This Week in Startups How VCs think about deploying reserves & follow-on funding + Quaise CEO Carlos Araque | E1546
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Aug 28, 2022 Carlos Araque, Co-founder and CEO of Quaise Energy, is pioneering geothermal drilling technology to tap into deep energy resources. He shares insights about the massive potential of geothermal energy as a sustainable alternative to fossil fuels. The conversation also touches on his company’s recent $50 million Series A funding, the innovative millimeter wave drilling technique, and the challenges of transitioning from fossil fuels. Araque's vision highlights how climate technology can reshape the energy landscape amidst global environmental concerns.
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Reserve Allocation Strategy
- VCs should reserve around one-third of their fund for follow-on investments in their top-performing companies.
- Be judicious with dry powder; allocate it to the best performers, not struggling companies.
Missed Opportunities
- Jason Calacanis regrets not putting more money into Robinhood and Uber, missing substantial gains.
- He emphasizes the importance of follow-on investments in breakout companies.
Reserve Management Nuances
- Doubling down on promising bets is recommended, but tripling down can be less effective.
- Recycling early exits is crucial, as it provides more capital for future investments.
