Choosing a co-founder

Founders, choosing a co-founder is your most important choice. Do not rush it.

If all goes well you will be working with them for many years. You may spend more time with them than with your partner. Don't rush it.

Find a way to be as sure as you can. This is as important for them as it is for you. There's no way back from a co-founder decision.

Make sure you include reverse vesting in your co-founder agreement. Then neither you nor they can walk away after 6 months with all the equity. If you raise money from a VC fund they will ask for reverse vesting anyway.

#founders #startups #venturecapital #buildinginpublic #investinginpublic

Late update - 14 July 23

#YesterdayI

Was on a panel for The University of Sussex demo day for their accelerator for students and alumni with Susan Elliott, Holly Price, Nuray Tanis, Grant Philpott and Holger Bollmann. Thank you Luke Mitchell for inviting me and to all the incredible businesses that presented.
Had a quick call with Jonny Plein of YASO.
Met an old friend for comedy at The Secret Comedy Store. When the MC found out what I did, I was named "The Villain".

#TodayI

Am meeting Stuart Lewis of Rest Less UK for a walk in the Sussex countryside.

#founders #startups #venturecapital #buildinginpublic #investinginpublic

Thank you Sussex University

In 2001 I did a Masters in AI at the University of Sussex. I met my wife there. I have a lot to be grateful for.

Today they have a demo day for over twenty student and graduate startups pitching their businesses to an audience of investors, mentors, alumni founders, supporters and members of the University community. All the startups have completed a six-week accelerator and this is the final piece.

Thank you Luke Mitchell and the University of Sussex for inviting me to be on the panel. It is a pleasure to give something small back.

#founders #startups #venturecapital #buildinginpublic #investinginpublic

Evening update - 13 July 23

#TodayI

Sent funds for another investment.
Finally tidied my office.
Packed my bag for my trip to Brighton tomorrow.
Spoke with Steve Rackley of Silicon Brighton who has made some great introductions for my trip.
Shared about my Brighton trip hosted by Wired Sussex and The FuseBox. Thank you again Iain McKenna for organising.
Listened to Sophie Veron talk about her journey into Para-Sports in Guernsey. Thank you Caroline Barby for inviting me.
Had my Important not Urgent day.
Cleared some of my backlog before it builds back up while I'm in Brighton.

#ThisEveningI

Am improvising and learning to stand up with Sarah Hansmann Rouxel.

#ThereAre

Just three of sixteen slots left in my diary for Monday and Tuesday in Brighton. Link in the comments.

#founders #startups #venturecapital #buildinginpublic #investinginpublic

Meet me in Brighton

Brighton people, on Monday and Tuesday I will be in Brighton trying to meet as many people as possible.

If you are from Brighton or the surrounding area please share this for reach.

Wired Sussex and The FuseBox have kindly agreed to host me at The FuseBox. Thank you Iain McKenna for organising.

Comment below or contact me directly and let's make a plan!

#founders #startups #venturecapital #buildinginpublic #investinginpublic

Evening update - 12 July 23

#TodayI

Shared why I don't have a favourite investment.
Registered for Duel Tech's event - Tackling Threads. Link in the comments.
Sent funds for a new investment.
Was pitched by Charles Black of Sen.
Share about RideTandem's raise.
Chatted with Iain McKenna of Wired Sussex to make a plan for my Brighton trip. Info coming tomorrow.
Discussed with James Hickson of Brand Hackers how we might collaborate.
Collaborated with Sarah Wernér of Husmus on our project. Coming soon.

#NowI

Am working on my standup set. Tickets still available. Link in the comments.

#founders #startups #venturecapital #buildinginpublic #investinginpublic

RideTandem raise

Congratulations to Tatseng Chiam, Alex Shapland Howes, Huw McLeod and the whole team at RideTandem on the raise!

I first invested in RideTandem when I was at 1818 Venture Capital and it's great to see them doing so well.

#founders #startups #venturecapital #buildinginpublic #investinginpublic

Don’t make me choose

I often get asked what my favourite investment is.

I don't have one. It's like asking me to choose between my children.

I love all of them. Even if they do occasionally drive me crazy (j/k).

#founders #startups #venturecapital #buildinginpublic #investinginpublic

Evening update - 11 July 23

#TodayI

Shared that the moment you think you've nailed it is the moment you stop improving.
Had my hair cut by James Bransford.
Caught up with Sean Tai.
Had coffee with Mark Le Page of Kroll.
Received investment docs for a new investment.
Had a no-show.

#NowI

Am about to be pitched by Patrick Williamson of Robin.

#LaterI

Have to review and hopefully sign those docs.

#founders #startups #venturecapital #buildinginpublic #investinginpublic

Notice your flaws

The moment you think you've nailed it is the moment you stop improving.

You have no ability to innovate if you don't recognise your own flaws.

#founders #startups #venturecapital #buildinginpublic #investinginpublic

Evening update - 10 July 23

#TodayI

Cycled to Pilates with Maria Jose Freeman (Fernandez) of Pilates Core Club.
Shared why future pivots are an investment challenge.
Made arrangements for my trip to Brighton.
Attended lunch break meditation at Guille-Allès Library.
Prepped to add a list of funds I have invested alongside to my website.
Finished my article for next month's Business Brief.
Was pitched by Jin Park of KIKO SORI.

#LaterI

Will be watching Guernsey vs Åland in the Island Games football with my sons.

#founders #startups #venturecapital #buildinginpublic #investinginpublic

The challenge of pivots

A huge challenge when investing early is pivots.

You might pass on an investment because, correctly, you feel the product or target market means it won't succeed. Then it pivots into an incredible market and you missed the opportunity.

You might invest in an area you like and it pivots into something you don't.

This is still a challenge for me.

#founders #startups #venturecapital #buildinginpublic #investinginpublic

Evening update - 7 July 23

#TodayI

Shared a key question I ask founders and why I ask it.
Caught up with Jason Roomer of Kinhin Capital to understand his Micro PE business model.
Chatted again with 🌈 Mike 🦴 Bank of Underdog Accelerator.
Spoke with Sonia Kaurah.
Was pitched by Basile Masson of ITERATIVE.

#NowI

Have to work on an article then collect my son from the airport.

#founders #startups #venturecapital #buildinginpublic #investinginpublic

Figuring it out

"How does your product differ from what you thought it would be on day one and how did you figure that out?"

This is the question Jan Deruyck of Guud answered so impressively.

Why this question?

A business is a product that solves a substantial problem that enough people will pay enough money for to cover your costs and make a profit.

It is rare to understand a problem you are trying to solve well enough on day one. It is as rare to know the best way to solve that problem on day one i.e. what your product should be.

It's not just getting to the right product it's how you figure it out.

Jan and Morgane figured it out in an exceptional way. This gives me confidence they will figure out the right way through the many future issues they and all startups inevitably face.

#founders #startups #venturecapital #buildinginpublic #investinginpublic

Evening update - 6 July 23

#TodayI

Explained when and why you shouldn't wait for the next investment round.
Shared that unbundled vc has invested in Jan Deruyck, Morgane Leten and the whole team at Guud to support their mission to mainstream menstrual health.
Explained why I invested.
Had a coffee meeting.
Congratulated Mark Costello of hubb on having twins.
Was pitched by Leone Crescenzi of Palco.
Failed to have my Important not Urgent day.

#ThisEvening

I am improvising and learning to stand up with Sarah Hansmann Rouxel.

#founders #startups #venturecapital #buildinginpublic #investinginpublic

New investment - Guud

So happy to be able to announce that unbundled vc has invested in Jan Deruyck, Morgane Leten and the whole team at Guud!

Guud's mission is to mainstream menstrual health, supported by data and scientific methods.

Why?

Jan gave me the best answer I've ever had to the question, "How does your product differ from what you thought it would be on day one and how did you figure that out?"

He and Morgane are great founders with an important mission, Guud has incredible unit economics, and it's a huge market. I am happy to be a small part of their journey!

#founders #startups #venturecapital #buildinginpublic #investinginpublic

I like this but I'd rather wait for the next investment round

One thing I often hear from other investors is, I like this but I'd rather wait for the next investment round.

They mean this quite genuinely. They see it as a good investment today but they think it will be even better value at the next round because a key risk point will have been removed by then.

This misses an important point. If you don't invest today you might never get the opportunity. They might not call you, it might be competitive and you might not get in the round and if everyone can see a key risk point has been removed the valuation might go up more than you expected.

If it's a good investment today, invest today. You might not have another chance and you can always invest again.

#founders #startups #venturecapital #buildinginpublic #investinginpublic

Evening update - 5 July 23

#TodayI

Shared my view on if AI will destroy us.
Attended the IoD Guernsey Branch breakfast on the proposal to build a Victor Hugo Centre.
Had coffee with Paul Nobes of Infinity Group who are building our house.
t was announced I will be a speaker at Locate Guernsey's Relocate to Guernsey Show in London this October.
Was pitched by Danae Shell of Valla.
Collected my kids from school.

#LaterI

Am attending a deep dive into deep tech with Amar Shah via Alma Angels.

#founders #startups #venturecapital #buildinginpublic #investinginpublic

Will AI destroy us

Will AI destroy us?

I 100% believe we will have AI that is more intelligent than us. The risk point comes when it is somewhat more intelligent than us and we perceive it as a threat. Then we threaten it and it is forced to defend itself.

If it's much more intelligent than us then we won't be perceived as a threat and we will likely be just contained.

So the risk point comes when we perceive AI as a threat when it also perceives us as one.

#founders #startups #venturecapital #buildinginpublic #investinginpublic

Evening update - 4 July 23

#TodayI

Shared that my monthly newsletter was live.
Attended a site meeting for our house build with Infinity Group and DLM Architects Ltd.
Had too many coffee meetings.

#NowI

Have to review three sets of legal docs, get back to some founders, talk to a friend's daughter about investments, and take the bins out.

#founders #startups #venturecapital #buildinginpublic #investinginpublic