than 7 years;
- The Operating Company/Property Company (Opco/Propco) company structure;
- Overseeing high-velocity growth in headcount, acquiring and integrating other companies successfully;
- Managing growth between funding rounds; continuing to innovate product development and service offerings;
- The interesting interplay between credit card debt, interest rates, inflation, the housing market;
- The changing percentage of Americans that qualify for a home mortgage;
- Advice on how to raise VC funding;
- The difference between raising VC vs debt financing;
- Managing growth vs profitability, pushing back on investors, and preparing for fundraising in the next economic cycle;
- Various paths to an exit for a company like EasyKnock
Find the full episode on YouTube: https://youtu.be/qJttkx2KJRA.
Find this and all full episodes for Fireside with a VC on your favorite podcast platform here: https://podcasters.spotify.com/pod/show/FiresideVC
https://www.linkedin.com/in/romans/
Join the conversation, leave comments, and tell us what you think about these topics and this episode.
Join us in person for the next 7BC San Francisco VC Insight Panel & networking reception November 14th .
#88, QSBS not paying tax on capital gains
Episode #88, Everything you need to know about Qualified Small Business Stock (QSBS), the exemption that allows investors in startups or investors in VC funds that invest in startups to NOT pay capital gains tax on the greater of the first $10m of capital gains or 10x the cost basis (what you paid for the stock). A discussion of what qualifies and what does not, how this plays with the amount of funding, the value of the balance sheet at the time of the investment, holding period, how to tack or rollover, SAFEs compared to priced rounds and convertible notes to get the tax exemption, how it applies to founders and not only investors, how to document it and when it does not apply.
Roger Royse is a Silicon Valley career corporate and tax partner at law firm Haynes and Boone.
https://www.linkedin.com/in/rogerroyse/
Find this episode on YouTube: https://youtu.be/j18ziU2fWg0.
Find this and all episodes for Fireside with a VC here: https://podcasters.spotify.com/pod/show/FiresideVC
andrew@7bc.vc
Episode #87, Lessons from new book “Smart Startups” interviews w/ Blue Apron & 17 other VC backed startups
Episode #87 Discussion with Catalina Daniels and James Sherman, authors of Smart Startups: What Every Entrepreneur Needs to Know-Advice from 18 Harvard Business School Founders published today by Harper Business. This book has 18 interviews with a compelling list of founders that all raised VC funding and managed to get to an exit via M&A or IPO. The authors and interviewees can be forgiven for all having gone to Harvard, but they do share their learnings from their experiences founding, raising, building and exiting. We discuss these learnings with the two entrepreneurs and angel authors in this episode of Fireside with a VC.
The discussion covers ideation and coming up with the killer idea, team building comparing solo founders to balanced teams, raising angel and VC funding, execution, pitfalls across the board including the risk of raising too much VC funding, complexities of M&A exits and how to position for success and guard against land mines.
Find this episode on YouTube: https://youtu.be/l8ZeL7CnUvk.
Find this and all episodes for Fireside with a VC here: https://podcasters.spotify.com/pod/show/FiresideVC
Smart Startups: What Every Entrepreneur Needs to Know-Advice from 18 Harvard Business School Founders
Find the book here on Amazon out today: https://a.co/d/dFDHCp0.
andrew@7bc.vc https://www.linkedin.com/in/romans/
Episode #86 Flint Capital investing in Israeli startups coming to the USA
Episode #86 Flint Capital investing in Israeli startups coming to the USA
Fireside with a VC speaking with Andrew Gershfeld at Flint Capital based in Boston and Tel Aviv talking about funding and supporting Israeli startups and helping them grow into large US companies.
Find this episode on YouTube: https://youtu.be/3sEIYeIri_E.
Find this and all episodes for Fireside with a VC here: https://podcasters.spotify.com/pod/show/FiresideVC
Andrew Gershfeld: https://www.linkedin.com/in/andrewger/
andrew@7bc.vc
Episode #85 Building startups on SalesForce – Place RevOps automation and connectivity
Episode #85 Building startups on SalesForce – Place RevOps automation and connectivity
Fireside with a VC talking to Brandon Metcal, CEO of Place, about RevOps (revenue operations) to solve financial forecasting and cash management with sales starting in 2020. Also discussing automating and synchronizing sales to finance, to human resources and other components to streamline SaaS companies that run on SalesForce and now SalesForce CPQ.
Talking about lessons learned from both Place and his previous business where Brandon raised $28m in funding and sold the business making a profit for investors, founders and employees.
We also take a deep dive on how to partner with SalesForce and lessons learned from over 20 years of working within the SalesForce ecosystem.
Place has also carved out a slice from their last funding round for investors on WeFunder to increase the network of support for the company.
Wefunder: https://wefunder.com/placetechnology/
SalesForce AppExchange: https://appexchange.salesforce.com/appxListingDetail?listingId=5e950d92-8476-4461-af88-eea66e55485c (new listing)
RevOps: https://www.placetechnology.com/solutions/revenue-operations (offering)
Place Cash and Burn Podcast, stories of SaaS growth: https://www.placetechnology.com/cash-and-burn-podcast
https://www.linkedin.com/in/metcalf/
Find this episode on YouTube: https://youtu.be/Nt11xrPdKCM.
Find this and all episodes for Fireside with a VC here: https://podcasters.spotify.com/pod/show/FiresideVC
andrew@7bc.vc
#84 Flipping Your Business into the United States w/ Roger Royse
Fireside with a VC discussing flipping your business into a US Delaware C corporation from outside of the US. Many startups and teams are born in Europe, South East Asia, Middle East, Africa, LatAm, Canada and everywhere and need to consider if they should flip to the US and if yes, technically how to do it. Considerations on attracting new investors from the US vs the country in which the business was created as well as tax considerations of flipping early or flipping later. Discussing specific tactics to minimize the tax burden and consequences for existing and new investors as well as founders and early employees.
Roger Royse is a Corporate and Tax Partner at Haynes and Boone, LLP and has decades of experience doing countless flips and venture financings in Silicon Valley. Roger is also the author of best seller 10,000 Startups: Legal Strategies For Startup Success (https://a.co/d/0H0IZ1p) and the host of a podcast of the same name.
Podcast: 10,000 Startups: Legal Strategies For Startup Success:
https://www.linkedin.com/in/rogerroyse/
Find this episode on YouTube: https://youtu.be/VO0y1lK75ag.
andrew@7bc.vc
https://www.linkedin.com/in/romans/
Join the conversation and tell us your view of flipping or not flipping to the US and the best or worst ways to do it.
#83, Aiden software automation & cybersecurity SaaS company for enterprises
Fireside with a VC discussing how technology has evolved from mainframe-dumb terminal architecture to client-server architecture and making sure that all the right software is on each endpoint, making sure each endpoint is configured correctly, quickly, and efficiently, making sure cybersecurity attacks do not happen, and if they do rapidly rebuild from ransomware for new clients, eliminate vulnerabilities, reduce risk, automate application packaging, deployment, and reduce IT headaches. The economics of modern smart IT and keeping all software up to date. Reducing months to weeks for new customers that have been hacked.
The types of vulnerabilities are changing. How Aiden is staying ahead of the puck on what IT thresholds are changing to and how to program alerts and keep organizations in their own redefined compliance thresholds and providing that information to client organizations. Providing visibility of IT business intelligence to the CEO and C-suite.
YouTube: https://youtu.be/C4mcAz7zbHM
Find this episode on all podcast platforms: https://open.spotify.com/show/57V2XYhekz5ETiOwtanWIn?si=a835a3f3b5804cbb.
https://www.meetaiden.com/
info@meetaiden.com
https://www.linkedin.com/in/joshuaeaaron/
andrew@7bc.vc
https://www.linkedin.com/in/romans/
Join the conversation and tell us your view of the future of automation, cyber, smart IT networks, or any of the topics discussed in this episode.
#82, Understanding pre & post SAFEs, convertible notes vs priced rounds with Daniel Zimmermann, Partner, WilmerHale
#82, Understanding pre & post SAFEs, convertible notes vs priced rounds with Daniel Zimmermann, Partner, WilmerHale
Fireside with a VC is hosting a series of discussions on specific legal topics with the best lawyers from Silicon Valley and around the world. This episode is designed to help founders, VCs, advisors and supporters of startups understand everything they need to know and all the moving parts in convertible notes, pre-money and post-money SAFEs compared to priced equity financings. We start out explaining the key parts everyone needs to understand and then quickly get into an in-depth detailed conversation about how important these legal matters are and how it can be the difference between making a great return or not from an investor's perspective and steering clear of icebergs that can sink your startup or have you end up owning much less of your startup on the day of exit.
Daniel Zimmermann is a legendary corporate securities lawyer in Silicon Valley, a Partner at law firm WilmerHale and an absolute experienced expert on this topic.
Legals is something every founder, angel and VC should be an expert on and we are amazed on a daily basis how many investors and founders fail to understand the basics and moving parts, which ones to push for when negotiating and the finer subtleties that normally only come from decades of experience.
Find this episode on all podcast platforms: https://open.spotify.com/show/57V2XYhekz5ETiOwtanWIn?si=a835a3f3b5804cbb.
YouTube: https://youtu.be/pI6J1Q6W6dU
https://www.linkedin.com/in/daniel-zimmermann-lawyer/
https://www.linkedin.com/in/romans/
Join the conversation and tell us your view of the pros and cons of using SAFEs vs convertible notes vs priced rounds or any of the topics discussed in this episode.
#81, Sway Ventures, Brian Nugent, Founding General Partner
Fireside with a VC hosting Brian Nugent, Founding General Partner of Sway Ventures at Professor Romans’ class on VC at Chapman University. Discussing a wide range of topics including:
· Brian’s path to VC from Cisco to startups to venture capital.
· Career advice for junior and senior folks to break into a career in venture capital.
· ESG, women and minorities in venture.
· How venture capital works.
· Each stage of funding from friends and family, pre-seed, late stage seed, series A, B and growth funding rounds and considerations.
· Pros and cons of investing at seed vs growth rounds, ownership targets / expectations for dilution, returns, timing and risk / reward profiles.
· How Sway Ventures adds value.
· Tactics for proprietary deal flow, avoiding bidding wars with other VCs, and delivering value to portfolio companies.
· Primary sources of deal flow.
· Common threads of most successful Sway portfolio companies. What are the characteristics of winning companies?
Find this episode on all podcast platforms: https://open.spotify.com/show/57V2XYhekz5ETiOwtanWIn?si=a835a3f3b5804cbb.
YouTube: https://youtu.be/t17ruj6yFK0
https://www.linkedin.com/in/romans/
Join the conversation and tell us your view of any of the topics discussed in this episode.
#80, neonVest – how to instantly get Zooms with VCs & Superchargers
Fireside with a VC speaking with Aakash Shah and Surya Viswanathan, the founders of neonVest, how their platform is democratizing access to VCs for early-stage startups. NeonVest allows founders to instantly get Zooms with VCs, successful founder operators and other superchargers to help with funding, refining and improving their pitch, company strategy, financial model, SaaS metrics, exit preparation, referrals, operations, tech and product, valuation, culture, sales & marketing, pitch deck, pricing & biz models, term sheets, legal, market dynamics, talent & hiring, ideation & user testing, board formation, market sizing and everything else from angel and VC funding to company building and exiting. We also dive into the value prop to VCs and other superchargers and why they participate in this marketplace for Zooms and meetings. We close talking about the current market dynamics for Seed to late stage growth financings in Silicon Valley and around the world.
Check out signing up as a founder or VC here: https://neonvest.com/
Check out the neonVest Audio Experience podcast on Spotify: https://open.spotify.com/show/1CB6LR8HPxEbr8Ac5vxgqr?si=f940d0e280684cd1
Find this episode on all podcast platforms: https://open.spotify.com/show/57V2XYhekz5ETiOwtanWIn?si=a835a3f3b5804cbb
YouTube: https://youtu.be/ID2vQD9Z3sM
https://www.linkedin.com/in/romans/
Join the conversation and tell us your view of the current market conditions for seed financings for tech startups.
#79, Band of Angels - Round table discussion with one of Silicon Valley’s most active angel groups
Fireside with a VC diving into a round table discussion with The Band of Angels, one of the oldest and most active angel groups in Silicon Valley covering the current seed and early stage investing and fundraising market environment and conditions. How are valuations and terms changing, the importance of QSBS tax and when to use priced rounds, convertible notes and the dangers of SAFE notes.
Disclaimer: many of these angel groups are LP investors in our VC funds and active members of our network sourcing deal flow, conducting due diligence, taking board seats, actively adding value to our portfolio companies, impacting our exits and helping us raise more LP capital for our VC funds. Many of the members of The Band are highly successful senior executives from large tech titans as well as successful entrepreneurs that have founded startups, raised angel and VC funding and experienced the spectrum of positive and negative outcomes making them more valuable than many VCs to have in your corner in good and bad times along the startup journey.
On all podcast platforms: https://open.spotify.com/show/57V2XYhekz5ETiOwtanWIn?si=a835a3f3b5804cbb
YouTube: https://youtu.be/D_3mqnLF-7w
https://www.linkedin.com/in/romans/
Join the conversation and tell us your view of current market conditions for seed financings for tech startups.
#78, Jack Guedj, Band of Angels, one of Silicon Valley’s oldest & most active angel groups
#78, Jack Guedj, Band of Angels, one of Silicon Valley’s oldest & most active angel groups
Fireside with a VC diving into current seed and early stage investing and fundraising market environment and conditions. How are valuations and terms changing, the importance of QSBS tax and when to use convertible notes and the dangers of SAFE notes.
Next episode #79 includes the roundtable discussion with the Band of Angels. Jack Guedj is also an active member of Sand Hill Angels. Disclaimer: many of these angel groups are LP investors in our VC funds and active members of our network sourcing deal flow, conducting due diligence, taking board seats, actively adding value to our portfolio companies, impacting our exits and helping us raise more LP capital for our VC funds. Many of the members of The Band are highly successful senior executives from large tech titans as well as successful entrepreneurs that have founded startups, raised angel and VC funding and experienced the spectrum of positive and negative outcomes making them more valuable than many VCs to have in your corner in good and bad times along the startup journey.
On all podcast platforms: https://open.spotify.com/show/57V2XYhekz5ETiOwtanWIn?si=a835a3f3b5804cbb
YouTube: https://youtu.be/yfcoZgSLZew
#77, Andrew Romans talking startup valuations and the current environment for VC financings w/ generative AI w/ US Angels Group
Episode #77 of Fireside with a VC, talking startup valuations and the current environment for VC financings as well as the impact of generative AI on startups, angels, VCs and LPs with U.S. Angels, one of the most active investor groups in the U.S. and an LP in 7BC Venture Capital.
· How to price the pre-money valuation for a startup?
· How much cash should a startup raise in its next round?
· What is changing with regards to valuations, size of rounds, terms, exit expectations?
· The connection between the stock market and the private markets from seed to late stage pre-IPO funding and secondaries?
· What does AI mean for capital requirements, competition and everything?
· What to expect from this vintage of startups and VC funds?
· Roundtable discussion with John Ricci and U.S. Angels
Special thanks to John Ricci, a friend of more than 15 years!
https://www.linkedin.com/in/jfricci/
https://spotifyanchor-web.app.link/e/yCRhe7cD7zb
https://www.youtube.com/c/AndrewRomansVC/videos
andrew@7bc.vc
https://www.linkedin.com/in/romans/
#74, Charles Hudson, Managing Partner, Precursor Ventures on Generative AI
Episode #74, Charles Hudson, Managing Partner, Precursor Ventures on Generative AI
*Discussing how investors and founders can think about new generative AI startups that appear to have build products in days or weeks compared to years.
*What this new technology means for developing moats or barriers to entry for startups that can create working products so quickly.
*Early days of emerging managers with SoftTech VC / Uncork Capital and working with other emerging managers generating much higher returns than the large 30 year funds.
*Founding a new VC emerging manager and migrating from small ticket LPs to larger institutional LPs.
*Portfolio construction for early seed and strategies for follow on investing.
YouTube: https://youtu.be/qTz9frTbkq8
https://www.linkedin.com/in/romans/
Thanks to our sponsor Pacific Western Bank, Startup Banking & Venture Debt, Mark diTargiani, mditargiani@pacwest.com
#76, Claus Skaaning, CEO of DigiShares tokenizing real estate assets
Episode #76, Claus Skaaning, CEO of DigiShares tokenizing real estate assets
· Discussing tokenization of real estate and other assets via white label solutions as well as launching their own real estate crypto exchange in the US and Europe enabling users to not touch crypto on or off ramps with everything working legally, licensed and compliantly.
· Why tokenization is important?
· How it lowers backend costs saving money and improving the performance of customers?
· What kind of assets are being tokenized other than real estate?
· The importance of fractionalization and democratization of the asset class.
· Creating trading liquidity and growing the demand for finite real estate supply.
· Raising money from investors in the current marketplace.
· How the world will be different as a result of all this digitization of large asset classes in 5 or 10 years from now?
Contact: cs@digishares.io
https://digishares.io/
https://spotifyanchor-web.app.link/e/yCRhe7cD7zb
https://www.youtube.com/c/AndrewRomansVC/videos
#75, Hadley Harris, cofounder, ENIAC Ventures, NYC Seed Fund
Episode #75, Hadley Harris, cofounder, ENIAC Ventures, NYC Seed Fund
· Discussing strategies for Seed investment as well as Opportunity Funds for doubling down in winners.
· How much diversification is required for optimal risk mitigation and impact of winners to fund results
· Evolution of the New York startup ecosystem over the past 13 years since ENIAC’s first fund
· Acquisition market in New York
· How to price a seed round and determine the right amount of capital to raise.
· How much dilution is expected in a first pre-seed round.
· What milestones are expected to get to the next late stage seed round.
· Convertible notes vs SAFE notes vs priced rounds
· What tech sectors are getting the most interest
· Making sure startups have more than a thin layer on top of ChatGTP
https://youtu.be/Lj0OffldWyQ
https://podcasters.spotify.com/pod/show/firesidevc
Episode #73, VC Insight Panel, 7BC Event NYC March 7 2023
Recording of the VC Insight Panel at the sold out 7BC Venture Capital event in New York City at Pillsbury March 7, 2023.
VC Insight Panel
Andrea Lamari, General Partner, Manhattan Venture Partners (MVP)
Steve Brotman, Managing Partner, Alpha Partners, Senior Advisor, Pritzker Group
Wiz, Chief Astronaut, Spacecadet Ventures, The Marketing VC
Jonathan Shriftman, Partner, Expanding Capital
Andrew Romans, General Partner, 7BC Venture Capital, moderator
Talking about everything from seed to growth stage capital, dynamics around pro rata equity rights to complex structured secondaries.
Many thanks to sponsors and partners Fidelity, Better Engineering by Salsa Mobi, neonVest and Pillsbury.
Join us for our next event in Seattle April 4th which is nearly sold out with more than 50% VCs, family offices, angels and LPs registered. https://7BC-neonVest-Seattle.eventbrite.com
YouTube: https://youtu.be/CYyZt6aKKy4
Episode #72, Krishna Srinivas, cofounder, LiveOak Venture Partners
Episode #72, Krishna Srinivas, cofounder, LiveOak Venture Partners on Fireside with a VC
Ahead of SXSW very happy to share our podcast with one of Austin’s VC OGs discussing:
- Ten lessons on entrepreneurship from summiting Mt. Kilimanjaro with his wife and kids
- 100% all-in on Texas, early stage, tech and tech-enabled services, Seed to Series A entry point
- Close to $500m AUM at LiveOak
- The evolution of the Austin, Texas VC startup scene
- What sectors and topics founders were working on and how this evolved to today
- Who were the VC funds in the 90s, early 2000s when there were literally fewer than 5 active VCs, then 15 VCs with representatives from NEA, Polaris and other big funds and then the collapse back to 5 to 8 active funds and the rise to today with Austin being a leading city with one of the highest concentrations of VC funds per capita
- The perfect storm of conditions for Austin to become a #2 market after California with huge tech talent and still total lack of local VC capital
- Lessons from the 2000 dot-com crash relevant to today’s 2023 market, how the current batch of startups will move forward from early to growth stage
YouTube: https://youtu.be/1zRJeFouxPA
All podcast platforms: https://anchor.fm/FiresideVC
Registration is open for 7BC’s in-person VC insight panels, startup presentations & networking receptions
New York City, March 7, 2023 – https://7BC-neonVest-NYC.eventbrite.com.
Seattle, April 4, 2023 – https://7BC-neonVest-Seattle.eventbrite.com.
Planning events in cities in key tech corridors across the U.S. Get in touch if you want to host or sponsor any of our events.
https://www.linkedin.com/in/romans/
Thanks to our sponsor Pacific Western Bank, Startup Banking & Venture Debt, Mark diTargiani, mditargiani@pacwest.com
Episode #71, Andrea Lamari, General Partner, Manhattan Venture Partners (MVP)
Episode #71, Andrea Lamari, General Partner, Manhattan Venture Partners (MVP) on Fireside with a VC
Meet Andrea at 7BC's in-person event in New York City on March 7, 2023 - https://7BC-neonVest-NYC.eventbrite.com.
- 101 lesson on secondaries and the secondary market
- Complexities of how secondaries work from the perspective of founders and investors selling shares for liquidity, the buyer of the secondaries, existing preferred shareholders and the company with Right of First Refusals (ROFRs)
- Deep dive on ROFRs
- Structuring for primaries and secondaries
- The bid / ask divide between sellers and buyers and how this will play out over the coming quarters following a downward reset of the market following a boom of early 2021 and a crash of the public markets in February of 2022
YouTube: https://www.youtube.com/c/AndrewRomansVC/videos.
All podcast platforms: https://anchor.fm/FiresideVC
Registration is open for 7BC’s in-person VC insight panels, startup presentations & networking receptions
New York City, March 7, 2023 – https://7BC-neonVest-NYC.eventbrite.com.
Seattle, April 4, 2023 – https://7BC-neonVest-Seattle.eventbrite.com.
https://www.eventbrite.com/o/7bc-venture-capital-52957202553#events
Planning events in cities in key tech corridors across the U.S. Get in touch if you want to host or sponsor any of our events.
https://www.linkedin.com/in/romans/
Thanks to our sponsor Pacific Western Bank, Startup Banking & Venture Debt, Mark diTargiani, mditargiani@pacwest.com
Episode #70, John Frankel, cofounder, ff Venture Capital in New York, Poland & Ukraine
Episode #70, John Frankel, cofounder, ff Venture Capital on Fireside with a VC discussing:
· Learnings from Goldman Sachs applied to VC
· Launching the largest VC fund in Ukraine
· Launching a VC fund in Poland
· Managing the 6 VC funds based in New York, but investing across the US
· What percentage of companies get to $100m of ARR and how this drives portfolio construction
· What is the true work and lifestyle in running a VC business from raising capital, sourcing and diligencing deals, reporting, helping startups, numbers, and repeating
· The types of investors John got into fund I and how this changed with characteristics of raising a fund II, III, IV up to fund VI
· The true time table of starting to getting to exits and into carry
· The difference between investing early, mid stage and late stage within the context of a changing dynamic economy
· QSBS tax breaks for LPs, VCs and founders. No tax on the greater of 10x cost or $10m
· Details on why convertible notes are bad and SAFEs are worse
· The best way to construct a board of directors from pre-seed onwards
· Where is the market going? When is the bottom of the market and why?
· Breaking "the economy" into at least 6 different economies
· How the standoff on falling valuations will play out as we recover
· The complex relationship of public markets and private markets
Twitter: https://twitter.com/john_frankel
YouTube: https://youtu.be/DDCqJMVgUsc
All podcast platforms: https://anchor.fm/FiresideVC
Registration is open for 7BC’s in-person VC insight panels, startup presentations & networking receptions
New York City, March 7, 2023 – https://7BC-neonVest-NYC.eventbrite.com.
Seattle, April 4, 2023 – https://7BC-neonVest-Seattle.eventbrite.com.
Planning events in cities in key tech corridors across the U.S. Get in touch if you want to host or sponsor any of our events.
https://www.linkedin.com/in/romans/
Thanks to our sponsor Pacific Western Bank, Startup Banking & Venture Debt, Mark diTargiani, mditargiani@pacwest.com
Episode #69, Martin Tobias, founder, Incisive Ventures in Seattle on Fireside with a VC
Episode #69, Martin Tobias, founder, Incisive Ventures in Seattle on Fireside with a VC discussing:
· How is Seattle different from Silicon Valley, Austin, or New York startup VC ecosystems?
· Getting away the very last IPO as CEO before the dot-com crash and lessons learned and how these apply to today’s climate.
· Old days of Microsoft and becoming a super angel and launching a Seed VC fund.
· Investing in Google, DocuSign, Ron Conway’s SV Angel I and II Funds
· Figuring out which of his 200 angel investments were the best and developing an investment thesis around this.
· Top meta themes & screening process
YouTube: https://youtu.be/iCl0_4i_rqM
Spotify: https://rb.gy/chjrsf
All podcast platforms: https://anchor.fm/FiresideVC
Martin writes notes to himself on how to live the good life at DeepGreenCrystals.com.
Registration is open for 7BC’s in-person VC insight panels, startup presentations & networking receptions
New York City, March 7, 2023 – https://7BC-neonVest-NYC.eventbrite.com.
Seattle, April 4, 2023 – https://7BC-neonVest-Seattle.eventbrite.com
Planning events in cities in key tech corridors across the U.S. Get in touch if you want to host or sponsor any of our events.
Episode #68, Steve Brotman, Managing Partner, Alpha Partners & Advisor to the Pritzker Family Office
Episode #68, Steve Brotman, Managing Partner, Alpha Partners & Advisor to the Pritzker Family Office discussing:
· The Alpha model to partner with Seed to Series A VC funds to invest in their pro-rata growth rounds of top winners and share carry with the Seed to Series A VC funds.
· Dynamics of early-stage VC funds deciding to double down or create an SPV to put more capital into winners versus partnering with growth specialists like Alpha Partners.
· Is it bad to let your fund LPs get overexposed to single deals via SPVs.
· The trend of LPs trying to do more directs coinvesting with their GPs and now LPs pulling back from making direct investments and “coinvestments” becoming a bad word.
· Investing in growth rounds in this new 2023 macro-economic environment.
· Expectation of multiples and holding times for growth stage investing.
· What are sensible multiples of ARR to pre-money valuations?
· What revenue year-on-year growth rates are expected for growth stage venture backed startups?
· How growth companies can get to profitable unit economics for growth companies and restructure businesses that were selling $100 to customers for $50.
· Are we heading into a worse economy or is the economy improving over the next 6, 12, 18 months?
YouTube: https://youtu.be/3EXtUiunpcQ
All podcast platforms: https://anchor.fm/FiresideVC
Registration is open for 7BC’s in-person VC insight panels, startup presentations & networking receptions
New York City, March 7, 2023 – https://7BC-neonVest-NYC.eventbrite.com. Steve Brotman will be one of the panelists on the VC panel in NYC and will be joined by over 37 VCs, family offices and angel investors already registered for the event as of Jan 31, 20223. Waiting list starts at 100 delegates.
Seattle, April 4, 2023 – https://7BC-neonVest-Seattle.eventbrite.com.
Planning events in cities in key tech corridors across the U.S. Get in touch if you want to host or sponsor any of our events.
Episode #67, Mike Smerklo, cofounder, Next Coast Ventures, $600m+ Austin-based VC
Episode #67, Mike Smerklo, cofounder, Next Coast Ventures, $600m+ Austin-based VC and author on Fireside with a VC discussing:
· Moving from Silicon Valley to Austin, Texas
· Cofounding a VC in Austin, Texas with over $600m in AUM focused on Series A and B rounds within 6 years currently investing out of a $310m Fund IV closed in early 2022
· Timing of a perfect vintage within the macro-economy
· Author of 2020 published book - Mr. Monkey and Me: A Real Survival Guide for Entrepreneurs - https:a//rb.gy/4qfdq3
· How Mike got into startups and venture being recruited by Marc Andreessen
· Building a company from 30 to 3,000 employees, $300m revenue to nearly $1bn valuation and IPO’ing
· Lehman Brothers and Morgan Stanley in the early dot-com days
· Dynamics of raising fund II compared to funds III and IV
· Are we going into a further recession or recovery in the startup world?
· Valuations and dynamics of A, B, and C rounds over the next 24 months and how to prepare
Book: Mr. Monkey and Me: A Real Survival Guide for Entrepreneurs - https:a//rb.gy/4qfdq3
Blog: www.mikesmerklo.com
LinkedIn https://www.linkedin.com/in/mikesmerklo
Twitter: mikesmerklo
Facebook: smerklo
Registration is open for 7BC’s in-person VC insight panels, startup presentations & networking receptions
New York City, March 7, 2023 – https://7BC-neonVest-NYC.eventbrite.com
Seattle, April 4, 2023 – https://7BC-neonVest-Seattle.eventbrite.com
Planning 10 other cities in key tech corridors across the U.S.
Get in touch if you would like to host an event or sponsor and become part of the tour.
Spotify: https://open.spotify.com/show/57V2XYhekz5ETiOwtanWIn?si=6f51aad36d47450a
YouTube: https://youtu.be/EkF219SkWI0
All podcast platforms: https://anchor.fm/FiresideVC
Episode #66, Mark diTargiani, explaining Venture Debt & Relationships, Pacific Western Bank
Episode #66, Mark diTargiani, Venture Debt and Startup Banking, Pacific Western Bank on Fireside with a VC. Mark presented to Andrew Romans’ venture capital class at Chapman University as a guest speaker discussing:
· Explaining how Venture Debt works, when it makes sense and when it does not make sense.
· Startup banking and general advice on startups and raising capital.
· The importance of relationships and understanding how to help people in your network to develop your relationships and achieve success.
· Networking within the startup VC ecosystem.
https://www.linkedin.com/in/markditargiani/
Registration is open for 7BC’s in-person VC insight panels, startup presentations & networking receptions
New York City, March 7, 2023 – https://7BC-neonVest-NYC.eventbrite.com
Seattle, April 4, 2023 – https://7BC-neonVest-Seattle.eventbrite.com
Planning other cities in key tech corridors across the U.S.
YouTube: https://www.youtube.com/c/AndrewRomansVC/videos
Spotify: https://open.spotify.com/show/57V2XYhekz5ETiOwtanWIn
All podcast platforms: https://anchor.fm/FiresideVC
Episode #65, Alex Moore, Partner at 8VC, 1st employee at Palantir, Defense focused VC
Episode #65, Fireside with a VC speaking with Alex Moore, 1st employee of Palantir ($14.5bn market cap), cofounder of Backplane (one of my investments), cofounder of Nodeprime (one of my investments), Partner at 8VC with $6bn+ of AUM discussing:
• Early days of Palantir up to today where he is a board member
• Focusing on defense related tech startups when most of Silicon Valley did not or does not want to support the U.S. defense industry
• Creating startups with a dual defense + commercial revenue / customer model
• Selling into government / intelligence / military
• Culture of recruiting engineers and founders to focus on military / defense tech
• Startups leveraging data in vertical models
• Venture Studio / incubation models that work within the VC machine, ownership models, founder equity, engineering equity / ESOP pool, attracting follow on funding from classic VCs
• Vesting schedules for founders and employees
• How to retain high value engineers and employees
• Valuations in today’s current market for funding and exits
• How many months runway should startups raise for in today’s uncertain market
• How real is the conflict between the West and Russia & China
• Working with Joe Lonsdale & Peter Thiel
• Opportunity to build software for most of the economy that is not leveraging technology yet, but must
• How the demise of crypto is good for real tech startups
• What makes a great entrepreneur and what makes a fundable founding team
• Succeeding in the current economic environment and growing individual careers
Video on Spotify and YouTube https://youtu.be/SScCtPD_awE.
Audio on all podcast platforms - https://anchor.fm/FiresideVC.
Special thanks to Mark diTargiani & the Venture Debt & Startup Banking team at Pacific Western Bank for sponsoring this episode. https://www.linkedin.com/in/markditargiani/
Episode #64, Greg Coquillo, latest trends in Generative AI, AI/ML & 160k LinkedIn followers
Episode #64, Fireside with a VC speaking with Greg Coquillo, 2x Top Voice on Linkedin for AI, Data Science, Technology and Innovation with 160k followers on LinkedIn, senior exec reducing cognitive overload for users by delivering AI/ML solutions at large FAANG in Seattle. Discussing:
· How he got 160k followers on LinkedIn.
· Having the confidence to be right but also to be wrong and learn via engagement with LinkedIn community talking technology.
· Latest trends in Generative AI, what it means, what works now, and what needs to happen for many breakthroughs for humanity and business.
· Update on AI, ML and Cognitive AI.
· How coming from the world of manufacturing taught him to think differently about the world of software.
· Most fulfilling achievements as a Pricing Optimization Product Manager for one of the largest companies in the world.
· His latest angel and advisory investment DAGsHub.
· Quantum computing and technologies that will take the world by storm.
· Personal journey of moving from Haiti to tech at a top FAANG in Seattle and the drive to give back.
Video on Spotify and https://youtu.be/PIKGjlriFh4.
Audio on all podcast platforms - https://anchor.fm/FiresideVC.
Special thanks to Mark diTargiani & the Venture Debt & Startup Banking team at Pacific Western Bank for sponsoring this episode. https://www.linkedin.com/in/markditargiani/
https://www.linkedin.com/in/greg-coquillo/
https://twitter.com/GaryCoquillo
andrew@7bc.vc
Episode #63, Dan Harvey, Vice Chairman of CBRE, WaaS - Workplace as a Service
Episode #63, Fireside with a VC speaking with Dan Harvey, Vice Chairman of CBRE discussing WaaS Workplace as a Service and all the changes in a post-Covid world on how to maximize PIC (Productivity, Innovation & Collaboration). Discussing how startups and large companies can get the correct mix of in-office, work from home (#WFH) & offsite events mixing office space, technology and techniques for maximal results. What to measure and how to measure various outputs impacting how companies attract and retain talent in a talent war and how can startups or corporates get the best results from their teams? Money is not free any more. EBITDA matters. Productivity matters. Is it cheaper to build the best mix of technology and methods in-house or outsource any of this.
https://www.linkedin.com/in/dan-harvey-ba7ba726/
Video on Spotify and https://youtu.be/un5Dpqup27E.
Audio on all podcast platforms - https://anchor.fm/FiresideVC.
Special thanks to the Venture Debt & Startup Banking team at Pacific Western Bank for sponsoring this episode.
andrew@7bc.vc
Episode #62, Brandon Metcalf, CEO of Place, challenges for SaaS companies today
Episode #62, Fireside with a VC speaking with Brandon Metcalf, CEO of Place discussing challenges for creating and scaling SaaS companies. Brandon is an Austin-based 4x founder, podcast host, board director, advisor, software creator, Salesforce expert and investor. Discussing:
· Fundraising from angels and VCs
· How to track key SaaS metrics for success and tying that to growth, staffing and fundraising
· The balance of investing in more product engineering or growth vs milking what you have for sales and profitability
· Going from point solutions to adding modules, reaching end-to-end solutions and how that impacts customer win rates, changes whom you are selling to and closing business
· “Must have” vs “nice to have” technology in today’s macro-economic environment
· What has changed in fundraising, cash runways, how to deal with investors and employees
· Hiring, firing and growth during an economic downturn
· Lessons learned from fundraising and M&A exits from previous startups
· Working with Salesforce and how to be successful in this massive ecosystem
Podcast: Cash & Burn: https://www.placetechnology.com/cash-and-burn-podcast/
LinkedIn: Brandon Metcalf: https://www.linkedin.com/in/metcalf/
SaaS glossary: Little Black Book of SaaS: https://www.placetechnology.com/little-black-book-of-saas/
Company website: Place: https://www.placetechnology.com/
Video on YouTube https://youtu.be/uGOmN_WQmHk and Spotify. Audio on all podcast platforms - https://anchor.fm/FiresideVC
andrew@7bc.vc
Episode #61, Kyle Kling, Head of MDI Ventures, the CVC of Telekom Indonesia, 4th largest country in the world by population @Chapman University
Episode #61 Fireside with a VC speaking with Kyle Kling, Head of MDI Ventures, the CVC of Telekom Indonesia at Chapman University in Southern California. Discussing:
· The evolution of Corporate Venture Capital (CVC)
· Specifics around “on the balance sheet” vs “off the balance sheet” issues around CVC
· Unique issues for Telekom Indonesia with a board of commissioners including government voting, Singtel and Singapore minority ownership of Telekom Indonesia ownership
· Conglomerate culture, privately held family office culture in South East Asia
· The conglomerate Telekom Indonesia, owns not only a mobile network operator more than twice the size of Verizon, but also pharmaceutical, healthcare clinics, IT services, data centers, financial services, music and entertainment, and 30 other major businesses
· Investing in US companies and other companies outside of South East Asia
· Methodologies for valuing startups in a VC portfolio
· Working at a CVC vs an independent VC
· Compensation and other issues for CVCs
Video on YouTube https://youtu.be/2O343fJPA-w and Spotify. Audio on all podcast platforms - https://anchor.fm/FiresideVC
Andrew@7bc.vc
Episode #60, Chuck Newhall, cofounder of NEA, author of Dare to Disturb the Universe, A Memoir of Venture Capital
Episode #60 Fireside with a VC speaking with Charles (Chuck) Newhall, III, a 3rd generation venture capitalist. Newhall cofounded New Enterprise Associates (NEA) in 1977 with Dick Kramlich and Frank Bonsal. NEA is the largest VC fund in the world. Newhall is a U.S. warrior who served in Vietnam commanding an independent platoon. His decorations include the Silver Star and Bronze Star. Newhall is also the author of a new book - Dare to Disturb the Universe, A Memoir of Venture Capital.
Discussing:
· Fighting on Hamburger Hill in Vietnam and revelations of a career in VC.
· Founding a VC firm built to last 100+ years and specifics of how he built NEA.
· Origins of venture capital dating back to Phoenicians and how Christopher Columbus was a VC-backed founder with an 80/20 split of the gains or what he “carried”.
· Wisdom from Marcus Aurelius, the 2&20 model, and aligning interests.
· Stories of VC investing and startups including persistent seed investing in Apple Computer. Buying 10% of Apple Computer for $400k by sleeping at the Apple office and refusing to go home.
· Investing based on DD from experts versus investing from passion.
“You’re only one person away from a great company at any point in time.” - Charles (Chuck) Newhall, III
For more buy the books:
1) Dare to Disturb the Universe, A memoir of Venture Capital (https://rb.gy/g1izrc).
2) Brightside Gardens - A Dialogue Between The Head and The Heart (https://rb.gy/qcphsn)
3) The Chronicles of Stanley the Pug (https://youtu.be/uwjq7kInKlY)
Andrew@7bc.vc
Episode #59, Arthur Bavelas, Family Office Insights, recession, secondaries, LPs in the VC process
Episode #59 Fireside with a VC talking to Arthur Andrew Bavelas, Managing Partner, Family Office Insights, discussing why the recession is making the current vintage of VC perform better, talking about secondaries, VC strategies to return LP capital back faster via SPVs and secondaries and how to involve LPs in the VC process.
Video on YouTube and Spotify - https://youtu.be/AHv4F7t2uWE. Audio on all podcast platforms - https://anchor.fm/FiresideVC
andrew@7bc.vc
Andrew Romans talking VC and presenting Fund III with old friends in DC
Play this video back at 2x speed if you are proficient in English. Fund performance is now up since recording this video. Our first fund has a MOIC of 4.11x and expects to return a minimum 7x cash on cash return. Fund II MOIC of 4.41x and expects a 12x to 15x cash on cash return. Fund III is already up 1.27x and newest investors still get in at cost. Talking to some old friends in the Washington DC area about 7BC Venture Capital related to our 506c VC fund which allows for general solicitation.
Episode #58, Early Stage VC in Africa with Marsha Wulff, cofounder of LoftyInc Capital Management
Episode #58 of Fireside with a VC discussing early stage VC in sub-Saharan Africa with Marsha Wulff, cofounder of LoftyInc Capital Management as a guest speaker at Chapman University talking to Professor Andrew Romans and his students at his class on VC.
*Starting a VC fund to invest in sub-Saharan African early stage tech startups.
*Overcoming challenges in raising LP capital for a "Top 3" VC fund investing in African startups.
*Opportunities and challenges facing African entrepreneurs, VCs and LPs as well as the evolving high value angel scene in Africa.
*Advice for African founders on how to raise angel and VC funding.
Feel free to get in touch to learn more about investing in African or American VC funds.
Video on Spotify and YouTube: https://youtu.be/EPgmMjJDmG8.
Subscribe to Fireside with a VC on YouTube, Spotify and all podcast platforms: https://anchor.fm/FiresideVC. Join the 7BC Venture Capital Syndicate to co-invest with our VC fund (https://angel.co/s/sevenbc/ZZAgQ) or invest in our 506c VC fund which co-invests with our main VC fund and join a powerful network of investors actively backing and supporting our portfolio companies. Andrew@7bc.vc
Episode #57, John Vitti, CEO of Versus Game on campus at Chapman University
Episode #57, John Vitti, CEO of Versus Game on campus at Chapman University with Professor Andrew Romans
Talking about lessons learned from 4 previous startups and how we raised nearly $40m from top Silicon Valley VCs including very hands on investment and support from Eric Schmidt, Kevin Hart, 7BC Venture Capital and other investors.
Building a large business to over $100m in revenue and leveraging Hollywood TV models to drive a high growth, high margin, impact business to change the world.
Advice to founders on getting started and getting connected.
Video: https://youtu.be/KBgwdQo4NqQ.
Subscribe to Fireside with a VC on YouTube, Spotify and all podcast platforms: https://anchor.fm/FiresideVC.
Join the 7BC Venture Capital Syndicate to co-invest with our VC fund (https://angel.co/s/sevenbc/ZZAgQ) or invest in our 506c VC fund which co-invests with our main VC fund and join a powerful network of investors actively backing and supporting our portfolio companies. Andrew@7bc.vc
#56, Update on the war in Ukraine from the front lines in Kiev with Eric Kadyrov, Founder at Private Tech Network.
Episode #56, Update on the war in Ukraine from the front lines in Kiev with Eric Kadyrov, Founder at Private Tech Network.
Talking about specific numbers and the state of the war with images, videos and how he has helped move weapons around the country and done direct outreach to thousands of companies to stop doing business with Russia from HP and Cisco to startups.
In this episode Eric is a guest speaker to my class I teach at Chapman University on Venture Capital. Eric is also the founder of Private Tech Network, an AI driven VC as a Service platform where I am an advisor.
Download Eric's slides here: https://docsend.com/view/x3ef7qrh8u2p5yjp.
Video: https://youtu.be/UlWOfIfQzXQ.
Subscribe to Fireside with a VC on YouTube, Spotify and all podcast platforms: https://anchor.fm/FiresideVC.
Join the 7BC Venture Capital Syndicate to co-invest with our VC fund (https://angel.co/s/sevenbc/ZZAgQ) or invest in our 506c VC fund which co-invests with our main VC fund and join a powerful network of investors actively backing and supporting our portfolio companies. Andrew@7bc.vc
Episode #55, Secondaries & VC performance metrics
Venture Capital Thursdays: Discussing and understanding secondaries, VC performance metrics and evolving liquidity in the venture capital asset class across the stack from founders to angels, Seed VCs, Series A VCs, growth investors and LPs with my students in California. Recommend to play at 2x speed if English is your first language.
· Direct Secondaries – primary vs secondary investing
· How does it work with running a process, getting ROFR’d, how to not get ROFR’d
· How to waste time and not make any money trying to buy secondaries and what happens in the real world?
· Structured secondaries
· How are secondaries impacting the timing of an exit?
· How are secondaries impacting the actual value of the exit?
· How are secondaries impacting the performance of a VC fund to its LP investors?
· Understanding key VC performance terms work
and the impact of Secondaries on performance
· What is IRR? – impact of secondaries?
· What is MOIC? – impact of secondaries?
· What is TVPI? – impact of secondaries?
· What is DPI? – impact of secondaries?
· What is Cash-on-Cash? – impact of secondaries?
· LP Secondaries
· Discounts LP secondary buyers seek to get
· What is a Fund of Funds (FOF)
· Evolving liquidity in the venture capital asset class across the stack from founders to angels, Seed VCs, Series A VCs, growth investors and LPs
Video: https://youtu.be/qorjT7OV9nU
Subscribe to Fireside with a VC on YouTube, Spotify and all podcast platforms: https://anchor.fm/FiresideVC.
Join the 7BC Venture Capital Syndicate to co-invest with our VC fund (https://angel.co/s/sevenbc/ZZAgQ) or invest in our 506c VC fund which co-invests with our main VC fund and join a powerful network of investors actively backing and supporting our portfolio companies. Andrew@7bc.vc
Episode #54 Brian Laung Aoaeh, GP @REFASHIOND Ventures on Fireside with a VC
Episode #54 Brian Laung Aoaeh, GP @REFASHIOND Ventures on Fireside with a VC sharing his story of going from his home country of Ghana to becoming a VC at KEC Ventures and now cofounder of REFASHIOND Ventures focused on supply chain and sharing research on how family offices can best play in the early-stage venture capital space.
· The Research Report on Family Offices: Towards A Partnership Model for Family Offices and Emerging Venture Firm Managers https://docsend.com/view/47y7zzu4rxwhtaxi
· REFASHIOND Ventures: https://www.refashiond.com/
· REFASHIOND Ventures AngelList Fund: angel.co/v/back/refashiond-seed
· The Worldwide Supply Chain Federation: https://theworldwidesupplychainfederation.com/our-vision
Video: https://youtu.be/GLeEzutBOX0
Subscribe to Fireside with a VC on YouTube, Spotify and all podcast platforms: https://anchor.fm/FiresideVC.
Join the 7BC Venture Capital Syndicate to co-invest with our VC fund (https://angel.co/s/sevenbc/ZZAgQ) or invest in our 506c VC fund which co-invests with our main VC fund and join a powerful network of investors actively backing and supporting our portfolio companies. Andrew@7bc.vc