Best of the Best: We're definitely in a bubble (and that’s okay) - Alister Coleman | Folklore Ventures

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Dec 14, 2025

Alistair Coleman, managing partner at Folklore Ventures and former startup founder, dives into the world of early-stage investing. He explores how to identify standout founders and enduring products, sharing insights from his experiences with Ansarada and Auror. Alistair discusses the current AI bubble and why he still sees opportunities amid potential risks. He highlights Australia’s strengths in frontier tech and offers valuable advice on patience and the importance of embracing uncertainty when investing in innovative ventures.

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ADVICE

Only Back Coachable, Technical Founders

Prioritise coachable, technical founders who can build teams and adapt.
Avoid founders who "give you cancer" — you will be working together for years.

ANECDOTE

Ansarada: Sticky Customers, Strong Outcome

Folklore invested in Ansarada because founders argued with each other and customers kept returning.
The exit came via acquisition at a 2.5x premium versus public market pricing.

ANECDOTE

Aura: Network Effects In Retail Loss Prevention

Folklore backed Aura to tackle retail loss with network effects and low incremental cost.
Aura scaled from NZ to major retailers globally including Walmart and generated major returns.

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In this episode Alister Coleman, managing partner at Folklore Ventures, joins us to unpack how an early-stage VC identifies standout founders, world-class products and long-run opportunities (even when it’s just “two people and a laptop.”)

In this episode:

• What Ansarada taught Folklore about sticky products and misunderstood markets

• How Auror became one of NZ’s quiet breakout successes in retail loss prevention

• Why frontier tech like Hullbot and Kry10 show Australia’s edge

• The coming AI bubble… and why Alister is still leaning in

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