Nnamdi Okike: We look at the round after that. What we are looking for are companies that typically have built an early product and have some early traction. If it’s software selling to small businesses, maybe they have 10 early customers.
These are companies that don’t have a lot of revenue. Usually when we come upon them, they may have a couple of hundred thousand of ARR. They’re looking to scale up. Typically, they have a big market opportunity and founders who have a high-level of dedication.
>>>Responding to a popular request, we are now sharing transcripts of our investor podcast interviews in this new series. The following interview with Nnamdi Okike was recorded in June 2019.
Nnamdi Okike is Co-Founder and Managing Partner at 645 Ventures. We have an excellent conversation about trends and his firm’s investment thesis.
Sramana Mitra: Tell us about 645 Ventures and your journey a little bit so we get to know you.
>>>Sramana Mitra: How does the Filipino ecosystem interface with the rest of the Southeast Asian ecosystem? Where are the partnerships that you’re seeing?
Francis Simisim: Philippines is an island on its own. It’s somewhat purgatory. We are raising smaller money than a regional VC’s ticket size. If they raise locally, it’s a big round and it’s too expensive. We are in a tough place. We are still establishing a lot of the regional partners.
>>>Sramana Mitra: What is an example of a local problem that is non-copycat? We have a term for that. We use a more elegant term for that. We call it concept arbitrage.
I’ve been extensively involved in the Indian startup ecosystem. I always encourage concept arbitrage because it’s a very good way for entrepreneurs to learn how to be entrepreneurs and get things going.
>>>Responding to a popular request, we are now sharing transcripts of our investor podcast interviews in this new series. The following interview with Francis Simisim was recorded in June 2019.
Francis Simisim is Partner at Original Pitch Venture Capital based in the Philippines. We had a very good discussion on how that ecosystem is developing.
Sramana Mitra: Tell us about yourself as well as Original Pitch Ventures.
>>>In case you missed it, you can listen to the recording here:
During this week’s roundtable, we had Doug Atkin, Managing Partner at Communitas Capital Partners, as our guest. Doug has extensive experience in FinTech and this conversation explored the nuances of that sector.
You can listen to the recording of this roundtable here:
Sramana Mitra: How relevant do you think is Silicon Valley to the B2C side of the Mexican venture ecosystem? Not just Mexican – Latin America. If you’re doing B2C, how relevant is Silicon Valley for you?
Hernan Fernandez: I think it’s growing in terms of relevance. I really wished Silicon Valley took a little bit more time to understand Latin America. I have seen many entrepreneurs with heartbreaking emails, “We always go with the big market.”
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