Hello, and welcome back to Equity!
Welcome to our Wednesday show, where we niche down to a single person, think about their work, and unpack the rest. This week, Natasha interviewed Ankur Nagpal, the entrepreneur behind Teachable, Ocho, and Vibe Capital – Ankur’s $70 million venture fund, raised last year from over 200 investors.
The Future of Solo GPs
As we discussed with Ankur, the future of solo general partners (GPs) is a topic that’s gaining attention. With the rise of venture capital funds, it’s becoming increasingly common for entrepreneurs to consider partnering with a GP to launch and grow their ventures.
However, as Ankur pointed out, being a solo GP can be beneficial in many ways. It allows you to maintain complete control over your vision and strategy, and you don’t have to worry about splitting profits or making decisions that might not align with your goals.
But it’s not without its challenges. As a solo GP, you’re responsible for everything – from finding and evaluating deals to managing relationships with investors and portfolio companies. It can be overwhelming, especially when you’re just starting out.
So, what are the implications of this trend? Will we see more entrepreneurs becoming solo GPs in the future? And how will this impact the venture capital landscape as a whole?
Ankur’s Choice to Shrink Vibe Capital’s Fund Size
As mentioned earlier, Ankur raised $70 million for his venture fund last year. But here’s what’s interesting – he intentionally kept the fund size smaller than many of his peers.
In fact, Ankur has said that he prefers working with a smaller team and making more intimate investments. He believes that this approach allows him to build stronger relationships with his portfolio companies and provides more flexibility in terms of investment strategy.
So, what motivated Ankur to shrink Vibe Capital’s fund size? And how does this decision impact the way he operates as a GP?
How Ankur Built, Sold, Pivoted, and Launched in Public
Ankur has had a fascinating career trajectory. He built Teachable from scratch, sold it, pivoted to Ocho, and then launched Vibe Capital.
Throughout his journey, Ankur has demonstrated a willingness to adapt and evolve. He’s not afraid to pivot when something isn’t working or to explore new opportunities.
But what’s equally impressive is how Ankur chose to launch Vibe Capital in public. By being transparent about his investment decisions and sharing his vision with the world, Ankur created a sense of community and connection around his fund.
This approach has its advantages. For one, it allows Ankur to build a more engaged and involved investor base. It also enables him to share knowledge and insights with others in the industry, which can lead to new partnerships and opportunities.
The Upside of Building in Public
As we discussed with Ankur, building in public has its benefits. By being open and transparent about your work, you can:
- Build a community around your venture
- Create a sense of connection and engagement among investors and stakeholders
- Share knowledge and insights with others in the industry
- Attract new partners and opportunities
Of course, there are also risks associated with building in public. You may face criticism or scrutiny from outsiders, and you’ll need to be prepared to handle potential controversies.
But for Ankur, the benefits far outweigh the drawbacks. By embracing a more open and transparent approach, he’s been able to build a successful venture fund that’s making waves in the industry.
The Importance of Brand and Succession
As we talked with Ankur about his experience as a GP, one theme emerged – the importance of building a strong brand and ensuring succession.
For Ankur, building a strong brand is essential. It allows him to differentiate Vibe Capital from other venture funds and attract top talent to work alongside him.
But succession planning is just as critical. By thinking ahead about who will take over his role when he’s ready to step back or retire, Ankur can ensure that his fund continues to thrive even after he’s gone.
This approach requires careful planning and consideration, but it’s essential for building a sustainable and enduring venture fund.
Lightning Round: The Meaning Behind Ankur’s Tattoo
As we wrapped up our conversation with Ankur, we couldn’t resist asking him about the meaning behind his tattoo. What inspired this design? And how does he feel about wearing it as a symbol of his entrepreneurial journey?
For Ankur, the tattoo represents a pivotal moment in his life – the moment when he decided to take the leap and start his own business. It’s a reminder of the risks he took and the lessons he learned along the way.
As we close out this episode, we’re left with a deeper appreciation for the complexities and nuances of entrepreneurship. Whether you’re building a venture fund or launching a startup, there are many lessons to be learned from Ankur’s experience.
Conclusion
In conclusion, our conversation with Ankur Nagpal has provided valuable insights into the world of venture capital and entrepreneurship. By understanding what it takes to build a successful venture fund, we can gain a deeper appreciation for the entrepreneurs who are driving innovation and growth in the industry.
As always, thank you for joining us on this episode of Equity! If you have any questions or topics you’d like to discuss, feel free to reach out to us on Twitter @EquityPod. We’ll be back next week with another exciting episode – tune in!
Bio
Natasha Mascarenhas is a venture capital reporter at TechCrunch. She focuses on the intersection of technology and society, exploring how startups and investors are shaping the future of industries from healthcare to fintech.
Prior to joining TechCrunch, Natasha wrote for Forbes and Bloomberg, covering business and financial news.
She holds an MBA from Columbia Business School and a BA in English Literature from Barnard College.