Assertion Supported AI assessment confidence: 95% certainty 5/5 debate potential 1/5

Chris Sacca hosted three-day founder deep-dive offsites at his Truckee home

Ron Bouganim · 20VC: The 2 Core Roles Played By The Best Seed Investors Today, What To Look For In Potential Co-Investors & Why Seed Funds Can Grow Ownership in Their Best Companies Across Rounds with Ron Bouganim, Founder @ Govtech Fund · Oct 29, 2018 · at 34:01

Ron Bouganim, founder of GovTech Fund, describes Lowercase Capital founder Chris Sacca's intense hands-on approach with portfolio companies.

0:00 / 0:12exact quote · 12.0s
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“Chris Saka Had his famous offsite over in Truckee, north of San Francisco, in ski country, where he would sequester these entrepreneurs for like three days, living in his home, and all they would do was these deep dives.”

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More from Ron Bouganim

Assertion Not checkable as stated
GovTech Fund's portfolio companies average a sales cycle under 90 days
“So the average sales cycle in our portfolio is actually less than 90 days. So let's start with that fact.”
Ron Bouganim Oct 29, 2018 ▶ 15:17 20VC: The 2 Core Roles Played By The Best Seed Investors Today, What To Look For In Potential Co-Investors & Why Seed Funds Can Grow Ownership in Their Best Companies Across Rounds with Ron Bouganim, Founder @ Govtech Fund
Insight
Government agencies actively market software vendors to their peer agencies
“Governments are unique in that when they adopt innovation, one of the things they'll often do, and literally this happens in the U.S. Hundreds of times a day, is once they adopt an innovation in a given department, since they're not earning stock options and b…”
Ron Bouganim Oct 29, 2018 ▶ 19:20 20VC: The 2 Core Roles Played By The Best Seed Investors Today, What To Look For In Potential Co-Investors & Why Seed Funds Can Grow Ownership in Their Best Companies Across Rounds with Ron Bouganim, Founder @ Govtech Fund
Insight
Shared procurement vehicles make government software sales faster than enterprise sales
“So I've seen many cases, actually, where it's faster than a traditional enterprise. We will see multiple agencies jump onto the same procurement vehicle, making that sales process look more like an upsell to an existing customer rather than a cold start sales …”
Ron Bouganim Oct 29, 2018 ▶ 15:35 20VC: The 2 Core Roles Played By The Best Seed Investors Today, What To Look For In Potential Co-Investors & Why Seed Funds Can Grow Ownership in Their Best Companies Across Rounds with Ron Bouganim, Founder @ Govtech Fund
Disclosure
GovTech Fund targets startups hitting $25M ARR within four years of investment
“We're looking for are companies that can hit twenty-five million dollars of annual recurring ARR, annual recurring revenue, Within three to four years of our investment. So that means you roughly need to be growing 15 to 17% per month. We have a number of comp…”
Ron Bouganim Oct 29, 2018 ▶ 18:57 20VC: The 2 Core Roles Played By The Best Seed Investors Today, What To Look For In Potential Co-Investors & Why Seed Funds Can Grow Ownership in Their Best Companies Across Rounds with Ron Bouganim, Founder @ Govtech Fund
Assertion Contradicted
US government procurement spending is ten times Amazon's Gross Merchandise Volume
“The U.S. Government spends a trillion dollars a year on stuff. Forget about, like, missiles and submarines. I'm talking about, like, paper and pencils. It's 10 times Amazon's current GMV, just what the U.S. Government spends every year.”
Ron Bouganim Oct 29, 2018 ▶ 26:01 20VC: The 2 Core Roles Played By The Best Seed Investors Today, What To Look For In Potential Co-Investors & Why Seed Funds Can Grow Ownership in Their Best Companies Across Rounds with Ron Bouganim, Founder @ Govtech Fund
Disclosure
One-third of GovTechFund's deal flow comes directly from the US government
“In fact, probably about a third of our deal flow today comes from the U.S. Government. I think I'm the only VC that can say that.”
Ron Bouganim Oct 29, 2018 ▶ 28:31 20VC: The 2 Core Roles Played By The Best Seed Investors Today, What To Look For In Potential Co-Investors & Why Seed Funds Can Grow Ownership in Their Best Companies Across Rounds with Ron Bouganim, Founder @ Govtech Fund
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