20VC: Why Financial Models at Seed, $5M Seed Rounds & The Fear of Signalling Risk is all BS | Why Multi-Stage Firms Have Destroyed Seed & Who Wins and Who Loses in the Next 10 Years of Venture with Adam Besvinick, Founding Partner @ Looking Glass Capital

20VC: Why Financial Models at Seed, $5M Seed Rounds & The Fear of Signalling Risk is all BS | Why Multi-Stage Firms Have Destroyed Seed & Who Wins and Who Loses in the Next 10 Years of Venture with Adam Besvinick, Founding Partner @ Looking Glass Capital

Adam Besvinick is the Founder of Looking Glass Capital, a pre-seed-focused firm started in 2020. Before starting Looking Glass, Adam spent about 5 years at Deep Fork Capital and Anchorage Capital Group investing in pre-seed through Series C. Adam's portfolio across funds includes the likes of BigID, Transfix, NomNom, and Hone Health, to name a few.

In Today's Episode with Adam Besvinick We Discuss:

1. How Twitter Led to Founding a Venture Firm:

  • How did Adam make his way into the world of venture through Twitter?
  • What are 1-2 of his biggest lessons from working with the legend, Chris Sacca?
  • What does Adam know now that he wishes he had known at the beginning of his time in VC?
  • What do most young VCs misunderstand when it comes to reputation?

2. Raising Fund I: The Process:

  • How many LP meetings did Adam have to close Fund I?
  • What docs and materials did he have for the fundraise? How does he advise other managers on doing docs for fundraises?
  • How do different LP profiles want different things in the managers they work with?
  • How did Adam approach first vs final close? How does he advise others managers on closing?
  • How did Adam instil a sense of urgency in LPs to move and commit to the fund?
  • What are 1-2 of Adam's biggest pieces of advice to managers raising a first-time fund?

3. Looking Glass: The Very Disciplined Pre-Seed Strategy:

  • How did Adam decide on the fund size? Why is it the optimal fund size?
  • What is the desired ownership for Adam? What level of dilution does he expect across the lifecycle of the company?
  • What is the average check size? What is the average entry price?
  • How does Adam approach reserves and follow-on checks?
  • How does Adam reflect on his own relationship to price?
  • Why does Adam not like the majority of pre-seed micro-fund strategies?

4. The Market: Multi-Stage Firms Destroying Seed

  • Does Adam agree that "multi-stage firms have destroyed seed rounds"?
  • How does Adam advise founders when they have multi-stage offers and seed firm offers?
  • Who will be the winners and losers in the next 10 years of venture?
  • Why is it harder than ever to advise founders on fundraising rounds today?

Episoder(1388)

20 VC 004: David Hornik on the Magic of Stanford and Startups

20 VC 004: David Hornik on the Magic of Stanford and Startups

Welcome to Session 4 of The Twenty Minute VC, on today's incredible show, I am hugely excited to present David Hornik. David started his career as legal attorney to some of the hottest startups in Silicon Valley before making his foray into the Venture Capital Industry with August Capital in 2000. If that wasn't enough, David created the 1st Venture Capital blog, VentureBlog and is also the presenter of VentureCast. In today's episode you will learn: Why David made the transition from the legal world into the VC industry? What is so special about Stanford that enables a continuous flow of revlolutionary companies? Whether legal skills are attributable to the funding industry? What David looks for when investing in a company? Does it always have to be a big market opportunity for VCs to invest? What the best piece of business advice David has ever received? What book David would recommend to a Startup Founder? We then progress into a quick fire round where we hear David's views on Peter Thiel's 20 Under 20 and the 1st $Trillion business.

18 Jan 201522min

20 VC 003: Bob Ghoorah on Startups, The Pitch and Uber

20 VC 003: Bob Ghoorah on Startups, The Pitch and Uber

On today's episode I am thrilled to welcome Bob Ghoorah, Managing Director at Columubus Nova Technology Partners. Bob has experienced both sides of the table having been an early employee at three technology companies in Silicon Valley; LoudCloud (Nasdaq: LDCL), Opsware (Nasdaq: OPSW) and Ning, a privately-held software platform (sold to Glam Media in 2011). In this episode we find out: The benefits of having a legal knowledge in the Startup community. What characteristics make the best entrepreneurs? Who does Bob think of, when the word 'success' is mentioned and why? Where Bob sees the future of Uber? What aspects of a Startup are essential in order to obtain VC funding? Is it important for Startups to be located in Silicon Valley? What books Bob woulg give to an aspring entrepreneur and startup founder? What advice Bob would give to anyone looking to get into the Venture Capital Industry? Finally, we head to the quick fire round. Here, we get Bob's immediate reactions to the latests tech topics including tech bubble, company valuations and the first trillion dollar company. For all the resources mentioned in todays show head over to The Twenty Minute VC.

13 Jan 201522min

20 VC 002: How to become a VC with Kris Jones

20 VC 002: How to become a VC with Kris Jones

In this session of The Twenty Minute VC, I'm so excited to have the opportunity to interview Kris Jones. Kris has enjoyed an amazing career in the technology industry, founding PepperJam, an internet marketing agency in 1999 and later selling it to Ebay in April of 2010. More recently, Kris has made his transition into the Venture Capital Industry through the founding of an early stage technology investment fund, KBJ Capital, which includes portfolio companies Highlighter.com, French Girls App, ReferLocal.com, LSEO.com and many more incredible companies. In this session you'll learn: Why Kris decided to make the transition from the Startup ecosystem to the world of Venture Capital. How did it feel for Kris, selling his company to Ebay? What was the most important lesson Kris learnt in the journey from having the idea for PepperJam to being acquired by Ebay? What is the key characteristic a Founder must have? What can an individual do to get employed in the Venture Capital industry. Kris is also a prolific writer here are some of his articles, you can check out! Forbes: 15 Steps to Set Your Company Up for a Successful M&A Mashable: 9 Ways Social Media Marketing Will Change in 2014 Citibank: How to Impress a Potential Investor

13 Jan 201522min

20 VC 001: Guy Kawasaki of Apple, Motorola and AllTop.com

20 VC 001: Guy Kawasaki of Apple, Motorola and AllTop.com

Welcome to the 1st episode of The Twenty Minute VC, on today's show we have Guy Kawasaki, Guy is the Founding Partner of Garage Technology Ventures, a seed & early stage venture capital fund investing in extraordinary entrepreneurs with unique technologies. Previously, he was Chief Evangelist of Apple Inc and an advisor to the Motorala Business Unit of Google. Guy is also the author of many best selling books including the recent best seller, The Art of Social Media: Power Tips for Power Users. In this episode we delve into: Why Guy made the transition into the VC industry? What is the most important aspect for a startup to have? What drives Guy insane about startup founders today? What books Guy gives to aspiring entrepreneurs? What software & apps Guy cannot live without? We then finish on a quick fire round where we discover Guy's thoughts on the future of Amazon, Tesla and whether we really are in the midst of a tech bubble. All of the products mentioned in todays show can be found at www.thetwentyminutevc.com If you love the show, please do leave a review on the iTunes store and don't forget to subscribe!

13 Jan 201519min

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