Venture Unlocked: The playbook for venture capital managers

The Benchmark Way: Running of an Iconic firm with Victor Lazarte

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Mar 19, 2025
Victor Lazarte, a General Partner at Benchmark and co-founder of the billion-dollar Wildlife Studios, shares insights from his leap from gaming to venture capital. He discusses Benchmark’s unique philosophy of fostering deep partnerships and making fewer, high-impact investments. Victor reflects on his entrepreneurial journey, the evolution of mobile gaming, and the critical role of VC in tech innovation. He also explores the rapid evolution of AI, emphasizing the need for sustainable growth amidst new technologies.
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ANECDOTE

Wildlife Studios' Bootstrapped Beginning

  • Victor Lazarte was inspired by the app store's rise and the potential for mobile gaming.
  • Despite facing rejection from investors, he bootstrapped Wildlife Studios with his brother.
INSIGHT

Mobile Gaming and Silicon Valley's Defiance of Traditional Finance

  • Mobile gaming's success is largely due to free-to-play models and in-app purchases, not just the mobile format.
  • Silicon Valley's success in creating valuable companies defies the efficient market hypothesis.
INSIGHT

Benchmark's Deep Partnership Model

  • Benchmark's unique model focuses on deep partnerships with entrepreneurs, prioritizing quality over quantity.
  • They make a limited number of "commitments" per year, dedicating significant time to each company.
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