Patis deployed $60M across 275 startups as a side hustle
Alex Patis · I Became A Venture Capitalist With Only $1,000 · Nov 15, 2023 · at 1:58
Syndicate lead Alex Patis explains to Pat Walls how he built an angel investing track record while working a standard full-time job.
0:00 / 0:11exact quote · 11.5s
▶ Watch the full episode on YouTube → 720p mp4 · rendered on demand · StarZero watermark
“So I was able to invest in 275 companies Deploy about sixty million in total capital, all as a side hustle while I was kind of operating as an early stage employee at a startup.”
quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →
More from Alex Patis
Patis relies on lead VC funds to underwrite due diligence
“I am not built Like an institutional fund with management fees to work nine to five on this and do the diligence that a traditional institutional fund would do. So piggybacking or leaning on these funds that are set up to lead rounds, set terms, and sign off o…”
VCs ignore small-check angels until they source a funded deal
“Most VCs that I meet aren't going to give a shit about me, right? They, like, my check is small. I'm insignificant to them. But if you're able to share high quality deals or you actually source a deal that they end up doing, you'll see the relationship change …”
Patis's first syndicate startup grew from a $6M to $500M valuation
“In this particular company, they were raising two million dollars at a six million dollar valuation. We had the opportunity to invest a 150,000 as the final trunch, and that company today has recently raised at a five hundred million dollar valuation.”
Patis's syndicate allows LPs to co-invest with tier-one VCs for $1,000
“Part of my role is gaining that access, getting the allocation to participate in that round alongside these tier one, these institutional venture capital funds for as little as a thousand dollars per deal.”
Patis sources venture syndicate deals through five primary channels
“Really there's Five different ways that we typically source deals and access founders. The first is co-syndicating with other syndicate leads like myself, right? A lot of times there will be other syndicates that maybe have a larger allocation than they can fi…”