Patrick Chung from Xfund

Patrick Chung is the Managing General Partner of Xfund.

Xfund is an early-stage venture capital firm built to back entrepreneurs who think laterally and experiment across disciplines.

They are a pioneering partnership between some of the country’s most successful venture capital firms and some of the world’s best research universities in the United States and abroad.

Patrick's bio is fascinating!

• Bachelor, JD and MBA from Harvard
• Masters from Oxford
• McKinsey
• Founder of ZEFER which hit $100M annual revenue and was acquired
• Partner at NEA

Takeaways

• Patrick's journey from Harvard, Oxford, McKinsey and into venture.
• Learnings from being a VC at NEA.
• The genesis story behind Xfund and its focus.
• Why founders are like artists.
• Meeting Sam Altman 20 years ago and investing in his first company Loopt.
• Cultural shifts are encouraging more graduates to pursue entrepreneurship.
• University bias often leads to safe career choices and how to change that.
• Providing term sheets upon graduation provides real choices for potential founders.
• Talent over industry.
• The importance of co-founders.
• Navigating university policies on IP.

Chapters

00:00 Patrick Chung's Journey: From Harvard to Venture Capital

03:06 The Empathy of Founders: Insights from the Investor Side

06:04 Identifying Great Founders: The Xfund Approach

08:53 Cultural Shifts in Entrepreneurship: A New Generation of Founders

12:06 Navigating University Bias: The Challenge of Safe Choices

15:11 Creating Real Choices: The Experiment Stake Initiative

18:07 Finding Talent: Where to Discover Future Founders

21:09 Sector Focus: Talent Over Industry

23:56 The Power of Co-Founders: Trust and Collaboration

27:07 Selecting Schools: The Power Law of Startup Success

30:05 Unlocking Entrepreneurial Potential: Tools and Strategies

32:47 Commercialization and IP: Navigating University Policies

36:07 Personal Insights: Dealing with Hard Times

Keywords

Patrick Chung, Xfund, venture capital, entrepreneurship, founders, university startups, empathy, investment, startup culture, commercialization