Episode Summary:
Dan Gavel, founder of Black Sheep Capital Fund and the Flock Syndicate, shares his unique approach to investing and discusses the importance of understanding risk. He emphasizes the need for investors to have the capacity to accept risk and adapt their investment strategies to the changing market. Dan also talks about the benefits of running a fund, a syndicate, and making personal angel investments simultaneously. He explains how he decides which investments go to each channel and the importance of building relationships with founders. Dan believes that being a lead investor is more about post-investment support and guidance rather than pre-investment due diligence. He also shares a personal story of a risky investment that didn't go as planned.
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Chapters:
Understanding risk is more important than trying to fully comprehend it.
The investment landscape is constantly changing, and investors need to adapt their strategies accordingly.
Running a fund, a syndicate, and making personal angel investments simultaneously allows for a more diversified portfolio and greater exposure to the ecosystem.
Being a lead investor is about building relationships with founders and providing post-investment support and guidance.
It’s important to have conviction in an investment and be willing to take risks.
