TheOnePoint

Research: The Hidden Superpower in Venture Investing 🔥🚀 In any investment process, research is the cornerstone. It’s the critical tool that drives informed, strategic, and profitable decisions. ✅ Minimizes uncertainty ✅ Enhances strategic planning ✅ Builds resilient portfolios While the role of research is well-established in equities, it often flies under the radar in the venture capital space. Yet, in a world that’s increasingly dynamic, leveraging research in venture can offer investors a serious competitive advantage. To explore this vital topic, we’re thrilled to have an exceptional guest with us: Santosh Rao from Manhattan Venture Partners. Let me introduce you to Santosh: 💼 25+ years of financial services experience 📈 20 years as an equity analyst 🏦 Began his career at Prudential Securities and held roles at top investment banks 📚 Double undergraduate degrees + MBA in Finance (U.S.) 📰 Frequently cited in financial journals 🎥 Regular appearances on CNBC, Bloomberg, CNN, and more Santosh is currently the Head of Research/Partner at Manhattan Venture Partners, and his expertise in research-backed investment strategies is second to none. Stay tuned for an insightful conversation as we shine a spotlight on why research matters now more than ever in venture capital. Where to find Santosh: • LinkedIn: ⁠⁠⁠⁠https://www.linkedin.com/in/santosh-rao-9544292/ • Website: ⁠⁠⁠⁠https://www.mvp.vc/team/santosh-rao Where to find Rohit Yadav: • Web: ⁠⁠⁠https://linktr.ee/rohityadav⁠⁠⁠ • LinkedIn: ⁠⁠⁠https://www.linkedin.com/in/rohityadav23/⁠⁠  • Newsletter: ⁠All Things VC⁠  (⁠⁠https://www.linkedin.com/newsletters/7081921640367808512/⁠⁠) We talked about: (00:00) Episode intro (01:48) Santosh’s investment research journey: From 1991 till now (04:18) Seeing the Dot-com bubble (05:54) Growth of the private markets and his move (11:54) Research is pivotal to private markets (14:35) Explaining Manhattan Venture Partner’s (MVP’s) business (17:48) Santosh’s role at MVP (22:24) How does a typical day look like in research business (27:08) research is not just about the consumption of knowledge, it’s also about the output (31:53) Difference between public vs. private market research (34:39) Research function within the venture capital ecosystem (40:21) Venture is a conviction game and research builds conviction (41:44) Skills required to build research function (45:39) Advice for newcomers in the Research function (49:11) Staying motivated in Research (51:04) Secondaries are the new IPOs

Valuations topic is confusing and sometimes outright stressful for founders. That’s why I invited Dan Gray, Head of insights of the Equidam platform for this episode of TheOnePoint. And not just for founders. Many investors also don’t have the perfect grip on the topic. Due to their fund strategy setup, many investors might be valuation takers and not valuation setters. And honestly, the whole practical aspect of the valuations is influenced by many factors, including supply-demand of capital from investors who may or may not be too focused on this KPI alone to do deals. So, in a nutshell - Valuation as a topic has its worshipers and non-believers. Though whichever side you are on - it never hurts to understand the nuances. Dan was the perfect guest as he has 15 years of experience in and around tech startups. He is a regular contributor to Crunchbase and writes about venture capital, startup fundraising, and valuation. I’m sure the founders will enjoy this episode. As it’s January and fund-raising for startups is just beginning, I’m sure founders will gain a ton of insights from the episode. Where to find Dan: • LinkedIn: ⁠⁠⁠⁠https://www.linkedin.com/in/dangjr/ • Website: ⁠⁠⁠⁠https://www.equidam.com/ Where to find Rohit Yadav: • Web: ⁠⁠⁠https://linktr.ee/rohityadav⁠⁠⁠ • LinkedIn: ⁠⁠⁠https://www.linkedin.com/in/rohityadav23/⁠⁠  • Newsletter: ⁠All Things VC⁠  (⁠⁠https://www.linkedin.com/newsletters/7081921640367808512/⁠⁠) We talked about (00:00) Episode intro (00:58) Intro: Dan Gray (01:35) Intro: Equidam platform (03:40) Experience as Head of Insights @Equidam (04:53) What’s the vision for the Equidam platform (07:36) Different valuation methodologies (09:24) Scorecard based valuation methodology (11:44) Sample valuation outcome from the Equidam platform (13:14) The question of higher or lower valuations (15:54) How should founders think when VCs allocate low valuation to their startup (20:05) How should founders think when VCs allocate higher valuation to their startup (21:35) Investor’s incentive on giving lower vs higher valuation (22:39) Valuations in the context of larger VC funds (25:19) Price vs valuation (26:34) Startups are art, valuations are science and price is both (28:09) Most common questions from founders regarding valuations (32:33) How venture capital uses or abuses multiples (35:25) Where does multiples-valuation methodology have its place (39:53) Valuation trends in the last 2-4 years (42:51) Starting up: Timing and macro conditions (46:13) Cross-border investment: European founders and U.S. investors (49:08) VC investor and LP insights on valuations (53:35) Valuations in the context of secondary markets (57:32) Dan’s book recommendation: Paper Belt on Fire

Success stories from the venture ecosystem and the inspiring Female Foundry community deserve to shine—and Agata’s story is a standout example. 💪 In just 3 short years, Agata has built an incredible 6,000+ member community of investors, founders, advisers, and venture players, all united by a powerful mission: backing more female entrepreneurs. 👩‍💼🌍💡 Her journey is extraordinary, and her impact speaks volumes about the power of collaboration and purpose-driven leadership. 🙌✨ They also launched the Female Innovation Index to understand the funnel of female entrepreneurship and the investment landscape in the European ecosystem, analyzing 650K+ companies. No small feat! Recently Female Foundry also launched an AI incubator in collaboration with Google Cloud with a focus on equipping startups with transformative AI tools and thinking to accelerate their growth Where to find Agata: • LinkedIn: ⁠⁠⁠⁠https://www.linkedin.com/in/agata-nowicka/ • Website: ⁠⁠⁠⁠https://www.femalefoundry.co/ Where to find Rohit Yadav: • Web: ⁠⁠⁠https://linktr.ee/rohityadav⁠⁠⁠ • LinkedIn: ⁠⁠⁠https://www.linkedin.com/in/rohityadav23/⁠⁠  • Newsletter: ⁠All Things VC⁠  (⁠⁠https://www.linkedin.com/newsletters/7081921640367808512/⁠⁠) In this episode of TheOnePoint, we discussed (00:36) Intro: Agata (01:22) Intro: Female Foundry Community (05:30) Experience building the Female Foundry community (09:14) Vision for the Future: Female Foundry (19:43) Comparing US and European ecosystems (22:26) Diversity-Focused funds vs Generalist Funds (27:15) One reason why we haven’t seen meaningful progress w.r.t diversity (34:22) Maximising opportunities in the local ecosystem (40:52) Preparing for investor pitches (48:41) Exciting times for AI

How to successfully fundraise for a ClimateTech startup in India!? Get ready to uncover the answers to this key topic and explore many other insights in this episode of TheOnePoint podcast with Parithi Govindaraju from Okulo Aerospace. ClimateTech startups are tackling challenges essential for humanity's survival. But for founders in this space, the road is anything but easy. From the struggles of early-stage fundraising to the unique challenges of innovating in a field driven by physical solutions (Atoms) rather than just digital ones (Bits), ClimateTech founders often face a steep learning curve. Okulo Aerospace raised their pre-seed round in 2023 with 1 million led by Ideaspring Capital with participation from Java Capital Where to find Parithi Govindaraju: • LinkedIn: ⁠⁠⁠⁠https://www.linkedin.com/in/parithig/ • Website: ⁠⁠⁠⁠https://www.okuloaerospace.com/⁠ Where to find Rohit Yadav: • Web: ⁠⁠⁠https://linktr.ee/rohityadav⁠⁠⁠ • LinkedIn: ⁠⁠⁠https://www.linkedin.com/in/rohityadav23/⁠⁠  • Newsletter: ⁠All Things VC⁠  (⁠⁠https://www.linkedin.com/newsletters/7081921640367808512/⁠⁠) In this episode, we dive into what it really takes to secure investment in this critical space and how founders can navigate the complexities of building a ClimateTech startup. Topics covered - (00:00) Intro: Podcast (00:59) Intro: Parithi Govindaraju (01:29) Intro: Okulo Aerospace (03:04) Ovule Aerospace: Vision and Innovations  (05:26) Market focus and expansion plans (06:37) ClimateTech market in India (09:15) Personal View: One hot ClimateTech area in India (11:05) Fundraising Journey: From Idea to Pre-Seed Funding (25:19) Treating the fundraising journey as a series of steps (26:50) Mindset for fundraising success (29:03) Strategies for effective fundraising (31:44) Navigating Grant opportunities  (35:10) The role of mentors and advisors (38:17) Maintaining motivation during challenges (40:48) Hiring for fit-over talent (42:39) The concept of adjacent possible innovations

This episode of TheOnePoint features Til Klein from identity.vc  Til and I connected over a shared vision of supporting diversity in our venture ecosystem. And, Til is doing so much more beyond just supporting.  identity.vc is the first fund in Europe to back LGBTQ+ founders in the early stages.  He comes with a stellar background to achieve this mission. Having been a founder himself Til has the knowledge, strategic insights, and network to unlock this investment thesis in Europe.  With the first close of his VC fund in 2024 and a few investments already committed - Til is looking forward to 2025. LPs invest in their fund because they believe in the thesis that diversity drives performance. Social impact is the cherry on top! Where to find Tim Klein: • LinkedIn: ⁠⁠⁠ https://www.linkedin.com/in/tilklein/⁠ • Website: ⁠⁠⁠https://identity.vc/ Where to find Rohit Yadav: • Web: ⁠⁠https://linktr.ee/rohityadav⁠⁠ • LinkedIn: ⁠⁠https://www.linkedin.com/in/rohityadav23/⁠  • Newsletter: ⁠All Things VC⁠  (⁠https://www.linkedin.com/newsletters/7081921640367808512/⁠) In this episode of TheOnePoint, we talk about: (00:00) Podcast episode intro (01:21) Intro: Til Klein  (02:02) Intro: identity.vc (04:54) Launch of identity.vc and experience running the Fund (05:57) Support from LPs for identity.vc (07:42) Current state of diversity in the venture ecosystem (12:34) Should LPs have a separate bucket for Emerging Managers (14:48) Support and guidance for Emerging Managers (17:25) Comparison of U.S. and EU ecosystems (19:15) Challenges faced by diverse founders (23:09) Startup awareness of diverse founders (25:42) Bridging knowledge gaps for diverse founders (27:26) The importance of community for founders (29:25) Role of mentorship (31:44) Building community for Founders (35:07) How should founders navigate rejections and feedback (39:32) How should founders rationalize the choice of VC (42:42) Future of diversity-focused VC funds  (45:48) An inspirational idea Thanks for listening!

In a thought-provoking discussion, Guy Conway, co-founder of Koble, shares insights on how AI is revolutionizing venture capital. He emphasizes that while many VCs use AI for startup discovery, its real power lies in automating investment decisions, fostering data-driven insights. Guy discusses the evolution of VC roles in response to AI advancements and how Koble is innovating with algorithmic strategies to enhance early-stage funding. Their mission aims to transform the funding landscape, making it more efficient and impactful.

Last year in September, we published a unique report called ‘Diverse by Default’ (Link) in which we explored the What, the Why, and the How of the topic.  We all know the what (Lower funding to diverse founders, founder experience being filled with challenges). We also understand the 'Why' - Diverse teams make better decisions and investments, leading to more innovation and better business outcomes. But, we needed to build and implement the ‘How.’  In last year’s report, we surveyed and interviewed around 40 ecosystem people (Investors, founders, and operators) to find a pragmatic approach, tangible methods, and productive frameworks. Now. One year later, I’m interviewing VCs with topics like diversity, overlooked founders, underrepresented founders, and immigrant founders embedded in their investment thesis and exploring what has changed in our ecosystem.  So, to discuss this topic from multiple dimensions, I was joined by Ihar Mahaniok from Geek Ventures Where to find Ihar Mahaniok: • LinkedIn: ⁠⁠https://www.linkedin.com/in/mahaniok/ • Website: ⁠⁠https://geek.vc/ Where to find Rohit Yadav: • Web: ⁠https://linktr.ee/rohityadav⁠ • LinkedIn: ⁠https://www.linkedin.com/in/rohityadav23/ • Newsletter: ⁠All Things VC⁠  ( https://www.linkedin.com/newsletters/7081921640367808512/ In this episode, we cover: (00:00) Episode intro (01:21) Intro: Ihar Mahaniok (02:09) The story and inspiration behind Geek Ventures (05:57) Experience running Geek Ventures and Portfolio discussion (10:43) Evolving landscape of diversity and immigration (18:36) Future of diversity aligned funds (21:32) Biggest challenges faced by diverse founders (25:11) Low-hanging solutions to the challenges (29:57) Rationalizing founders choosing VCs (32:53) Another piece of advice for founders (33:56) One interesting thing from the ecosystem Thanks for listening.

Join Gabriel Shin, co-founder of Landscape, an AI operating system for venture capital, as he shares insights from his banking background. He discusses the revolutionary impact of AI on the venture landscape, enhancing investment efficiency through data-driven strategies. Topics include the future trends in venture capital, the importance of relationships amidst technology, and the evolving role of junior VC talent. Discover how AI can free individuals to focus on innovation rather than displacement, all while navigating the challenges of adapting to these rapid advancements.

In this episode, we discuss pre-seed ClimateTech fundraising with four founders - Johanna Broell from Carbonsate , Laura Laringe from reLi Energy , Manu Pillai from CarbonBridge , and Matias Machado from Leap Photovoltaics ClimateTech has been one of the hottest investment areas in the VC world, and for good reason: ClimateTech startups are critical to solving human survival. However, only some things in ClimateTech are picture-perfect.  I constantly hear founders complaining about fundraising issues and challenges. They need to gain the proper awareness of what is required to fundraise. And this is especially true at the earliest stages of ClimateTech. It is even more complicated because a substantial part of ClimateTech is Atoms and not Bits.  In this episode, we delved into a comprehensive range of fundraising topics, each of which is crucial for understanding the complex world of ClimateTech fundraising.  They share practical advice, from the do’s and don’ts of fundraising to surviving pivots, thinking about investor outreach, and the role of grants and governmental support. This episode is a goldmine of actionable insights.  Where to find Johanna Broell: LinkedIn: https://www.linkedin.com/in/johanna-broell/ Website: https://www.carbonsate.com/ Where to find Laura Laringe: LinkedIn: https://www.linkedin.com/in/lauralaringe/ Website: https://www.relienergy.de/ Where to find Manu Pillai: LinkedIn: https://www.linkedin.com/in/manurpillai/ Website: https://carbonbridge.io/ Where to find Matias Machado: LinkedIn: https://www.linkedin.com/in/matiasimachado/ Website: https://www.leap-pv.com/ Where to find Rohit Yadav: Web: https://linktr.ee/rohityadav LinkedIn: https://www.linkedin.com/in/rohityadav23/  Newsletter: https://www.linkedin.com/newsletters/7081921640367808512/  In this episode, we cover: (00:00) Episode intro (01:04) Intro: Johanna Broell and Carbonsate (03:03) Intro: Laura Laringe and reLi Energy (04:10) Intro: Manu Pillai and CarbonBridge (07:06) Intro: Matia Machado and Leap Photovoltaics (09:31) Founder's perspectives on ClimateTech market right now (28:23) One hot ClimateTech area, apart from your startup, what would it be and why? (19:19) Where do you see the future of ClimateTech headed? (32:32) Fundraising journey: Carbonsate (38:19) Fundraising journey: reLi Energy (42:13) Fundraising journey: Leap Photovoltaics (44:56) Fundraising journey: CarbonBridge (51:16) Other top challenges that founders face and their potential solutions (01:03:42) Tips, tricks, or resources for founders (01:14:17) Role of advisors and mentors in your founder journey   (01:17:24) What do you think about fundraising consultants? (01:20:26) Role of governmental support in the ClimateTech area  (01:28:29) What keeps you motivated? And, an interesting thing that you read/heard recently.

In this episode, we discuss Tech for Good concept in the venture capital business with Paul Miller OBE from Bethnal Green Ventures. Paul has been a pioneer in the Tech for Good movement in the UK since 2008. He was the perfect guest to explain the concept's humble beginnings and chart its evolution. Through BGV’s new fund, they aim to back up to 100 startups over the next four years. The reality is that the Tech for Good venture market wasn’t the same a decade back. It was practically non-existent. A few investors associated the term with charity, but thankfully, the perception has shifted over time.   We discussed Paul’s inspiration to start BGV, his journey, diversity as a topic in the ecosystem, and portfolio topics, and obviously covered many nuggets for the founders.  One important point—it’s not easy being a Tech for Good venture investor. There is always a mission to prove. BGV has done a remarkable job institutionalizing the process. Their investment selection methodology and impact reports are key for impact measurement in these ventures to build trust and ensure accountability. It was an insight-packed 50 minutes of recording. Where to find Ashish Kumar: • LinkedIn: https://www.linkedin.com/in/paulmiller/ • Website: https://www.bethnalgreenventures.com/ Where to find Rohit Yadav: Web: https://linktr.ee/rohityadav LinkedIn: https://www.linkedin.com/in/rohityadav23/  Newsletter: All Things VC (https://www.linkedin.com/newsletters/7081921640367808512/) In this episode, we cover: (00:00) Episode Intro  (00:27) Intro: Paul Miller  (00:53) Intro: Bethnal Green Ventures (BGV)  (02:18) The evolution of Tech for Good in the venture business  (04:07) BGV's journey as a Tech for Good investor  (06:52) Challenges and stigmas in Tech for Good (07:47) Success stories from the portfolio (10:59) Measuring impact in startups (14:44) Diversity in the UK ecosystem (23:41) Founder challenges and solutions (28:58) Solving for lack of awareness among founders (34:34) Advice for founders (38:00) Role of mentors and advisors (39:52) LP side: How to balance Tech for Good with returns  (44:42) Future of Tech for Good funds (47:04) Personal musing: Fundraising is like espionage Referenced: Portfolio company Aparito (https://www.aparito.com/) which BGV exited in 2024 (https://www.bethnalgreenventures.com/blog/from-bgv-to-successful-exit-aparito)