Open the Pod Bay Doors E01 Daniel Petre - Airtree Ventures
Jun 8, 2017
Daniel Petre, founder of Airtree Ventures and former Microsoft executive, shares his insights on the tech landscape. He discusses the evolving nature of algorithms, stressing the importance of contextual data over mere commoditized tech. Daniel reflects on his journey from corporate leadership to venture capital, spotlighting the impact of AI on jobs and society. He also touches on the critical role of fatherhood and shares his thoughts on navigating innovation in Australia’s corporate ecosystem, emphasizing the need for diversity and collaboration.
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Airtree's Early Fundraising Decisions
- Airtree raised $60M initially but later returned capital because they thought $80M was too much and would be wasted.
- Two years later they raised $125M despite having no realized exits yet due to strong growth signals across portfolio companies.
Super Funds' Cautious Return To VC
- Super funds had previously been burned by venture in Australia and re-enter cautiously; a few now back local VCs but must prove returns.
- Institutional participation can scale the ecosystem only if those funds see strong track records and realized exits.
Share Carry To Attract Returning Talent
- Structure partner incentives so carry is shared widely to attract and retain top VC talent returning from overseas.
- Offer meaningful long-term roles rather than concentrating rewards in two founders to build a durable firm culture.
