VC10X - Investing $80 Million in AI Startups - Elizabeth Weil, Founder & Managing Partner, Scribble Ventures

Elizabeth Weil, founder and managing partner of Scribble Ventures, just closed an $80 million Fund III focused on AI-native startups.

She spent seven years at Twitter during hypergrowth from 60 to 2,500 employees, then built the Market Development team at Andreessen Horowitz.

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Key Topics discussed:

The Scribble Network

- 100+ operators and executives providing deal flow and portfolio support

- Strategic angels helping companies scale

- "Unfair advantages" through warm connections

AI Investment Philosophy

- Backing "AI-native" founders who "grew up" with the technology

- Focus on proprietary data and unique workflows

- Moat matters more than ever in a noisy landscape

Bold Predictions

- Every person will have a personalized tutor in their pocket

- Digital immortality: preserving knowledge beyond physical existence

- AI transforming healthcare, education, and daily behaviors

Founder Evaluation

- Key question: "Why are you the team on this planet that is going to be able to build this company?"

- Looking for "guttural desire" vs. whiteboard solutions

- Warm introductions as primary signal

Fund Details

- $80M Fund III for pre-seed and seed

- $750K - $1.5M initial checks

- Can lead, co-lead, or follow rounds

- Intentionally generalist despite AI focus

Contact:

- Website: scribble.vc

- Email: hello@scribble.vc

- X: @elizabeth

Timestamps:

(00:00) Introduction

(02:39) Elizabeth's journey from Stanford to Twitter

(03:08) Early career and how she got into tech and startups

(08:57) The Scribble Network and how it helps portfolio companies

(12:21) Definition of AI-native companies and key characteristics of founding teams

(14:17) Assessing the defensibility of a startup's data strategy

(15:39) Learnings from operating at Twitter and Andreessen Horowitz

(18:08) Key factors for investing at pre-seed and seed stages

(20:13) Fundraising experience for Fund Three and navigating the LP landscape

(23:03) Approach to valuations in the AI startup ecosystem

(24:28) Exciting AI sub-sectors and areas with potential

(30:15) Evaluating startups in a rapidly evolving AI landscape

(31:51) Advice for early-stage founders on building their venture

(34:08) Rapid fire round of questions about Scribble Ventures' investment strategy

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