The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch 20VC: Initialized's Garry Tan on The Most Important Thing A Seed Investor Can Do For Founders, How Ownership Requirements Change With Evolution of Funds & Why There Is Not Too Much Capital Chasing Too Few Deals
Apr 1, 2019
Garry Tan, Co-founder and Managing Partner at Initialized Capital, shares insights from his extensive experience in early-stage venture capital. He emphasizes the critical role of trust and relationships for founders facing challenges, especially around product-market fit. Garry also discusses the evolution of ownership requirements as funds grow, revealing how his mindset has shifted from angel investing to handling larger stakes. He reflects on the importance of delivering constructive feedback and the need for technical expertise in driving innovation.
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From Engineer to VC
- Garry Tan transitioned from engineering to VC after realizing capital allocation's importance.
- He saw more value in helping others build than building himself.
Unexpected Start at YC
- Garry Tan's initial role at Y Combinator involved design, not investing.
- He helped startups with design, which led to advising and receiving an angel fund.
Institutional VC Evolution
- Institutional VCs often operate as small, tightly-held partnerships.
- Initialized Capital chose a multidisciplinary approach with more partners and expertise.
