Mamoon Hamid, partner at Kleiner Perkins, outlines the core investment strategy for the firm's $600M 'Back To The Future' fund.
0:00 / 0:11exact quote · 11.1s
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“We want to focus on early stage, which is really truly series A and be the first partner to a great founder and then help them on that journey, which is typically a multi-year, if not a decade plus long journey.”
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More from Mamoon Hamid
Opinion
Hamid: Kleiner Perkins avoids backing great founders in bad markets
“Bad markets, the structure of industries where margins are compressed and customers are bad, life's just too hard that way... Probably not.”
Mamoon HamidOct 21, 2024▶ 44:09Mamoon Hamid: AI - Where Value Accrues, Startups vs Incumbents & Scaling Laws | E1217 · 20VC with Harry Stebbings
Disclosure
Hamid: Invested in Slack at a $250M valuation on $500k ARR
“It was 500 K of ARR at the time... Two hundred fifty million post.”
Mamoon HamidOct 21, 2024▶ 45:00Mamoon Hamid: AI - Where Value Accrues, Startups vs Incumbents & Scaling Laws | E1217 · 20VC with Harry Stebbings
Opinion
Hamid: Data-driven VC sourcing platforms are mostly BS
“I think it's mostly BS. Yeah. Yeah. I think many have tried and failed at using the very data oriented approach to investing in startups, when at the end of the day it's about the founders and-”
Mamoon HamidOct 21, 2024▶ 46:40Mamoon Hamid: AI - Where Value Accrues, Startups vs Incumbents & Scaling Laws | E1217 · 20VC with Harry Stebbings
Opinion
Hamid: Incumbents and VCs are over-investing in AI due to FOMO
“Everyone's over-investing right now into this cycle, and because none of us can miss, whether it's the large incumbents, Or us as venture investors back in companies.”
Mamoon HamidOct 21, 2024▶ 3:10Mamoon Hamid: AI - Where Value Accrues, Startups vs Incumbents & Scaling Laws | E1217 · 20VC with Harry Stebbings
Disclosure
Hamid: Kleiner Perkins reserves a 'YOLO bucket' for rule-breaking deals
“And in some ways we have a, what we call like a Yolo bucket in our funds and where you just have this extreme conviction around the founder and the company where you're sort of willing to break the rules.”
Mamoon HamidOct 21, 2024▶ 7:34Mamoon Hamid: AI - Where Value Accrues, Startups vs Incumbents & Scaling Laws | E1217 · 20VC with Harry Stebbings
Opinion
Hamid: AI middleware is overinvested and its value will be fleeting
“There's a lot of time being spent on a lot of the middle layer between the foundation models and the applications. And I think in the middle layers, middleware, things that allow you to use those models better, faster, cheaper and build applications on top. So…”
Mamoon HamidOct 21, 2024▶ 13:21Mamoon Hamid: AI - Where Value Accrues, Startups vs Incumbents & Scaling Laws | E1217 · 20VC with Harry Stebbings
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