My guest this week is Alex Mittal, co-founder of Funders Club. Following past guest Jeremiah Lowin, Alex is my second elementary school friend to appear on the podcast—a trend I hope continues.
Funders club is a unique venture firm, because it is build around a network of investors and entrepreneurs who submit deals for consideration and invest together. But as you’ll hear, Alex and his co-founder Boris aren’t just building an open platform for early stage investing: they also then take a very traditional venture approach, making investing decisions themselves when it comes to building a centralized portfolio.
Our conversation is about what Alex has learned investing in almost 300 early stage companies over the past 7 years.
For more episodes go to InvestorFieldGuide.com/podcast.
Sign up for the book club, where you’ll get a full investor curriculum and then 3-4 suggestions every month at InvestorFieldGuide.com/bookclub.
Follow Patrick on Twitter at @patrick_oshag
1:30 – (First Question) – Inception of the Founder’s Club
3:59 – How the process of their platform works
5:40 – Role of the network in Founders Club setup and success
8:26 – What he has learned from all of the data he has access to
16:00 – Early stage investing and finding the sweet spot
22:17 – What makes a really intriguing bad idea
25:23 – Why he remains so excited about Ethereum
31:18 – More bad ideas
37:15 – Thoughts on retail and logistics and how they fit his Venn diagram of boring and crazy
43:13 – Chip and electronic design
45:47 – Companies that are not just increasing efficiencies but actually making foundational changes
52:34 – What does he look for in founders
55:26 – Pivot or Fail
57:05 – Kindest thing anyone has done for Alex