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Conversation
Highlights
Welcome to another episode of Category Visionaries — Funding the Future. In today’s episode, we’re speaking with Clancey Stahr, Managing Partner at GoAhead Ventures, a venture capital firm that has raised $180 Million in funding.
Here are the most interesting points from our conversation:
- Founding Journey: Clancey founded GoAhead Ventures in 2015, starting with initial legwork in 2013 while still a student at Stanford. He collaborated with his co-founders to connect Japanese corporations with US startups, eventually pivoting to venture capital.
- Early Fundraising: The first fund was raised in 2014, totaling $6 million from a partner in Japan and three US angels. The focus was on the team’s potential rather than a specific idea, leveraging the Stanford network.
- Investment Thesis Evolution: Initially emulating top Silicon Valley VCs, the firm evolved its thesis in 2020 with a focus on video submissions for founder pitches. This streamlined the evaluation process, making it easier to compare founders and identify the best investments.
- Video Submissions: GoAhead Ventures receives 60-80 video submissions per week, reviewing over 3,000 annually. The submission process includes a brief introduction and a three-minute elevator pitch, with a one-in-ten chance of leading to a first meeting.
- Decision-Making Speed: The firm has honed its decision-making process, providing founders with a yes or no within three days of video submission and offering a signable agreement within 24 hours of a live pitch.
- Focus on Fundraising: GoAhead Ventures prioritizes helping portfolio companies raise additional capital, recognizing that every company needs money and that this is an area where they can add significant value.
Actionable
Takeaways
Craft a Strong First Minute:
Your pitch's first minute is critical. Focus on making a strong personal introduction and presenting the problem clearly and concisely to capture attention quickly.
Emphasize Problem Over Solution:
Investors are more drawn to a deep understanding of the problem rather than a detailed explanation of the solution. Highlighting the problem can make your pitch more compelling.
Streamline the Pitch Process:
Simplify the information you provide to investors. Focus on key details that will help them make a quick and informed decision, rather than overwhelming them with data.
Maintain Transparency and Speed:
Ensure a transparent and speedy process when interacting with potential investors or portfolio companies. Quick and clear communication can build trust and enhance your reputation.
Treat All Founders as Customers:
Provide a positive experience for all founders, even those you don't invest in. This can lead to high-quality referrals and a stronger network.
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