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The Peel with Turner Novak
Illegal Immigrant to $160m Fund 1: Inside Villi Iltchev’s Journey Building Category Ventures
Feb 6, 2025
Villi Iltchev, founder of Category Ventures and a seasoned investor in enterprise software, shares his inspiring journey from being an illegal immigrant to raising a $160m fund. He discusses the evolution of Silicon Valley and the mistakes that shaped his career, including the crucial importance of unit economics. Villi reflects on his experiences at Salesforce, his early bets on successful startups, and the challenges of selling tech companies. Packed with valuable insights, this conversation highlights the transformative power of perseverance and innovation in the tech industry.
01:49:19
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Quick takeaways
- Villi Iltchev's journey from illegal immigrant to successful investor encapsulates the resilience and entrepreneurial spirit required in Silicon Valley's evolving landscape.
- The podcast highlights the importance of understanding unit economics and profitability as foundational elements for both startups and venture capital firms.
Deep dives
Impact of Large Multi-Stage Firms vs. Seed-Focused Funds
Raising capital from large multi-stage firms at the seed stage is often misunderstood by founders. Many assume that these firms will support them in times of need due to their substantial resources. However, in reality, these firms typically see early investments as options on the company; if a startup faces difficulties, they are likely to pivot to the next opportunity rather than nurture a struggling investment. Seed-focused funds, in contrast, are much more invested in the success of their portfolio companies, aligning themselves closely with the founders and providing support to help them reach upcoming milestones.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode