Jeff Fagnan

Everything Jeff Fagnan said on any show that made the record, most notable first. Each card names its show and opens the statement there.

20VC Insight

Seed-stage startups should not have formal boards of directors

“First off, I don't think seed stage companies should have boards, I really think that they can get misdirected when all they really should be focusing on is talent aggregation and product market fit.”

Jeff Fagnan Aug 13, 2018 ▶ 30:30 20VC: Why Partners Are There To Save Each Other From Themselves, Why Effective Reserve Allocation Is The Hardest Question In Venture & What Makes The Truly Special Board Members with Jeff Fagnan, Founding Partner @ Accomplice

20VC Insight

Individual partner accountability beats large VC consensus committees

“Fewer people taking deeper accountability for decisions was much better than this approach.”

Jeff Fagnan Aug 13, 2018 ▶ 12:03 20VC: Why Partners Are There To Save Each Other From Themselves, Why Effective Reserve Allocation Is The Hardest Question In Venture & What Makes The Truly Special Board Members with Jeff Fagnan, Founding Partner @ Accomplice

20VC What-if

Consensus decision-making cost Atlas Venture the Dropbox seed round

“And if that would have been the case, you know, Dropbox, we would have led to see the series a and probably kept a drew in Boston and it would have just changed everything.”

Jeff Fagnan Aug 13, 2018 ▶ 15:21 20VC: Why Partners Are There To Save Each Other From Themselves, Why Effective Reserve Allocation Is The Hardest Question In Venture & What Makes The Truly Special Board Members with Jeff Fagnan, Founding Partner @ Accomplice

20VC Disclosure

Accomplice does not reserve follow-on capital for $1.5M seed checks

“When we write an initial seed check of say a million and a half, we are usually not reserving behind that company.”

Jeff Fagnan Aug 13, 2018 ▶ 18:52 20VC: Why Partners Are There To Save Each Other From Themselves, Why Effective Reserve Allocation Is The Hardest Question In Venture & What Makes The Truly Special Board Members with Jeff Fagnan, Founding Partner @ Accomplice

20VC Insight

Force-ranking early-stage portfolio companies is a dangerous practice

“Forced ranking at an early stage portfolio is really dangerous.”

Jeff Fagnan Aug 13, 2018 ▶ 19:49 20VC: Why Partners Are There To Save Each Other From Themselves, Why Effective Reserve Allocation Is The Hardest Question In Venture & What Makes The Truly Special Board Members with Jeff Fagnan, Founding Partner @ Accomplice

20VC Prediction Not checkable as stated

Accomplice concentrates capital in portfolio companies under a $50M valuation

“And for a two hundred million dollar seed-led fund, we are trying to concentrate capital at a sub-fifty million dollar valuation.”

Jeff Fagnan Aug 13, 2018 ▶ 22:28 20VC: Why Partners Are There To Save Each Other From Themselves, Why Effective Reserve Allocation Is The Hardest Question In Venture & What Makes The Truly Special Board Members with Jeff Fagnan, Founding Partner @ Accomplice

20VC Assertion Supported

Atlas allowed partners to write $1M checks on individual conviction

“We set up where any partner on their own conviction could write up to a million dollar check on meeting an entrepreneur.”

Jeff Fagnan Aug 13, 2018 ▶ 15:35 20VC: Why Partners Are There To Save Each Other From Themselves, Why Effective Reserve Allocation Is The Hardest Question In Venture & What Makes The Truly Special Board Members with Jeff Fagnan, Founding Partner @ Accomplice

20VC Insight

Outliers are the only investments that matter in venture capital

“Consensus beat out the outliers and the outliers are the only things that matter in this business.”

Jeff Fagnan Aug 13, 2018 ▶ 16:39 20VC: Why Partners Are There To Save Each Other From Themselves, Why Effective Reserve Allocation Is The Hardest Question In Venture & What Makes The Truly Special Board Members with Jeff Fagnan, Founding Partner @ Accomplice

20VC Disclosure

Accomplice passed on follow-on rounds 10 to 15 times over valuation

“And I would say that's happened probably 10 to 15 times across the portfolio.”

Jeff Fagnan Aug 13, 2018 ▶ 21:18 20VC: Why Partners Are There To Save Each Other From Themselves, Why Effective Reserve Allocation Is The Hardest Question In Venture & What Makes The Truly Special Board Members with Jeff Fagnan, Founding Partner @ Accomplice

20VC Opinion

Court Cunningham is the best independent board member Fagnan has seen

“Perch Homes is founded by Court Cunningham, who we were just talking about, who is on the board of Inside Squared, is the best independent board member I've ever worked with.”

Jeff Fagnan Aug 13, 2018 ▶ 33:26 20VC: Why Partners Are There To Save Each Other From Themselves, Why Effective Reserve Allocation Is The Hardest Question In Venture & What Makes The Truly Special Board Members with Jeff Fagnan, Founding Partner @ Accomplice

20VC Disclosure

Fagnan's last three investments were with founders he knew for 10+ years

“My last three investments that I've made have all been with people that I've known at least for 10 years”

Jeff Fagnan Aug 13, 2018 ▶ 34:37 20VC: Why Partners Are There To Save Each Other From Themselves, Why Effective Reserve Allocation Is The Hardest Question In Venture & What Makes The Truly Special Board Members with Jeff Fagnan, Founding Partner @ Accomplice

20VC Assertion Not checkable as stated

Fagnan attended three IPO parties in his first month in VC

“When I joined venture, I went to three IPO parties in my first month.”

Jeff Fagnan Aug 13, 2018 ▶ 5:10 20VC: Why Partners Are There To Save Each Other From Themselves, Why Effective Reserve Allocation Is The Hardest Question In Venture & What Makes The Truly Special Board Members with Jeff Fagnan, Founding Partner @ Accomplice

20VC What-if

Fagnan: Joining VC a year earlier would have ended my career

“If I probably would have joined venture a year earlier, I would have done a bunch of dumb investment and probably would have been, who knows what I'd be doing now, but I don't think I would be doing what I'm doing.”

Jeff Fagnan Aug 13, 2018 ▶ 6:21 20VC: Why Partners Are There To Save Each Other From Themselves, Why Effective Reserve Allocation Is The Hardest Question In Venture & What Makes The Truly Special Board Members with Jeff Fagnan, Founding Partner @ Accomplice

The other half of the tape: Jeff Fagnan's own voice is left out of every number here. Other people bring the name up 25 times in 6 episodes across the shows. 1 statement on the record names them. every mention, with the transcript →

Who brings them up most Harry Stebbings 19Patrick Morley 3Brian Norgard 2Ankur Nagpal 1

Statements about Jeff Fagnan, by other people (1)

20VC Disclosure

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”

Ankur Nagpal Oct 20, 2021 ▶ 13:05 20VC: Breaking News: Ankur Nagpal Raises $70M for Vibe Capital, What The Next Decade For Venture Will Look Like, Do VCs Actually Add Any Value & Pre-Emptive Rounds, When To Take Them and When To Reject Them

Every mention by year

One line per show, most statements first. The link opens Jeff's full record on that show: the calibration, argument clarity, speaking style and every statement made there.

Show	Role there	Eps	Statements	Record
20VCLEDGER	Founding Partner, Accomplice	1	13	100% 1/1	full record on 20VC →