Ep 032 - Ross Fubini, Managing Partner at XYZ Venture Capital

Learn these 7 important things about VC from a legendary Midas List investor!

We’re starting 2025 with a bang on New to Venture! Nerd out with Ross Fubini, Founding Managing Partner at XYZ Venture Capital, on episode 032 about all things VC and beyond. This one is an episode for the ages because there is a heartwarming surprise guest appearance by another fantastic investor in the episode! Tune in 🙂

Key Takeaways:

1️⃣ Venture, even when successful, is very lonely! The feeling of success is very different from building a company. You are continuously “starting from scratch” with every new investment, while being a successful operator involves compounding baby steps forward.

2️⃣ The nature of Venture is lonely in a few ways. You either made the right decision or you didn’t. Your job as an early stage VC is completed long before the company ends up being successful. It's off tempo to the teams building the product, which is very disorienting.

3️⃣ Create systems and processes IMMEDIATELY after you didn’t get the outcome you wanted. For example, if you miss a deal due to timing, build protocol so you never miss a deal due to timing again. Use the emotional tension of failure to do something productive!

4️⃣ GovTech is a unique vertical. Good founders must have a notably strong GTM strategy. It is essential to win in this vertical.

5️⃣ Practice low-ego, high ability! Venture is notoriously filled with strong personalities. Having low-ego is a great way to be someone fun to work with.

6️⃣ Joining the right founder and VC pockets is a test of patience. Keep backing the best people in your current circles, then slowly climb up. JUST DO IT! The most efficient way to get good at something is to get started.

7️⃣ Figure out what your VC firm is good at and lean into it. If you join, wanting to shake things up and start new projects, it creates a ton of friction since your firm doesn’t understand it yet. Try your best to deeply understand how the firm thinks and makes decisions.

Timestamps:

(00:00) - Introductions

(02:04) - The Fubini Theorem and naming the firm

(05:19) - Ross’s origin stories

(09:31) - Building a tech company vs. a tech investing firm

(12:03) - Why Venture Capital is lonely

(17:45) - Creating smart processes

(20:50) - Surprise guest appearance! + GovTech founders + great people

(27:36) - How social media has changed Venture Capital

(31:48) - Breaking into founder networks

(39:42) - Highlights and lowlights

(43:32) - Ceremonial final Qs