264. Starting a Fund w/ Life Savings, Why it Takes More than Just Performance to Find Success, and Sticking to Your Framework (Simeon Iheagwam)

The Full Ratchet (TFR): Venture Capital and Startup Investing Demystified

Simeon Iheagwam of Noemis Ventures joins Nick to discuss Starting a Fund w/ Life Savings, Why it Takes More than Just Performance to Find Success, and Sticking to Your Framework. In this episode, we cover:

• Walk us through your background and path to VC
• What’s the thesis at NOEMIS Ventures?
• What is your process for investing?
• Are there any must-haves?
• Like Brad Feld... you are syndication agnostic... don't care about who else is in the round and you're willing to be the first yes. How do you get to conviction -- especially not having worked for a large VC fund?
• Where do you help your portfolio companies the most?
• In your words... why is it difficult to launch a fund as a diverse manager?
• What were some of the most unexpected and challenging aspects of launching a fund?
• Strangest question you've received from an LP?
• What's your approach to investing in diverse founders?
• You were recently highlighted by Grasshopper Bank and Left Tackle Capital as an extraordinary funder. And I believe you joined their inaugural cohort called the Future Funders Institute? We've seen a few different accelerator-like programs spin up, targeted at emerging GPs. Tell us a bit about the program.
• 3 data points...
• • Let's say you are approached to invest in a Fintech SaaS business with $5k MRR, and 20% MoM growth for the last 3 months. The catch is you can only ask for 3 data points to make your decision.
  • What 3 questions do you ask for?