Today marks my last day as a VC fellow at f7 Ventures. As someone fascinated by startups and entrepreneurship, venture capital (VC) always seemed like an enigma to me and I was always curious how VCs assess startups. Thanks to Kellogg Venture Lab, I was given the opportunity to explore VC over the past winter quarter. This journey has been nothing short of extraordinary, filled with invaluable insights. Here are some of the key lessons I've learned:
1. VC Seeks Home Runs Over Base Hits: Venture capital is
all about aiming for substantial returns. This journey taught me the importance of focusing on scalable solutions and significant market opportunities, evaluating startup growth from the lens of VC, and reflecting on my own entrepreneurship journey regarding what type of venture I want to pursue.
2. Good Pitch Decks Are Concise and Smooth as Slicing Through Butter: Successful fundraising pitches are sharply focused, weaving a compelling narrative effortlessly. After reviewing numerous fundraising decks, I’ve observed that the best ones are not overloaded with text. Instead, they clearly define the problem, propose a solution, outline the vision for success, and detail a strategic plan, all while maintaining a fluid narrative.
3. Idea Matters, But Execution Excellence is Key to Success: A novel idea catches the eye, but robust execution wins the day. I have been amazed by founders I’ve met who presented detailed financial projections, clear GTM (Go-To-Market) memos, and solid milestones for each step of their journey. This has shown me how founders with a solid plan and the operational prowess can bring their visions to life!
4. Tremendous Respect for the Founders: Building a venture is an arduous journey marked by countless obstacles. Throughout my fellowship, I met numerous passionate founders, including those from underrepresented groups and immigrants, inspiring profound respect for their resilience and innovation. Equally, I admire Francisca, Joanna, and Kelly at f7 Ventures for their exemplary conduct. Their dignified and humble approach to every founder, ensuring respect and consideration even in rejection, truly embodies the spirit of commendable VC.
Thank you again to Francisca Gilmore-Yulee, Kelly Graziadei, and Joanna, for giving me this VC fellowship opportunity. It’s been an exhilarating journey filled with invaluable lessons. A special shoutout to Anais E. and Rahul Srivathsa, my fellow friends from Kellogg! This journey wouldn’t have been as enjoyable or smooth without you two. I hope our paths cross again soon! :)
#VC #venturecapital #fellowship
⬇ For the full story of my VC fellowship journey and the insights gained:
https://lnkd.in/gQa5N8nr