The Ledger
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Defy.vc's First Series A Investment Was Pre-Revenue and Pre-Product
“In fact, our first investment was in a company that was absolutely pre-revenue. It was a Series A. They hadn't launched their product, but it was an investment in a different set of criteria.”
Vassallo: LPs' primary concern was founders' lack of shared history
“The biggest concern is you've got a new team coming together, so Neil and I didn't have this Story of, you know, yeah, we've worked together for the last 10 years, but at different firms, we really hadn't crossed paths.”
Trae Vassallo made Eero her first personal seed investment
“Eero was my first personal seed investment.”
Defy partners personally backed Owlcam before closing fund, then led Series A
“Timing-wise, we hadn't actually closed our fund yet, so we personally put some capital in. Some other firms led the seed round, but then we closed our first close and then led his Series A.”
Defy.vc Raised Its Debut Fund Cap to $151M for One Entrepreneur
“And so, in fact, our cap was one 50. And so it's actually a great story. And I think it was a really good example of How much we care about our entrepreneurs, but there was an entrepreneur who had been an incredible, it is an incredible reference for us. We've…”
Vassallo: LPs Demanded Deal Processing Examples During Defy.vc Fundraising
“We did a small personal seed investment that wouldn't really have been what we would have done had the firm been in existence, but LPs absolutely wanted to see how we process deals and how we work together as a team, and so it was definitely a great example th…”