The Ledger
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Nagpal Asserts That the Majority of VC Investors Detract Value From Startups
“I think the majority of investors take away value, not a ton, take away value.”
Good Businesses at Cheap Prices Are Often the Worst Venture Investments
“My worst early investments were things that were frankly good businesses at great prices, and as a founder, you know, get trapped into being like, wow, this is actually a really solid business or profitable, the price is incredible, but then you realize this m…”
Vibe Capital Charges Zero Management Fees to Invest 100% of Capital
“We also charge zero management fees. So a hundred percent of the capital we raised ended up being invested.”
Middle 80% of VC Funds Will Get Squeezed Out by Top Firms
“I think there's, like, this, like, 80% of everything else in the middle, I think, is who I think will compete it against from both sides. Like, if you're not amongst the best firms, or if you're not an operator that thinks like a founder, moves at the speed of…”
Venture Capital Investing Is Vastly Easier Than Operating a Company
“Having operated a company for seven years, there is nothing that we do as investors that is even remotely close to, you know, how hard actually running and operating a company is, which is why I know it's a cop out of an answer, but like literally nothing I do…”
Vibe Capital Will Slow Down Investments in Overheated Markets Like Pakistan
“But yeah, so right now, a lot of those markets are too heated, and we're going to slow down a little bit.”
Accomplice's Jeff Fagnan Is Vibe Capital's Largest LP
“He went from that to the starting Spearhead, giving me an angel fund, to now developing into our largest LP, where we're co-investing in deals together”
Vibe Capital Turned Down Recent Secondary Liquidity Offers From Large Firms
“I mean, just in the last two months, we've had the chance to sell out of positions. We're not going to because that would be stupid at this stage from large firms coming in and offering that kind of liquidity”
Vibe Capital Does Not Set Aside Formal Fund Reserves for Follow-Ons
“So we never kept formal reserves just because I want to have the flexibility downstream to adapt to new information, right?”
Nagpal Personally Funded 33% of Vibe Fund I and 25% of Fund II
“I put a large amount of capital into the fund myself. So for the first fund, it was, you know, a third of the fund for the second, probably 25% of the fund.”
Ankur Nagpal Launches Vibe Capital Fund II With At Least $70M
“We're now excited to launch fund two, which will be, you know, an At least seventy million dollars, maybe a little bit more.”
Nagpal Admits Vibe Capital Fund I Was Overly Diversified With 80 Companies
“So, you know, we ended up with almost 80 companies in fund one, which was very clear that it was too many and it was a little bit too diversified.”
Vibe Capital Fund II Targets 40 Core Positions Up to $4M
“So for fund two, our goal is to concentrate a little bit more. I think we'll end up with roughly Four D-ish core positions, and by core positions, I would define them, you know, average of one and a half million dollars per position, but there'll be a range, I…”