Initialized Capital

“Their fund two is going to be a 10 X fund, I think with flock safety rippling and others.”

“I had actually left and started my own VC firm you know, got to three billion dollars under management, like in the end.”

“I mean, returned six, 700,000,650 million dollars on that investment alone.”

“I realized that actually if I stayed at initialized and didn't come back and heed the call of Paul and Jessica to write the ship at YC I would be out of a business. I, you know, I had initialized would have been out of business if YC itself was not going in th…”

“I should have sold, we got, we could have returned the fund once over in whenever the fidelity markdown was, like literally putting an SPV together to sell Zenefits and then the markdown, the fidelity markdown happened and it killed the SPV. That was one, that…”

“Rickling came in, Parker came in and we gave a term sheet. It was, you know, obviously controversial at the time, for the seed, and Gary Tan, initialized, also gave a term sheet. And at the time, there was about a ten million dollar gap. I probably offered fiv…”

“Initialize ones like 50 X tiny fund, maybe a hundred X and initialize to I bet is 10 X net for a big fund.”

“So I passed on the initialized fund one because we had just launched, yes, I know. It was bad. But- Do you know, it made three hundred and ninety million.”

“And then yes, very recently went out and brought a few of the folks over from initialized to launch a new firm, a seven, seven, six.”

“I'm a, I like, I'm a personal investor in the new, a reconstituted, initialized Gary's going to be or is an investor in seven, seven, six”

“Included in their stellar fund portfolio is the likes of Index, Initialize, True Ventures, Andreessen, and some of my favorites in Ed and Elliot at Boldstart, just to name a”

“And I actually have to give kudos to the initialized guys for taking down the notion of sort of hustle porn, as I would say. There's this concept in the valley that like you should just grind to the limits of your existence and think about yourself secondarily…”

“Post series A, series B, and later in particular, it really is about care and feeding the organization. So as a company, you've already chosen your direction. In fact, often you've chosen your go-to-market. And so now it's about taking that go-to-market and sc…”

“We actually ran the numbers recently and people who we worked very closely with previously, their startups outcomes are actually looking about three times better. Then the folks that we didn't have sort of that multi-year background and sort of process with.”

“At initialized, all the GPs get silver bullets, you know, not unlimited ones, but you know, that's sort of the release valve. And then up the middle, we basically require two strong yes in that process.”

“So we raised 2.1 million in an initial seed round. And then we did YC after they rejected us the first time, but we got Gary Tan on board and he was just terrific investor and kind of rallied, rallied lots of people. So his fund initialized, he's a YC partner …”

“I'm not going to come out here and say that we invest in voice companies. We're really not sure yet, but it is a really interesting new platform.”

“We went to them because not because they were hardcore enterprise seed investors, but really because they understood consumer markets extremely well. And we wanted to apply those same growth strategies to the enterprise market”

“And so, you know, we are frankly are waiting for that platform and it's anyone's guess when that will be.”

“For us, the right trade-off is we think that we can work with about 20 companies per year and really spend quite a lot of time with them bi-weekly to monthly meetings all the way through until they're Series A.”

“Between five, if we can target five to 10% ownership initially, that's still enough to bring in the SV Angels or the Fuel Capitals or other great investors that we especially like to work with.”

“Yeah, I think we should be disciplined around, well, We really should focus on the zero to 20 employee sort of stage. I think there are tons and tons of people out there who are fantastically great scaling operator, like series A and later investors. But for u…”

“And so Gary and Harge and I sat down and said, okay, let's start a fund. Let's raise a little bit of money. We raised about seven.”

“There's a great Gary Tan story about Coinbase where we had done their seed round”

“The most recently publicly announced one would have been WorkRamp. And the reason why is because it's so unsexy and so mandatory. Basically, it's the easiest way to train and develop an employee.”