Everything Rob Lacher said on any show that made the record, most notable first. Each card names its show and opens the statement there.
Lacher: Poaching experienced VCs creates an average index fund
“If, you can do it super easy and say, look, I just poach from other funds. I hire people who have been three years in VC. They have the networks. They know how to look at deals. You just get An average index of all the other funds.”
Lacher: European Series A venture market is a bloody red ocean
“So yeah, we think, you know, if you look at Europe when we started Visionaries, we thought Series A was pretty crowded. You have an incredible amount of funds with kind of a hundred to seven hundred million in fund size that typically enter Series A, but that …”
Lacher: Two-thirds of European founders reject US multi-stage seed term sheets
“I see, to be honest, two thirds of the founders at seed stage that have those term sheets, rather going for European seed fund setup, because they want to keep the A-Round open to choose from those funds.”
Lacher: Multi-stage funds always preempt Series A for top seed investments
“Everyone knows if the deal is amazing, they bloody preempt it.”
Lacher: Venture Capital Is All-In, Part-Time VCs Fail Founders
“I think it's an either all in or not business because the moment you start hanging out maybe in southern France at your holiday home and tanning and only working three days a week, I think that moment you're not a good VC anymore because every founder will say…”
Lacher: European family businesses collectively represent Europe's Google
“If you take those family businesses together, I think this is our Google.”
Lacher: La Famiglia's First Fund Achieved a 10x Return
“The fund is now at 10 times the money that we invested and it's doing well.”
Lacher: VC candidates demanding high salaries lack entrepreneurial risk tolerance
“So if someone is asking for a high salary, that person is not willing to take risks. It's not willing to, it's not believing enough in the entrepreneurial spirit to really kind of build something essential”
Lacher: Visionaries Club trades low base salaries for higher carry
“We don't pay high salaries at Visionaries. I think if you go to some of the multi-stage funds in London, maybe you get twice the salary, but we're pretty generous with Kerry, and people know that they can build a career faster than at other funds if they perfo…”
Lacher: Visionaries targets 10–15% ownership in 80% of seed investments
“We say 80% of our seed portfolio is 10 to 15% ownership and 20% will leave room if they're exceptional teams”
Lacher: Visionaries Club sources 60%-70% of deal flow via WhatsApp groups
“So the way we source deals, I'd say some 60, 70% are through our founder networks that we typically were operated in WhatsApp groups and that's kind of how they share deals”
Lacher: 90% of companies in Europe are family businesses
“What we have in Europe is, 90% of our companies are family businesses.”
Lacher: La Famiglia Fund I Backed Deel, Personio, and Other Unicorns
“So we've invested in 30 companies. Many of them have turned unicorns or decacorns like Deal, Presonio, Shoko, Forto, where we've had the privilege to be seed investors.”
Lacher: Never Compromise on Partnership Setup When Founding a VC Firm
“So the one thing you shouldn't do is compromise on the partnership setup, because it's a very, very long-term game.”
Lacher: Visionaries Club Scaled to $600M AUM in Three Years
“We've built Visionaries within three years, a great fund, now six hundred million under management”
Lacher: Visionaries aims for 5 to 10 seed deals per year
“We want to rather have maybe five to 10 investments a year in a seed fund, spending time with the founders and then just having maybe 40 deals and just knowing maybe the name of one or two founders.”
Lacher: Visionaries Club allocates 60% of seed fund to follow-on reserves
“We have 60% reserve in a seed fund to follow on.”
Lacher: Visionaries Club Avoided Doing Many Secondaries During Market Peak
“We didn't do many secondaries, for example, in our portfolio, which would have been maybe attractive because we still believe those companies have such a great kind of journey ahead of them.”
Lacher: BioNTech raised $130 million seed round led by Strüngmanns
“It was a hundred thirty million seed round led by the Strugmann brothers, who were basically farmer entrepreneurs.”
Lacher: La Famiglia Started as a $40M Fund for 30 B2B Startups
“So that's how I started La Familia with a group of friends, which was a small, forty million angel fund back then that we invested into 30 B to B companies.”
Lacher: Visionaries Club's LPs are exclusively unicorn founders and family business owners
“Look, I think the main difference, if you look at visionaries, is that on, on our investor side, we only have successful entrepreneurs. On the one hand side, we have 30 unicorn founders that have built great digital companies, like the founders of Miro, UiPath…”
Lacher: Visionaries Club early growth fund enters rounds at ~$100M valuation
“The average entry price point for our early growth fund, it's really early, it's not growth, right? So it's, I would call early series B or late series A, it's around a hundred million.”
Lacher: Visionaries Club Co-Invests With Multi-Stage Funds in 20% of Deals
“We team up a lot with multi-stage funds at seed. I'd say 20% of our deals.”