Paul Judge on helping lead SoftBank’s $100M Opportunity Fund, future of fundraising, importance of “building your Olympic Team” & more | Angel S5 E9

watch

listen

about this episode

Top Insights

  • Investing over zoom expands the top of the funnel and lowers the barrier to entry for all founders
    • Investors can take 2-5x more meetings with founders from anywhere in the world
  • Paul’s thesis: Investing in overlooked founders will likely generate outsized returns
    • The American Southeast and Midwest include 44% of the US population but only receive 14% of VC funding
    • Despite this, 36% of last year’s Inc. 5000 reside in these regions with a median growth rate of 161% year-over-year
  • The “either or” debate between making existing firms invest in underrepresented founders from their main funds OR raising “opportunity” funds that are specifically focused on underrepresented founders isn’t helpful, both are necessary to make VC funding more equitable
  • Jay-Z had the best Q1 2021 of any entrepreneur or investor
    • Tidal was acquired by Square for $297M, he sold 50% of Ace of Spades to LVMH for ~$300M, launched $10M cannabis-focused fund to back black founders, Oatly filed for IPO

Check out Panoramic Ventures: https://panoramic.vc
Check out SoftBank’s Opportunity Fund: https://theopportunityfund.com

FOLLOW Paul: https://twitter.com/pauljudge
FOLLOW Jason: https://linktr.ee/calacanis

Listen here:
Apple: https://podcasts.apple.com/us/podcast/this-week-in-startups-audio/id315114957
Spotify: https://open.spotify.com/show/6ULQ0ewYf5zmsDgBchlkr9
Overcast: https://overcast.fm/itunes315114957/this-week-in-startups-audio

Show notes:
1:05 Jason intros Paul Judge & they discuss the Miami startup scene & the impact of investing over Zoom
11:37 Odoo – Get your first app free & $1000 off your first implementation pack at https://odoo.com/twist
13:08 How Paul invests, rebranding to start Panoramic Ventures & joining the investment board at SoftBank’s $100M Opportunity Fund
17:26 Are dedicated opportunity funds the right approach to maximize funding of underrepresented founders? Where underrepresented founders have an edge
24:34 OurCrowd – Sign up for a free account at https://www.ourcrowd.com/twist
26:11 Jay-Z’s insane Q1, why George Floyd resonated more than prior policy brutality videos
35:11 LinkedIn Jobs – Post your first job free at https://www.linkedin.com/angel
36:47 Downstream investors looking for underrepresented founders
41:33 Celebrity/influencer funds impact on the future fundraising landscape
43:53 What makes it easy for Paul to invest: “What’s your Olympic Team?”, anti-portfolio
53:07 Paul’s greatest hits as an investor, paradox of borrowing money as a rich person
1:00:20 Educating more people on entrepreneurship via reality TV, Jason’s Clubhouse crusade, future of SF

Subscribe to our YouTube to watch all full episodes:
https://www.youtube.com/channel/UCkkhmBWfS7pILYIk0izkc3A?sub_confirmation=1

Subscribe to TWiST Clips for all the best moments:
https://www.youtube.com/channel/UCS7tJlcUA6PzVHEMo-X7ddg?sub_confirmation=1

more episodes