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The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Why Small Markets are Better Than Big Markets, The Biggest Delusion of Early Stage VC, Why AI Investing is like a Horserace and Why The Most Ambitious Companies Growing the Fastest are not the Best Investments with Adam Fisher, Partner @ Bessemer
Jan 22, 2024
Adam Fisher, Partner @ Bessemer, shares lessons from his 27 years in venture capital. He discusses the importance of making multiple successful investments rather than relying on one big hit. He prefers to invest in outsider founders approaching a problem with fresh eyes and believes smaller markets are best. The speaker also explores the impact of pattern recognition in investing and the challenges of predicting successful outcomes in early-stage venture capital.
01:11:48
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Quick takeaways
- Investing in the most ambitious and fastest-growing companies doesn't guarantee success, as they often crash and burn. The real value in a company is often created in the last 12-18 months of its existence. Investors need to decide if they want to focus on one big success or multiple hits.
- Having experience and pattern recognition helps investors identify potential pitfalls and avoid making certain mistakes. It allows them to recognize what won't work and save time. Experience also helps with analyzing founders and their fit with the investor and the company's stage.
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Importance of selecting the right companies
Investing in the most ambitious and fastest-growing companies doesn't guarantee success, as they often crash and burn. The real value in a company is often created in the last 12-18 months of its existence. Investors need to decide if they want to focus on one big success or multiple hits.
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