1947 Rise 59: Ryan Hoover (Weekend Fund) | "101 Guide For Emerging Fund Managers" | 1947 VC
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Apr 13, 2023 Ryan Hoover, founder of the Weekend Fund and Product Hunt, dives into the world of angel investing and shares his journey of establishing the Weekend Fund. He discusses his evolving portfolio construction methods and the challenges of fundraising. Hoover emphasizes the importance of storytelling when pitching to limited partners and offers insights on relationship-building. He also reflects on the role of luck in success and shares recent personal well-being changes, showcasing his multifaceted approach to investment and life.
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First Investment
- Ryan Hoover's first investment was in a fund, not as an angel investor, due to his role at Product Hunt.
- After the acquisition by AngelList, he started Weekend Fund, a $3 million fund, in 2017.
Portfolio Construction
- Ryan Hoover aimed for diversification and smaller checks in Weekend Fund's portfolio, facilitating collaboration with other investors.
- This approach allowed for more deal flow and flexibility in supporting startups.
Fundraising Process
- Start fundraising with your network, then ask LPs for recommendations, and consider a community raise.
- Make it easy for people to recommend you by providing specific criteria and pre-written blurbs.