Drew Taggart, partner at Mantis VC and member of The Chainsmokers, outlines his fund's co-investment strategy alongside traditional lead venture firms.
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“Due to the size of our fund and the check size that we write, we're not leading rounds. Typically, we're not taking up the lion's share of a lot of these rounds.”
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More from Drew Taggart
Opinion
Drew Taggart: Mantis VC is bearish on investing in music tech startups
“We actually are pretty bearish on investing in music tech companies, which I feel like we see probably most of them that are out there as of our profile, but we haven't made an investment in the music space yet.”
Drew TaggartSep 21, 2020▶ 9:5220VC: The Chainsmokers on Raising Their First $35M Fund and Entering The World of Venture, Dealing with Vulnerability and Insecurity Today & How Music and Venture Compare; The Similarities and Differences
Disclosure
Drew Taggart: Making Mantis VC succeed is live-or-die for The Chainsmokers
“This is a new space and there's a lot riding on this and it's very live or die for us to make this work.”
Drew TaggartSep 21, 2020▶ 8:3920VC: The Chainsmokers on Raising Their First $35M Fund and Entering The World of Venture, Dealing with Vulnerability and Insecurity Today & How Music and Venture Compare; The Similarities and Differences
AssertionNot checkable as stated
Drew Taggart: Alex Pall relentlessly hassles founders until they explicitly reject him
“Alex's superpower, too, is he's the world's greatest haggler, and he'll just hassle people. Like, if you say you're like, yeah, we're interested in having you in this round, you're not gonna not hear from Alex once or twice a day until you, like, officially pa…”
Drew TaggartSep 21, 2020▶ 17:1920VC: The Chainsmokers on Raising Their First $35M Fund and Entering The World of Venture, Dealing with Vulnerability and Insecurity Today & How Music and Venture Compare; The Similarities and Differences
Insight
Taggart: Resume achievements do not protect against depression and anxiety
“The thing about depression and anxiety is it doesn't matter what is on your resume. It's about how you feel about yourself”
Drew TaggartSep 21, 2020▶ 24:0720VC: The Chainsmokers on Raising Their First $35M Fund and Entering The World of Venture, Dealing with Vulnerability and Insecurity Today & How Music and Venture Compare; The Similarities and Differences
PredictionNot checkable as stated
Taggart: Mantis VC will narrow its thesis around synergistic investments
“Just narrowing our thesis to the point where like the investments we make, the businesses that we have access to, We'll have great synergy with all of the other things that we do and who we are as people.”
Drew TaggartSep 21, 2020▶ 25:4820VC: The Chainsmokers on Raising Their First $35M Fund and Entering The World of Venture, Dealing with Vulnerability and Insecurity Today & How Music and Venture Compare; The Similarities and Differences
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