Instinct. 'Ecosystem' #21
Your weekly guide on tech news and early stage fundraising - democratizing access to the venture capital for less networked founders and junior VCs.
Hello and welcome to issue #21!
Gut instinct. In venture, having a good sense of judgement is critical. In fact, according to Naval Ravikant(Co-Founder, AngelList), judgement is more important than access to deals and to capital.
Without it, you’ll end up with a bad portfolio; other investors won’t back you; you’ll lose your money; and your brand will suffer.
A person may have good judgement in some areas and poor judgement in others. In early stage investing, it takes five to fifteen years to figure out if you have it or not.
Judgment is the preparation you do before a deal arrives so that your subconscious can process it quickly. Early-stage investing is more about gut feel than due diligence.
His statements made me reflect on the importance of not discrediting your gut instincts - in work and in life. Do you trust your intuition and what role does it play in your decision-making?
Until next week 👋
#EcosystemGiants Events
I always say I am beyond excited when announcing the #EcosystemGiants guests - and I do mean it each time. The person who is joining me for the next session is one of my very early role models in tech. Amali de Alwis MBE FRSA is the UK managing director of Microsoft for Startups(which supports leading B2B tech companies grow with Microsoft) and was CEO of Code First: Girls (a multi award-winning training company focused on increasing diversity in tech). She is one of the most influential women in the UK IT industry and drives change by example - empowering thousands of women to learn programming skills and discover new careers in technology. We will talk about the need for greater diversity in tech & venture, creating the leaders of the future and ways startups can work together with large corporations. RSVP here to join the conversation at 5pm GMT on Tuesday 1 December 2020.
Supported by Kaiku, ParlayMe and Startups Magazine.
Stay tuned for the key points from last week’s discussion on whether the VC pitch process is failing female entrepreneurs.
Innovation Ecosystem Updates
Whether you are an investor, a founder, an operator, a corporate or a friend. The top news stories this week you may find of interest.
Going public. Wish and Affirm Join Airbnb and DoorDash to fuel year-end IPO boom (Bloomberg).
Massive rounds. ‘Uber for trucks’ Manbang raises $1.7 billion in a new round from investors including SoftBank Group and Fidelity (Benziga). E-commerce delivery startup Paack lands $53 million (Tech.Eu). Forter pockets $125 million in a Series E funding to combat e-commerce fraud with AI (VentureBeat).
New funds. Andreessen Horowitz (a16z) closed two funds totaling $4.5 billion, bringing up the firm’s AUM to $16.5 billion (Techcrunch). London-based Round Hill Ventures holds first close of €200m Proptech fund (Property Funds World). Astanor Ventures launches a $325 million “Global Impact Fund” concentrating on food and agriculture technology (Techcrunch).
Wins for women. INC’s Top 100 women entrepreneurs of 2020 and their tips on getting funded. One of the biggest names in VC, Index Ventures, appoints a female leader, Adrianna Ma as chief operating officer.
Trending. The 100 best inventions of 2020 (TIME Magazine’s annual list of groundbreaking innovations). Four of Europe’s largest cities embrace micromobility to drive out cars (Techcrunch). Online holiday sales to increase by at least 20% in the US (Techcrunch).
Funder
Are communities the next phase of online customer engagement? Robin Dechant (Associate, Point Nine Capital) on building communities in B2B - tips, tricks and the successful examples
Sarah Tavel (General Partner, Benchmark) on building in private, winning in a ‘winner-takes-all’ market and time management
Founder/Operator
Remember, every time you slap a label on someone and put them in a box, you filter what you see. You make your world smaller, simpler, and less reflective of reality. As novelist Toni Morrison once wrote, "The definitions belong to the definers, not the defined."
Polina Marinova Pompliano (Founder and Author, The Profile) on how labeling determines our reality and view of the world
From resuscitating revenue(from a five digit monthly ~ zero ~ $100M+ a year), to hiring for executive roles and handling severe team-wide burnout - Steve El-Hage (Co-Founder and CEO, Drop) shares the five critical lessons he’s picked up as a first-time founder
Twitter Highlight
Dan Rose, Chairman, Coatue Ventures
Sarah Hodges, Partner, Pillar VC
Startup of the week
A disposable camera app to help you live in the moment
Dispo, a social media network where the photos you take will only be developed the morning after. The delay gives users the opportunity to enjoy the present instead of obsessing over their photos immediately after they are taken. A notification is sent out once the images are live to view. The startup is also the first investment of Alexis Ohanian’s new VC fund 776.
Tweet @DispoHQ to share they were featured in ‘Ecosystem’!
Startup Go-to Resources
Talis Knowledge Hub: a one-stop shop (online library) for founders with curated resources, gathered from experts across the VC and tech sectors - from raising funds to hiring
Sequoia Partner Roelof Botha on evaluating founders/markets, empathy and vulnerability in venture(20VC) - "He who has a why to live can bear almost any how."
Y Combinator's Guide to Seed Fundraising - from why and when to raise money to what not to do while communicating with investors
Dream, Girl: A documentary showcasing the stories of inspiring female entrepreneurs
No-warm-intro-required investor list - a spreadsheet with contact details of VCs you can strategically reach out to cold.
CEO and Co-Founder of AngelList Naval Ravikant's AMA is a must read - value-add tips to succeed in business and lifeThe
All Raise Fall 2020 Reading List - recommendations from inspiring female investors, founders and operators