The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch 20VC: Why the Traditional Seed Fund Model No Longer Works, Why Multi-Stage Funds Investing at Seed Bring Signaling Risk but also Less Pressure, The One Criteria All Potential Sales Hires Need to Have and The Clear Signs of 10x Sales Hires with Jason Lemki
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May 6, 2022 
Jason Lemkin, the Founder and Managing Partner at SaaStr and former CEO of EchoSign, shares his insights on the shifting landscape of venture capital. He discusses why traditional seed fund models are becoming outdated and how multi-stage funds at seed can relieve pressure for founders. Lemkin also emphasizes the importance of ownership and strategic hiring within sales teams. He reveals key criteria for identifying standout sales hires and offers valuable tips on creating effective sales playbooks, making this conversation a treasure trove for aspiring entrepreneurs.
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Early Investment Success
- Jason Lemkin's first four investments after selling EchoSign became unicorns.
- This success propelled his venture career and led to the creation of SaaStr.
Ownership and Commitment
- Prioritize double-digit ownership in startups.
- Focus on founders with a long-term commitment, even if the market is large.
Founder-Friendly Funding
- Venture capital is less collaborative, benefiting founders.
- Founders can raise from operator-led funds, reducing reliance on traditional VCs.