Show notes
Jules Miller is a partner at Mindset Ventures, an international venture capital firm that invests in early-stage enterprise software companies. Prior to working in venture capital, Jules also founded her own company and worked at a variety of startups. She has an extensive background in blockchain and has been in the venture capital space for quite some time.Full Show NotesEpisode Notes From founder to venture capitalist [1:12]Angel investors vs venture capitalists … what's the difference? [3:38]Why did Jules decide to become a VC investor after creating her own startups? [4:18]Funding a diverse group of founders and working to create change in the VC industry [6:01]Growth and people — the two most important qualities Jules focuses on when funding projects [8:03]Venture capitalists focus on different business stages and each developmental stage of a startup carries different levels of risks [10:48] If you are not planning to grow 200% to 300% a year, reconsider seeking out VC funds [13:42]Most VCs will want a seat on the company’s board, so be prepared to give up influence in your company if you choose to seek VC funding [14:36]VCs invest in startups that scale quickly and need to make quick decisions. Overinvolved CEOs may struggle with this [15:41]The coaching and mentorship relationship between a founder and the VC firm [18:13]How to pitch to VC firms on the first meeting — Hint: be concise [20:41]Jule’s investment committee will pay attention to the five Ts: team, TAM, technology, traction, and terms [23:02]Investors typically want 10x on their revenue over five to ten years [26:21]Fit matters. Good ideas may not be funded for various reasons [28:29]People problems and team dynamics can be reasons startups do not succeed in the initial stages [30:12]Ask questions! Both VCs and founders need to ask each other questions and assess fit [33:08]Don’t take rejection personally, and learn from rejection [36:41]Tech industries and software businesses with strong margins are hot right now [39:55]Focus on the relationship you are trying to form with the VC firm and engage the audience [43:48]Pivoting is still possible as the company grows, and there are always options [46:22]How the pandemic changed the locations of startup hubs (Hint: You don’t need to live in NYC or Silicon Valley to succeed) [49:50]Jules’s word of advice “If you can show growth, you can raise venture capital” [52:52]Get more exciting entrepreneur content and podcast exclusives on StartupSavant.com. Watch Startup Savant founder interviews on YouTube and follow us on social media: Instagram TwitterLinkedIn
