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First Cheque

Dan Gavel on Building a Diversified Investment Strategy in Venture Capital

Nov 5, 2023
Dan Gavel, founder of Black Sheep Capital Fund, discusses the importance of understanding risk in investing and adapting strategies to the changing market. He shares his approach to running a fund, syndicate, and making personal angel investments simultaneously. Being a lead investor is about building relationships with founders and providing post-investment support. The podcast also explores the resistance of big firms to adopt technology and the impact on efficiency and competition.
58:39

Podcast summary created with Snipd AI

Quick takeaways

  • Understanding risk is more important than trying to fully comprehend it.
  • Running a fund, a syndicate, and making personal angel investments simultaneously allows for a more diversified portfolio and greater exposure to the ecosystem.

Deep dives

Passion-driven investing and unconventional leadership

Dan Gavall, founder of Black Sheep Capital, shares his unique approach to investing and leading in the early stage space. He emphasizes the importance of having conviction in investments and making bold decisions. Dan believes that being the first to put a number on a term sheet and show genuine interest in a company can act as a catalyst for a round. He also discusses the importance of post-investment leadership and being a supportive partner to founders. Dan shares a personal experience of a substantial investment made within two days, highlighting the risks and rewards in the venture capital industry.

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