The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch

20VC: Why Growth Investors Ruined the Venture Market, Why Marketing in Venture Has No Substance, Why Follow-On Investing Can Damage Returns and The Mistakes VCs Made in the Last 18 Months with Ophelia Brown, Founder @ Blossom Capital

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Mar 17, 2023

Ophelia Brown, founder of Blossom Capital and a former GP at LocalGlobe, dives into the complexities of venture capital. She shares her unique journey from a DJ and restaurant owner to a leading VC. Ophelia critiques the prevailing growth investor mentality, arguing it has detrimentally influenced the market. She discusses the lack of substance in venture marketing and how follow-on investments can hurt returns. With insights on relationship building and strategic investing, she empowers founders to discern authenticity in the investment landscape.

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ANECDOTE

Memorable LP Meeting

In a meeting with the French equivalent of Bpifrance, Ophelia Brown was asked about her "older male partner."
This highlights the biases faced by female solo GPs in the venture capital industry.

ADVICE

Building a Track Record

Close a first round of funding and then focus on building a track record by investing.
This demonstrates your investment strategy and expertise to potential LPs.

INSIGHT

Building Partnerships

Building the right team and culture is the toughest challenge in venture, not necessarily investment decisions.
Finding talent that thrives in your specific work environment is crucial.

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Ophelia Brown is the Founder of Blossom Capital, one of Europe's newest but leading early-stage venture firms. Ophelia and the Blossom team have invested in stand-outs including Checkout, Duffel, Tines, and Moonpay. Prior to Blossom, Ophelia was a GP at LocalGlobe and a Principal at Index Ventures where her investments included Robinhood and Typeform.

In Today's Episode with Ophelia Brown We Discuss:

1.) From Restaurant-Owning DJ to Leading European VC:

How Ophelia made her way into the world of venture and came to found Blossom?
What does Ophelia know now that she wishes she had known when she entered venture?
What does Ophelia feel she is running away from?

2.) Venture Capital: The Market:

Why does Ophelia believe the best venture firms focus either by stage/theme/geography?
Why does Ophelia believe that marketing in venture has no substance? How can founders determine between what is real and what is false?
Why does Ophelia believe that growth investors have ruined the venture market?
When does Ophelia believe VCs will realise that FOMO investing is not a good strategy?

3.) Ophelia Brown: The Investor and Fund Manager:

What has been Ophelia's biggest investing mistake? How did it change her mindset and approach?
In a world where everyone does seed investing, why does Ophelia not?
How was raising the first Blossom fund? What were some of her biggest lessons?
Why does Ophelia believe that follow-on investing can damage returns?
How does Ophelia reflect on her own relationship to price? When has she paid up and it worked? When has she paid up and it not worked?
Does Ophelia think it is fair that many find her curt and abrasive to work with?

4.) Europe: Is Now Really The Right Time?

What would Ophelia like to see change in the way European VCs act?
If Ophelia could invest in one seed firm, one Series A firm and one growth firm in Europe, what would they be? Why?
What are 1-2 of the biggest barriers Europe must overcome in the next 5 years?