Business
WeXchange Podcast Brad Feld, Foundry Group: Supporting the Next Generation of Investors and Entrepreneurs, Ep 5 Brad Feld is currently Managing Director and co-founder of Foundry Group, a venture capital firm that focuses on making early-stage tech investments, participating in select growth rounds, and identifying and supporting the next generation of venture capital fund managers. However, Brad has worn many hats in his more than 30 years of experience as an early-stage investor and entrepreneur. He has co-founded firms such as Mobius Venture Capital, Intensity Ventures, and the renowned global startup accelerator program TechStars. He also serves on the board of several nonprofits and is a prolific writer, known for his StartUp Revolution book series and his blog Feld Thoughts. In this episode, we talk to Brad about his experience investing in and founding companies since 1987. He reflects on his biggest successes and failures, including one of his earlier companies, Interliant. We also cover his views on how entrepreneurial ecosystems can thrive and how to push for diversity in founding teams. Brad also gives great advice to first-time fund managers and talks about his experience living through the internet bubble. Techstars’ philosophy: give first As a founder, Brad is proudest of Techstars in terms of the global impact it has had on entrepreneurship around the world. A large part of this success has to do with the organization’s mantra to ‘give first’: putting energy into a system with an expected, but undefined commercial benefit. Brad sustains that this part of Techstars’ philosophy has been important in doing business on a global scale where there are different cultures and approaches involved. Listen to this episode of the WeXchange podcast to learn more about Techstars’ global expansion and success. Pushing the diversity agenda Brad explains that entrepreneurs vary in different dimensions, and gender is one of them. Diverse founding teams reflect much more creativity and flexibility than teams with a monoculture, which is why he believes introducing variations into teams can have a powerful effect. Many companies, especially in the US, are now measuring diversity using different variables such as gender and ethnicity. Check out this episode of the WeXchange podcast to find out how investors push for diversity in the companies they invest in. “It takes a long time to know if you’re a good investor or not” In this episode, Brad gives some valuable advice for first-time fund managers. He stresses the importance of having a strategy and being deliberate with any modifications that are made to it. He also talks about investing time in one’s professional development in addition to the relationships in the firm. Brad also knows that in most cases it will take 5 to 7 years before fund managers see a big outcome in their investments. Tune in to this episode of the WeXchange podcast to learn more about Brad’s advice to first-time fund managers from his years of experience in the industry. With over 30 years of experience, Brad Feld has accumulated a wealth of knowledge and expertise in entrepreneurship. He continues to give back to the community as a great investor, entrepreneur, mentor, advisor, and writer. Show Notes: [1:46] - Biggest failure and successes[10:11] - Conditions for making an ecosystem thrive and foster innovation[16:55] - Investing in female versus male entrepreneurs[21:24] - The diversity agenda[23:14] - Advice for first-time fund managers[25:42] - Concerns about the possible valuation bubble[27:36] - Advice to Brad’s younger self Resources Mentioned: Foundry Group Mobius Venture Capital Intensity Ventures Interliant Feld Technologies Techstars Feld Thoughts blog Venture Deals: Be Smarter Than Your Lawyer and Venture Capitalist - Brad Feld The Startup Community Way: How to Build an Entrepreneurial Ecosystem That Thrives - Brad Feld Startup Communities: Building an Entrepreneurial Ecosystem in Your City - Brad Feld