The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch 20VC: Why the Theory of Pro-Rata is Often False, How Rolling Funds Impact Both Pricing and Competition & The Biggest Lessons from Working with Jack Dorsey with Avlok Kohli, CEO @ AngelList Venture
Dec 21, 2020
Avlok Kohli, CEO of AngelList Venture and founder of Avlok Capital, discusses the transformative power of rolling funds, dubbing them the "printing presses of innovation" for startups. He shares insights from his journey in venture capital and highlights how rolling funds impact early-stage pricing and competition. Avlok also reflects on his experiences with Jack Dorsey and the importance of customer-centric leadership. The conversation touches on the shifting dynamics in funding and the emerging role of personal capital in the investment landscape.
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Customer Centricity
- Center your company culture around the customer to avoid internal distractions.
- Continuously re-focus on customer needs by writing as if you are building for a customer.
Dorsey's Dual CEO Role
- Avlok Kohli recounts Jack Dorsey's decision to lead both Twitter and Square simultaneously.
- Despite initial discontent, Dorsey's conviction and customer focus ultimately led to success.
Rolling Funds as Printing Presses
- Rolling funds democratize access to capital for VCs, similar to how the printing press democratized knowledge.
- More VCs mean founders have more funding options, leading to increased innovation.
