Everything David Rolf said on any show that made the record, most notable first. Each card names its show and opens the statement there.
Rolf: AI Agents Will Become Economic Actors That Transact Money
“So you have general AI agents. It's very early days, but they will become economic actors. They will buy things. They will sell things. They will you know, conceptually push the button to move money.”
Rolf: Visa Ventures faces no LP fundraising cycles or DPI pressure
“We're fortunate that, that we don't need to fundraise and we don't really have too much of a portfolio construction overlay, right? Is that we care about financial returns, but you know, our treasurer is not coming to my team, sort of pounding the table for DP…”
Rolf: Visa Ventures' financial returns cannot move the needle for Visa
“In the context of six hundred billion market cap company that Visa is what we do financially is not going to move the needle”
Rolf: Enterprise buyers will not switch suppliers for only 20% improvement
“If you're really selling to enterprise buyers having something that's like 20% better than what they have today is not going to do it, right? Because there's a lot of work. Like I've gone through the procurement process at companies, like it's an investment, r…”
Rolf: Big tech product releases render startups obsolete faster in AI
“You might be working really hard on something that can, that then gets Completely obviated by a product release from a large company. And that's even faster now than it has been in previous cycles.”
Rolf: Visa Ventures Invested Early in Stripe, Square, Klarna, and Marqeta
“My predecessors had the great foresight to invest in Stripe and Square and Klarna and Marquetta and a lot of these companies as they were getting going.”
Rolf: Half of Visa Ventures' Portfolio Is Outside North America
“Actually half our portfolio is outside North of America. Outside North America. So we've made a lot of investments in all parts of the world.”
Visa Ventures expands to seed stage to fund AI agents
“So historically, most of our investments have been A to C. But we've done a few seed investments recently in rapidly emerging spaces, right? If I take agentic commerce, there's not a lot of series B or C stage companies there. So we've done a couple of seed in…”
Rolf: Visa Ventures Does Not Lead or Price Investment Rounds
“So we don't lead or price rounds, so we're not the ones that are out there setting the valuations.”
Rolf: Visa Ventures Writes Multi-Million Dollar Checks Without Ownership Targets
“So typical check size for us is a couple of million dollars. So we're not fighting for allocations. We're not saying we need 10% ownership and trying to elbow people out of the way.”
Rolf: Visa Ventures invests in B2B companies rather than direct-to-consumer tech
“We don't invest in direct to consumer tech companies. Generally, those are our customers, but we invest into business to business companies.”
INNOVATORS & INVESTORSLEDGER