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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 at Bessemer Venture Partners, shares his impressive journey in venture capital with over 60 investments and 23 successful exits. He debunks the myth that high-growth companies are always the best investments, advocating for smaller markets instead. Adam emphasizes the importance of recognizing effective entrepreneurs and the delicate balance of risk-taking. He discusses the evolution of VC from a boutique business to a more collaborative approach, while highlighting the nuances of negotiation and the significance of culture fit in hiring.
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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