The Full Ratchet (TFR): Venture Capital and Startup Investing Demystified Investor Stories 371: Best LP Question (Strebulaev, Yormak, Holloway)
Oct 24, 2024
In this engaging discussion, Jake Yormak, Partner at Story Ventures, shares insights on maintaining consistency in venture capital investing, emphasizing the importance of a scout program and board of advisors. David Rabbe, CEO of Tovala, reveals the secrets behind their successful meal kit business, highlighting recent achievements like profitability and a key partnership with Costco. Both guests delve into the essential questions allocators should ask investors, providing valuable tips for navigating the ever-changing investment landscape.
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Supporting Successful Startups
- Focus on supporting the most successful startups by not interfering too much.
- Wait for them to approach you for advice when needed.
Maintaining Consistency
- Maintain consistency as your responsibilities grow by implementing structures and processes.
- Hire people for your back office to create repeatable processes.
Defensive to Receptive
- Katelin Holloway initially felt defensive when an LP questioned her low deal flow in a quarter.
- The LP clarified they valued GPs who focus on portfolio development, not just dealmaking, changing Holloway's perspective.