Sramana Mitra: How did that happen? How did they find you? How did you find them? Steve Beck: I built a company with some guys called C2B Technologies. We sold it to a company called Inktomi in 1999. We had a great exit. We started a little venture firm. One of the companies we began
Sramana Mitra: What do you need in terms of metrics? Let’s talk about B2B SaaS. Are you looking for a million dollar ARR? Are you looking for paying customers but not yet velocity? What is the comfort zone? Steve Beck: We hear these types of things all the time. What we’re looking for are some
Sramana Mitra: That’s very good to hear that kind of alternative investment thesis because with 700 plus micro-VCs in the industry, there is no way we’re going to get 2,500 unicorns. Unicorns are supposed to be rare, so it’s mathematically impossible to have that many. I hear from too many investors that they’re all chasing
Responding to a popular request, we are now sharing transcripts of our investor podcast interviews in this new series. The following interview with Steve Beck was recorded in May 2018. Steve Beck, Managing Partner at Serra Ventures, discusses his firm’s non-Unicorn investment thesis. Refreshing to hear. Sramana Mitra: Let us introduce you to the audience.
Sramana Mitra: I have two questions to narrow down on your style of investment. First and foremost, it sounds like you invest across multiple sectors. You do B2B SaaS and you do medical. Do you also do B2C? Rob Schultz: No. We tend to stay away from B2C opportunities. We don’t understand it that well.
Sramana Mitra: Let’s talk about your portfolio. What are the highlights that you’ve invested in? Especially help us understand at what stage you got involved. What excited you about that particular opportunity that led you to invest so we can get a feel for how you think about opportunities? Rob Schultz: I can talk about
Sramana Mitra: To write a check for half a million, what do you like to see in terms of proof points or validation? Rob Schultz: Primarily, we’re looking for great teams. What’s special about the team? We love opportunities where the founder might kick off a story that goes something like this, “I’ve worked in
Responding to a popular request, we are now sharing transcripts of our investor podcast interviews in this new series. The following interview with Rob Schultz of Serra Ventures was recorded in March 2018. Rob Schultz, Managing Partner at Serra Ventures, discusses catering to startups in under-served geographies. His point of view aligns with what we’ve