ACQ2 by Acquired Mission-Driven Founders, Global Investing, and Canva (with Wesley Chan)
Dec 30, 2021
Wesley Chan, an early investor in Canva and partner at Felicis Ventures, shares fascinating insights from his journey investing in mission-driven companies. He recounts his first encounter with Canva's founders, revealing their innovative vision for design tools. Wesley discusses the challenges of global investing and the importance of personal connections in decision-making. He advocates for investing in passionate founders who have a long-term vision, emphasizing the key difference between mission-driven and mercenary entrepreneurs.
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Canva Investment
- Wesley Chan invested in Canva pre-revenue after a chance meeting in Australia.
- He missed his flight after a 3-hour meeting, intrigued by their vision.
In-Person Meetings
- In-person meetings are crucial for assessing early-stage companies.
- Zoom meetings lack the depth to evaluate a founder's energy and passion.
Missionary vs. Mercenary Founders
- Invest in "missionary" founders who are purpose-driven, not "mercenary" founders motivated by money.
- Missionary companies often have low attrition rates due to shared purpose.