The Orthogonal Bet Molly Mielke on What Makes a Founder Worth Betting On
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Oct 1, 2025 Molly Mielke, an early-stage investor and founder of Moth Fund, has an impressive background with stints at Figma, Notion, and Stripe. She dives into her journey from tech intern to venture capitalist, emphasizing the importance of person-centered investment over sector focus. Molly discusses how early-stage bets reveal unique potential and the significance of supporting creative builders through grants. She also reflects on the tech culture in San Francisco, the risks of monoculture, and the importance of genuine values in startups.
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A Scout Bet That Failed From Low Commerciality
- Molly recounts a Sequoia scout bet in which excellent builders lacked commercial ambition and the company folded.
- That failure taught her to prioritize founders who want to capture value, not only build beautiful products.
Grants To Support Non-Commercial Builders
- Molly explains her grants program gives small, no-strings support to promising people who may not fit VC models.
- She targets young creators with modest sums to help them take projects seriously and possibly later found companies.
Grants Signal Mission To LPs
- Molly treats small grants as both ecosystem support and a marketing signal that aligns with her long-term bets.
- Her LPs accepted grants because they reflect the fund's mission and are modest in cost.