“No, I gave my LPs three options. You can do a hundred percent upfront, 50% each year over two years or 33%. Over each year, over three years, with the minimum being 10 K per year.”
quote is from the automated transcript, cleaned for reading:
filler sounds and stutters are removed, nothing is rephrased. names can be misheard
(the analysis reads context, assessments check outside sources). how →
More from Mac the VC
Disclosure
Mac Conwell raised RareBreed Ventures with zero GP capital commitment
“So I have no GP commit. I didn't have the money for it.”
Mac the VCFeb 5, 2022▶ 12:28Mac the VC on the Journey from Homeless To Becoming A VC | Full Interview with Harry Stebbings · 20VC with Harry Stebbings
Disclosure
Mac Conwell was not an accredited investor when starting RareBreed Ventures
“I wasn't even an accredited investor when I started raising my fund, right?”
Mac the VCFeb 5, 2022▶ 12:32Mac the VC on the Journey from Homeless To Becoming A VC | Full Interview with Harry Stebbings · 20VC with Harry Stebbings
AssertionPartly supported
Yale Endowment was the first institutional LP to address post-2020 diversity
“Name one pension fund that said anything. The first people to say something was really Yale, like five, six months later. And even then nobody else said anything because they don't have to say anything because nobody knows who they are.”
Mac the VCFeb 5, 2022▶ 15:35Mac the VC on the Journey from Homeless To Becoming A VC | Full Interview with Harry Stebbings · 20VC with Harry Stebbings
Disclosure
Mac Conwell funded five startups sourced by diverse associates whose firms passed
“In one case, I had one of these associates. They've sourced three deals for me. I've had another one source too. And I know they're good deals. Follow a funding show. They're good deals. So why don't their firms appreciate the deals they're bringing up?”
Mac the VCFeb 5, 2022▶ 19:19Mac the VC on the Journey from Homeless To Becoming A VC | Full Interview with Harry Stebbings · 20VC with Harry Stebbings
Insight
Mac Conwell: VCs ignore location bias if growth reaches 40% month-over-month
“They care about money. So if you have strong enough metrics, they find a way to get over themselves, no matter where you're from. And that's all. And that's why I tell my founders, like, Hey, there may be biases against you. People may say, if you don't live c…”
Mac the VCFeb 5, 2022▶ 35:53Mac the VC on the Journey from Homeless To Becoming A VC | Full Interview with Harry Stebbings · 20VC with Harry Stebbings
Disclosure
Mac Conwell states 77% of RareBreed portfolio founders are underrepresented
“77% of my portfolio are underrepresented founders”
Mac the VCFeb 5, 2022▶ 16:01Mac the VC on the Journey from Homeless To Becoming A VC | Full Interview with Harry Stebbings · 20VC with Harry Stebbings
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