Massimiliano Silenzi

Vijen Patel is the founding partner of The 81 Collection, a VC fund that invests in unsexy industries. Before that, Vijen founded Pressbox, a dry cleaning startup, in 2013 and sold it to Procter & Gamble in 2018. In our conversation, Vijen shared: → What defined his upbringing → Journey with Pressbox → Building The 81 Collection → Investing in Hard Industries → The Power of Patience and Purpose → India opportunity → Sports & family & much more! Listen now 👇🏼 Youtube: https://bit.ly/3XujEs2 Spotify: https://bit.ly/3Tjeah5 Some key takeaways: 1. Breaking the Mold: Coming from a family of physicians, I chose a different path—entrepreneurship. Sometimes, success means stepping out of the expected and embracing your unique journey. 2. The Power of Risk-Taking: American culture's risk-taking spirit played a crucial role in my career. Being the first in my family to venture into technology, I realized that risk is often the bridge between dreams and reality. 3. From Actuarial Science to Building an Empire: My entrepreneurial journey started with a failed attempt at being an actuary. Yet, that experience led me to finance and eventually to founding a dry cleaning startup that grew to 1200 locations. Don’t fear pivots; they might lead you to unexpected success. 4. Investing in ‘Unsexy’ Industries: While many chase the next big tech startup, I found value in overlooked sectors. Investing in what others ignore can yield the most significant returns, both financially and socially. 5. Purpose-Driven Success: For me, entrepreneurship isn’t just about profits. It’s about creating jobs, lifting communities, and making a lasting impact. When your work aligns with a deeper purpose, the rewards are far beyond financial. What risks have you taken that changed your life or career? Share your thoughts below! #investing #entreprenurship #indiandiasporas

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Last week's online gathering was magic 🌎 ! Founders, investors, and innovators from Singapore to Egypt, Philippines to the Netherlands came together to unlock the science behind startup success. Here's what actually determines venture success... 𝗧𝗵𝗲 𝗘𝗮𝗿𝗹𝘆-𝗦𝘁𝗮𝗴𝗲 𝗦𝘂𝗰𝗰𝗲𝘀𝘀 𝗣𝗮𝘁𝘁𝗲𝗿𝗻: 1️⃣ High Commercial Focus Successful founders prioritize market impact over perfection Early profitability focus correlates with exit success Key metric: Time from idea to revenue generation 2️⃣ Optimal Rule-Breaking Top performers score high on 'indifference to rules' Disruptive innovation requires questioning status quo But: Balance needed with compliance in regulated industries 3️⃣ Action Over Planning High initiation trumps perfect planning early on Data shows: Excessive structure correlates with startup failure Sweet spot: 70% action, 30% planning in first 18 months 𝗧𝗵𝗲 𝗦𝗰𝗮𝗹𝗲-𝘂𝗽 𝗦𝗵𝗶𝗳𝘁: Key success factors flip at Series B: Structure becomes critical (60% correlation with success) Team management priority increases 3x Systems thinking becomes essential 𝗣𝗿𝗮𝗰𝘁𝗶𝗰𝗮𝗹 𝗔𝗽𝗽𝗹𝗶𝗰𝗮𝘁𝗶𝗼𝗻: For Founders: Assess your current stage honestly Match your behaviors to your stage Plan for cognitive shifts as you scale For Investors: Different evaluation criteria needed per stage Early vs. growth stage patterns differ significantly Human due diligence reduces failure rates by 79% For Corporate Leaders: Innovation requires different metrics than BAU Structure can kill early-stage initiatives Create separate frameworks for different stages 𝗥𝗲𝗮𝗹 𝗘𝘅𝗮𝗺𝗽𝗹𝗲 𝗳𝗿𝗼𝗺 𝗬𝗲𝘀𝘁𝗲𝗿𝗱𝗮𝘆: An aspiring founder with big tech company background realized her high structure motivation (common in tech giants) would actually hinder her startup's growth. Simple awareness will lead to immediate adjustments in team dynamics and decision-making speed. 𝗔𝗰𝘁𝗶𝗼𝗻 𝗦𝘁𝗲𝗽: Identify your current success-blocking pattern. Is it: Over-planning? Excessive structure? Too much consensus-seeking? Share your pattern below and let's discuss specific solutions 👇 #StartupSuccess #VentureCapital #FounderInsights #ScaleUpStrategy

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Out of some 42,000 startups, 288 have been bought so far in 2024.  The old adage that startups are bought, not sold seems to be holding true. I enjoyed speaking with Peter Walker, Head of Insights Carta, on The Lonely Office to talk about the "Startup Gamble: What are Your Odds?" I've been following his posts for a while and I love the way he stitches together startup insights and advice with a data driven perspective using the Carta database. And I believe I'm not the only one who finds his insights valuable. So we thought we'd bring him on to speak about the best cities to raise angel and pre-seed money (it's no longer just SF and NY), the most common exit periods for startups, and why the VC phrase "lifestyle startup" is a term that needs to be phased out. Check in below for more discussion.

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No big launch, no massive ad spend—just millions of users. How? By surprise. Command AI (fka CommandBar) is one of my favorite startup stories. They went from 0 to 25 million end users - within months 🔥 🔥 🔥 🔥 🔥 🚀 ... all without a traditional go-to-market strategy. My 5 key learnings👇 1. Focus on solving one real problem - Their product started by solving one clear pain point for a single customer. - That focus led to a solution that resonated with millions. - It’s easy to get distracted, but simplicity wins. 2. Build for your customers, not just the market - CommandAI didn’t have a master plan to reach millions. - Instead, they got close to our users, listened, and adapted quickly. - When you build alongside your customers, growth follows. 3. Let word-of-mouth do the heavy lifting - CommandAI didn’t invest in big marketing campaigns. - But their users became advocates, spreading the word organically. - If your product truly solves a problem, people will share it. 4. Sometimes, speed beats perfection - CommandAI didn’t wait for the product to be perfect before launching. - By moving fast, they learned and iterated faster than competitors. - Progress over perfection is key, especially in the early stages. 5. Embrace the unexpected - The explosive growth was never part of the plan. - By staying agile, they rode the wave instead of fighting it. - You can’t predict everything—be ready to pivot. Want to know more about how they stumbled into success? Check it out on YouTube: 👉 www. youtube. com @enzoavigo (remove spaces) Special thanks to Command AI & James Evans for sharing his journey!

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Early stage founder in pre-seed stage? Here's how to go from 0 to 1 in 6 weeks. About 6 months ago, a group of 4 founders approached me. They pitched me on this awesome mobile app idea for the European market. It was different. No direct competitors doing the same thing with a digital product. The conversation started, as it usually happens, with the full 1.0 thing. "How much would it cost to build this mobile app?" We talked money a bit, but I immediately took them to a different spot. To me, starting a new business and going straight to building a mobile app isn't very smart. Even if they have the money. They are getting into a new market, with no competitors, and no validation. Not only idea validation, but also problem validation. They trusted they could improve the current services that solved one part of the problem. But again, without any kind of real data points to validate the business model. As I usually do, I cut back on the entire scope. Instead of thinking about building the app, we started cutting back on previous steps. How might we design a concept without building it? How might we design the main feature of the app without designing a full concept? How might we design something that could get attention from future customers? How might we design a manual version of the business where you serve customers immediately? How might we ship something so that customers want to sign up to a waitlist? We found a great middle point within our ideation session. No MVP. No app. No full mobile design. Just a product concept that would allow them to go out there and start making noise. Not only with investors, but fulfillment partners, and potential customers. In 6 weeks, we designed this product concept, little brand, a small prototype demo of the app, and pitch deck. They spent a small fraction of what they initially had in mind. And above all, they avoided long term product decision headaches. We fully immersed ourselves into coming up with a v0.1 of the business idea, and shipped it in 6 weeks. This is how I challenge every single founder either starting a new business or expanding a new vertical within an existing one. Always ask "how might we?". And look for a v0.1 concept within the answer, not a final product.

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Navigating Seed-Stage Fundraising: Key Insights Understanding seed-stage fundraising is crucial for any startup founder. Here’s a concise look at the landscape, based on data from 1,271 priced seed rounds between April 2023 and March 2024. Top Players: - SaaS leads in deal volume, showing strong investor interest. - Healthtech and Fintech are also in the spotlight, with Healthtech now surpassing Fintech. High Valuation and Cash Raised: - HR startups stand out with the highest median pre-money valuation and cash raised. - Transport and Renewable Energy also show high valuations, indicating significant potential. AI’s Impact: - AI influences multiple sectors and would top every chart if tracked separately, highlighting its transformative potential. Benchmarks: - Median pre-money valuation: $13M. - Median cash raised: $3M. Industry Clusters: Analytics, SaaS, and Healthtech form significant clusters around median values. Biotech and Cybersecurity also perform strongly. Lagging Sectors: DTC Retail, Food, and Personal Products lag in both valuation and cash raised, potentially exploring alternative funding methods. Deeper Insights: -Industry Disparities: Significant variations exist, with Healthtech showing increased investor confidence. -AI’s Dominance: AI offers diverse investment opportunities across industries. Decline in Seed Volume: -Most sectors see reduced seed funding, except for AI. -Alternative Funding Strategies: Some founders are exploring revenue-based funding instead of traditional VC routes. Takeaway: Navigating the seed-stage funding landscape requires strategic understanding and adaptability. This evolving environment offers unique opportunities and challenges for both investors and founders. If you're on this journey, let’s connect. I’m here to help you navigate these complexities and improve your chances of securing funding. #startups #entrepreneurship #venturecapital #investing #finance #crossborder #inovexus #startup #VC #earlystage #angleinvestor

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This is One of My Most Significant Professional Milestones 👊🏻👊🏻👊🏻 Over the past few years, I’ve raised substantial funding, built and sold successful startups, got into Y Combinator, welcomed at a Chari store Her Majesty, the Queen of the Netherlands, had Harvard Business School write a business case about my journey, was invited by president Joe Biden to the US-Africa Forum, led successful M&A integrations, achieved PCI-DSS certification, and more… Yet, despite all these milestones, this particular achievement stands out as the one I am most proud of—and here’s why. About a year ago, when the Central Bank of Morocco granted Chari an EMI license, I was introduced to the fascinating world of payments (and the expensive market of Core Banking Systems). Navigating this complex environment of legacy banking services, SaaS models, and licensing offerings was no easy feat. After listening to various pieces of advice, I initially leaned towards an off-the-shelf solution, favoring a short time-to-market strategy. Then came a pivotal conversation with my investor and advisor, Daniel Rumennik. I remember him saying, “Now that you’ve raised capital, I feel like I’m losing the Ismael I met during YC—the one who would spend nights bootstrapping solutions. Don't forget that you’re a tech founder building a tech company. You will only succeed if you remain free and nimble. You're based in Morocco, with access to local, high-quality talents. Time is not your enemy anymore—markets have slowed down, and there's no more race for non-profitable hyper-growth. Build your own destiny by developing your own tech. Take your time and create something solid that can scale with you.” Thanks Dan. Today, I’m proud to announce that not only has Chari successfully built its own Core Banking System (The Chari CBS), but that HPS Switch, the Moroccan national switch, has also homologated it. This allows Chari to start opening B2B and B2C payment accounts with local IBANs and link them to debit cards. This achievement wouldn’t have been possible without Chari’s dedicated tech team, who went above and beyond (you know who you are, thanks guys, you are heroes), and the experienced consultants who guided us along the way. We were also incredibly fortunate to collaborate with the talented team at HPS Switch—a company that Morocco can truly be proud of, as they are global leaders in their field. #ProudtobeMoroccan Stay tuned as Chari enters the final stages: rolling out our system, conducting quality and security testing, and preparing for the live launch in the coming months. The best is yet to come. The Moroccan fintech space is on the brink of a major boom 👊🏽 👊🏽 👊🏽 Chari | YC S21 | Ecom and Fintech apps for retailers in Francophone Africa #MadeinMorocco

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In venture capital, what looks like serendipity is often just the inevitable. I met Madhusudanan R back in October 2018 in Mumbai, quite by accident—our paths crossed because he was meeting one of our founders in the same shared office. We got talking about fintech, as you do when you’re both geeky about this field, and something clicked. This wasn’t just any chat; it was the start of something big. Madhusudanan R and his co-founders were already laying down the groundwork for what was to become a game-changing fintech stack. We kept in touch, and as their ideas took shape, it was clear they were onto something special. In January 2020, we were the first VC to invest in M2P Fintech's seed round. The trajectory that followed was nothing short of historic. M2P Fintech didn’t just capture the market; it dominated, securing a 97% share in card issuing— a true “winner takes all” scenario. After winning India, they have set their eyes on dominating other emerging markets like MENA, Africa and SEA with their next gen BaaS platform. Exiting a crown jewel like M2P Fintech was a hard decision. However, it was time to pass the torch. Our initial meeting might have been coincidental, but the relationship and friendships forged will outlast any single transaction. M2P Fintech will always be a valued member of the 8i Ventures family. Here’s to new heights, the magic of unexpected opportunities, and the exciting future that lies ahead. Sky’s not the limit; it’s just the view. Godspeed 🚀 Madhusudanan RPrabhu RangarajanMuthukumar A & the entire M2P Fintech family. 8i Ventures Vishwanath V Muskaan Khilnani Yug Shah

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***Roam September 2024 Investor Update*** Strong month of paid member growth and record usage, conversion, retention, & new customer activations. +4.3% paid member growth +9.4% meetings (Record) +5.3% messages sent (Record) 99.1%  Meeting Quality Score (Record) 69% free to paid conversion 70 New Customer Activation Meetings Scheduled (Organic Record)

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🚀 Latest Funding and M&A News in the European Startup Scene! The 🇪🇺 European startup ecosystem continues to thrive with exciting funding rounds and investments across various sectors. Here’s a quick roundup of the some significant deals from the past 10 days. If I've missed some notable ones... add them in the comments 👍 Doccla, "Europe's Virtual Hospital" Raises £35M for Expansion: #Healthtech company #Doccla secured a £35 million Series B funding round, led by Lakestar and joined by General Catalyst, Bertelsmann Investments, Elaia, Speedinvest and Giant Ventures. This investment will accelerate its growth and enhance its offerings in digital health. Skarper Secures £4.5M to Electrify Bicycles: Skarper, a British startup, raised £4.5 million to scale its technology that converts regular bicycles into electric ones. Supported by six-time Olympic champion Sir Chris Hoy, led by Adjuvo with participation from Resillion Chairman Yaron Kottler, Starry Group, and Mobilitech Capital. This funding will drive product development and market reach. #Iceland based, Treble Technologies Raises €11M for #SoundTech: Treble, a company specialising in sound simulation and synthetic audio, raised €11 million to scale its platform. This investment highlights the growing interest in innovative audio tech solutions. The round was led by KOMPAS VC with participation from Frumtak Ventures, the European Investment Bank (EIB), Omega Venture Partners, @St. Gobain and L-Acoustics. Steerlab Secures €1.7M for AI Sales #Automation: Paris-based AI startup #Steerlab raised €1.7 million in a pre-seed round to automate sales workflows, showcasing the strength and potential of AI-driven solutions in the European market. The round was led by Dreamcraft Ventures with participation from HEARTFELT_, @Lumière AI Ventures, and STATION F Leo Capital Launches €25M #Nordic Fund: Singapore's Leo Capital has launched a €25 million fund aimed at Nordic B2B startups, reflecting the increasing cross-border investment activity in the #Europeantech ecosystem. Tiptapp goes for €1M debt option from Gilion for Recycling Innovation: Swedish startup #Tiptapp, focused on making recycling easier will use the capital to expand its services and further its environmental impact. These funding activities underscore the diverse and dynamic nature of Europe’s startup scene, particularly in healthtech, AI, sustainability, and niche technology sectors. For startups looking to scale, these trends highlight the importance of innovative solutions and strategic growth. #StartupFunding #VentureCapital #AI #HealthTech #Sustainability #B2B #ScaleUps #P2 #Singapore

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#EuropeVC contact list. 360+ VC firms, 2600+ VC Partners, Principals and 2200 Emails. https://payhip.com/b/QfBq3 #startup #startups #vc #venturecapital #funding

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#EuropeVC contact list. 360+ VC firms, 2600+ VC Partners, Principals and 2200 Emails. https://payhip.com/b/QfBq3 #startup #startups #vc #venturecapital #funding

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#EuropeVC contact list. 360+ VC firms, 2600+ VC Partners, Principals and 2200 Emails. https://payhip.com/b/QfBq3 #startup #startups #vc #venturecapital #funding

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