Confluence.VC

Confluence.VC

By Clay Norris and Tyler DeanBusinessEntrepreneurship
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Confluence.VC episodes

  • #82 - Data-driven LP investing with Jake Kupperman (Principal @ Level VC)

    Guest: Jake Kupperman (@jbkupperman)

    Company: Level Ventures

    Location: New York, NY

    Background: Level is a leading data-driven investment manager focused on technology innovation. Their team thinks about venture investing differently than most, and they apply deep levels of data science to inform their decision-making process.

    Talking points (five-second version):

    • The human aspect of venture capital becoming more data driven
    • LP value creation to venture funds
    • Non-obvious differences between working in venture and working at a fund of funds
      • 22 min
    • #80 - How to use programmatic SEO to reach 200k monthly unique site visitors with Nico Cerdeira (Founder @ Failory)

      Guest: Nico Cerdeira (@nicocerdeira)

      Company: Failory

      Location: Buenos Aires, Argentina

      Background: Failory is a content side for founders, and Nico has led their team for the past five years. Their team has mastered their marketing, and their site brings in hundreds of thousands of unique visitors per month. They use programmatic SEO to make this happen, and we cover more of the details in this talk.

      Talking points (five-second version):

      • The fundamentals of programmatic SEO
      • How Failory reached 200k+ unique visitors / month with a team of one
      • Ways to monetize a content site
      • Lessons on how companies have found product-market fit

        • Key takeaways (30-second version):

        • If you're ignoring search trends, your business has no shot. You have to win attention in today's world. Search trends tell you where attention lives today.
        • Programmatic SEO is about building thousands of pages to capture long tail search demand. You do this by keeping the structure of the page consistent and mapping information to that structure.
        • You can learn a TON by observing people and companies that have won at programmatic SEO. Nomad List, Zapier, and Failory are three companies to study.
        • Increasing prices is the best way to grow top line. This can be uncomfortable if you're starting out.
        • Sponsorships < affiliate programs < subscriptions. All business owners prefer recurring dollars over transactional dollars. If you warrant sponsorship, use it to earn recurring revenue down the road.
        • Lack of PMF is the biggest reason startups fail. If you want to save yourself time, money, and heartache, check this out.
        • You want ruthless feedback instead of passive compliments. The best way to pre-sale is to justify demand first.
          • 21 min
        • #79 - Running an angel group vs. running a traditional fund, subsections of proptech worth betting on, and growing a paid community to 200 members with Matt Knight (Founder @ Proptech Angel Group)

          Guest: Matt Knight (@JustMattKnight)

          Company: Proptech Angel Group

          Location: Atlanta, GA

          Background: Proptech Angel Group is an angel group out of Atlanta that, as the name suggests, invests in companies shaping the future of real estate. The group has grown to ~200 members, and Matt is the founder and leader of the group. If you invest in proptech, he's a great guy to know.

          Talking points (five-second version):

          • Running an angel group vs. running a traditional fund
          • Subsectors of proptech worth betting on
          • Non-obvious takeaways growing a paid community to 200 members

            • Key takeaways (30-second version):

            • Angel groups are a great source of inside information. If you're looking to get answers to questions you can't find on Twitter, try an angel group.
            • Angel groups are slow because members notoriously don't have free time. Many of these people are running their own companies, so chasing down capital is the biggest con to running an angel group.
            • You have much more flexibility running an angel group than a traditional fund. This is the two-sided coin of having less structure.
            • You can learn things academically, but you don't really understand things until you get anecdotal evidence. To better understand academic concepts, practice them in real life.
            • Any community is going to follow a Pareto's principle. 20% of members will produce 80% of the value. Find those people, and reward them to keep them engaged.
            • When you're in an up-cycle, everybody wants things that are growing to expand revenue. During a down-cycle, people start focusing more on cost-cutters and other things that can streamline operations to reduce overhead.
            • People are renting for longer periods of time for a few different reasons. Some are priced out as home prices have increased, but others are choosing to avoid homeownership because it is more convenient for them to rent.
              • 24 min
            • #78 - Alternative ways to build track record with Mack Kolarich (VP @ Assure)

              Guest: Mack Kolarich (@MackKolarich)


              Company: Assure


              Background: Assure is the OG and most-used special purpose vehicle platform. They help anybody running SPVs by handling all of the administrative work that you don't have time for. Mack is a VP, and he also leads up their analytics team to leverage data to better understand trends.


              Talking points (five-second version):

              • Perspectives on building track record
              • SPV trends
              • Takeaways on innovation within the VC tech stack


                • Key takeaways (30-second version):

                • Managing SPVs is more complex than you think. When it comes time to launch your first SPV, you want to go with an SPV provider that has seen everything before.
                • SPVs aren’t just for VCs. Real estate funds, crypto funds, broker dealers, and others use SPVs to pool funds.
                • 50% of funds admitted to sacrificing diligence to get into deals. This was one of the takeaways from the survey we ran with Assure earlier this year on how junior VCs are looking at special purpose vehicles.
                • The main reason that investors aren’t building their personal track record is a lack of capital. SPVs offer a way around this.
                • Syndicate leads are competing for LP attention today. LPs today are backing 20-30 different syndicates, and this optionality on the LP side is making it harder to get deals done.
                • The number of family offices participating in SPVs has dropped in half over the past year. However, those that have stuck around have doubled the size of their investment.
                  • 48 min
                • #77 - Investing in the future of finch with Drew Glover (General Partner @ Fiat Growth)

                  Guest: Drew Glover (@DrewBailer)

                  Company: Fiat Growth

                  Background: Fiat Growth is an emerging VC focused on supporting and growing the next generation of fintech companies.

                  Talking points (five-second version):

                  • Differences in evaluating and investing companies at different stages of the lifecycle
                  • Overcoming the hurdles of selling into financial services
                  • Subsectors of fintech that Drew and the team are diving into
                    • 49 min
                  • #76 - Portfolio construction and scenario planning with Anubhav Srivstava (Founder @ Tactyc)

                    Guest: Anubhav Srivastava (@anubhav0313)

                    Company: Tactyc

                    Background: Anubhav is the founder and CEO of Tactyc, a venture portfolio construction, performance forecasting, and scenario planning software for data-driven funds. Get started with a 30% discount on their Construction and Solo plans by using the code CONFLUENCE30 at checkout.

                    Talking points (five-second version):

                    • Why fund managers should never be creating spreadsheets
                    • The importance of portfolio construction and scenario planning
                    • What's going on behind the scenes in the venture services market

                      • Key takeaways (30-second version):

                      • Funds that are shutting down right now are going to miss out on some of the best opportunities. Valuations are down, founders still need capital, and investors that wait on the sidelines are going to miss the upside. Scared money don't make money.
                      • Especially at the pre-seed, revenue shouldn't be prioritized highly. Product-market fit and having early indicators of traction matter more than immediate revenue.
                      • More and more opportunities are popping to syndicate and tag along into deals they're already doing.
                      • Portfolio construction is a process. You usually have to lay this out in the fundraise.
                      • A good portfolio construction strategy is an evergreen asset you can keep using to manage investment decisions going forward. The better you lay this out, the better you can stick to your strategy over the lifecycle of the fund.
                      • Your primary goal as a GP is not to create spreadsheets. It's to get into deals and raise capital from LPs.
                      • Most up-and-coming venture services providers are collaborative and are building out products with a focus on integrations. Most of the traditional venture services providers are exclusive and want to build a one-stop shop for VCs. It's easier to see this on the inside, but it holds true.
                      • Australia is one of the fastest-growing venture capital markets in the world. According to Anubhav, they have clients over there, and they have some of the best internal processes he has seen.
                      • Startups need most help around distribution. If you want to actually be helpful to your portfolio companies, help them get the word out.
                        • 50 min
                      • #75 - Community, capital, and the future of venture with Jacob Peters (General Partner @ House Capital)
                        • Guest: Jacob Peters (@J__Cub)
                        • Company: House Capital
                        • Role: Co-Founder & General Partner
                        • Background: House Capital is the venture arm of Launch House. They invest ~$100k checks to support builders of the next Silicon Valley, and all of their portfolio companies get lifetime access into Launch House.


                          • Talking points (five-second version):

                          • How the younger generation is influencing investment
                          • What the future of venture looks like
                          • Evaluating community-led companies
                          • Non-obvious things that make great communities
                            • 50 min
                          • #74 - Seeding the next era of fund managers with Mike Suprovici (Head of Acceleration @ VC Lab)
                            • Guest: Mike Suprovici (@msuprovici)
                            • Company: VC Lab
                            • Role: Head of Acceleration
                            • Background: VC Lab is the leading venture capital accelerator for fund managers. The program is 16 weeks, it's free for participants (once accepted), and the goal is to help participants reach their first close.

                              • Talking points (five-second version):

                              • The types of people that are most-likely to become emerging managers
                              • The most challenging parts about starting your first fund
                              • Non-obvious things about pitching LPs
                                • 34 min
                              • #73 - Building and scaling online communities with David Kobrosky (CEO @ Intros AI)
                                • Guest: David Kobrosky (@thebrunchguy)
                                • Company: Intros AI
                                • Role: CEO
                                • Background: Intros AI helps automate introductions to help communities build stronger connections. We use their software to help our community make more meaningful relationships, and Confluence premium members can sign up for that service here.

                                  • Talking points (five-second version):

                                  • What makes a great place to gather
                                  • Differences between Web2 and Web3 communities
                                  • Similarities between choosing jobs and communities
                                    • 32 min

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