The Hard Part with Evan McCann

Patrick Chung from Xfund

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Patrick Chung is the Managing General Partner of Xfund.


Xfund is an early-stage venture capital firm built to back entrepreneurs who think laterally and experiment across disciplines.

They are a pioneering partnership between some of the country’s most successful venture capital firms and some of the world’s best research universities in the United States and abroad.


Patrick's bio is fascinating!

  • Bachelor, JD and MBA from Harvard
  • Masters from Oxford
  • McKinsey
  • Founder of ZEFER which hit $100M annual revenue and was acquired
  • Partner at NEA


    • Takeaways

    • Patrick's journey from Harvard, Oxford, McKinsey and into venture.
    • Learnings from being a VC at NEA.
    • The genesis story behind Xfund and its focus.
    • Why founders are like artists.
    • Meeting Sam Altman 20 years ago and investing in his first company Loopt.
    • Cultural shifts are encouraging more graduates to pursue entrepreneurship.
    • University bias often leads to safe career choices and how to change that.
    • Providing term sheets upon graduation provides real choices for potential founders.
    • Talent over industry.
    • The importance of co-founders.
    • Navigating university policies on IP.


      • Chapters

      00:00 Patrick Chung's Journey: From Harvard to Venture Capital

      03:06 The Empathy of Founders: Insights from the Investor Side

      06:04 Identifying Great Founders: The Xfund Approach

      08:53 Cultural Shifts in Entrepreneurship: A New Generation of Founders

      12:06 Navigating University Bias: The Challenge of Safe Choices

      15:11 Creating Real Choices: The Experiment Stake Initiative

      18:07 Finding Talent: Where to Discover Future Founders

      21:09 Sector Focus: Talent Over Industry

      23:56 The Power of Co-Founders: Trust and Collaboration

      27:07 Selecting Schools: The Power Law of Startup Success

      30:05 Unlocking Entrepreneurial Potential: Tools and Strategies

      32:47 Commercialization and IP: Navigating University Policies

      36:07 Personal Insights: Dealing with Hard Times


      Keywords

      Patrick Chung, Xfund, venture capital, entrepreneurship, founders, university startups, empathy, investment, startup culture, commercialization

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      The Hard Part with Evan McCannBy Evan McCann