Nyatta: Bicycle Capital Targets 2x-4x Returns Rather Than 10x-20x
Shu Nyatta · Marcelo Claure & Shu Nyatta: LATAM's New $500M Growth Fund; Investing Billions at SoftBank | E1042 · 20VC with Harry Stebbings · Jul 31, 2023 · at 40:47
Shu Nyatta is Managing Partner at Bicycle Capital. He contrasts growth-stage underwriting expectations with early-stage venture capital.
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“Growth is different from early stage. Not every investment has to have the potential to be a fund returner. You could have every investment have the potential to be somewhere between two and four X in growth, and that's great. So if you speak to LPs, the exposure they're looking for in growth is pretty different from the exposure they're looking for at the early stage. So we don't underwrite to 20 X or 10 X potential for every investment. It's much more modest than that, but it has a lot less risk.”
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