Today, I sat down with Victor Lazarte, a Benchmark partner who transitioned from founding a billion-dollar mobile gaming company in Brazil to becoming a venture capitalist in Silicon Valley with Benchmark in 2023. Victor shared Benchmark's unique investment philosophy, which focuses on deep, meaningful partnerships with entrepreneurs, with each partner doing only 1-2 deals per year. We also spoke about the equal partnership Benchmark has, and what that means in practice day to day from a decision making and culture standpoint. This was a fun one so hope you enjoy!Throughout our conversation, Victor provided a nuanced perspective on company building, technological innovation, and the evolving role of venture capital in bringing transformative ideas to market.About Victor LazarteVictor Lazarte is a General Partner at Benchmark, a renowned venture capital firm focused on early-stage technology investments. With a background in entrepreneurship and investing, Victor brings deep operational expertise and a founder-first mindset to supporting high-growth startups.Before joining Benchmark, Victor co-founded Wildlife Studios, one of the world’s largest mobile gaming companies, where he helped scale the business to global success. His experience in building and leading companies gives him a unique perspective on product development, scaling operations, and long-term strategy.Victor is passionate about partnering with visionary founders to build category-defining companies. He holds a degree in engineering and is committed to fostering innovation across industries.Benchmark is a leading venture capital firm specializing in early-stage technology investments. Known for its hands-on, founder-first approach, Benchmark partners with entrepreneurs to build transformative companies across industries like software, marketplaces, and infrastructure. The firm operates with a unique equal partnership structure, ensuring deep collaboration and long-term commitment to its portfolio companies. With a track record of backing iconic startups such as Uber, Twitter, eBay, and Snap, Benchmark continues to be a trusted partner for ambitious founders looking to scale breakthrough ideas into world-class businesses.Timestamps:In this episode, we discuss:* Victor's Background and Journey (1:29)* Wildlife Studios and Its Growth (3:59)* Bootstrapping Success (6:53)* Understanding Venture Capital (9:48)* Benchmark's Unique Model (12:17)* Decision-Making in Venture Capital (17:05)* Open-Minded Yet Disagreeable (20:29)* Benchmark's Equal Partnership Model (22:20)* Dynamic of Disagreement (25:24)* Betting on the Jockey (30:38)* Adapting to Changing Environments (34:59)* Providing Value to Entrepreneurs (37:14)* The Current AI Technology Shift (39:26)* Identifying Fast-Improving AI Areas (42:04)* Final Thoughts and Takeaways (44:33)I’d love to know what you took away from this conversation with Victor. Follow me @SamirKaji and give me your insights and questions with the hashtag #venture unlocked. If you’d like to be considered as a guest or have someone you’d like to hear from (GP or LP), drop me a direct message on X. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit ventureunlocked.substack.com

Ask this episode

“What did the council decide on item 42?” — answered with the speaker and the moment.