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Looking Glass Capital

includes Looking Glass Capital Fund I, Looking Glass Capital Fund II

14 statements across 1 episodes · 2 bullish · 0 bearish · 1 people on the record · first statement May 29, 2023 by Adam Besvinick · said 29 times in 1 episodes since 2023 · across every show →

Mentions by year, the whole family

brought up most by Adam Besvinick (26), Harry Stebbings (3)

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0112023episodes it came up in
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2023 29 mentions in 1 episode

every mention, scene by scene, with the transcript →

Everything said about Looking Glass Capital, oldest first

May 29, 2023
Insight
Besvinick: Pre-seed startups must raise 24 months of gross burn
“My general rule of thumb is you need to have at least 24 months of cash gross burn, not net burn. When you raise your around that I'm involved in initially, I assume the fact that they're probably going to overspend a little bit. So it's probably more like 21 …”
Adam Besvinick May 29, 2023 ▶ 51:13 Adam Besnivick: How to Invest in Pre-Seed & Seed Stage Companies; Looking Glass Capital | E1020 · 20VC with Harry Stebbings
May 29, 2023
Disclosure
Looking Glass targets $1.5M–$2M rounds at $6M–$10M post-money
“A quintessential round for me would be one and a half to two million dollars at a six to 10 post. That's like down the middle of the fairway, you know, structure for me.”
Adam Besvinick May 29, 2023 ▶ 38:59 Adam Besnivick: How to Invest in Pre-Seed & Seed Stage Companies; Looking Glass Capital | E1020 · 20VC with Harry Stebbings
May 29, 2023
Assertion Supported
Besvinick operates Looking Glass Capital as a solo GP with zero employees
“I'm a single GP. I'm also a single employee. I don't work with anybody else at looking glass.”
Adam Besvinick May 29, 2023 ▶ 43:06 Adam Besnivick: How to Invest in Pre-Seed & Seed Stage Companies; Looking Glass Capital | E1020 · 20VC with Harry Stebbings
May 29, 2023
Prediction Not checkable as stated
Besvinick expects 20-30% of portfolio to drive returns, 40-50% to fail
“Ultimately I know that the vast majority of returns are going to come from, you know. 20 to 30% of the portfolio, and I'm comfortable with the inevitable zero or less than one X that's going to make up, I don't know, 40 to 50% of the portfolio, call it eventua…”
Adam Besvinick May 29, 2023 ▶ 40:41 Adam Besnivick: How to Invest in Pre-Seed & Seed Stage Companies; Looking Glass Capital | E1020 · 20VC with Harry Stebbings
May 29, 2023 positive
Insight
Besvinick: Building in complex sectors self-selects for resilient founders
“And I think the founders that I invest in and the categories I invest in self-select for uncommonly resilient entrepreneurs. If you're building in healthcare, in climate, in education, even in some of the tools serving small businesses that I invest in, like t…”
Adam Besvinick May 29, 2023 ▶ 19:29 Adam Besnivick: How to Invest in Pre-Seed & Seed Stage Companies; Looking Glass Capital | E1020 · 20VC with Harry Stebbings
May 29, 2023
Disclosure
Looking Glass Capital set $100k and $250k LP check minimums
“Yeah, it was 100 on fund one and two 50 on fund two.”
Adam Besvinick May 29, 2023 ▶ 24:16 Adam Besnivick: How to Invest in Pre-Seed & Seed Stage Companies; Looking Glass Capital | E1020 · 20VC with Harry Stebbings
May 29, 2023
Assertion Not checkable as stated
Besvinick led 14 Fund 1 deals despite rarely writing the largest check
“Like I said, I was the first yes or the lead in 14 of 24 investments out of Fund One. It's effectively been the case in every investment out of Fund Two so far, and I was the largest investor in only one of those 14 rounds in Fund One.”
Adam Besvinick May 29, 2023 ▶ 37:09 Adam Besnivick: How to Invest in Pre-Seed & Seed Stage Companies; Looking Glass Capital | E1020 · 20VC with Harry Stebbings
May 29, 2023
Disclosure
Besvinick: Looking Glass Fund I averaged ~4% entry equity ownership
“My average ownership was close to four percent on average at entry across fund one.”
Adam Besvinick May 29, 2023 ▶ 8:18 Adam Besnivick: How to Invest in Pre-Seed & Seed Stage Companies; Looking Glass Capital | E1020 · 20VC with Harry Stebbings
May 29, 2023 positive
Assertion Not publicly verifiable
Besvinick: Cold inbound deals produced some of Fund I's top performers
“The deals that I've done that have been cold inbound have been explicitly because they're looking for investors that invest in relevant themes to what they're building. And those have been great companies. In fact, those are some of the best companies out of f…”
Adam Besvinick May 29, 2023 ▶ 44:29 Adam Besnivick: How to Invest in Pre-Seed & Seed Stage Companies; Looking Glass Capital | E1020 · 20VC with Harry Stebbings
May 29, 2023 neutral
Insight
Besvinick: Venture funds under $50M must return fund on one $1B exit
“Fundamentally, I believe if you're investing out of a fifty million dollar fund or smaller, a billion dollar outcome has to return the fund or this job becomes even harder than it already is.”
Adam Besvinick May 29, 2023 ▶ 7:46 Adam Besnivick: How to Invest in Pre-Seed & Seed Stage Companies; Looking Glass Capital | E1020 · 20VC with Harry Stebbings
May 29, 2023
Disclosure
Besvinick: Every Fund 1 LP was a prior personal connection
“Every single LP in fund one is someone that I knew personally over my prior You know, years and years in and around the early stage tech ecosystem.”
Adam Besvinick May 29, 2023 ▶ 21:09 Adam Besnivick: How to Invest in Pre-Seed & Seed Stage Companies; Looking Glass Capital | E1020 · 20VC with Harry Stebbings
May 29, 2023 neutral
Prediction Not checkable as stated
Besvinick refuses small $75k allocations to maintain target fund ownership
“I'm never gonna be like, oh, I got a 75 allocation here. Yeah, I'll do that one. Like I stick to my target check size range. I stick to my target ownership, which is an average ownership across the portfolio.”
Adam Besvinick May 29, 2023 ▶ 31:42 Adam Besnivick: How to Invest in Pre-Seed & Seed Stage Companies; Looking Glass Capital | E1020 · 20VC with Harry Stebbings
May 29, 2023
Disclosure
Besvinick: Looking Glass Fund I was $8.5M+ with $300K-$400K checks
“Fund one was a little over eight and a half million dollars, generally investing 300 to 400 K into pre-seed and very early seed rounds.”
Adam Besvinick May 29, 2023 ▶ 6:43 Adam Besnivick: How to Invest in Pre-Seed & Seed Stage Companies; Looking Glass Capital | E1020 · 20VC with Harry Stebbings
May 29, 2023
Disclosure
Besvinick writes an investment memo for every Looking Glass deal
“I write an investment memo for every single investment I make, even though it's just me reading them.”
Adam Besvinick May 29, 2023 ▶ 13:58 Adam Besnivick: How to Invest in Pre-Seed & Seed Stage Companies; Looking Glass Capital | E1020 · 20VC with Harry Stebbings
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