The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch

20VC: Bain's Matt Harris on Why Valuation And Market Size Are Not The Most Important Thing At Series A, Why Backing Sociopaths Can Work & Late Cycle Momentum Investing & The Changes That Will Stay in Venture Forever

6 snips
Sep 23, 2019
Guest
Matt Harris
Matt Harris, Partner at Bain Capital Ventures and fintech expert, shares fascinating insights from his extensive career. He discusses how the dot-com boom shaped his investment philosophy and why he believes traditional metrics like valuation are less important at Series A. Harris also explores the idea of backing unconventional founders and the implications of late-cycle momentum investing. Highlighting the shift in market dynamics for payment solutions, he explains that solving niche problems can lead to significant growth opportunities.
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ANECDOTE

Fintech Focus

  • Matt Harris entered venture capital during the dot-com bust, founding Village Ventures in 2000.
  • He specialized in fintech, a then-nascent field, foreseeing innovation potential.
INSIGHT

Double-Edged Fear

  • Experiencing the dot-com bust instilled a fear of market cycles in Matt Harris.
  • However, this fear has caused him to miss opportunities during the current bull run.
INSIGHT

Ownership Over Valuation

  • Series A valuations matter less than ownership percentage.
  • Focus on acquiring a meaningful stake (18-25%) in promising companies.
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