20 VC 071: Pre-Seed Investing, Why Now Is The Best Time with Nicholas Chirls @ Notation Capital
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
The Twenty Minute VC
4.4 • 637 Ratings
🗓️ 14 September 2015
⏱️ 29 minutes
🧾️ Download transcript
Summary
Nicholas Chirls is the Founder and Partner @ Notation Capital, one of New York's genuine pre-seed funds investing in pre-growth startups with huge potential. Prior to Notation, Nichoas was Head of Investment at Betaworks, leading investments in companies such as Electric Objects, Estimote, URX, Namo Media (acquired by Twitter) and Grand St. (acquired by Etsy).
If you would like to email Nick, his email is [email protected]
In Today's Episode You Will Learn:
1.) How Nick made his move into the venture industry?
2.) Who does Nick consider a mentor and thought leader in the VC industry?
3.) Why now is the best time to be a pre-seed fund in NYC?
4.) At the pre-seed stage what metrics does Notation focus on?
5.) How does Nicholas evaluate the valuation ecosystem?
6.) How does Nicholas handle deal sourcing? Where does he find startups to invest in?
7.) Does crowdfunding act as a competing finance method at the pre-seed stage?
Items Mentioned In Today's Episode:
Nick's Fave Book: My Brilliant Friend by Elena Ferrante
Nick's Fave Newsletter: Wait But Why
Nick Most Recent Investment: Zipdrug: Your Prescriptions Delivered on Demand
Best Meditation Apps: Headspace, Calm
As always you can follow Harry, The Twenty Minute VC, Nick and Notation on Twitter here!
If you would like to see a more colourful side to Harry with many mojito sessions, you can follow him on Instagram here!
Transcript
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| 0:00.0 | Hello and welcome to The 20 Minute VC with your host Harry Stebbings, and this week the 20 minute VC is heading across the pond. |
| 0:08.5 | Yes, we are interviewing the latest and greatest investors in New York, and for today's show, we welcome Nicholas Churls, founder and partner at Notation Capital, one of New York's genuine pre-seed funds, looking to invest in pre-growth ventures. |
| 0:25.0 | As Nick says, no venture is too early. |
| 0:27.9 | And prior to notation, Nicholas was head of investments at BetaWorks, leading investments in companies such as electric objects, ink, Estimote, Inc, URX, NAMO Media, Inc., which was bought by Twitter, Inc., and Grand Street, acquired by Etsy. |
| 0:44.6 | But before we dive into today's amazing show with Nicholas, let me stop for a moment and tell you a little bit about Vidal Law Group. |
| 0:51.3 | Yes, they are a boutique law firm that is tailored towards |
| 0:55.3 | entrepreneurs and startups. And Chris Werner, who is the founder of Vidal and is a personal |
| 1:01.6 | friend of mine, does the most incredible job working with startups on anything from copyright |
| 1:06.4 | infringements to labour and employment issues to corporate mergers and acquisitions. |
| 1:11.7 | They really are the best at what they do, and you can check them out at www.vidarlaw.com, |
| 1:18.0 | or by following Chris on Twitter at Chris underscore Vidar Law. |
| 1:22.8 | Chris Charles, founder and partner at Notation Capital. |
| 1:30.5 | You have now arrived at your destination. |
| 1:34.0 | Now, Nicholas, welcome to the 20 minute VC. |
| 1:36.7 | It's an absolute pleasure to have you on the show. |
| 1:39.5 | Thank you, Harry. Thanks for having me. |
| 1:42.0 | And now you're a partner at Notation, |
| 1:47.1 | and you've been head of investments at BetaWorks, |
| 1:52.7 | but can you kick us off by telling us where it all started for you and how you made your move into the venture industry? |
| 1:58.4 | In many ways, I think, like many of these days, I stumbled into a role in venture. |
| 2:03.6 | I think because it's in many ways a boutique industry. The reality is that it's hard to, it's hard to plan for in many ways. And so, and so, you know, I've been |
| 2:12.6 | building and investing in startups here in New York since 2008. |
... |
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