20VC: Gil Penchina on Building The World's Largest AngelList Syndicate with Flight.vc

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

The Twenty Minute VC

Finance, Venturecapital, Tech News, News, Siliconvalley, Technology, Investing, Startups, Business

4.4 • 637 Ratings

🗓️ 8 February 2016

⏱️ 22 minutes

🔗️ Recording | iTunes | RSS

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Summary

Gil Penchina is the Founder @ Flight.vc, a network of AngelList syndicates that covers a wide range of sectors from SaaS to security from Israel to England. Gil also has the title of the largest raise for an AngelList syndicate, essentially turning himself into a one man fund. Some of Gil's investments include the likes of Paypal, Indiegogo, AngelList, Linkedin and many more. Prior to his investing career, Gil cut his teeth with operating roles at numerous companies including Ebay. We would also like to wish Gil the best of luck in his nomination for Angel Investor of The Year at tonight's Crunchies by TechCrunch.

In Today's Episode You Will Learn:

1.) How Gil made it into startups and the investing industry?

2.) Why did Gil choose numerous syndicate approach over one huge syndicate? What are the benefits of having numerous specialized syndicates?

3.) What is included in Gil's sell of Flight as an investor? What is the driving force behind the success of Flight? What is the biggest challenge within this job as founder?

4.) How does Gil try and convince the startups that the syndicate method of investment is better for them? How does Gil portray his value add to startups?

5.) Does Gil insist on pro-rata rights? Should founders always grant them to early stage investors?Which VCs does Gil like to work with and what makes them a good VC?

6.) Where does Gil see the future of first AngelList? Will it replace the archaic system of VC? What are Gil's plans for his syndicates? Is Gil looking to move into Series A and B rounds? How do you plan to become the Fidelity of this asset class?

Items Mentioned In Today's Episode:

Gil's Fave Book:

Ayn Rand: Atlas Shrugged

Gil's Fave Blog or Newsletter:

Nuzzel

Gil's Most Recent Investment:

Happn

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

If you would like to see a more colourful side to Harry with many a mojito session, you can follow him on Instagram here!

This episode was supported by Wunder Capital, the leading online investment platform that allows individuals to invest in large scale solar projects across the U.S. Wunder’s solar investment funds allow you to earn up to 11% annually, while diversifying your portfolio, curbing pollution and combating global climate change. Do well by doing good and sign up for a free account here and join the thousands of people that are already achieving their investment targets.

Transcript

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0:00.0	So many exciting things to kick off with today. Firstly, after 19 years, I have finally made the trip to San Francisco, and I am in town now as we speak.
0:10.1	So if you're listening and are in SF, hit me up at Harry at the 20 minute VC.com, and we can go for a mehito. It'd be fantastic to meet you.
0:18.9	Why am I in town? Well, because I'm delighted to let you know
0:22.5	that I'll be working with Jason Lemkin, the godfather of SAS and the amazing Saster team
0:28.1	to produce the official Saster podcast, bringing you the latest and greatest from the world of
0:34.3	SaaS, from founders and operators to VCs and Angels. It's your one-stop shop
0:39.2	for a SaaS podcast, and I'll let you know when that's available to download. I'm also so excited to say
0:45.1	that this week we are featuring the amazing angel list and the stars that have conquered it. Therefore,
0:50.8	who better to join me today than by welcoming the incredible Gil Penchina, founder at
0:56.4	flight.V.C., a network of angel-list syndicates that covers a wide range of sectors, from
1:02.5	SaaS to security, from Israel to England. Gil also has the title of the largest raise
1:08.4	for an angelist syndicate, essentially turning himself into a one-man
1:12.7	fund. And some of Gill's investments include some pretty well-known companies that you might
1:17.2	have heard of, including PayPal, LinkedIn, Angel lists themselves, Indiegogo, and many, many more.
1:24.3	We would also like to wish Gil the best of luck in his nomination for
1:27.9	Angel Investor of the Year at tonight's Crunchies by TechCrunch. Come on, Gill, we're rooting for you.
1:34.4	But before we dive into the show today, this episode of the 20-minute VC is supported by Wonder Capital,
1:39.8	the leading online investment platform that allows individuals to invest in large-scale solar projects
1:46.1	by allowing you to earn up to 11% annually, while diversifying your portfolio, curbing pollution, and combating global climate change.
1:56.1	Their use of sophisticated underwriting investing algorithms can help you achieve your investment goals.
2:02.6	And best of all, Wonder Capital doesn't take any fees for investing your money.
2:06.7	And you can create an account and join the thousands that already have done for free at
	...

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