Sramana Mitra: What check size do you write? Zain Jaffer: Overall, $750,000. We started with a $300,000 and followed on with $450,000. Sometimes we can do million dollars plus between seed and follow-on. Sramana Mitra: This is a wonderful case study. What else are you excited about? Zain Jaffer: I’ll give you another case study.
Sramana Mitra: As you are looking at this space, what is the scope and scale of the number of startups operating in North America? Zain Jaffer: I saw 500 startups last year. That’s just what I tracked in my CRM. The number is mind-boggling. With any industry, only a few will make it. I don’t
Sramana Mitra: Let’s focus on the PropTech part of your work. You said you’re doing pre-seed and seed in that sector? Zain Jaffer: Yes. Sramana Mitra: What’s the geographical boundary of this? Zain Jaffer: We try to stay focused on the US market. We are also open and have done many companies that plan to
Zain Jaffer, Partner at Blue Field Capital, discusses trends in PropTech. Sramana Mitra: Our focus today is primarily on the investing that you had recently started. If you want to set some context about your entrepreneurial background, that would be great. Zain Jaffer: As soon as I discovered computers, I started to mess around, code,
Zain Jaffer, Partner at Blue Field Capital, discusses trends in PropTech.
Sramana Mitra: Gaming has been a very big advertiser base for mobile apps. I don’t see any reason why gaming would not be a good reason to go into. Zain Jaffer: Investors were not very keen on gaming businesses. The idea was these games are not sustainable and was a hits-driven business. Our unit economics
Sramana Mitra: What happened to the $200,000 worth of pre-orders? Were you able to fulfill it? Zain Jaffer: No. We knew that there was a demand, but we underestimated how long it would take to build the product out. We weren’t able to do anything with that. Customers were asking when this was going to
Sramana Mitra: What happened with Gokul? Zain Jaffer: Gokul became a very pivotal figure. When we got into Angel Pad, a lot of people didn’t believe in our idea. It was very disheartening. There must have been at least 10 different advisors who came in and said, “This is never going to work.” Gokul was