Deepen Parikh is Partner at Courtside Ventures, a firm focused on investing in sports related ventures. He provides a fascinating window into a little discussed sector.
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Hernan Fernandez is Managing Partner at Angel Ventures Mexico, a firm that invests in Mexico, Chile, Peru and Colombia. This is an excellent discussion on trends in Latin America.
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Sramana Mitra: Let’s do some examples from your investment portfolio. What have you invested in? What are the highlights of your portfolio?
As you describe them, what state did you encounter these companies in? What attracted you to them?
Bill Bice: Let’s start with Intellicyt that I just mentioned. It was a pre-revenue, pre-LLC company. My partner found the technology at University of New Mexico and helped match that with an entrepreneur who had experience in this market.
>>>Eghosa Omoigui is Managing Partner at EchoVC Partners, a firm focused on the African market. This is a fascinating discussion about African startups and venture capital.
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Sramana Mitra: Let’s take SaaS for a moment. If you were to look at a SaaS company, what would you look for? Would you look for MRR metrics?
Would you look for just a proof, just a minimum viable product? What is your comfort zone to get into a company?
Bill Bice: I’m often working with an entrepreneur at the earliest stages. I’m not likely to be interested in investing until they have hit a standard $10,000 in MRR. A big part of my incentive and what I love to do is to help entrepreneurs get to that point.
>>>Sramana Mitra: Before we get into that, let’s get the fund specifics. How big is your fund? What is your preferred investment criteria.
Bill Bice: We’re an early-stage fund. My partner was the first VC in the state of New Mexico. He really took a different approach in building the firm. He brought together a partnership of entrepreneurs that have all built companies and have had successful exits.
>>>Responding to a popular request, we are now sharing transcripts of our investor podcast interviews in this new series. The following interview with Bill Bice was recorded in April 2019.
Bill Bice, Partner at Verge Fund, discusses New Mexico’s startup ecosystem and his fund’s activities in that region.
Sramana Mitra: Let’s start by getting acquainted and also introducing you to our audience. Let’s learn about Verge Fund. Tell us about yourself. What is your investment thesis? What are the preferences? How big is the fund?
>>>Sramana Mitra: Coming back to the more mundane topic of enterprise technology which is what everybody wants to invest in; by and large, in the venture world, what is your analysis? What kind of stuff do you see as interesting and exciting?
Hemant Mohapatra: Coming into India, I don’t know how deep the enterprise is. It is never going to be as deep as the US, at least, for a few years now. But what is interesting is the ambition of the best founders and enterprises here is no less than the ambitions of the best founders and enterprises in the US.
>>>