Office Hours with Kat Manalac of YCKat Manalac and Craig Cannon go through questions submitted on Hacker News. L.A. gets more capital as Fika Ventures raises $40 million debut fundInvestors are seemingly growing more excited about L.A. by the day. The newest sign comes via a $40 million fund that L.A.-based Fika Ventures is announcing today. That’s none too shabby for a venture firm that was founded just last year. Fika was created by TX Zhuo, formerly a managing partner at Karlin Ventures, and Eva Ho, a former general partner and co-founder of San Francisco-based Susa Ventures who decided not to participate in that firm’s second, $50 million seed-stage fund — a split that Ho characterizes as “highly amicable. I left because I wanted to focus more on L.A-based investments, as well as be part of a smaller partnership.” (Ho had three other partners at Susa.) [ Tech Crunch ] I Slept With 65 VCs and Learned These ThingsOur first suitor called us in the spring. They offered to pay for coffee. It was our first date. I had butterflies in my stomach. They promised they’d done this before and that I shouldn’t be nervous. I could tell they were experienced. Their smile was soothing. They looked me in the eyes. They wanted our pitch deck. “Do you use protection?” I asked. “No.” I knew it was dangerous doing it without protection. But it was so tempting. I was excited. I wanted to get in their portfolio. I couldn’t resist. So I took a deep breath and slipped the deck in. “Is it in yet?” I felt naked. I didn’t care. Maybe this was the one, I thought. Maybe they’ll actually call me back after this meeting. Maybe they’ll invest. [ Observer.com ] Venrock Running Through Walls - The Doctor is OnlineHill Ferguson joined Doctor on Demand as CEO in 2016. Venrock’s Bob Kocher talks to Ferguson about his first day on the job and hallmarks of a successful founder to CEO transition, including the delicate balance of fixing problems while preserving what’s already great with the company. Ferguson was on the employee side of this transition in previous roles, and learned the importance of creating an environment where all employees, regardless of position, feel comfortable asking questions. They also discuss Ferguson’s product expertise, and how he views all products as solutions to problems. What products inspire him? Those that help humanity and create economic value while improving people’s lives. Hint: not foie gras delivery. Ferguson also shares the nuances of recruiting doctors for telemedicine and what a good day looks like for Doctor on Demand’s physicians. [ Via Venrock ]Top Israeli VC Says Startup Nation Drives U.S. Economic GrowthJon Medved, the Israeli venture capitalist who backed Shopping.com and built investment platform OurCrowd, says tightening technology ties with the Trump administration and allowing Israeli companies to continue to open branches in the U.S. will benefit the economies of both countries. Medved said he hoped Israeli Prime Minister Benjamin Netanyahu would put technology on the agenda during his scheduled meeting Wednesday with U.S. President Donald Trump in Washington. [ Bloomberg ] Maniac Killers of the Bangalore IT DepartmentWhy is India obsessed with crimes committed by software engineers? Unicorn Investors: The Top 5 Firms With the Best RecordHere’s a look at five of the 10 investors who’ve backed the most early-stage mobile unicorns, along with the best resource for each to prep your startup for pitching. 1. SequoiaFounded in 1972, Sequoia Capital’s investments reportedly now total over $1.4 trillion. Its portfolio reads like a who’s who of the last three decades and includes heavy hitters like Apple, 3M, Oracle, Google and PayPal. Today, Sequoia primarily focuses on post-seed investments, but its early bets on mobile, social and collaborative technology have led them to become a leading investor over a host of industries and verticals. For tips on working with Sequoia (or any major league investor), grab their stripped down explanation of the kinds of business plans they look for. Early Mobile Unicorns: LinkedIn, WhatsApp, Dropbox, Ourpalm, Ele.Me, Klarna, Instacart and Thumbtack 2. ACCEL VenturesACCEL is based in Palo Alto, Calif. and is often the first check in the bank for its startups. The firm has been seeking out and investing in high-growth startups since 1983 and played an instrumental role in the development of Silicon Valley as well as the global tech scene. To read their thoughts on 2016 and a look ahead at 2017 – along with the thoughts of other industry leaders – check out ACCEL’s most recent State of the Unicorn Report. Early Mobile Unicorns: Facebook, FlipKart, Supercell, Blablacark, Slack and LinkedIn Related: More Than Money: How the Right Investor Can Add Lasting Value to Your Startup 3. BenchmarkBenchmark was founded in 1995, and since its inception has played an active role in finding and investing in promising startups. The firm’s $2.6 million investment in eBay two years after its founding was transformed into $5 billion by 1999. Since then, Benchmark has invested in more than 250 startups and is considered one of the top venture firms in California. Strangely enough, Benchmark’s website is a single page with just two physical addresses and a link to its Twitter profile. However, Forbes’ 2015 profile – The Benchmark Way: Five Partners Who Make Other VC Firms Look Outgunned And Overstaffed– offers a detailed look at the scrappy process that led Benchmark to deliver 1,000 percent gains to its backers over the last decade. Early Mobile Unicorns: Snapchat, New Relic, Uber, GrubHub, and Yelp 4. Bessemer Venture PartnersBVP is considered by many to be the great-grandfather of venture capital in tech. Established in 1911, they’ve invested in some of the most successful startups over the last decade. However, what makes Bessemer stand out isn’t their 117 IPOs track record, but their misses. In fact, one of the most interesting parts of the Bessemer story is their Anti-Portfolio, which is a list of companies they had an opportunity to invest in but overlooked. Early Mobile Unicorns: LinkedIn, Pinterest, Shopify and Yelp 4. SV AngelSV Angel is an investment firm that focuses on early-stage investments. It recently closed its latest (sixth) fund at $53 million. The firm started in 2008 and its portfolio consists of household names such as Pinterest, Airbnb and Dropbox. Opposed to other VCs on this list, SV Angel differentiates themselves by not taking board seats but instead prioritizing the diversity and breadth of investments. For a detailed look at the “breakup” between Ron Conway and David Lee – as well as the recent aftermath – take a look at Fortune’s piece from last year. Early Mobile Unicorns: Snapchat, Twitter, Zynga, and Instacart 5. Naval RavikantOne of the most respected angel investors in the world, Naval Ravikant has built an impressive reputation. As the CEO and co-founder of Angellist, Naval has helped investors and entrepreneurs alike establish relationships and unlock new opportunities. According to Mattermark, more than 50 of the companies in Navals portfolio are in the mobile space. His appearance on Tim Ferriss’s podcast – who called Naval “the person I call most for start up advice” – is required listening for all founders. Early Mobile Unicorns: Uber, Twitter, and Wish |