The Full Ratchet (TFR): Venture Capital and Startup Investing Demystified

On this special segment of The Full Ratchet, the following investors are featured:

- Henikoff

- Neumann

- Go

Each investor highlights a situation where they decided not to invest, why they passed, and how it played out.        

 

To listen more, please visit http://fullratchet.net/podcast-episodes/
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Direct download: IS004_passed_henikoff_neumann_go.mp3
Category:Investor Stories -- posted at: 1:41pm EDT

On this episode of The Full Ratchet Nick covers part 4a of Best Practices for Angel Investing including: Overview of Seed Investing, Developing an Angel Investor Strategy, Identifying startups:  Dealflow Evaluation & picking startups, Overview: The Team, The Product, The Market, Structuring the Deal...

Itunes:  http://bit.ly/1yNvz3k

Direct-audio:  http://bit.ly/1xewycg

SoundCloud:  http://bit.ly/1fZU06S...

 

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Direct download: FR027_BP_Eval_p1.mp3
Category:Podcast Episodes -- posted at: 1:47pm EDT

Christopher Mirabile joins Nick on The Full Ratchet to discuss Angel Investing evolution and changes including: Can you briefly summarize the traditional Angel Group model from a decade ago and why it worked okay then? You highlight four major themes that have evolved with the modern angel group.  The first is...

 

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Direct download: FR026_Mirabile.mp3
Category:Podcast Episodes -- posted at: 4:26pm EDT

On this episode of The Full Ratchet Nick covers part 3 of Best Practices for Seed & Angel Investing including: Overview of Seed Investing, Developing an Angel Investor Strategy, Identifying startups:  Dealflow Evaluation & picking startups, and Structuring the Deal. Today we address item #3, Deal-flow, identifying startups to invest in.

Itunes:  http://bit.ly/1qrd41C...

 

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Direct download: FR025_Best_Prac_p3_Dealflow.mp3
Category:Podcast Episodes -- posted at: 4:22pm EDT

On this episode of The Full Ratchet Nick covers part 2 of Best Practices for Seed Investing including: Overview of Seed Investing, Developing an Angel Investor Strategy, Identifying startups:  Deal-flow Evaluation & picking startups, and Structuring the Deal. Today we cover how to develop an angel investor strategy and next time we...

 

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Direct download: FR024_Best_Prac_p2.mp3
Category:Podcast Episodes -- posted at: 4:02pm EDT

 

On this special segment of The Full Ratchet,

the following investors are featured:

  • Imran Ahmad

  • Dave Berkus

  • Rob Go

Each investor describes their investment thesis and

how they evaluate startups for investment.

 

To listen more, please visit http://fullratchet.net/podcast-episodes/
for all of our other episodes.

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Direct download: IS003_Strategy_Ahmad_Berkus_Go.mp3
Category:Investor Stories -- posted at: 1:37pm EDT

Gabriel Weinberg joins Nick on The Full Ratchet to discuss his lessons learned from five years of angel investing including: Can you first highlight the basic stats of your first few years angel investing? Talk about how you first set your basic strategy on angel investing? With regard to each item in...

 

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Direct download: FR022_Weinberg2.mp3
Category:Podcast Episodes -- posted at: 3:00pm EDT

On this episode of The Full Ratchet Nick covers the first element of Best Practices for Seed & Angel Investing.  This series will be covered in five sections from before you begin until you are managing an active portfolio.  These sections include: Before you begin…  An Overview of Seed Investing...

 

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Direct download: FR023_Best_Prac_p1.mp3
Category:Podcast Episodes -- posted at: 2:40pm EDT

Rob Go joins Nick on The Full Ratchet to discuss VC Portfolio Strategy including: What are the five main parameters that VCs consider with regards to portfolio strategy? From your standpoint, what is the single best strategy that a VC firm can employ? How is your portfolio strategy structured and why? As you watch...

 

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Direct download: FR021_Go.mp3
Category:Podcast Episodes -- posted at: 1:01pm EDT

Jerry Neumann joins Nick on The Full Ratchet to discuss non-Unicorn Investing including: Can you give us a brief overview of Aileen Lee’s study on Unicorns, the results and the lessons from those results? You mention two main VC strategies for investing in unicorns…  An easy way and a hard way...

 

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Direct download: FR020_Neumann.mp3
Category:Podcast Episodes -- posted at: 2:28am EDT

On this special segment of the Full Ratchet, the question “Why I Invested in a Startup” is addressed by: Dave Berkus, Troy Henikoff, & Ann Winblad. Each investor highlights their own unique scenario with a startup, what the key factors were that led to “Yes”  and how that investment has worked out.

 

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Direct download: IS002_Why_I_Invested_BerkusHenikoffWinblad.mp3
Category:Investor Stories -- posted at: 6:34pm EDT

Imran Ahmad joins Nick on the Full Ratchet to discuss Due Diligence including: What is due diligence is and why it is performed? How is a due diligence plan constructed and who most often executes the plan? How long can the process take from first meet to investment? Diligence is often described...

 

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Direct download: FR019_Ahmad.mp3
Category:Podcast Episodes -- posted at: 2:47pm EDT

On this special segment of the Full Ratchet, the question “Why I Passed on investing in a Startup” is addressed by: Brad Feld Ann Winblad & Gabriel Weinberg Each investor highlights their own unique scenario with a startup, discusses why they chose not to invest and, in some cases, if that was a...

 

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Direct download: Special_001_Passed_Feld_Winblad_Weinberg.mp3
Category:Investor Stories -- posted at: 12:29pm EDT

Dave Berkus joins Nick on The Full Ratchet to talk fundraise types & structures including: Can you start us off with a history of funding structures in venture capital and how they have evolved to where we are at today? Can you highlight the major categories of financing and when they are...

 

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Direct download: FR018_Berkus.mp3
Category:Podcast Episodes -- posted at: 3:05pm EDT

Troy Henikoff joins Nick on The Full Ratchet to talk Startup Accelerators including: Can you start us off with an overview of what an accelerator is and how it differs from incubators? You mentioned that startups apply and go through a selection process.  Can you walk us through that process from...

 

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Direct download: FR017_Henikoff.mp3
Category:Podcast Episodes -- posted at: 2:00am EDT

Erin Griffith joins Nick on the podcast to discuss venture in the media including: If you take a 30,000 foot look at the media environment what are the major categories of venture players within media? How has the mix of players changed in recent years? This certainly isn’t new, but...

 

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Direct download: FR016_Griffith.mp3
Category:Podcast Episodes -- posted at: 11:23am EDT

In this episode of The Full Ratchet, the Takeaways and Tips from Episodes 1 – 10 are recapped.  Every once in a while, review episodes will be released as listeners have requested.

Itunes: http://apple.co/1KYMnW6

Direct Audio: http://bit.ly/1Jtoy8J

SoundCloud: http://bit.ly/1GF2hmd

 

To listen more, please visit http://fullratchet.net/podcast-episodes/
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Direct download: FR015_Recap.mp3
Category:Podcast Episodes -- posted at: 2:54pm EDT

Ann Winblad joins Nick on The Full Ratchet to discuss the stages of fundraising including: We often hear financings referred to as Seed, Series A, Series B, etc.  Can you start us off with a general overview of the stages, the amounts being raised and the average post-money valuations at each? What...

 

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Direct download: FR014_Winblad.mp3
Category:Podcast Episodes -- posted at: 1:03am EDT

Bill Payne joins Nick on The Full Ratchet to discuss the Convertible Note including: What is a Convertible Note? What are it’s key elements and terms that are often negotiated? When did convertibles first begin to be used and why? Can you explain how the cap, discount and interest rate work? Can...

 

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Direct download: FR013_Payne.mp3
Category:Podcast Episodes -- posted at: 8:12pm EDT

Glenn Gottfried joins Nick on The Full Ratchet to discuss early-stage advising including: When you first engage, where are startups at in the fundraising process? Let’s start with “The Where”…  Where do you find startups with strong-potential? Once you’ve identified a startup, what happens next in the initial engagement process? What is...

 

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Direct download: FR012_Gottfried.mp3
Category:Podcast Episodes -- posted at: 8:43pm EDT

Gabriel Weinberg joins Nick on The Full Ratchet to discuss why most startups fail including: Many talk about how startups fail b/c of product or building a product.  You believe that the main source for startup failure, is for a different reason.  Tell us what that is. You’ve noted five mistakes that contribute...

 

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Direct download: FR011_Weinberg_1.mp3
Category:Podcast Episodes -- posted at: 3:00am EDT

Brad Feld joins Nick on The Full Ratchet to discuss the Term Sheet including: Economic Terms: Valuation Liquidation preference:  preference and participation Pay-to-play Vesting Employee pool and/or the option pool Anti-dilution Control Terms: Board of Directors & Board Observers Protective Provisions Drag-Along Agreement Conversion

Itunes:  http://bit.ly/XDVSZR  

Direct-audio:  http://bit.ly/1sb4ofz  

SoundCloud:...

 

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Direct download: FR010_Feld.mp3
Category:Podcast Episodes -- posted at: 4:53pm EDT

Michael Gruber joins Nick on The Full Ratchet to discuss Angel Groups, including: What is an angel group? What are the key functions of the Angel Group Leader or Coordinator? What value does an angel group provide to its investors? When investments are made, how are they typically organized? We’ve discussed...

 

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Direct download: FR007_Gruber.mp3
Category:Podcast Episodes -- posted at: 4:46pm EDT

Jeffrey Carter (part 2) where we finish the discussion on Valuation and also address ethics, and the Midwest Venture Environment. 

Key Takeaways: I wanted to highlight a few...

 

Itunes:  http://bit.ly/1qL2Uce  

Direct-audio:  http://bit.ly/1s1sebY  

SoundCloud:  http://bit.ly/1HnmAez

Guest Links: Hyde Park Angels, West Loop Ventures, Points and Figures Blog, Points and Figures Tumblr

 

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Direct download: FR009_Carter2.mp3
Category:Podcast Episodes -- posted at: 2:24am EDT

Jeffrey Carter  joins Nick on The Full Ratchet to discuss Valuation, including: Why is the valuation and price/share a critical deal term for investors to be well-informed about? What is the difference between a pre-money and post-money valuation and can you give us an example that illustrates what each would be...

 

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Direct download: FR008_Wave.mp3
Category:Podcast Episodes -- posted at: 12:47am EDT

George Deeb joins Nick on the Full Ratchet to discuss investment criteria & evaluation of startups including: What key questions should a startup be able to answer, that precedes evaluation (ie. If a start-up can’t answer these questions, don’t waste your time evaluating)? At a high-level, what are the categories...

 

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Direct download: FR005.mp3
Category:Podcast Episodes -- posted at: 8:42pm EDT

Charlie O’Donnell joins Nick on The Full Ratchet to discuss dealflow, including: What does the term “dealflow” mean? How do you find great startups?  Where are your main sources for dealflow and what is the percentage from each? Where do you tend to find the most startups in which you eventually...

 

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Direct download: FR006.mp3
Category:Podcast Episodes -- posted at: 8:41pm EDT

Howard Tullman joins Nick to cover key players in the Startup Ecosystem, including: Fund-of-Funds Placement Agents Fundraise Brokers Funding Platforms Accelerators Incubators Colocs / Co-working / Startup Hubs Media, Information & Event Outlets

Itunes: http://bit.ly/1nEPV5v

Direct-audio:  http://bit.ly/TjVnBo

SoundCloud:  http://bit.ly/1L7mR4R            

Guest links: Perspiration Principle Books 1871 Howard’s...

 

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Direct download: FR004.mp3
Category:Podcast Episodes -- posted at: 1:45pm EDT

David S. Rose joins Nick in the third episode of The Full Ratchet to cover: Accreditation.  What is it?  How to get it?  Is it necessary? What are opportunities for the non-accredited currently and in the near-future? What’s the difference between an Angel and a VC? Characteristics required to be...

 

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Direct download: FR003.mp3
Category:Podcast Episodes -- posted at: 1:43pm EDT

Chris Yeh joins Nick on The Full Ratchet to discuss Venture Capital…  Angels, Funds & Entrepreneurs including:   What is venture capital? Where does venture capital fit as an asset class? What is the standard time it takes to get a return? How is it similar to & different from...

 

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Direct download: FR002.mp3
Category:Podcast Episodes -- posted at: 1:41pm EDT

In the first episode of The Full Ratchet, Nick covers: Why he’s doing the podcast What will be covered on the show and What listeners can expect

Itunes:  http://bit.ly/1lwoSvj

Direct-Audio:  http://bit.ly/1iCjSGc   

 

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Direct download: FR001.mp3
Category:Podcast Episodes -- posted at: 3:13pm EDT

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