Lemkin: New Operator-VCs Should Ignore Advice to Slow Down and Invest Aggressively
Jason Lemkin · Jason Lemkin: Cold Email Tips; Why Only 15% of Founders Listen to their VCs | 20VC #954 · 20VC with Harry Stebbings · Nov 30, 2022 · at 18:59
Jason Lemkin is the founder of SaaStr and manager of the $100M SaaStr Fund. He offers advice to former startup operators transitioning into venture capital roles at funds.
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“Don't listen to the advice to slow it down, right? If you join a larger fund, their incentives are different than yours, right? You're new, the ball is set. They're just hoping, a large fund is hoping in the next two years you find one notion, that's all they care about, and that you don't create a lot of drama or headaches, right? They're only looking for one. That's all they need out of adding you. So your incentives are, you want 10 so that you can get a couple unicorns and get your And get your track record going. So, so invest in as many as you can, even if you have to, even if the ownership is suboptimal, even if you have to join a syndicate, you wouldn't want to, even if you have to do a few as an angel, just do all the good ones.”
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