Cindy Bi ㊙️
@CindyBiSV
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14🦄s @CapitalX_ Pitch Mom via surrogacy of twiblings (or more) ❤️🩹💖
San Francisco
Joined March 2011
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Got my biggest LP commitment today from an epic firm 🙏🏼🙆🏻♀️
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Just made a $250K pre-seed investment (with early traction and great velocity) on the spot after talking to the founder.
Call me crazy but I’ve done enough research in advance, and had multiple email interactions with the founder too.
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CapitalX Is Live via AngelList Rolling Fund!
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Went to a halloween party with many founders and VCs, randomly chatted.
One AI founder said they raised almost $20m seed at ~$100m cap, SAFE, no lead investor, 2 billionaires on the cap table (anonymous, so the names were not disclosed to me) etc.
This feels like 2021.
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A genius 26-year old veteran startup founder,
leading the way via 506(c) to do public fundraising as a new-gen GP
to provide enhanced access to a more diversified LP base ⚡️
Don’t be jealous, join the new game 🚀
Dunking on new VCs who are broadening the LP base to be more diverse and making the asset class way more accessible 👌🏾
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I invested nearly $500k personal capital in 10 startups, 7 vc funds and 2 (partial) pro-rata, since mid 2019😲
Grateful to have so many awesome LPs to support CapitalX to write bigger checks ($100k - $500k) in about 20 startups a year!
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My 11th unicorn from seed investments (can't say the name yet)! 🦄🦄🦄🦄🦄🦄🦄🦄🦄🦄🦄
Thesis?
Invest in outstanding outsiders while paying attention to insiders...
Most of the unicorns I backed were founded by outsiders!
To subscribe to my fund visit
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Get your startups funded, fast!
Thanks
@Julian
for spearheading - what a group of investors to be on your cap table (by individual decisions)!
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I'll write my 2nd $500K check,
this time, I'll co-lead.
Humble start 💌
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#proudinvestor
in 15 top YC startups by 2021 valuation
#4
@Cruise
#8
@zapier
#27
@Rippling
#32
@boomaero
#36
@retool
#46
@ShipBob
#51
@SendBird
#61
@ppl_ai
#69
@algolia
#79
@proxy
#82
@OnUpKeep
#93
@LambdaSchool
#108
@go1com
#109
@cloudarmory
#115
@theflutterwave
The 2021 YC Top Companies List is live! Congratulations to all the great companies that made the list this year.
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I’m hosting a small private sushi chef GP-LP dinner at home in SF, but most of the LPs on my list are male🤑
Would love to invite 2-3 female LPs who actively invest in $15M-$50M funds 😍😍😍
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@shl
More people should start companies that don’t need lots of vc money - take some seed money from us, have low burn rate with remote hiring, and be done with growth and profit 😬
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It’s crazy to see myself raise more $$$ within a week via
@AngelList
rolling fund than the total amount I deployed within a year in the past 🤯
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I’ve made 14 *personal* angel investments in less than a year.
It’s been quite a ride with so many awakening or shocking moments.
But hey, 2020 still has 5 months to go,
So, keep on ⚡️
Today is an awesome day!
So so proud of
@Gilberto_M_L
my 1st angel check 💪🏼
I’ve worked closely with Gilberto in the last 2 months (since HAX demo day and out of about 10 startups I chose
@Smartex_AI
this ONLY ONE to work with, first email 6/20/2019).
This is the new Cindy 🔥
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I see some startups with <6mo runway still hiring - bold move.
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My 8th unicorn from seeds!!!
Congrats
@ShipBob
and team.
🦄🦄🦄🦄🦄🦄🦄🦄
ShipBob nabs $200M at a $1B+ valuation to help e-commerce companies run logistics like Amazon's by
@ingridlunden
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I deployed almost $4mm within 10 days into competitive rounds of later stage startups.
Feeling so grateful for founders' and LPs' support🙏
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Founders are not babies,
They can take the adult conversations and tough feedback,
Right?
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What is CapitalX?
It's a solo capitalist with all the good traits of a super angel.
But instead of $25k/$50k,
you can now expect $100k/$250k for the initial check.
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It's exciting to see a portco growing over $300M ARR as it just turned 3 years old!
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So awesome to see
@bhorowitz
IRL at his book signing party in SF 🎉
It’s amazing that he recognized
@CindyBiSV
twitter handle 🤓(that’s my boyfriend’s laughter in the video😜
And
@FeliciaHorowitz
is so beautiful and stylish (don’t have photos yet) 😻
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VC vs. Angel Investor
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#proudLP
in
@andreasklinger
and
@shl
’s funds!
I’m just older with some luck strikes so I still have a lot to prove and give 🤩
Upward and onward for our next 2+ decades as investors!
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Confirmed my 1st angel investment in 2020💃
And you guessed right - didn't meet the founders IRL.
A few emails with a Zoom call were convincing enough.
Thanks to the investor friend (never met IRL either) who referred it to me🚀
It's super oversubscribed - no DM inquiries😳
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Founders with hot rounds - pls make room for emerging GPs ✊🏼
They work harder than many with a proven track record and can identify winners too🚀
Without breakout winners within 2 yrs, they can’t raise fund II💪🏼
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“The ability to not stay in the (negative) emotions for too long. You bounce back.
Mental strength is not a gift, you work on it.”
Incredible clip of Novak Djokovic on the mental aspect of his tennis game (reading other player, dealing with self-doubt and breathing to calm his mind).
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CapitalX - $2M raised within 2 weeks ⚡️
Mostly from inbound high-conviction fast commits💪
(with super LPs' high-quality referrals)🥁
Power of high trust, public accountability, and "skin in the game" (to reinvest 80% management fees) 🌱
Track record helps 🙏
I've raised more than $1m within a week, so can I accelerate this $1m/week pace by end of August?
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$2mm deployed in 16 startups in 2021 Q2✊🏼
NOT counting the 6 SPVs from $100k to $2m+ each 🔥
Excited for 2021 Q3 and many thanks for
@CapitalXCompany
LPs and team support!🥰😇♥️🎉
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I’ll be doing more pre-seeds!
Pumped to welcome Cindy Bi (
@CindyBiSV
) to Afore's Common App for Pre-Seed!
Cindy previously was an Executive and Founding Partner at A/Z, Consultant at
@Accenture
and GeoFields, and Co-Founder at Hunting Camera Online.
She’s currently a General Partner at
@CapitalX_
⭐️
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The early stage valuations are still a myth.
I've seen startups valued at $15m with revenue and founded by repeat founder (exit by IPO).
I've also seen startups with prototype, no customers, not repeat founders, raised at $20m.
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I’ve personally invested in 15 funds now - officially cash poor y’all! 🙏🏼
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1 portco got Series A term sheet,
1 portco surpassed $1M ARR!
1 portco is getting close to $10M annual revenue!
Good morning :)
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No, I don't usually do 1-1 calls unless there's a strong "fit".
Before I talk to any new contact, I do online data research to prepare and save you time. So a 15-min call is equivalent of 1+ hour for me.
Async communication with a group may work wonders.
#scaleable
#efficiency
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Talked to a YC founder today - he was making about $1m/yr running his own business before starting the current vc-backed startup where he’s paid less than $100k/yr.
Gotta make equity worth the pay cut 🤓
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Just made a $250K investment, on the spot (I did quite some research before hand), after a one-hour zoom meeting with a founder.
Yes it's in AI/ML 😅
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Almost $20m deployed within a year with fund and SPVs...
Crazy CapitalX Team!⚡️🙏🤩
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I've backed 7 emerging funds
@andreasklinger
@jmj
@HarryStebbings
@lucy_guo
/
@davefontenot
@shl
@Austen
@KyleTibbitts
Some of them are already on a much bigger fund II!
I've backed several exciting Rolling Funds. My target allocation for VC investments is ~20%.
Some funds are by folk I’ve known for years and others I’ve never met. That's the magic of the internet 🌟
Here are four I've backed:
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How to gain industry “recognition” as an emerging VC?
Wrong answers only😬
I’ll start: the bigger funds you raise, the more successful you look.
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ok, 14 unicorns now 😅
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My best investments come from when I was super impressed.
My worst investments come from when I was utterly charmed.
Such a fine line.
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7.4% of YC W24 startups have solo founders.
18 out of 243.
Seems high!
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@zebulgar
Wow looks like I don’t need to watch HBO Silicon Valley, Twitter has more raw content than that 👀
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Fundraising psychology 💡
Oversubscribed - oh I want in!
Allocation available - ha thanks.
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This guy runs a rolling fund with 0% management fee,
and now starts a free newsletter after stopping his previous one with $50k/month revenue😎
My goal is to teach 70m people (1% of the global population) over the next 10 years.
This was super profitable, but all my content was behind a paywall, reaching only ~350 people.
I'd rather make free content & reach more people. Join the email list 👉
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$500,000 a quarter, new LP 🤩🤩🤩
Inbound, direct, no chat.
Friend on the internet —> LP, is real 👼🏻
"Friend on the internet" -> new LP,
direct, inbound, no chat, signed up.
I'll be trying something new for the Rolling Funds, starting Q1 2024, stay tuned! 😍
Last new LP was 3 weeks ago: direct, inbound, no chat.
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One of my 2019 investments just raised a Series A, and I'm like, all sorts of feelings🤗
It's a great reminder why we do what we do - I'm proud of your journey and I know how hard it has been!
@ProudMomofaCEO
what ya say?
We got this!
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@HustleFundVC
1. CapitalX
2. $100k-$500k, generalist
3. Pre-seed to seed, sometimes A/B
4. DM open
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I've raised more than $1m within a week, so can I accelerate this $1m/week pace by end of August?
It’s crazy to see myself raise more $$$ within a week via
@AngelList
rolling fund than the total amount I deployed within a year in the past 🤯
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Just realized I started doing uncapped seed investments (very few though) since 2015.
One is now valued at $11B+, the other $2B.
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We had about 30 guests but took photos too late
@CapitalX_
@flagstar
@SapphireVC
@IndustryVC
@BainCapital
DST Global
500Global
@AbstractVC
@Revere_VC
Family Offices
Many GPs, mostly emerging 😍
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Another day, another new LP 😇
+$260,000 in Q1 2024 📔
Founders, are you ready? 🦹🦸♂️🦹♂️🦸
Inbound, direct, no chat.
$500,000 a quarter, new LP 🤩🤩🤩
Inbound, direct, no chat.
Friend on the internet —> LP, is real 👼🏻
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Hello, CapitalX!
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We’ll be hosting more coffee chat at our “home office” on the weekends 😇
Let’s not talk about startups but share our life stories, heart to heart, soul to soul, gee we are so resilient, despite ❤️
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Moved into our SF place today!
Sleeping on the air mattress for a bit 😂
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I was nominated along with so many amazing investor friends! 🤩
Thank you
@businessinsider
! Grateful to be included on this top 100 rising star in VC list with my fellow rising star GPs
@SamaraMHernandz
,
@Vincent11D
and at
@alpacavc
(
@BrianBrackeen
,
@CandiceBrackeen
,
@acharoo
) any may others
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#proudinvestor
$1.1M ARR in 7 months, >90% Gross Margin!🧧
One sales lead sold >$800K in ARR within his first 3 months, validating the repeatable sales motion🏃♀️
Pivoted in May 🚼 2 mo's after I invested,
intro by his brother who's also in my portfolio 🫂
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I don't reply all investor updates, but recently I tend to reply more to discuss their cash position and planned runway.
One startup has 6 months left and marked themselves as default dead - come on can you be more like a warrior?!
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“Working intensely feels joyful and nearly effortless once you find the right thing.
The purpose of a career is to find the skills you want to compound and never stop doing them.”
What skills are compounding in your career?
Physics teaches us that sharp objects move faster.
The fastest trains have a pointy front car; the Concorde airplane needed an incredibly sharp tip to become the fastest commercial jetliner ever; narrowing your surface area is the
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Thanks for showing the way.,
@shl
! ⚡️
I got inspired by Sahil's fundraising notes on his success getting into startup deals, so I share some fun facts with my stories including burger dinner, matchmaking, "don't get me fired", lightening-fast wire, etc😉
I’m raising a small fund to invest in early stage startups! If you’re interested in investing–as an LP, aspiring fund manager, founder, or anything else–I’ll be doing a Zoom call about it on Friday at 10AM PST. Register here:
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YAY we did twibling embryo transfer (female 5BA) with the most amazing
@_EggWhisperer
and our wonderful surrogate🥰
We already have a name: Mira 😉which means peace, ocean, woman ruler and admirable.
Dr Aimee has always been super responsive and open-minded to listen and help
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Another $500,000 LP in one quarter 😍
"Expect big returns" he says 🤩
Discovered me on social media, inbound, no chat⚡️
You money will work very hard in the best founders' hands!
WOW this is beyond amazing!
$30,910.06 x 10 Quarters! ⚡️
A very well respected FoF just signed up! 🤩
It's a pleasant surprise to see their name on
@AngelList
dashboard today - we chatted a while back regarding other matters!
(I'll launch a traditional 506c fund in Q1 2024)
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CapitalX is open to new LPs soon💃🏻
DM open if you are interested - I’ll reply next week in a batch ♥️
Thanks for all your support and trust so let’s fund more breakout startups with top founders together 🚀
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Just backed 2 female co-founders, gee, how can their background be so impressive!
Very fast execution too, including how we close the deal through emails only.
(We'll have a zoom call on Sat.)
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I’m 40 and I can’t back down.
State your age and something you can't do
I'm 36 and I can't swim 🤷♂️
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Signed another SAFE today for angel investment.
Money going out tomorrow 💪🏼
(I’m as scared as y’all, but gotta do what we do best - keep on fighting.)
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Finally it's my turn to ask y'all for a PH upvote 🤩
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Wow I just got a new LP subscribed to my fund ($50k x 4) from inbound application without a pitch.
hanks for your high trust - it's prudent to continue investing!
Happy Thanksgiving!
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Committed to a new investment today from a cold twitter inbound DM (it's oversubscribed).
Happy Thanksgiving!
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Update: $7m initial capital is worth $100m+ with 6 unicorns all from seeds.
Congratulate my single LP who gets 98% of the upside.
A few clarifications
1⃣$7m initial capital is now worth about $50m without active management -> this is not audited.
2⃣I listed select previous investments with "valuation multiples before dilution" because this is based on *public* knowledge without considering pro rata.
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What an honor to be listed among 29 other
#superstars
, or, SuperForcasters 🤩
nominated by venture firm TRAC using their
#proprietary
model called "
#moneyball
for VC"!
I'm so grateful that many
#superstar
founders let me join their journey!
>Most are in
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Warren Buffet has accumulated 99.8% of his wealth after age 50🤯
I heard it on a podcast and googled to find
@GrantCardone
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One of my portfolio startups is at $1.5M ARR and profitable,
yet they are still not doing a Series A :)
Sounds like
@zapier
in some way?
Different sector though!
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“About 8.2 percent of Silicon Valley-based tech founders, or 1,240 startups, intend to move their companies to another city in the next 12 months...”
And Austin looks to be a top choice among many.
Why More Entrepreneurs Are Moving Away From Major U.S. Startup Hubs
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It sucks when you've provided value-add and still couldn't get in the round.
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Is ~200 applicants for 1 early-stage startup job position normal?
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50000 impressions in 7 days for a newbie on
@LinkedIn
, what does it mean?
Any ROI to expect other than natural love of double posting there? 😅
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One of the most abused signals is the shiny personal names from big shots on the cap table.
I personally invested $50k in late 2019 into such a co, with an unspoken goal to "buy" into founder's investor network 🤡
Total write-off without any updates. He later raised a VC fund
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@bencasnocha
This reminds me of one of my 2 big misses in my early investment phase (2012)
@GustoHQ
😢
(Founder was double booked for his meetings and was late so I left but never returned email for a 2nd meeting - 💵 💵 💵 lesson!)
Founders were clear to build multi-billion business 💪🏼)
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Any founders or VCs wanna come over this weekend for jetskiiing and paddle boarding?
Two more guest bedrooms to host you for free 😻
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Inaction or lack of evil deeds isn’t equivalent of kindness.
Kindness from a position of power with capability to be evil otherwise, carries real weight.
Kind is a verb.
"No one deserves to be praised for kindness if he does not have the strength to be bad."
—La Rochefoucauld (Collected Maxims)
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I haven’t gone clubbing or dance classes for 15 months!
OMg I need to practice before my tag-along trip to Miami next week 😆
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I think I offended a founder by asking for their pitchdeck/notion/loom (if any) before scheduling a zoom chat.
I mentioned I wanted to do enough research before hand to respect his time, though.
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I've invested in 15 micro VC funds and it's quite obvious some GPs are building an institution.
Others rarely send me an update 😅
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CapitalX is investing heavily in preseed and seed so pls tell us about your startups here💪🏼
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Just watched a fireside chat vid from Dec 2019 when I shared my angel investor journey, hits and misses, lessons, insight and future plans, omg I had so much “fire in the belly”⚡️
The past 7 months has been so very tough for me, but I’m so excited to finally do “something new”!
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Wow
@femstreet
you really pay attention🙏
Highly appreciate your shout-out in your
#fresh
newsletter 30 minutes ago🥰
Much gratitude and thanks for your support!
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Super
#proudinvestor
in 11+1 YC co’s among their top startups ever 🤩✊🏼
Thanks for taking me on your journey my founder friends💪🏼🙏🏼
@cruise
@boomaero
@zapier
@algolia
@proxy
@SendBird
@ppl_ai
@ripplingapp
(SPV)
@LambdaSchool
@theflutterwave
@shopbop
(And
@gitlab
via LP Liquid2)
The new 2019 Y Combinator Top Companies List. Congrats to all the great companies who made the list this year. Also shout out to the YC Growth Program.
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Looks like another side of the world is waking up to 🤩
More to come tmrw ⚡️
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