Anthony Miclet

Summary: Keith Rabois, managing director of Khosla Ventures, is on a mission to turn Miami into the next Silicon Valley and has been actively promoting the city as a tech hub. Despite some challenges and opposition, Rabois remains optimistic about Miami's potential and the growth of its tech ecosystem. Key takeaways: Keith Rabois is determined to make Miami the next Silicon Valley and has seen progress with a growing number of seed investments in the city. Khosla Ventures, where Rabois works, has made multiple investments in Miami, including one into a startup aiming to "reinvent education." Rabois continues to split his time between Miami and San Francisco, but believes that Miami offers a better quality of life and potential for building a thriving tech community. Counter arguments: Some big name investors, such as Andreessen Horowitz, have pulled out of Miami, suggesting that the city does not offer the same opportunities as other established tech hubs. Miami still has a relatively small share of total U.S. seed investments (2.6%-3.5%) which may indicate a lack of resources and opportunities compared to other cities. #venturecapital

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A new flood of fresh funds is reshaping the venture capital landscape! 🚀 Recent highlights include TVM Capital Healthcare’s $250M Afiyah Fund LP, SVC's $30M investment into General Atlantic’s private equity fund, Golden Gate Ventures' $100M MENA-focused fund launch, and Investcorp's $570M fund closure. These announcements signal a broader trend of escalating financial commitments within the industry. MEA funds are heating up! 🌡️ Our data reveals a 74% YoY increase in the number of MEA-based funds being financed as of May 20th, 2024. Since Q4’23, there has been a notable surge in regional funds securing capital, with international investors also establishing localized funds. Stay informed with the latest trends in VC activity: https://lnkd.in/dP6ZkmCd By MAGNiTT Repost by : Salem Bagami Chief Executive Officer Digital Transformation Company & Managing Director 2080 Ventures Email: [email protected] Website: www.2080.ventures #VC #Funds #Investing

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If you're building a fintech startup, you likely know of this investor, but just in case... This week's findfunding.vc spotlight is on Neil Kapur from TTV Capital. He: 🛫 Is based in SF & Atlanta 💲 Has spent time at Google in consumer-facing payments & at two fintech startups  🏔️ Loves alpine mountaineering and has climbed Kilimanjaro, Denali, Rainier, and more!! Amongst founders, Neil and the team at TTV Capital , including Gardiner Garrard, Mark Johnson, Sean Banks, Lizzie Guynn, and Laney Lewis are known for saying “lift, not lean.” They believe that their job as investors is not to create work for founders, but instead ask the right questions and help navigate to the best outcomes. Knowing Neil well personally, he's not only my go-to person for anything related to fintech but I can also highly recommend having him on your cap table - he's the kind of human you want to have in your corner during both good times and bad. Make sure to: ✉️ Pitch him at [email protected] ➡️ Follow TTV Capital on LinkedIn For more, check out our funder spotlight card below along with TTV Capital's profile on findfunding.vc (link in comments).

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Are investors in Africa really missing a $5.4 TRILLION (🥵) “middle of the pyramid” market opportunity? We already know the song 🎵 ☝🏽 VCs want equity in high-growth startups with world-class teams, in blue-ocean markets, with opportunities for exit at 50-100x the current company value. Pure power law: not within the reach of most companies. #facts ✌🏽 Banks’ loans require a lot of paperwork, optimal credit scores and assets as collaterals. They end up servicing secure, formal businesses for high-value transactions. Very few of them in the continent. #facts 🤟🏽 Micro-credit focuses on low amounts, short repayment periods and (relatively) higher interest rates to offset the risk. Good for the bottom of the pyramid. #facts What about the “silent” majority of the small businesses? These businesses: - are mainly informal - they do not have a credit score - they cannot give any asset as collateral - too large for micro-finance but too small for traditional bank loans However: - they need capital for productive assets (refrigerators, vehicles, tanks, tractors, etc..) 🚙 - who are used to generate positive cash flows 💰 So why can't we find a smart way to finance them? This is exactly what Untapped Global Smart Asset Financing model is about. I‘ve been following them for a couple of years now and I must say I am a fan 😻 (and a fan of the companies they invest in too, like Wahu Mobility Ltd.) Let me know in the comments if you want to have a deep dive into how they work in the next issue of my newsletter: https://lnkd.in/e2t4nn9k

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Thanks Chinenye. I couldn't agree with you more. However while we work on this, we also have to be mindful of the fact that bias isn't just the problem in this data rather a combination of poor economy and bias. Of all these regions mentioned, Africa is the least performing market. therefore Davidson, naturally you would expect investors to do less there. They are not charity organisations but a venture set up for outsized returns.Therefore the major issue we should be discussing is, which sectors are receiving this funding in Africa? Are the investments coming to sectors that will lift the other sectors up fundamentally or to sectors that will window dress the issues? or Worst still the ones that will reap-off on the people and distort rather than disrupt the system. (eg Nigeria POS fintech and the real banking system. a discussion for another day). Until strong investments are made in the technology sectors powering manufacturing strong job growth in Africa be it REAL B2B eCommerce not repeating what is already being done, or B2C eCommerce that is truly efficient and cost effective. Equally important is the improvement in the purchasing power of the consumers via credit card system. in as much as Sub-Sahara Africa lacks good credit system that captures the average citizens and residents, B2C will continue to struggle. in as much as our logistics investments are predominantly in the last mile delivery rather than efficient crosborder logistics, both B2B abd B2C eCommerce will struggle to scale efficiently and profitability. So, it's time for the investors to do away with the low hanging fruits and start tackling the real issues that will empower and propel Africa economies. That's where the main bias lies.

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I was very disappointed when I read this post. It’s an example of a core problem with raising from VCs——bullsh*t criteria filters. It’s lazy and arrogant investing at its finest. 1- Passing because of a “signal”. This is just a weak excuse to not speak with a founder. If there is one thing I’ve learned as an investor, it’s that decks rarely tell the story well. With all the dynamics of early stage company building, relying solely on “minor flags” to pass is just a cheap excuse to not speak with someone. 2- Founder not “paying attention to detail”. Attention to the correct details is important. This type of “detail” is ridiculous. As an outsider, you have no idea what their document management is like. They may have updated the document that very day. You’re getting upset about naming conventions like it means that they can’t possibly build a billion dollar company. It doesn’t matter. 3- Being butt hurt when you realize you weren’t the top of their list. This one makes me laugh the most. What an arrogant stance to take. “Oh, I wasn’t your first call? Go jump off a cliff.” It doesn’t strike people like this that it may have taken months to network their way into the person that he knew so they would get an introduction so this investor would take it seriously? Note, “I was sent a fund deck the other day” means that it was a referral, presumably from someone they know and trust. 4- Fundraising must be tough because you’ve been in market for at least two months. Cut me a break. It’s hard for every company in this environment. Most of the best performing VC investments in history struggled to raise money in their first few rounds. And most of the company who raised huge amounts with no friction end up Hindenberging. This is so lazy and biased. These investors also tend to be logo investors—eg who else is committed to the raise. 5- Saving time by not taking the meeting. A VC cannot possibly take a call with every deck that comes across their desk. However, especially when it comes from a referral, and things sound “pretty good”, give it the benefit of the doubt. Especially when it’s so hard to tell a story to hundreds of investors who all have different expectations for “the perfect deck”. Your obligation to your fund LPs means you turn over every rock. Make the time. Pass it to an analyst to hear the full story. Don’t look for weak excuses like this to pass. If you’ve experienced at fundraising, I’m sure none of this is a surprise to you. Fundraising is extraordinarily difficult. If you’re new to venture fundraising, this is just one example in a sea of irrational behavior exuded by VCs and the analysts that filter deals for them. Buckle up. **Thanks to Alex Dunsdon for sharing this investor screenshot with his network first.

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If you’re looking for a great way to up your fundraising game this fall, check out my friends at Socap.ai (YC W23). They’re running a 4-week bootcamp for founders, offering two tailored tracks depending on where you are in the fundraising process. It’s perfect if you need a focused push and practical advice from seasoned founders. Definitely recommend giving it a look if you’re raising this season! You can easily apply on their site. #fundraising #founders

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For LPs, it’s returns. For founders, it’s scaling. For VCs, it should be relationships. Why? The best investments come from trust—not pitch decks. Founders want partners, not just checks. And LPs back VCs who nurture relationships that yield consistent returns. “Capital is replaceable. Relationships compound.” #VentureCapital #FoundersJourney #LPs #InvestingInTrust

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Great analysis of recent #vc trends. Thank you Kaela Roeder and Technical.ly for including my thoughts in the piece. My "expanded" two cents below for anyone curious... It is easy to get excited by what is happening in venture capital these days given the advent of AI. However, for early-stage startups, the numbers tell a more nuanced story. Early-stage deal volume in Q4-2023 was down 66% from the peak (Q4-2021) and a quarter of the deals were down rounds. In 2024, volumes stayed fairly flat relative to 2023 levels (signalizing a normalization to pre-pandemic VC activity) and 32% of deals were down rounds in Q1 (a worsening since year end). Early-stage valuations have spiked back up this year – a pleasant boon for some founders. But, this inflation is largely driven by the excitement around AI and strong demand for capital-efficient, high-growth companies. Many startups have tried to become “dot AI” businesses overnight; however, such tactics are not the “silver bullet” to fundraising challenges and growth. With limited time and capital, funds are on the hunt for companies with bulletproof fundamentals or those with exponential growth potential. If you don’t check one of these two boxes, the VC world looks fundamentally different for you. Locally, there are some positive tailwinds. The D.C. area has outpaced other metro areas in adding AI jobs due in large part to the defense industry and an increasing number of tech companies opening-up federal outposts. Over the long-term, this will be very positive for D.C. startup growth and talent.

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How to create your first VC Fund in Emerging Markets ?! Having navigated the journey, pains, and gains of establishing Georgia's first VC fund and accelerator focused on U.S.-oriented products, I want to share the lessons I've learned along the way. Starting tomorrow, I’ll be sharing daily posts aimed at those who aspire to start and grow their own venture funds in emerging markets, where people often prefer to invest in real estate, restaurants, or keep money in cash. These posts will cover a range of topics, including: - Fundraising Strategies: Tips on attracting LPs in emerging markets and overcoming skepticism about the potential high returns of local startups. - Building a Venture Partner and Advisory Team: Insights into assembling the right people to support your fund's mission. - Navigating Regulatory Landscapes: Guidance on legal considerations based on my experiences with VCLab, crafting recommendations for the Azerbaijani government, and securing a license for Georgia’s first registered VC fund. - Deal Sourcing and Evaluation: Why I decided to start in Georgia with early-stage startups, the addition of an acceleration program, and the focus on U.S.-targeted products. - Growing Pains and Gains: Personal challenges and successes in fund management, especially in a market where traditional investments still dominate. - The Importance of Collaboration and a Systematic Approach in Venture Capital: Why working together and building a structured approach matter in this field. - Ethical Norms in Venture Fund Management - And Other Topics My goal is to provide practical advice and foster a community for current and future fund managers. Whether you're just starting out or looking to scale, I hope these insights will be valuable on your journey. Stay tuned for the first post tomorrow! Feel free to share this announcement with anyone who might find it helpful, and don’t hesitate to leave comments or questions below. Let’s grow together! Future Laboratory Ventures #firstvcfunds #vcfunds #VC #LP

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✨ Breaking: BS2 Ventures Announces New Fund.- Banco BS2 Ventures BS2 Ventures, the new corporate venture capital arm of Banco BS2, has launched with nearly $17 million (R$100 million) to invest in startups addressing challenges in the corporate finance market. The fund focuses on disruptive technologies in areas such as credit, payments, foreign exchange, and insurance. BS2 Ventures plans to invest in 12 to 15 companies (R$5 million each on average) and serve as a limited partner in 3 to 4 strategically relevant VC funds. https://www.bs2.com/ Please share to let other #Founders know For the ❤️ of Startups #Fusion42 #Startups #Venturecapital

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Our BankTech Ventures ecosystem at work! Kaitlyn Shevlin getting perspective from a bank-enabling company, ZSuite Tech, a partner, Ncontracts, and our banks on how they do 3rd party risk management and vendor due diligence better with tech companies and service providers. I love these productive conversations with multiple perspectives. So many insights and actionable suggestions. And it’s so cool to see my teammate organizing and leading this discussion! #banktechsummit #makingbanksbetter

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Growsari raised $80M+ to digitize Filipino corner stores ("sari-sari stores"). This B2B e-commerce play isn't unique. Similar startups exist in Morocco, Mexico, Nigeria... Margins in this business are razor-sharp. Lethal, potentially. Here's how Growsari's co-founder, Shiv Choudhury, thinks about them: " Margins are tight if you serve already-served stores. If you serve a store who already works with a distributor, you create a price war. I have seen this from close quarters, my family is in that line of business. This is the advice we gave clients at BCG: targeting a store with an existing distributor relationship fosters a pricing race and instability. We took a contrarian route, focusing on excluded sari-sari stores. This is harder and requires intense supply-chain reinvention. Ultimately, this exclusive reach gives us leverage with FMCG giants. If an FMCG player knows we’re the only ones to effectively reach certain stores, we can ask for higher margins. Today, 50% of GrowSari’s margins come from the ordering business. The rest comes from the financial services we offer, as well as our logistics business. The latter, named Tranko, is built on the same rails we built our own logistics on. The same trucks that deliver our goods can also deliver other companies’ products. Think about a small drugstore chain wanting to send goods to their franchisee outlet. Our truck is already going in that direction, so we can take that store’s product as well and cut their delivery price. Tranko is around 5-8% of our revenue and 10% of our operating margin. " Link to Shiv's full Realistic Optimist interview in the comments.

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Miami Tech: @A16Z’s Exit - Setback or Setup for Reinvention? Yes, A16Z is a titan in Venture Capital, but Miami's story isn't defined by one player. 🔭 Let's zoom out & consider the real game-changers for Miami. •Commercializing university research.🔬 •Developing homegrown talent pipeline. 👩‍🎓 •Supporting VCs who are committed to the long journey of Florida & Miami’s innovators.💡 • Leveraging Miami's unique place as a testing ground for ideas, especially at pre-seed. 🌊 •Ensuring Miami is a place with sufficient opportunity on ramps. 📈 Miami's diversity, global connections, increasing status as a hub of capital remain unmatched. This reset could be our catalyst for a more resilient, diversified tech ecosystem. Just this week we saw Miami founder, Joey Levy have a successful exit of Simplebet to DraftKings Inc. We win as an ecosystem when we play to our own unique strengths, not when we try to duplicate other players like SF or NYC. We are running our own race 🚀

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🔎Investing in Deep Tech? Not yet...🤦‍♂️ Check below why you should consider investing in Deep Tech startups and VC funds🤝 💡Hint: Deeptech VCs achieved an IRR of 17% in comparison to traditional Tech VCs IRR of 10%, according to a McKinsey & Company survey of 115 Deeptech VCs and 1,572 traditional Tech VC funds Thanks to Francesco Perticarari for sharing ✅ Looking to invest your capital into #VC funds?   🤝 Need warm #GP introductions?   📝 Selling #secondaries to increase liquidity?   🧐 Looking for co-investments (Series A/Series B)?   ▶ G+QUANT's link for inquiries: https://lnkd.in/gjC_EuTE     #VentureCapital #VentureFunding #VentureDebt #Fundraising #Innovation #Technology #Entrepreneurship #Investing #Network #Investors #LPs #GPs #EmergingManagers #FamilyOffice #Markets #Economy #Business #Founders #Startups #StartupFunding #ai #artificialintelligence #unicorn #secondaries #secondarydeals

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A lot of investors have been asking me what the major industries are in the Venture Miami Built in Miami Startup Program. Here's the industry breakdown across 214 new South Florida startups. TLDR: The South Florida startups are pretty diverse across industries. Here's the largest categories in order: - 16.2% AI & Machine Learning - 14.2% EdTech - 12.2% Healthcare - 8.5% Marketing & Sales Tech - 8.1% FinTech - 7.4% Sustainability - 6.1% Travel & Hospitality - 6.1% E-Commerce The smallest category: Cybersecurity at 1.2% There's an additional 50 startups that didn't complete the survey in time but we'll get that info updated by Demo Day June 20th. #BuiltinMiami

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Wing Venture Capital's Founder Docs project is a unique collection of startup wisdom, by founders, for founders. The authors of the docs are talented founders themselves, sharing their experience on the topics they are most passionate about. I'd like to highlight the contributions of Edo Liberty, founder / CEO of Pinecone. Edo writes about the special opportunities for the scientist / founder (and he is one of the best of this breed!), as well as some of the risks and challenges they face. I got a lot out of reading Edo's stuff and I suspect you will too! https://lnkd.in/g_wyRMiE

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