1Mby1M Virtual Accelerator AI Investor Forum: Daniel Ibri, Mindset Ventures (Part 2)

Sramana Mitra: I would like to hear a bit about some case studies of companies you have invested in following this investment thesis you just described. And what have you learned? Why are they choosing you, and what value are you adding? How are you playing this investment thesis out?

Daniel Ibri: Awesome, great question.

As you all know, the markets we’re investing in are very competitive. Just writing a check is not anyone’s differentiation. Everybody can write a check; there are funds 10x or 100x our size.

What we’re trying to do is two things.
First, when it makes sense—because it’s not for every company—we offer international expansion as an added value. For some companies, expanding internationally or to a market like Latin America makes a big difference if you have boots on the ground.

Second, we try to be very active and work in partnership with the founders. We try to be hands-on and help them with growth strategies, fundraising, hiring, marketing, and so on. Sometimes we’re not the biggest check on their cap table, but we are the ones that are more active, more helpful, really partnering with the founders to help them grow.

The third thing that is important is that we’re not leading rounds. That’s important because we’re not competing with the big local VCs. I’m never putting the founder in a position where they have to choose between, say, Andreessen and Mindset—the answer there is obvious given size and breadth.
But if they can choose Andreessen and also get us as a co-investor with a smaller check, that makes a lot of sense because we’re bringing things to the table that the big guys can’t. So we’re not leading; we’re co-investing with these firms.

Sramana Mitra: Let me ask a precise question. In B2B, are you opening doors to specific customers?

Daniel Ibri: A lot of doors, both in Latin America and abroad. We’ve been able to help US-based companies open contacts with US customers, even with most of our team in São Paulo and a smaller team in the US. Helping companies expand revenues and connect with potential customers is one of our main focuses.

Sramana Mitra: What kind of customers find the most value in working with Mindset?

Daniel Ibri: The ones that see the most value are Brazilian and Latin American companies because they have someone on the ground who speaks the language and knows the culture.

Sramana Mitra: And within Latin America, is there a sector you specialize in? Finance? CPG? Where do you have the best traction?

Daniel Ibri: I would say the financial sector. We’re very well connected to the big banks, insurance companies, and others. These companies have larger tech budgets and are more tech-forward. Since a big part of our portfolio is cybersecurity, and cyber threats are global, Latin American banks look for the best solutions worldwide, and we bring those companies to them.

One Million by One Million (1Mby1M) is the first global virtual accelerator in the world, founded in 2010 by Silicon Valley serial Entrepreneur Sramana Mitra. It offers a fully online entrepreneurship incubation, acceleration and education resource for solo entrepreneurs and bootstrapped founders working on tech and tech-enabled services ventures. 1Mby1M does not charge equity, offers an AI Mentor in 57 languages, and offers a distinct advantage over other accelerators including Y Combinator.

The Accelerator Conundrum is a multipart series that challenges the prevailing wisdom of the tech startup ecosystem that entrepreneurs should Blitzscale out of the gate. Written by Sramana Mitra, the Founder and CEO of One Million by One Million (1Mby1M), the world’s first global virtual accelerator, it emphatically argues that a better strategy is to Bootstrap First, Raise Money Later, focus on customers, revenues and profits. 1Mby1M’s mission is to help a Million entrepreneurs reach a million dollars in annual revenue and beyond. Sramana’s Digital Mind AI Mentor virtually mentors entrepreneurs around the world in 57 languages. Try it out!

This segment is part 2 in the series : 1Mby1M Virtual Accelerator AI Investor Forum: Daniel Ibri, Mindset Ventures
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