2024’s Most Downloaded Episode: Startmate CEO Michael Batko’s Investment Secrets (Replay)

Episode Summary:In this special replay of our most popular episode of the year, Cheryl and Maxine sit down with Michael Batko, CEO of Startmate, to explore the transformative power of early-stage investing and community-driven entrepreneurship. From hardware startups to non-alcoholic beer companies, Batko shares how Startmate pushes boundaries, backs ambitious founders, and builds a thriving startup ecosystem in Australia and New Zealand. Discover how Startmate evolved from software-focused investments to a diversified portfolio across industries, leveraging the collective power of mentors and founders. Gain practical insights into crafting investment theses, fostering innovation, and redefining venture capital through collaboration and bold thinking. Whether you’re revisiting this conversation or tuning in for the first time, get ready for plenty of actionable advice and behind-the-scenes stories that shaped one of our most downloaded episodes of 2024. Enjoy the replay!Time Stamps00:00 Introduction and background on Michael Batko and Startmate.02:36 Startmate’s investment thesis and evolution into hardware and non-traditional startups.07:59 The role of community and mentors in early-stage investing.14:19 Insights into the Continuity Fund and its benefits for alumni companies.23:09 The importance of equity and carry in the Australian startup ecosystem.34:09 Startmate’s unique approach to portfolio construction and decision-making.42:07 Lessons learned from non-consensus investments like Heaps Normal.48:36 Michael Batko’s "Big Cojones" moment and reflections on bold decisions.Notable Quotes:1. "It’s not about what’s probable; it’s about what’s possible." – Michael Batko2. "Backing the hungry, not the proven, is at the heart of what we do." – Michael Batko3. "Would you want to work for this founder? That question reveals everything." – Michael Batko4. "The biggest mistake in VC isn’t losing money—it’s missing the one company that could be massive." – Michael Batko5. "Startmate is built on two core principles: giving the community a job and skin in the game." – Michael BatkoResources MentionedNo-Code Tools:• Airtable• Notion• Softr• PoryHeaps NormalEucalyptus – Guide to Employee Share Options (ESOP)Cake Equity – Equity and ESOP CalculatorSponsors:First Cheque is supported by our wonderful sponsors:Aussie Angels makes it easy for accredited investors to back early-stage startups alongside experienced syndicate leads. With no platform fees and minimum cheques from $2,500, you can build a diversified portfolio of high-growth companies with confidence.https://www.aussieangels.com/Galah Cyber: Galah Cyber are perfect for founder-lead and SAAS businesses. Galah provides advice, education, and training. Get in touch with Galah Cyber for a complimentary call to make sure you’re secured.https://dayone.fm/galah First Cheque is part of Day One.Day One helps founders and startup operators make better business decisions more often. To learn more, join our newsletter to be notified of new First Cheque episodes and upcoming shows. Mentioned in this episode:FC Vanta Ad March 2025_02FC Vanta Ad March 2025_02November 2024 - Galah CyberThis podcast uses the following third-party services for analysis: Podtrac - https://analytics.podtrac.com/privacy-policy-gdrpSpotify Ad Analytics - https://www.spotify.com/us/legal/ad-analytics-privacy-policy/

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