First Cheque with Cheryl Mack & Maxine Minter Craig Blair Shares Insights on Investing and Building a VC Fund
Episode Summary:
In this enlightening episode of the podcast, co-hosts Cheryl Mack and Maxine Minter engage with venture capital veteran Craig Blair to unpack the intricacies of successful early-stage investing. From sage wisdom to navigating the ever-evolving VC landscape, this conversation is a trove of insights for aspiring and seasoned investors alike.
Craig discusses his journey starting from an entrepreneurial venture in the Czech Republic to establishing AirTree Ventures, which has shaped the Australian investment scene. With a particular emphasis on strategic risk-taking and intuition in investment, the episode dissects the balance between data-driven decision-making and the human element in evaluating startups. Craig also shares his pivotal ‘big cajones’ moment—a personal story of bravery and recovery.
About the Guest(s):
Craig Blair is a seasoned venture capitalist with an entrepreneurial background and a track record of successful investments in the tech industry. With a career spanning over two decades, Craig has become a distinguished figure in the VC market since 2002. He co-founded AirTree Ventures, a leading Australian venture capital fund dedicated to investing in visionary technology entrepreneurs. With his expertise, Craig has developed a reputation for making strategic and often contrarian investment decisions that have significantly impacted the Australian ecosystem. His risk-taking prowess isn't limited to investments though; he's also known for engaging in adventurous activities such as ocean sailing.
Key Takeaways:
- A founding partner of AirTree Ventures, Craig Blair emphasizes the importance of being contrarian in investment decisions.
- The discussion reveals the significance of developing investment theses and being prepared with better information about verticals or opportunities.
- Avoiding the herd mentality and challenging personal biases are vital for successful VC investments, underscoring the need for continuous learning.
- Craig shares a personal anecdote of tenacity, underlining the importance of dedication and resilience in the face of adversity.
- Discipline surrounding fund size and alignment with LPs helps maintain investment theses, ensuring the sustainability of both venture funds and startups.
Notable Quotes:
- "If everyone in VC, for example, is going into something right now, I don't want to be there. I want to be somewhere outside that."
- "It's a humbling experience to see a company and be like, oh, it's not going to work for these reasons, or it hasn't worked in the past, and therefore it's not going to work again in the future, and then it really works in the future."
- "It's very dangerous if you start morphing your investment plan to suit your LPs."
- "You might not work before, but why would it work now?"
- "I've done a lot of adventurous things. I do a lot in my previous...well, probably still do a lot of crazy stuff. I love risk."
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