E133: Lessons from Investing in 2200 Startups (in 23 Minutes)
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What is the main philosophy on diversity, equity, and inclusion (DEI)?
Tell me about your philosophy on DEI. I tend to be a very moderate person in my views. But I also think that like everything in life, even when there is a really good, solid, moral reason to do something or to stand for something, there is always almost an inevitable kind of risk that people co-opt. these things for their own purposes. And so you have the good version of DEI, which says, you know, talent is universally distributed and doesn't see races or genders or any other characteristics. But opportunity isn't. And that's the reality of the world in which we live and we have lived in is we can absolutely and I am the first one to stand by saying merit is the most important thing. It's not just about being an incredible worker, hard worker person. It also matters where you grew up, what kind of networks you had access to, what kind of resources you had access to. And so realizing that talent is uniformly distributed and opportunity isn't is not a bad thing.
What is bad is co-opting this mission in ways that are perverted and that ultimately don't do anything to advance equality, sometimes perpetuate different inequality. So I think there's a lot of absolutely legitimate criticisms that need to be levied at what DEI had become almost as an industry. At the same time, we at Gangel's believe that there is work that we can do to provide more access and more opportunities to people, entrepreneurs, investors, folks that have traditionally just haven't been able to access the incredible wealth and value and innovation engine that is venture capital. And we exist to do that. What is Gangel's? Gangel's today is one of the largest, most active venture investment syndicates in the world. We invest in companies that look to us as being partner with them to help them build truly inclusive organizations at the levels of talent, governance, and capital.
We help them with hiring, recruiting, bringing on board members, advisors, and we represent an incredibly diverse group of investors that come from all paths of life, all genders, all ethnicities, really all type of peoples that traditionally have found it hard to get access to the type of opportunities that Gainesville is able to bring them. And because of them, we've built a really vibrant community of investors that care about our mission and get to invest in some of the best and most highly performing venture backed companies in the world. When you guys started, you made a very interesting decision. You allow LPs to invest as little as $1,000 per company. Walk me through that decision-making.
And when you bring on a group of investors and you're basically trying to... Position yourself and message to folks that often, while they have the means, because we work only with accredited investors, they have the means. They maybe traditionally have never had the opportunity, the access, the ability, the education, the experience of investing in the venture asset class.
How does Gaingels promote access to venture capital?
then making it easy for them to do so becomes an important piece of the equation. So accessibility can take many forms. And one of them is to allow people to make investments as little as $1,000 into opportunities. When you take an amount of capital that an angel investor would want to allocate to this asset class, say, $25,000, $50,000, and you get to split it and diversify across 10, 20, 30 investments across the year, then you're doing a lot of things. You are educating yourself. You're getting in touch with different terms, different type of companies, different sectors. You get to provide these individuals with both that access and an education into what it means to be an investor in a private company.
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Chapters
7 chapters
1
What is the main philosophy on diversity, equity, and inclusion (DEI)?
0:47–4:22
2
How does Gaingels promote access to venture capital?
4:22–7:40
3
What investment strategies can angel investors use?
7:40–11:00
4
How much should high net worth individuals invest in venture capital?
11:00–12:22
5
What are the risks and timelines when investing in startups?
12:22–13:59
6
How do different startup sectors correlate in venture capital?
13:59–16:21
7
What is the importance of diversification in a venture capital portfolio?
16:21–23:40
Speakers
1 identifiedMore from How I Invest with David Weisburd
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