You need to develop a thesis. Unless you’re just going to willy nilly shoot money here and there, develop a thesis.
TweetShareShare As part of our Founders + Funders SF 2019 summit, held in partnership with Seneca VC, we brought together an exciting group of startup founders and investors for a day of learning, networking and growth.
How Portfolia’s model works is that our goal in four years is to activate 100,000 women and others who want to invest in a model of venture capital where we go in and we back the companies that we want in the world, and bring our buying power and our social networks to those companies. We do multiple funds in a year, and we have 249 individuals in each fund. It’s completely transparent, even educational.
Stepping back and taking a look at the space, we’ve seen a lot of funds enter the market in the past two, three, four years in a higher volume than the couple of years before then. Some are led by people who should be leading funds. Some maybe aren’t [laughter].
Let’s talk about the different levels of investors. From a risk perspective, what do you see being some of the differences between being a solo investor or part of a group? So you’ve just gotten into angel, you’re doing your own couple of solo deals, maybe then you become part of an angel network, then maybe you step into a micro VC fund.
But if you’re investing in that space with others that invest in that space who’ve been doing it for five or six years, they’ll go, “Oh, my gosh. There are three companies like that in Boston. There are five in Singapore. There are 25 total.” You have to know the landscape. You want to have others out there that have been doing it for a while that can give you that kind of that grounding.
Finally, as you would imagine, I think that groups like mine are an ideal way to get started. In the venture world, if you can get into a top venture fund, the minimum is usually about $5 million. If you’re an entrepreneur that’s been cashed out, they’ll often take you in for $250,000 or $500,000. But that’s about the minimum dollar amount.
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