Adam Besvinick is the Founder of Looking Glass Capital, a pre-seed-focused firm started in 2020. Before starting Looking Glass, Adam spent about 5 years at Deep Fork Capital and Anchorage Capital Group investing in pre-seed through Series C. Adam's portfolio across funds includes the likes of BigID, Transfix, NomNom, and Hone Health, to name a few. In Today's Episode with Adam Besvinick We Discuss: 1. How Twitter Led to Founding a Venture Firm: • How did Adam make his way into the world of venture through Twitter? • What are 1-2 of his biggest lessons from working with the legend, Chris Sacca? • What does Adam know now that he wishes he had known at the beginning of his time in VC? • What do most young VCs misunderstand when it comes to reputation? 2. Raising Fund I: The Process: • How many LP meetings did Adam have to close Fund I? • What docs and materials did he have for the fundraise? How does he advise other managers on doing docs for fundraises? • How do different LP profiles want different things in the managers they work with? • How did Adam approach first vs final close? How does he advise others managers on closing? • How did Adam instil a sense of urgency in LPs to move and commit to the fund? • What are 1-2 of Adam's biggest pieces of advice to managers raising a first-time fund? 3. Looking Glass: The Very Disciplined Pre-Seed Strategy: • How did Adam decide on the fund size? Why is it the optimal fund size? • What is the desired ownership for Adam? What level of dilution does he expect across the lifecycle of the company? • What is the average check size? What is the average entry price? • How does Adam approach reserves and follow-on checks? • How does Adam reflect on his own relationship to price? • Why does Adam not like the majority of pre-seed micro-fund strategies? 4. The Market: Multi-Stage Firms Destroying Seed • Does Adam agree that "multi-stage firms have destroyed seed rounds" • ? • How does Adam advise founders when they have multi-stage offers and seed firm offers? • Who will be the winners and losers in the next 10 years of venture? • Why is it harder than ever to advise founders on fundraising rounds today?

Release date

Lydbog: 29. maj 2023