What makes Texas’ VCs tick? In today’s session, Blair Garrou, Managing Partner at Mercury, leads a panel discussion with 3 Austin-based VC firms on the current investment landscape in Texas. Joining Blair are esteemed venture capitalists Craig Cummings of Moonshots Capital, Conrad Shang of Ensemble VC, and Han Shen of iFly.vc. Together, they’ll share key insights on emerging investment trends, discuss which sectors are attracting the most capital, and advise startups on navigating today’s market while achieving funding goals. This episode is part of the Software Day at the Ion series.
Timecoded Guide:
- [00:00] Podcast begins
- [01:07] 2024 Venture Capital Report: Blair talks Gunderson Dettmer findings
- [04:56] Meet the Panelists: What differentiates these 3 venture funds from others?
- [11:32] Portfolios & Philosophies: iFly.vc, Ensemble & Moonshots reveal what makes them tick
- [20:55] Living in the Future? How VC funds embrace AI in the digital age
- [29:10] Market Volatility: How should investors manage uncertain financial times?
- [36:03] Audience Q&A: AI disruption, Houston investment advice & the importance of location
Key Takeaways:
That ‘fit’ really is a big piece of the equation in our assessment,” Han Shen says, diving into iFly’s unique positioning and strategy as a solo GP. “We understand what is in it for the founders and us as investors, even before we extend a term sheet. To talk numbers, iFLY started in 2016 and over the course of the last 8 years, we’ve invested in a total of 15 companies.”
“As AI is disrupting how startups are being built, the prediction that people have is that the next multi-billion-dollar company is going to be built with five people,” Conrad Shang hypothesizes, explaining how Ensemble VC is revolutionizing their AI-first approach. “Our belief was that the same impact will also affect investing. Our high conviction model is one where AI is also going to disrupt venture.”
“Our investment philosophy is we invest in extraordinary leadership and we have developed a rubric behind that,” Craig Cummings says, outlining the unique founder-driven approach of Moonshots Capital. “At the end of the day, a seed or pre-seed founder is, with 90% certainty, going to be pivoting. That’s why we focus so much on the founder.”
