20VC: How Today's Market Changes How Companies Should Approach Burn and Runway, Are Financing Markets Closing? How To Know When To Pay Up vs Stay Price Disciplined & Why The Most Important Thing in Venture is Generating Positive Selection with Bill Cilluf

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

🗓️ 22 April 2022

⏱️ 42 minutes

🔗️ Recording | iTunes | RSS

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Summary

Bill Cillufo is Partner and Head of International Investments at QED, one of the leading fintech venture firms today with a portfolio including Nubank, Kavak, Klarna, Quinto Andar and Bitso to name a few. As for Bill, he has led investments in Nubank, Loft, Wagestream and Creditas among others. Prior to joining QED, he spent nearly 20 years at Capital One, spanning several roles and leading several businesses. During Bill’s last 3 years at Capital One, he led its Co-Brand and Private Label credit card business, building the business nearly from scratch to one of the top few players in the US market.

In Today’s Episode with Bill Cillufo You Will Learn:

1.) Origins into Venture:

How Bill made his way from 20 years at Capital One to becoming a Partner @ QED?
How did Capital One inform his mindset around unit economics?
Having seen booms and busts firsthand with Capital One, how did that impact his investing mindset today?

2.) The Landscape: What is Happening?

Where does Bill believe the biggest crunch in funding markets is today?
Does Bill believe this will trickle down to the early stage?
How does Bill advise his portfolio companies on runway and burn given the environment?
What does Bill believe that many have not seen that is coming?

3.) Bill Cillufo: The Investor

How does Bill analyse his own relationship to price and price sensitivity?
How has Bill changed as an investor over the last 5 years? What caused the changes?
How does Bill reflect on reserves management given the new landscape we are in?

4.) QED: The Expansion

Does Bill believe that expanding geographically has become easier with time?
What has become harder about expanding into new geographies?
How important does Bill believe partnering with local firms is when VCs enter new territories?

Item’s Mentioned In Today’s Episode with Bill Cillufo

Bill’s Favourite Book: Tom Clancy: The Hunt for Red October

Bill’s Most Recent Investment: Refyne

Transcript

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0:00.0	Welcome back. This is 20VC with me, Harry Stebbings, and back to the land of venture investing
0:04.2	following our 20 product with the amazing a partner at Robin Hood on Wednesday. That was a must
0:08.6	listen if you haven't already. But to the show today, and I'm thrilled to welcome one of the leading
0:12.5	fintech investors in the form of Bill Salufo. Bill is a partner and a head of international investments
0:17.2	at QED, one of the leading fintech venture firms today, with a portfolio including
0:21.7	New Bank, Cavak, Clana, Quintuant, Da, and Bitso, to name a few. As for Bill, he's led investments
0:27.7	in New Bank, Loft, Wage Stream and Creditas, among others. And prior to joining QED, he spent the most
0:33.4	incredible 20 years at Capital One, spanning several different roles. And in the last three years
0:38.6	at Capital One, he led its co-brand and private label credit card business, building the business
0:43.4	from scratch to one of the top players in the US market. I'd also want to say huge thank you to
0:48.1	Portman at Wage Stream and to Nigel at QED and David at Newbank. Some fantastic question
0:53.1	suggestions today really did make such a
0:55.2	difference. But before we dive into the show today, modern investment analysis is increasingly
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	...

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