20VC: Why Companies Going Bust Is Part Of The Plan, Why Most VCs Are Later Stage Than They Think & Why Venture Capital Is Humbling with Charlie O'Donnell, Founder @ Brooklyn Bridge Ventures

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

🗓️ 2 January 2017

⏱️ 28 minutes

🔗️ Recording | iTunes | RSS

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Summary

Charlie O’Donnell is the Founder and Sole Partner @ Brooklyn Bridge Ventures, the first venture capital fund based in Brooklyn, who manage $23m across 2 funds. Prior to founding Brooklyn Bridge, Charlie worked at the prestigious First Round Capital, with the likes of Josh Koppelman and Union Square Ventures with Fred Wilson. If that wasn’t enough Charlie is one of only a dozen to be named to Business Insider’s 100 Most Influential People in NY Tech five or more times and has served on the founding board of the New York Tech Meetup and is one of the group’s first 100 members. His blog, This is Going to Be BIG!, is one of the ten most widely read VC blogs in the country with over 8,000 readers.

In Today’s Episode You Will Learn:

1.) How Charlie made his move from college to venture and then struck out on his own from USV?

2.) Charlie has previously said that 'venture capital is humbling'. How does Charlie look to construct his portfolio with Brooklyn Bridge? How does he come to terms with the fact he will be wrong most of the time?

3.) What are Charlie's views towards follow-on funding and allocating reserves of the fund? How important is this from a return multiple perspective? How much of a difference does it make for founders to raise a next round with 100% of seed investors committed?

4.) Charlie has previously suggested the importance of being helpful and hard working. Is that really enough to build a brand in today's competitive VC environment? Is brand a form of defensible IP?

5.) How does Charlie react to Ben Lerer's suggestion that Jet.com and Dollar Shave Club are the first dominoes of an incoming wave of e-commerce M&A?

Items Mentioned In Today’s Show:

Charlie’s Fave Blog: Wait But Why

Charlie's Most Recent Investment: Industrial Organic

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

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

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Transcript

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0:00.0	Hello and welcome back to the 20-minute VC with your host Harry Stebbings, and you can find me
0:03.9	drinking Mahito's on Snapchat at H. Stebbings with two Bs, and writing some hopefully more thoughtful and
0:09.2	academic pieces on MahitoVC.com. You can find my goals and objectives for the coming year on
0:14.6	Mahitovc.com. And I want to say a very happy New Year, 2017 is going to be a great one, and with the new year, there are new
0:21.2	funds, and on that note, I'm delighted to welcome Stay's guest, a second timer to the show,
0:25.9	and one I'm delighted to welcome back, having recently raised his second fund.
0:29.4	So, joining me in the Hot Seat today, we have Charlie O'Donnell.
0:31.9	Now, for those that do not know, Charlie is the founder and sole partner at Brooklyn Bridge Ventures, the first venture capital fund based in Brooklyn, New York, who managed 23 million across two funds.
0:41.6	And prior to founding Brooklyn Bridge, Charlie worked at the prestigious first round capsule with the lights of Josh Coppulman, and Union Square Ventures, with the likes of Fred Wilson and Albert Venger.
0:50.1	If that wasn't enough, Charlie is one of only a dozen to be named to Business Insiders 100 most
0:54.5	influential people in New York Tech five or more times, and has served on the founding board of the
0:59.5	New York Tech meetup and is one of the group's first 100 members. However, with the New Year,
1:04.1	we also need new routines, and one of mine is sleeping more. Mejito unassisted, that is, of course. And that's where the Simba hybrid comes in.
1:11.3	It's the most advanced mattress in the world with a unique combination of 2,500 conical pocket springs
1:16.8	and responsive memory foam. It offers the perfect support for two people, a mattress that responds
1:21.6	to you and your partner's sleeping patterns. Delivered free with a 100-night sleep trial, free
1:26.4	returns and a 10-year guarantee.
1:28.2	So simply start your free trial at simba sleep.com. Another target of mine for the new year is
1:33.0	productivity, and there's no better for that than serious insight. The plugin for sales pros
1:37.4	who use Gmail and Outlook. It automatically updates activities in Salesforce, so you don't have to.
1:43.0	And it was named number 41 on the Inc. 500
1:45.2	list of fastest growing companies, and it has more than 1,700 customer reviews on the Salesforce
	...

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