Tobias Bengtsdahl’s Post

What are the most common questions experienced VCs ask Founders before investing? There are 3 types of questions. 🧭 Discovery These questions revolve around validating a go/no-go decision: fit with the fund’s investment strategy, potential returns, execution risk, and funding round size. 🚩 Red flags and deal breakers VCs probe Founders' motivations, co-Founder relationships, structure, broken cap tables, exit routes, and other VCs’ appetite for this deal. 🫣 The question that never gets asked What are VCs’ own cognitive biases when presented with investment opportunities? They may be primed positively or negatively, suffer from loss aversion, or only look to confirm an earlier belief. I describe a model of how intuition is made and should be kept in check in Venture Capital 👇 Link to the full post in the first comment below! #venturecapital

Over the weekend, I took a quick crash course on “Introduction to Venture Capital”. The world of Finance and Investments has always been a fascination to me. I had earlier read “The Intelligent Investor” by Benjamin Graham two years ago and tried to apply some of its principles to trading stocks on the NSE I was however surprised to learn of the inner workings of Venture Capitalism. The level of trust and high risk involved in venture capital intrigued me. I mean, it takes a high level expertise to commit investments into expertise you know are bound to fail while only expecting high returns on a few possible ones This week and beyond, I hope you find someone willing to commit the level of trust venture capitalists commit into businesses they invest in. #venturecapital #investments #risks

Hot take: 𝐈𝐧 𝐞𝐚𝐫𝐥𝐲-𝐬𝐭𝐚𝐠𝐞 𝐢𝐧𝐯𝐞𝐬𝐭𝐢𝐧𝐠, 𝐭𝐡𝐞 𝐢𝐝𝐞𝐚 𝐝𝐨𝐞𝐬𝐧'𝐭 𝐦𝐚𝐭𝐭𝐞𝐫. The first six months of venture building are always ambiguous. Founders might have a couple of problem areas they're interested in. After getting market evidence, we'll discover gaps in the ideas and pivot based on those insights. That's why at our investment stage, the Formation stage, the idea matters less. What truly matters are the founders and where we believe they can grow. As co-creators, FutureSight and the founders develop the ideas together.

It's a common misconception among private market investors that capital calls are unexpected. Similarly, some founders expect that capital calls are a source of immediate access to funds. In reality, capital calls require a complex interplay of careful timing, financial planning, and communication. Executed properly, capital calls can create tremendous benefits for everyone in the Venture Capital ecosystem. This BIP Ventures article explains how capital calls work and how VC funds use them to remain agile and able to help founders and investors capture opportunities. You'll learn: ☑️ What capital calls are ☑️ What role they play for VC funds, founders, and investors ☑️ Why capital calls are critically important and beneficial ☑️ How investors, founders, and VC managers can use capital calls to their benefit ☑️ Questions that HNWIs and founders should ask before aligning with a Reg D fund Get the information here 🔗 https://buff.ly/4c4xbeL #VentureCapital #Investing #CapitalCalls #PrivateEquity #HNWInvestors #StartupFunding #VCInsights #InvestmentStrategies #Founders #WealthManagement

Why are VCs wasting founders time? I'm hearing a lot of stories of VCs and other investors wasting a lot of time doing due diligence on founders they have no intention of investing in. Here's what happens: The founder reaches out to the VC who takes the meeting. They then spend several months reviewing documents, meeting the team, etc. After a while, they declare that they won't be investing because the founder is too early stage for them. There are a ton of good reasons why a fund may decide that the founder isn't a good fit for them. But it should be obvious from within 30 secs of looking at the deck whether they are at the right stage. So why take up so much of the founder's time and effort? I know one founder who spent 9 months talking to a VC. Last week they turned round and said actually the business is too early stage. The whole process was a huge waste of time and effort. A founder's time is their most precious resource and I hate seeing it get squandered like this. What's going on?

It's a common misconception among private market investors that capital calls are unexpected. Similarly, some founders expect that capital calls are a source of immediate access to funds. In reality, capital calls require a complex interplay of careful timing, financial planning, and communication. Executed properly, capital calls can create tremendous benefits for everyone in the Venture Capital ecosystem. This BIP Ventures article explains how capital calls work and how VC funds use them to remain agile and able to help founders and investors capture opportunities. You'll learn: ☑️ What capital calls are ☑️ What role they play for VC funds, founders, and investors ☑️ Why capital calls are critically important and beneficial ☑️ How investors, founders, and VC managers can use capital calls to their benefit ☑️ Questions that HNWIs and founders should ask before aligning with a Reg D fund Get the information here 🔗 https://buff.ly/4c4xbeL #VentureCapital #Investing #CapitalCalls #PrivateEquity #HNWInvestors #StartupFunding #VCInsights #InvestmentStrategies #Founders #WealthManagement

Over my entire career I’ve helped companies raise 𝗺𝗶𝗹𝗹𝗶𝗼𝗻𝘀 in equity. I took years of experience from working at some of the top financial institutions in the world and started building unique systems that could help startups raise anywhere from 1-50 million. Our system is the only one out there. We connect businesses with over 10,000 investors. -> VCs -> Family offices -> High-net-worth individuals One of the biggest issues I see people make while raising equity. 𝗧𝗵𝗲𝘆 𝗵𝗮𝘃𝗲 𝗻𝗼 𝘀𝘁𝗿𝗮𝘁𝗲𝗴𝘆. At Culmen we create a personalized approach. The “Dream 25” strategy. It connects you with your top 25 best matched investment institutions based on your specific raise. We are transforming the capital raising world. Do you want to learn more about the “Dream 25” strategy? Send me the DM “Dream” and let’s connect.

Here’s an insightful look at the VC landscape in 2024 from @Sam Blum: - We’re still digging out of the 2023 slump: VCs raised $57 billion last year — a 67 percent decline from 2022, when $172.5 billion was raised - Last year, 459 funds closed on funds, the lowest on record since 2013 Where do things go from here? “On the heels of its unprecedented growth over the last decade, it's possible that the space is just too saturated to sustain itself,” Blum writes. But it’s not all bad news. - Interest rate cuts could spark another wave of investment - Investors may be more inclined to chase profitable companies, rather than growth at all costs This pivot from growth at all costs may have a positive impact on the industry. Investing behind growth > chasing growth at all costs What do you think? Does the venture capital industry need a reckoning? https://buff.ly/3wJuajW @Yu Galaxy #venturecapital #innovation

Curious why some angel investments open more doors to VC firms than others? 4 #notfinancialadvice things to consider if you're trying to create an angel portfolio to help you break in 👇🏻 1️⃣ 𝗜𝗻𝘃𝗲𝘀𝘁𝗺𝗲𝗻𝘁𝘀 𝘆𝗼𝘂 𝘀𝗼𝘂𝗿𝗰𝗲 > 𝗜𝗻𝘃𝗲𝘀𝘁𝗺𝗲𝗻𝘁𝘀 𝘆𝗼𝘂'𝗿𝗲 𝘀𝗲𝗻𝘁 There are so many angel groups, newsletters, and platforms where you can get deal flow passively. But VCs want to know that you can source deal flow 𝗮𝗰𝘁𝗶𝘃𝗲𝗹𝘆. Which means: 👉 Getting yourself in front of hard to reach founders. 👉 Finding off-the-beaten path opportunities no one else saw coming. 👉 And winning allocation. That's a much better proofpoint for a VC than a check you write into an AngelList SPV that's open to pretty much anyone. 2️⃣ 𝗜𝗻𝘃𝗲𝘀𝘁𝗶𝗻𝗴 𝗮𝗹𝗼𝗻𝗴𝘀𝗶𝗱𝗲 𝗯𝗿𝗮𝗻𝗱 𝗻𝗮𝗺𝗲𝘀 > 𝗜𝗻𝘃𝗲𝘀𝘁𝗶𝗻𝗴 𝗮𝗹𝗼𝗻𝗴𝘀𝗶𝗱𝗲 𝗼𝘁𝗵𝗲𝗿 𝗻𝗮𝗺𝗲𝘀 Well known angels and VCs investing in the same things you did? That will generally look good to a VC who is thinking about bringing you on, regardless of when those investors wrote the check. 3️⃣ 𝗜𝗻𝘃𝗲𝘀𝘁𝗶𝗻𝗴 𝗕𝗘𝗙𝗢𝗥𝗘 𝗯𝗿𝗮𝗻𝗱 𝗻𝗮𝗺𝗲𝘀 > 𝗜𝗻𝘃𝗲𝘀𝘁𝗶𝗻𝗴 𝗔𝗙𝗧𝗘𝗥 𝗯𝗿𝗮𝗻𝗱 𝗻𝗮𝗺𝗲𝘀 If those well known investors I just mentioned invested AFTER your check went in, that's even better. Because it shows VCs that you had the inside track. And maybe a unique insight, too. 4️⃣ 𝗠𝗮𝗿𝗸𝘂𝗽𝘀 (𝗰𝗮𝗻 𝗯𝗲) > 𝗥𝗲𝘁𝘂𝗿𝗻𝘀 A 3X return on an angel investment that flipped fast could be great for your bank account. But not as great for your VC job search. Unicorns (even paper ones) are the name of the game, because a 3X can't return a VC's fund.

What does venture-capital look like post reset? I had the honor and pleasure to interview some of my favorite allocators on stage at SuperVenture yesterday. Here’s what resonated with me: - Diversification. Jasmine N. Richards, CFA’s emphasis on portfolio diversification isn't just strategic—it's fundamental to thriving in this new era. The most successful LPs maximize returns by picking strategies overlooked by others. - Discipline. Laura Thompson’s insights on pricing discipline and the importance of cash/DPI echo a timeless truth in venture capital: discipline is non-negotiable. Rigorous underwriting processes are the backbone of sustainable success. - Intentionality. Octavio Sandoval, CFA, CAIA’s call for challenging our biases strikes a chord with me. In a world brimming with data and opinions, the true skill lies in fostering a culture that values diversity of thought and maximizes performance. - Community. Derrick Tang’s comments on collaboration among LPs reflect a broader, vital shift. The future of venture capital lies in our ability to work together, pooling resources and wisdom to elevate the next generation of managers. This conversation wasn't just invigorating—it reinforced my conviction in our trajectory here at Mighty Capital. We’re building one of the major franchises of this new era, anchored in our culture of respect, grit and adaptability. My heartfelt thanks to the #superventure team for orchestrating such a thought-provoking conference. Here's to the journey ahead!