2 x tech CEO/Founder. I now help CEOs scale, leverage AI, navigate M&A, and build market-leading tech products customers love. Also: Investor | NED | Forbes Business Council.
This post is great for Startmate, but don't ignore the headline: "9 out of 10 times VC loses money". This is a truth a lot of startup founders just don't get... when you take VC, you think you've made it... but *most of the time* a VC writes a check it goes sideways. Getting VC is NOT a magnificent milestone... it's the start of a very risky journey. Think about that: your investor comes to your board meeting... and 8 or 9 out of every 10 board meetings they go to they know "this company ain't gonna make it". I'm not against VC's and I had a terrific VC in my company, but I don't think enough founders *understand* the realities of venture capital, *particularly* in Australia, where the whole ecosystem is quite immature and a long way behind the US. #VentureCapital #fundraising #VC #startups #founders
CEO @ Startmate / Founder @ Puddle Pod (acquired)
[Exlusive AFR] 9 out of 10 times VC loses money. But when it works, it really works - how $35k turns into $2.1m: 👉 AFR article in the comments At Startmate, we raise and invest $6m every year. Currently, backing 30 out of 1,200 companies that apply (Top 2%). 13 years later, the funds have world-class returns: 🔥 4 are in the Top 5%. 🔥 9 are in the Top 25% How? We believe in our founders all the way in the beginning and forever after. Bugcrowd is a great example. The initial $35k investment turned into $2.1m. (Note: now we invest $120k) But we love Bugcrowd. So we 👉 only sold off 60% of our position for the 2013 fund to return 6x cash on cash DPI for our investors. 👉 as well as bought new shares through our Continuity Fund. Early investors get an incredible return, with a remaining massive upside. New investors get to tap into great Startmate Alumni. 💰 We raise a new fund every 6 months, if you want more info - hit me up!
