Sramana Mitra: I think there is a lot of garbage and a few good ones. What are your pointers for people who are trying to understand good ICO examples? What are ones that you consider are good credible ICO’s? Andrew Romans: Rahul Sood was the head of Microsoft Ventures. I knew him there. He left
Sramana Mitra: The only danger I’m seeing in what you’re saying is there are a lot of artificially-bloated billion-dollar valuation companies out there. Your point is well-taken that showing that you can get to these high valuations and up round is great for your LPs. Some of it right now is also distorted just because
Sramana Mitra: How do you process unicorn mania? Andrew Romans: If you look at how many companies achieve a billion-dollar valuation and how many venture financers there are in this region, it’s mathematically not probable that the VC will get into a unicorn. I think it’s important to develop a financial model and a portfolio construction
Sramana Mitra: Now which kind of sectors do you have these special relationships? You said you don’t have it with Verizon. Andrew Romans: I don’t think it’s responsible for me to disclose LPs in an open setting. Sramana Mitra: You can talk about sectors right? Andrew Romans: On our website ehen you click on Team,
Sramana Mitra: Are you into B2B? Andrew Romans: We’re probably about 70% enterprise and 30% consumer. On enterprise, we’re more likely to go in very early. With consumer, when something comes to us from our network, we look for very strong unit economics where the CAC to LTV ratio is very impressive. We need to
Sramana Mitra: How big is the fund? Andrew Romans: We’re investing out of a $50 million fund that has a hard cap of a hundred. We’re already actively making investments. For your audience, we’re actively looking for deal flow. If the company has not raised at least a million dollars of outside non-founder funding capital,
Responding to a popular request, we are now sharing transcripts of our investor podcast interviews in this new series. The following interview with Andrew Romans of Rubicon Venture Capital was recorded in January 2018. Andrew Romans is General Partner of Rubicon Venture Capital. Our discussion includes an interesting segment on ICOs. Sramana Mitra: Let’s get acquainted. What