The Ledger
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Zeev: I banned an LP who complained about rapid fund deployment
“I had a, an LP who joined in the third fund, and four months later, I tell him that you know, I'm raising our fine for, I finished, I'm raising, and he totally freaked out, and he started lecturing me on, he didn't call it what you called it, he called it vint…”
Zeev: I raised $1B in 2021 and am raising another $500M
“Because in 2000, in 2021, I raised three funds total, total about a billion, and then now I'm raising another five hundred million.”
Zeev: I never want to have venture partners again
“The conclusion from these two instances, especially from the second one was that I never want to have partners again. Okay. So that was my takeaway that I don't want to have partners that I, you know, I want to own my own mistakes and own, I don't want to suff…”
Zeev: I keep zero capital reserves for follow-on investments
“And I don't keep reserves, so I, you know, invested, you know, invested at all.”
Oren Zeev raised six venture funds in five years
“Since 2015, I've already done six funds, so you're right, it's even faster than annual”
Every Zeev Ventures fund is limited to five to ten investments
“All my funds have between five and 10 investments.”
Oren Zeev: Market-leading startups develop quietly in unhyped spaces before competition notices
“It's much more likely to happen when it's kind of like a space that nobody thinks much about, and the company has an opportunity to Develop quietly for a year or two or three and build real moats and real advantages. And once everyone understands that it's an …”
Zeev Ventures has backed only 40 total companies across 11 funds
“So I'm now in fund 11, and I only have 40 companies.”
Zeev: 80% of my deployed capital goes into follow-on investments
“So even if I continue to invest at the same pace from a new investment standpoint, that's only about 20% of the cash that I invest. 80% goes into later stages of companies that I got in early”
Oren Zeev: Building a multi-partner VC firm has no unique advantages
“There was no scenario that I would build a firm because, I mean, we'll probably talk about later, but I think I have all the advantages in the world without any of the disadvantages.”
Zeev: Thesis-based venture capital investing leads to groupthink and overfunded sectors
“It tends to lead you really to groupthink because at the end of the day, most of the VCs are basically very similar. So Obviously, these areas become overfunded, they become overly competitive, and yes, there will be some big winners out of this category of th…”
Oren Zeev makes cross-fund investments as standard practice
“I do cross-fund as a rule, not as an exception.”
Almost all Zeev Ventures investments are decided within 40 hours
“From my standpoint, I've always made my decisions extremely fast. Almost all my investments were done within 24 to 40 hours.”
Zeev: Zeev Ventures operates without offices, assistants, or partners
“For example, I have no physical offices. I have no I have no assistants. I have no associates. I have no partners.”
Zeev: Most portfolio companies are not seeing any customer demand weakening
“Valuations were cut by 50% in the public markets on average, but most of the businesses are still going very strong. You know, most of my companies, we don't see necessarily any weakening of demand.”
Oren Zeev: Zeev Ventures relies on serendipity over proactive sourcing
“If I'm honest, it's more serendipity. I wish I was more proactive, but it's more serendipity. Again, I'm leveraging the fact that I've been doing venture for 25 years, so I leverage the fact that I Don't maybe need to create my own opportunities because I see …”