Matthew Tesfalul

Congratulations to the Antler Spring 2024 Cohort! 🎉 As a Spring 2023 alum with Layerpath, I relate to your intense journey. The IC decision, while significant, is just one step in a much larger adventure. Here are a few key takeaways and next steps for all of us early-stage founders: 1) Embrace the Journey: A founder's path is filled with ups and downs. Every decision from accelerators or VCs is part of your growth. Stay focused on your long-term vision. 2) Conviction and Resilience: Believe in your mission and be ready to embrace both successes and failures. Progress, no matter how small, is what truly matters. 3) Community Support: Let's support each other. If you're feeling down or need advice, please reach out. As someone who's been through this process and is 12 months ahead, I'm here to chat, make introductions, or share resources to help you navigate the next steps. Founders grow stronger together. Let's keep pushing forward and supporting one another! 🙌 Tagging some fantastic fellow Antler cohort members who have become friends for life! Soham, Adie, Hazim, Carin, Milad, Sharath, Dana, Sakib, Tord, Sahil, Fauzan, Fauzi, Satwant, Sujith, Rohan, Nijansh, Nikita, Emily, Pradyu, Vidushi, Devyani, Willem, Catherine, Dana, Dan! #Founders #StartupLife #Accelerators #FounderLife

16

1 Comment

A few weeks ago, I pitched Overture Games at the Rice Business Plan comp. Our team made it through 450 applicants to compete in the top 10% and I was thrilled! But we missed out on the million-dollar prizes and I felt like I lost. It took me a few days to realize the real value of the competition was not in the prize money. It was in the experience. Two things I took away from it all: 1. I learned how to pitch Overture to people who didn't care about music education. 2. I learned how to best present our brand and our story. Success is not determined by a cash prize. Success is driven by the hard work and knowledge that we gain through failures and setbacks.

87

10 Comments

Summary: Harlem Capital, a venture capital firm focused on backing diverse founders, is raising its largest fund to date of $150 million. This would be its third fund and is a testament to the industry's continued support for diverse communities. Key takeaways: Harlem Capital was founded in 2015 with the goal of supporting diverse founders. The firm has $174 million in assets under management and has made investments in over 80 companies. The successful raising of the $150 million fund would be a show of success for both Harlem Capital and the industry's continued focus on diversity and inclusion. #venturecapital #vc #venture #diversity #dei

12

1 Comment

I’m excited to speak at the Beyond Silicon Valley Summit hosted by Revolution's Rise of the Rest this week. So many things are actually happening far beyond Silicon Valley, especially when it comes to tech jobs leaving California… and heading straight for Texas. Even though Silicon Valley is home to most US startups, their share of total VC investments in the US last year was at its lowest since 2012. In venture, we know jobs follow the money. The tech workforce is increasingly mobile and decentralized, and the talent pool is no longer concentrated in Silicon Valley. The share of all US tech jobs located in California has fallen to some of the lowest levels in a decade, dropping a full percentage point over the last year alone. Large tech companies are departing to states that offer less strict regulation, lower cost of living, and better tax incentives. Enter Texas, Arizona, and Florida, welcoming startups with open arms. You can read more about how the landscape is looking beyond Silicon Valley here: https://lnkd.in/ebhW-JNP Plus, the data from Apollo Global Management, Inc. that originally inspired this post, below.

50

4 Comments

Creating a Thriving Startup Community: Lessons from building Startup Grind Frisco (Here’s how we’re fostering innovation in the city of Frisco, Texas) 1. Focus on Collaboration Over Competition In Frisco, startups thrive when they collaborate rather than compete. Sharing resources, insights, and support elevates the entire community. Remember, a rising tide lifts all boats. 2. Cultivate a Culture of Mentorship One of Startup Grind's pillars is mentorship. Experienced entrepreneurs guiding newcomers accelerates growth and builds a supportive network. This culture of giving back is crucial for sustainable development. 3. Foster Diversity and Inclusion Diverse perspectives are invaluable for innovation. Ensuring people from different backgrounds feel welcome and valued leads to richer ideas and solutions. At Startup Grind Frisco, we've prioritized diversity, resulting in a vibrant mix of startups. 4. Leverage Local Strengths Every city has unique strengths. Frisco's strategic location and robust infrastructure have been significant assets. Identifying and leveraging these local advantages gives startups a competitive edge. 5. Build Strong Relationships with Local Government and Institutions Support from local government and institutions provides startups with essential resources and opportunities. In Frisco, our partnerships with entities like Frisco EDC (Frisco Economic Development Corporation) and Comerica Bank (Comerica Bank) and many partners have been instrumental in driving growth. 6. Host Engaging Events Events hosted by Startup Grind Frisco create opportunities for learning, networking, and showcasing talent. They are the lifeblood of a thriving startup community, providing platforms for entrepreneurs to connect and grow. 7. Continuous Learning and Adaptation The startup world is ever evolving. Encouraging continuous learning and adaptability has been a cornerstone of our approach. We embrace new technologies, methodologies, and ideas to stay ahead of the curve. 8. Celebrate Successes and Learn from Failures Recognizing achievements and analyzing failures without fear of judgment fosters a growth mindset. Celebrating success stories inspires others, while transparent discussions about failures provide invaluable lessons. 9. Build a Strong Member Base We’ve built a strong and vibrant community of over 1,000 members who actively participate, share knowledge, and support each other. This strong network is the backbone of our success, driving momentum and creating a sense of belonging for all involved. I had the privilege of establishing the Startup Grind Frisco chapter, combining my passion for startups with my commitment to building an innovative, supportive community. Building a thriving startup community comes with challenges and successes. By focusing on collaboration, mentoring, diversity, and leveraging Frisco's strengths, we've created a dynamic ecosystem. These principles will guide our continued growth.

2

2 Comments

So much of VC recruiting is just about being seen. Let’s get aspiring VCs noticed 🌟 Along with posting open VC roles every Wednesday, I like to have posts where aspiring VCs make themselves known to VCs looking to hire. I’ve done this a handful of times and IT WORKS! Many aspiring VCs have been contacted by firms just from commenting their info. Lets do it again! Leave a comment: 👤 Name 📍 Location 💼 Desired role 📊 Stage focus 🔍 Industry focus #venturecapital #startup #recruiting #hiring

248

165 Comments

Advice for raising your first VC fund from Nichole Wischoff, who grew up on food stamps in Arkansas and closed her $20 million Fund 2 in 2022. 1) Get in the mix. Get in the culture. Start building your network. Show up to events, meet people, ask questions, and start helping them. 2) Share. When you meet an interesting founder, connect them with people who can help. Connect them to investors you want to get to know better to build the strength of your own network. 3) When raising a fund, LP relationships are sacred. Build trust with your network over time through steps 1 and 2 above before raising a fund. "Get as close to the nucleus of what’s going on as you can” Nichole is one of the most interesting people I’ve met in the past few years. She grew up on food stamps in Arkansas and recently raised a $20 million Fund 2 for Wischoff Ventures. Listen to her full story + all her actionable advice for others in the comments 👇

155

16 Comments

Soccer and Early-Stage Startups My youngest nephew was in Austin this week for a showcase soccer tournament. He is a junior in high school and is riding the roller coaster of recruiting to D1 soccer programs. He knows what he wants - mostly a coaching staff, team and culture that is positive but will challenge him to improve every day; a university were he can learn/grow; and, a tuition and scholarship package that won't put him drowning in student debt for the next 20 years. The highs on this roller coaster are REALLY high and the lows are REALLY low - and they happen within seconds with a final decision not revealing itself for months. The worst part about this is the coaches that seem incredibly interested and then ghost. Then come back and act like they were there all along. I keep thinking about how similar this is to fundraising...or the entrepreneurial journey overall. I have three portfolio companies right now going through life or death scenarios...fighting for every chance. Two of the companies are partnering with large enterprises and working for multi-million dollar expansions - ones that can make or break the company. One is fundraising and running out of cash, trying to extend runway in every way possible, getting good traction but has still not cracked the code on a fully scalable model. All three are experiencing every aspect of this roller coaster - including the incredibly frustrating experience of ghosting (from customers and investors). It takes real grit to face the roller coaster every day and keep saying "I am willing to work harder and do more than anyone else to succeed". To appreciate but not take for granted the highs and to find the positives and learning in each one of the lows. Especially in today's environment, this is the attitude that it takes to win. This is the attitude that it takes to solve that problem, realize your vision and get to the next level--in soccer, in tech, in life.

35

5 Comments

Many founders are being misled despite their hard work. They're often encouraged to emulate the category leaders in their space, like Slack or Outreach. I understand the inclination—learning from the best seems logical. However, these companies are well-established with significant marketing budgets, a luxury most startups don't have. For early-stage startups, one fundamental truth stands out: Customers above all else. → Find your audience and communicate clearly. → Deeply understand their problems. → Build credibility instead of relying on buzzwords. Focus on selling what your product can realistically achieve now, rather than bold visions that might seem too good to be true. Here’s the 5 things founders should prioritize in the first 30 days of their start-up: 1. Updating their LinkedIn job status 2. Creating a company website and logo 3. Incorporating an entity 4. Messaging VCs 5. None of the above; instead, talk to customers Focus on your customers, not on what the category leaders are doing.

21

13 Comments

Big Tech's urban hero Here's why Silicon Valley is betting on a Goldman prodigy to build a glorious city of the future. On one side of the gravel road, a prairie's worth of grass stretches toward distant wind turbines. On the other side, scattered eucalyptus trees dot the otherwise empty fields. All this nothing lies an hour north of San Francisco, far from the nearest subdivisions and schools and strip malls. It's a specifically Californian kind of empty. But in Jan Sramek's eyes, it's full. Where others see only blue sky and dusty farmland, Sramek, a former Goldman Sachs trader, sees row houses and apartments. Art galleries and sushi bars. Bike paths and parks. A vibrant, bustling, energy-efficient community with all the charm of a 19th-century village — and all the fiber-optic internet and self-driving cars of a 21st-century megalopolis. Sramek sees the city of the future. He sees California Forever. https://lnkd.in/dqAdaJhU By Hugh Langley and Adam Rogers

7

2 Comments

When visionary and technical founders, like Ariyan Kabir, Brual Shah, and Satyandra K. (SK) Gupta, focus on solving customer problems with scientific breakthroughs in computer vision and robotics, industries are transformed. GrayMatter Robotics is helping some of the world's largest manufacturers deal with labor shortages by augmenting the workforce with physics-based AI automation for surface finishing -- a $2.5 trillion opportunity. We at Calibrate Ventures love seeing their hard work, proven value proposition and customer ROI, and attractive unit economics attract capital to scale the business to meet customer demand. And we're grateful to have been the largest and lead seed investor in the company. GrayMatter announced its $45 million Series B today, fueling its growth. Wellington Management led the round with participation from NGP Capital, Advance Venture Partners, SQN Venture Partners, 3M, B Capital , Bow Capital, OCA Ventures, and Swift Ventures. Read more in Brian Heater's excellent piece in TechCrunch today. https://lnkd.in/gsJGFr-b #AI, #robotics, #automation

63

2 Comments

Are you a founder looking for pre-seed funding?! Applications for the next Antler cohort are officially OPEN - residency starts on October 1st in Austin, Boulder, and NYC. In the next cohort, our ATX team will deploy over $6M. We invest up to $500k per company, with a $2.5k relocation grant to build with us in Austin. 🛠 Already building? Apply [link below] or comment and I'll coordinate an intro call 💡 Know someone with an idea? Tag them below. 🤔 Curious to know more? Join our weekly AMA [link below] or follow me for more Antler updates.

45

3 Comments

If I was to do a monthly podcast epiosde segment called This Month in VC 1) Who should I invite as a guest for this segment? 2) Any VC's who would be down to come on and share their stories + insights on this? Basically recapping what happened in that month in VC - It would be an under 30 minute discussion - Recorded remotely using Zoom, Riverside DM me or reply to this if interested Inspired by Harry Stebbings This Week in SaaS to try out a different format

1

Alex Lieberman just shared a cool side project: YourStack. He shared storyarb's & Morning Brew's tech stack + got Noah Kagan to share his too. (more founders to come) As it scales, I thought that a few simple features could be useful, like: ↳ seamlessly see which softwares/services are most commonly used ↳ all founders' reviews of a given tool aggregated in one place ↳ how many founders use a given tool While still keeping it simple, of course. Made them in Notion + Super already. WDYT? Is this overcomplicating it, or would it be useful? ( hoping this reaches Alex :) )

13

1 Comment

I designed Peak OS for venture-backed companies after working with hundreds of them over the past 20 years. VC-backed teams are different, period. They need an operating system designed specifically for them. You can read about why (and get a step by step instruction manual to get started with Peak OS) in my bestselling book, Peak Teams. Check it out on Amazon and Audible. #venturebacked #vcbacked #venturecapital #leadership #ceo #founder #operatingsystem #peakOS

15

💯 If your team is drowning in support tickets and customer "rough edges" you should probably sit back and evaluate if you have a viable product. At the very least, you should evaluate if your product team is correctly focused on the needs of your customers when this pattern emerges. "Jessica pointed out that if our solution was to hire someone to deal with customer issues, then next week when we grew more we’d have to hire another person, then another, and so on. Her point was that the real solution isn’t solving tickets, it’s listening to customers and building a better product so customers never need to write in the first place." "In a sense, every customer support ticket is a privilege – someone took time out of their day to write about how to improve your product. But it’s also a failure – you could’ve saved them that time by making the product better and more intuitive in the first place. You can’t out-hire a bad product, or compensate for poor taste with a big support team." Customer feedback is a gift. Don't squander it or pawn the problem off on a man-power to solve it. A pile-up here is *always* a sign that your product direction needs improvement.

7

1 Comment

I recently sat down with Michael Batko, CEO at Startmate and Founder of Puddle Pod for Episode 11 of Insane Ambition. Startmate has invested in 230+ startups, much of it under Michael's leadership, and now has $3.5b in value across its portfolio companies. In this episode, we discussed: - Michael's journey from consulting, then living in the Amazon rainforest, to leading Australia's biggest startup accelerator - The future of Australia's startup ecosystem - The labour government's very stupid plan to make it harder for people to qualify as sophisticated investors (now thankfully shelved) - Startmate City! Startmate's plan to build Australia's first startup city. Probably the most ambitious idea I've ever heard from a startup accelerator. - The balance between visionary thinking and traditional startup advice (think Elon Musk's plan to colonise Mars, vs Y Combinator's problem/customer obsession) - "The Courage to Be Disliked", and its influence on Michael's approach to life and business. Links in the description below 👇

61

4 Comments