"Turpentine VC" | Venture Capital and Investing E58: Roger Ehrenberg on Mastering Seed Investing
Oct 1, 2024
Roger Ehrenberg, founding partner of Eberg Capital and IA Ventures, shares insights into his unique contrarian seed investing strategies that have led to remarkable 10x fund returns. He discusses the significance of concentrated portfolios and the challenges posed by the current economic climate. Ehrenberg also delves into the evolving landscape of venture capital, highlighting the impact of interest rates on investment decisions. With a look into sports investments and the future of venture funding, he explores exciting opportunities amid market changes.
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Concentrated Seed Investing
- Run a concentrated portfolio at seed and be ownership-sensitive.
- Focus on companies where your expertise can significantly impact their growth.
Contrarian Seed Investing
- Few firms execute concentrated seed investing because it's challenging and requires high conviction.
- It feels safer to follow the crowd, but the real risk is not taking true seed stage risks.
Adapting to Market Conditions
- Adapt your seed strategy based on market conditions. In a market with inflated valuations, reduce investment velocity and be highly selective.
- Explore opportunities in existing companies at depressed prices, especially those with long-term potential.