19 min listen
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…
FromThe Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
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…
FromThe Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
ratings:
Length:
44 minutes
Released:
May 29, 2023
Format:
Podcast episode
Description
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?
Released:
May 29, 2023
Format:
Podcast episode
Titles in the series (100)
20 VC 013: Frank Meehan Series A, Spark Labs and The Future of The Asian Tech Market: Frank is Co-Founder and General Partner at Spark Labs Global seed fund where he has invested in 40 companies in the US, UK and Asia. Previously, Frank was part of Horizon Ventures where he represented them on the boards of Siri, Summly and Spotify,... by The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch