The Ledger
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Cubitt: Mistral Invests Small at Pre-Seed and Significantly More at Series A
“What we do is we invest upside down. So we invest a small amount at the pre-seed stage and work very, very hard with our entrepreneurs to get to a series A. And at the series A, we invest significantly more than we did at the seed stage.”
Mistral Targets Mid-Hundreds-of-Millions Exits Over Unicorns in Canada
“Especially in, in a tier two market like Canada, if you will, as opposed to Silicon Valley, you know, there's less unicorns born here. So we are looking for the solid, but mid hundreds of millions of dollars exit as opposed to the billion dollar unicorns.”
Cubitt: I study startup failure clues more than success indicators
“So I listened to a lot of podcasts and books around startups, successes and failures, looking for clues on how companies can fail more than looking for success indicators.”
Cubitt: 'Tell me about inception' is his first question in every interview
“My first question with every interview is tell me about inception. So why do you want to do this so badly that you're willing to break through walls and spend years in the cold as an unknown at the shot for the shot of being a successful entrepreneur?”
Cubitt: Only 10 to 15 Percent of His Deals Exited Highly Positively
“To the extent that I've done 50 or 60 deals in my career, you know, there's been a lot of scars, a lot of learning, right? So probably only 10 or 15% of those have exited in a very positive way, and that's the reality of the economics.”