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20VC: Index Ventures Partner, Mark Goldberg on The Questions Founders Must Ask A Multi-Stage Fund Before Taking Their Money At Seed, Why Most Angels Will Lose Their Money & Why We Will See Our First $100Bn Neo-Bank Shortly

Mar 2, 2020

Mark Goldberg, a Partner at Index Ventures with a specialization in financial services and former Dropbox executive, shares valuable insights from his career. He discusses the importance of building authentic relationships with founders and how venture capital is becoming commoditized. Mark emphasizes the need for founders to ask crucial questions when engaging with multi-stage funds. The conversation also explores the rise of fintech and the potential for a $100 billion neobank to emerge, highlighting the innovative shift in consumer finance.

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ANECDOTE

From Dropbox to Index

Mark Goldberg joined Index Ventures after working at Dropbox, where he saw the company grow tenfold.
Initially seeking another operating role, he realized his passion for investing during interactions with Index.

INSIGHT

Venture Capital Commoditization

Venture capital, as a product (money), is becoming commoditized due to increasing capital influx.
Top VC funds must differentiate themselves beyond simply offering capital.

ADVICE

Building Relationships

Build genuine, trusting relationships with founders early on.
Authenticity in interactions is key for long-term success as an investor.

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Mark Goldberg is a Partner @ Index Ventures, one of the leading venture firms of the last decade with a portfolio including the likes of Dropbox, Revolut, Supercell, Plaid and Transferwise to name a few. As for Mark, since joining Index he has largely specialised on all things financial services and sits on the board of Plaid, Nova Credit, Intercom, Pilot and more incredible companies. Prior to Index, Mark spent 3 years in BizOps at Dropbox where the company increased tenfold during his time there.

In Today’s Episode You Will Learn:

1.) How Mark made his way into the world of venture with Index having spent 3 years at Dropbox during a transformational time for the company? What were Mark's biggest takeaways from seeing the growth cycle at Dropbox? How did that impact his investing mindset with Index?

2.) Why does Mark believe that venture as an asset class is commoditising? What does Mark believe the best funds will have to do to stay ahead? How does Mark build relationships of trust and authenticity so early with founders? What works? What does not? What is the right way to deliver direct and tough feedback to founders?

3.) How does Mark feel about multi-stage funds re-entering seed investing again? What are the right questions seed founders should ask multi-stage funds when determining whether to take their money? What does Mark believe it takes to be competitive and win the very best of deals? How is the Founder VC dynamic changing with capital supply?

4.) Why does Mark believe that most angels are going to lose their money? What does Mark wish all angels knew when they started? How does Mark feel about the rise of founders investing alongside operating? What are the pros? What are the cons? How does Mark feel about the rise of scout funds? Where is there place in the ecosystem?

5.) We are seeing unparalleled levels of activity in fintech, is this a boom or are we at the start of a fundamental shift in the landscape? Why does Mark believe we will soon see our first $100Bn neo-bank? Why does Mark believe we will see a strong rise in the consolidatory environment for fintech moving forward?

Items Mentioned In Today’s Show:

Mark’s Fave Book: Barbarian Days: A Surfing Life

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