Sramana Mitra: When you say early, can you put a bit more color around that? Are you willing to do concept financing? Gaurav Jain: The short answer is yes. These days, it has gotten so cheap to build an MVP, especially if you’re building a software product, which is where 80% to 90% of our
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
Responding to a popular request, we are now sharing transcripts of our investor podcast interviews in this new series. The following interview with Gaurav Jain of Afore Capital was recorded in February 2018. Gaurav Jain is Managing Partner at Afore Capital, a firm focused on pre-seed investments. This is an excellent conversation for entrepreneurs looking for insights
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
Sramana Mitra: That point that you made about seed capital being abundant and seed funding being abundant, and Series A becoming an issue is huge. The numbers are 50,000 to 70,000 seed financing a year, and Series A is only about 1,500. There is a huge drop off that is happening. We don’t really have