Flight.vc invested in AltSchool's seed and Series B rounds
Gil Penchina · 20VC: Gil Penchina on Building The World's Largest AngelList Syndicate with Flight.vc · Feb 8, 2016 · at 17:51
Gil Penchina, founder of Flight.vc, outlines his firm's investment history in education startup AltSchool.
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“We were in the seed, and then we put, we're just wrapping up putting more money into the bee.”
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More from Gil Penchina
Gil Penchina: Negotiating annoying terms is the primary VC profession
“I get a lot less excited about negotiating annoying terms and things like that, which is sort of the primary VC profession, it seems.”
Gil Penchina: AngelList syndicates are community-driven, not institutional financiers
“And so it's really more of a community. Of people helping people than it is professional financiers trying to make money for, you know, Oxford and Harvard and Princeton's endowments.”
Gil Penchina: Average VCs ignore post-meeting follow-up emails from founders
“The average VC ignores that email because they were selling, they weren't actually promising, you know, and the worst VCs will actually just tell you like, no, I'm not going to help.”
Gil Penchina: Entrepreneurs evaluate founders better than spreadsheet analysts
“The best judges of entrepreneurs tend to be former entrepreneurs or current entrepreneurs, you know, and not spreadsheet jockeys.”
Gil Penchina: Venture capital is fundamentally a game of exceptions
“You know, I think this game is a, my joke is all venture capital is a game of exceptions, right? Every deal is different. Every deal has some strange exception that you hadn't seen before.”
Flight.vc secures pro rata rights in 80% to 90% of deals
“So I would say we insist on it to a point, and probably 80 or 90% of our deals at Perrada would be my guess, but we're also not rule-driven, inflexible bureaucrats, so if there's a reason why it doesn't make sense, you know, we'll work through it with people.”