The VC Architects (Ep. 2): Sandy Kory (Horizon VC)

The VC Architects

From his daring investment in Palantir during the 2009 financial crisis to the challenges of managing larger seed rounds in today's market, Sandy shares invaluable insights that every aspiring investor should hear. Stay tuned for some rapid-fire questions revealing a surprise interaction with Elon Musk, and discover why trust is the cornerstone of fundraising. Don't miss this riveting conversation!

1. Introduction and Overview [00:00:00]: Introduction of Sandy Kory and his background in VC. Overview of the podcast episode.
2. Sponsor Mention and Dive into Conversation [00:01:00]: Mention of the episode's sponsor and beginning of the main conversation.
3. Sandy's Angel Investment in Palantir [00:02:00]: Sandy's experience investing in Palantir during the 2009 financial crisis.
4. Discussion on Angel Investing and Financial Risks [00:04:00]: Reflections on angel investing and approach to financial risks.
5. Sandy's Financial Confidence and Investment Strategy [00:05:00]: Sandy's investment rationale and financial confidence.
6. Sandy's Approach to Angel Investing [00:06:00]: Emphasis on having 'skin in the game' and identifying investment opportunities.
7. Journey into Venture Capital and Dual Roles [00:09:00]: Sandy's transition into full-time venture capitalism.
8. Transition to Full-time Venture Capitalist [00:10:00]: Establishment of Horizon VC and full focus on venture capitalism.
9. Decision to Manage Other People's Money [00:11:00]: Shifting from personal investments to managing a fund.
10. Fundraising and Incentive Structures [00:12:00]: Strategy behind fundraising for Horizon VC and alignment with investors.
11. Raising the Fund and Building Relationships [00:14:00]: Process of raising the fund and dynamics of securing commitments.
12. First External Commitment to the Fund [00:15:00]: Sandy's confidence in receiving commitments from his network.
13. Importance of Trust in Fundraising [00:16:00]: The significance of trust in the fundraising process.
14. No Cold Outbounds and Fundraising Dynamics [00:17:00]: Relying on established relationships and trust in fundraising.
15. Fund's Growth and Progress [00:19:00]: Growth of Horizon VC's fund to $44 million by 2022.
16. Investment Thesis and Strategy [00:20:00]: Focus on software startups and the Product-Led-Growth model.
17. Pitching to Investors [00:21:00]: Value proposition offered to potential investors.
18. Focus on Value Creation [00:22:00]: Importance of startups focusing on value creation.
19. Current Market Dynamics for Pre-Seed and Seed Deals [00:24:00]: Current competition in the pre-seed and seed investment landscape.
20. Challenges with Bigger Seed Rounds [00:25:00]: Implications of larger seed rounds at higher valuations.
21. Current Venture Landscape and Future Planning [00:26:00]: The crowded seed investment market and its implications.
22. Planning for Horizon VC's Fund Two [00:28:00]: Potential of launching a second fund.
23. Team Expansion and Firm Building [00:29:00]: Considerations around expanding the Horizon VC team.
24. Considerations for Firm Building [00:30:00]: Potential expansion of Horizon VC.
25. Transition from Angel Investing to Managing LP Money [00:31:00]: The dynamics of managing LP investments.
26. Rapid Fire Questions: Personal Insights [00:32:00]: Getting to know Sandy better.
27. Concluding Remarks and Gratitude [00:34:00]: Sandy's gratitude towards his parents and concluding the episode.

You can find Sandy Kory on Twitter at https://twitter.com/sandykory and learn more about Horizon VC at https://horizon.vc.

Learn more about Flowlie and how the platform can help you screen deals faster and discover the right connections from your network at https://www.flowlie.com.

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