20VC: Are VCs Still “Open For Business”, How VCs Attitude To Risk Has Changed & The 2 Most Valuable Assets To Founders Today with Fred Destin, Founding Partner @ Stride VC

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

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20VC: Are VCs Still “Open For Business”, How VCs Attitude To Risk Has Changed & The 2 Most Valuable Assets To Founders Today with Fred Destin, Founding Partner @ Stride VC

20VC

Apr 08, 2020

Fred Destin is a Founding Partner @ Stride.VC, one of Europe's newest and largest early-stage seed firms. Prior to co-founding Stride, Fred was a General Partner @ Accel where he was the lead investor and board member at Deliveroo, Pillpack (acq. AMZN for $1BN) and Carwow. Prior to Accel, he was a partner at Atlas Venture (now Accomplice) where he invested in and served on the board of Pillpack, Zoopla (IPO), Secret Escapes, Integral Ad Science (partial exit to Vista at $850M) and TheCurrencyCloud to name a few. Fun fact, his portfolio has a total enterprise value of more than $10BN and he generated in excess of $700M in exit value to investors.

In Today’s Episode You Will Learn:

1.) How did Fred make his way into the world of venture and come to co-found one of Europe's newest and largest seed funds in Stride.VC?

2.) If you look to Twitter, all VCs are "open for business", does Fred really believe the market is still open for business? How will deal volume be affected? How bad does Fred think this could get? How does this downturn compare to that of the dot-com and 2008?

3.) Why did Stride decide to take the decision to pause on investing at this moment in time? How does Fred respond to the suggestion of better pricing and less competition at this time? How does Fred believe venture investors view of risk evolves at this time? What is the first to change?

4.) With many new funds deploying their first fund in 18 months, does Fred think we will see a gravyard of new fund managers out of cash and with cash hungry portfolios? What advice does Fred give to newer managers of other elements they have to be minfdul/aware of?

5.) How does Fred think about the right way for managers to communicate with their LPs at this time? What has Stride done that has worked? Does Fred believe we will see many LPs defaulting on their initial commitments? How does Fred think emerging managers can navigate this?

Items Mentioned In Today’s Show:

Fred’s Fave Movie: Mulholland Drive

Fred’s Most Recent Investment: Collective Benefits

As always you can follow Harry, Fred and The Twenty Minute VC on Twitter here!

Likewise, you can follow Harry on Instagram here for mojito madness and all things 20VC.

Discussion about this podcast

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

The Twenty Minute VC (20VC) interviews the world's greatest venture capitalists with prior guests including Sequoia's Doug Leone and Benchmark's Bill Gurley. Once per week, 20VC Host, Harry Stebbings is also joined by one of the great founders of our time with prior founder episodes from Spotify's Daniel Ek, Linkedin's Reid Hoffman, and Snowflake's Frank Slootman.

If you would like to see more of The Twenty Minute VC (20VC), head to www.20vc.com for more information on the podcast, show notes, resources and more.

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