DeepSummary
The episode starts with a conversation between host Vidit Tagawal and Sophie Ritchie from KPMG High Growth Ventures, discussing KPMG's focus on advising early-stage, high-growth technology companies. Sophie highlights their data-driven approach, portfolio management strategy, and support across different growth stages.
The main guests, Phoebe Harrop and David Booth from Blackbird, then join the conversation. They share their backgrounds, including Phoebe's journey from law school to investing, and David's experiences with companies like AngelList, Carta, and On Deck before returning to New Zealand.
The discussion delves into the state of the New Zealand tech ecosystem, its challenges, and how Blackbird aims to foster generational companies. Phoebe and David provide insights on funding, founder mentality, customer obsession, and building relationships with investors. They emphasize the importance of community, global mindset, and execution.
Key Episodes Takeaways
- The New Zealand tech ecosystem has seen significant growth in recent years, driven by increased venture capital funding and government initiatives like Elevate.
- Blackbird has played a key role in shaping the ecosystem by introducing more founder-friendly terms and fostering a community-driven approach.
- Building generational companies requires a clear product vision, customer obsession, and the ability to attract and retain top talent.
- Founders should seek advice and build relationships with those who have recently gone through similar experiences, as their insights are most relevant.
- Passion, deep understanding of the problem, and the ability to articulate the 'why' behind a venture are crucial for attracting investor interest.
- New Zealand lacks a robust network of experienced angel investors, presenting a challenge for early-stage founders seeking funding and mentorship.
- Founders should be proactive in building relationships with investors well before fundraising rounds, demonstrating their earned insights and commitment.
- A global mindset and the ability to understand and cater to international customer expectations are essential for New Zealand startups seeking to scale globally.
Top Episodes Quotes
- “If you're going to raise a seed round, the best people to talk to are people who just raise a seed round. If you're going to expand into the US, the best people to talk to are the people who have just expanded in the US.“ by David Booth
- “Because we've done it so many times, advise our clients on what great looks like at different stages of growth. So we can say because we've got the data, if you're an ag tech and you're at a seed funding stage, this is kind of what you need to look like to be one of those great businesses out there.“ by Phoebe Harrop
- “Generational product roadmap looks far in the future, is Technicolor in its detail about what it wants to do for the customer. And then there's fantastic execution over the last 18 months or in delivering on the first step of that.“ by Phoebe Harrop
- “You know, we get hundreds and hundreds of inbound meetings a year and we can't take all of them. So use the time wisely and get the most out of it that you can.“ by Phoebe Harrop
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Episode Information
The High Flyers Podcast with Vidit Agarwal
Vidit Agarwal
7/2/24