Hi,
Welcome (back) to MWAVC for my 544th post on about finance, investing, venture capital and all that jazz. My name is Ato (more about me here and here) and I try to write every single day, inspired by Seth Godin (Seth’s Blog) and Fred Wilson (AVC). I haven’t done the best job over the last few months (read: years 😬), but I’m working to be better and more consistent, even as I manage this crazy schedule.
In case you’re new here, quick introduction: I’ve been investing in some way shape or form for the last 12+ years and now work with one of the pre-eminent VC firms in Africa - Microtraction, and the family office that acts as the GP - Pave Investments. Read more on us here and here. Most of these writing are stuff I find interesting that I’d like to share and hear your thoughts on. This is also an outlet for my thoughts, lessons, asks etc. and I think you’d find most of it valuable if you’re remotely interested in learning about venture capital.
I’d be developing the content more, including things I think will be helpful and would appreciate any feedback on what’s working vs. not, and what could be helpful for you over the long term. If you’d like to sign up, you can do so here. Or just read on.
And BTW, If you are a (or know any) pre-seed, seed or Series A investor, looking to co-invest in African founders, please introduce them to me (ato@microtraction.com). Happy to learn about the next generation of category-defining businesses.
Founder in the Arena 🥅
I was about to post on a different topic, but a conversation I had yesterday morning with one of our founders made me think about this. I’m almost always reminded of this quote from Theodore Roosevelt when I’m speaking to entrepreneurs. It’s very easy for investors to think that because we have capital, we’re the smartest people in the room. But it’s a much harder and longer hustle for founders. As investors, it’s our duty to believe in our founders and support them how we can. But at the end of the day, the founder is the man in the arena, and we should respect that.
"It is not the critic who counts; not the man who points out how the strong man stumbles, or where the doer of deeds could have done them better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood; who strives valiantly; who errs, who comes short again and again, because there is no effort without error and shortcoming; but who does actually strive to do the deeds; who knows great enthusiasms, the great devotions; who spends himself in a worthy cause; who at the best knows in the end the triumph of high achievement, and who at the worst, if he fails, at least fails while daring greatly, so that his place shall never be with those cold and timid souls who neither know victory nor defeat."
Godspeed to all.
Currently Reading 🎒
Third time must be the charm. Picked up Olumide’s book again to give it another read. Very excited that I’m seeing new things this third time around. Everyone I’ve recommended it to has great feedback and I’m excited to be learning more about the stories of young African entrepreneurs.
Currently Listening 🎧
Patrick O’Shaughnessy has got a great new episode out with Danny Meyer on The Power of Hospitality. Check it out.
I hope this is helpful to some founders out there. I’m happy to speak more on this with anyone looking to build a company and wants feedback. Thinking of bringing my Office Hours back for founders to book 30 minutes to tell me about themselves, their businesses and ask for feedback, but haven’t made a full decision yet. Should I? 😬 (I’ve got 8 yeses to this so far, and looking for 2 more before I push it).
If you are a (or know any) pre-seed, seed or Series A investor, looking to co-invest in African founders, please introduce them to me (ato@microtraction.com) and let’s do some work together.
Remember: “Until the lion learns to write, every story will glorify the hunter.”
Please share and subscribe as well.
Till tomorrow,
AB