20VC: What Makes The Best Venture Firms Today So Special, The 3 Structural Impediments That Face Venture Today and Why The Debate on AR vs VR is BS with Anjney Midha, Founder & CEO @ Ubiquity6

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 2019

⏱️ 33 minutes

🔗️ Recording | iTunes | RSS

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Summary

Anjney Midha is the Founder & CEO @ Ubiquity6, the startup that allows you to edit reality together, turning any location into a space for real-time, shared AR and VR experiences. To date, Anjney has raised over $38m in funding for Ubiquity6 from some of the very best in the business including Phin @ First Round, Mike Volpi @ Index and Mitch @ Benchmark. Prior to Ubiquity6, Anjney spent 4 years on the other side of the table as an investor @ Kleiner Perkins and then as Founding Partner @ KPCB Edge, Kleiner's program helping founders get off the ground in AR, VR and Computer Vision.

In Today’s Episode You Will Learn:

1.) How Anjney made his way into the world of startups on the investing side of the table with Kleiner Perkins and how that transitioned to his founding of Ubiquity6?

2.) What does Anjney believe is structurally wrong with venture now more than ever? How does the extended period of privatisation affect emerging partners in venture firms? How does Anjney think the very best of investors think about and analyse history? Why does Anjney believe venture is the business of financing "creative hits"?

3.) What are the 3 structural impediments facing venture today? Why and how does Anjney believe we will see a new class of VC enter the space and be very successful? In what form could this take? How can they outcompete the current crop of VCs? What does Anjney mean when he discusses the "squishy middle" of VC?

4.) Anjney is backed by Index, Benchmark and First Round, what are the commonalities among those firms that make them so special? How do the very best of firms engage and build relationships with their entrepreneurs? How does Anjney believe that focus can be successfully applied to venture? What is the right way for VCs to evaluate themselves?

5.) What do VCs really want to know when they are approaching risk assessment with founders? What can founders do to mitigate risk when pitching to VCs? How do the very best founders attract the very best talent to their team? What are the commonalities? Where do some go wrong in building the optimal team?

Items Mentioned In Today’s Show:

Anjney’s Fave Book: Rainbows End

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

Likewise, you can follow Harry on Instagram here for mojito madness and all things 20VC.

Transcript

Click on a timestamp to play from that location

0:00.0	We are back on the 20 minute VC with me, Harry Stebbings, at H. Stebbings, 1996 with 2Bs on
0:05.2	Instagram, and it would be great to see you there. And what a founders Friday we have in store
0:08.9	for you today, though? I always believe that VCs turn founders have a really unique perspective
0:13.4	having seen both sides of the table, and I'm so excited to dig into that further stay, as we
0:17.6	welcome Anjini Midha, found and CEO at Ubiquity 6, the startup that allows you to
0:22.1	edit reality together, turning any location into a space for real-time shared AR and VR
0:27.6	experiences. To date, Anjini's raised over $38 million in funding for Ubiquity 6 from some of the very
0:33.5	best in the business, including Finn at first round, Mike Volpe at Index, and Mitch at
0:37.9	benchmark. And prior to Ubikorty, Anthony spent four years on the other side of the table as an
0:42.5	investor at Kleiner Perkins, and then his founding partner at KPCB Edge, Kleiner's program helping
0:47.4	founders get off the ground in AR, VR, and Computer Vision. I'd also want to say huge thank you to
0:52.3	previous guests on the show, Finn Barnes, Mike Volpe, and Mitch Lasky for some fantastic question suggestions today.
0:57.9	I really do so appreciate that. But before we dive into the show with Anjni today,
1:02.1	and we mentioned some incredible companies in the intro there, and I want to spend a minute to
1:05.6	talk about Brex. The first corporate card for startups, Brex founders, Henrique and Pedro, built a payments business in Brazil,
1:12.0	but found themselves rejected for a corporate card when they were in Y Combinator.
1:15.6	They decided to build Brex.
1:17.2	With instant online sign-up, no founder liability required, and limits 10 to 20 times higher than standard cards.
1:23.6	Yes, pretty incredible, I know.
1:25.2	And you can sign up for Brex today and get card fees waived by entering the code Harry during sign-up.
1:30.4	Honestly, it really is such a special service.
1:32.9	And speaking of special, did you know that there are five job openings for every one developer in the US?
	...

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