Five Seasons Ventures

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Five Seasons Ventures

Five Seasons Ventures

@FiveSeasonsVC

Venture Capital fund focused on Foodtech innovation in Europe

Paris, France Bergabung Mart 2018
65 Mengikuti449 Pengikut
Five Seasons Ventures
Five Seasons Ventures@FiveSeasonsVC·
We may debate if red meat is good or bad for you. There is no debate about alcohol. And yet, there is a whole conference in London about the rise of LO & NO Alcoholic beverages - register and join @ivanfarneti on the investor panel on November 17 #speakers" target="_blank" rel="nofollow noopener">lonobeveragesummit.com/events/lo-and-…
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Five Seasons Ventures
Five Seasons Ventures@FiveSeasonsVC·
@fdestin @fdestin what can we learn from this? is there an equivalent success story in Europe or US? We have a few physical product companies that could explore this as a new distribution channel (thanks for sharing!)
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Five Seasons Ventures
Five Seasons Ventures@FiveSeasonsVC·
@fdestin @sequoia Thanks @fdestin for sharing. Super complex at micro level for sure, but (to check that I got it) isn't this like a mass secondary purchase of your own funds? New LPs (above) replace all LPs in the existing funds. Longer runway happens as a default. (Genius move, btw)
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Fred Destin
Fred Destin@fdestin·
4/ my mind is mildly blown by how complex the whole scheme must be. Kudos to @sequoia for figuring a way to achieve firm wide alignment , and founder alignment.
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Five Seasons Ventures
Five Seasons Ventures@FiveSeasonsVC·
@surangac I fully subscribe to this. High fix and equity alignment (through carried interest, for our own industry).
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Suranga Chandratillake
Suranga Chandratillake@surangac·
I hate bonuses. Dynamic jobs create complicated admin for managers, intent get 'gamed' and a low score means you have a bigger problem! And if you give <100% people get demoralised so you never do. Waste of time. Base salary plus vesting equity. Commissions for sales. Period.
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Five Seasons Ventures
Five Seasons Ventures@FiveSeasonsVC·
@fdestin @CazooUK sales of new cars in France is down 33% this year. Clearly, second hand cars are hot now. Value for money.
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Fred Destin
Fred Destin@fdestin·
.@CazooUK 🚗 Q2 results are 🔥 - 10.7K cars sold (4.3X yoy) - £140M in revenues (6X yoy) - Gross Profit per unit £460 (up from £143 in Q1) - 2,250 jobs On track to hit c. $1BN in revenues this year. On track for the $7BN AJAX 1 SPAC, now SEC approved.
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Fred Destin
Fred Destin@fdestin·
2020’s Peak VC Layer Cake: SPVs on the Opportunity Fund startups that came out of the Core Fund that were discovered by the Scout Programme Bonus points if you get both fees and carry on all of the above 🤷‍♂️
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Five Seasons Ventures
Five Seasons Ventures@FiveSeasonsVC·
@fdestin I though your statement was quite obvious in this market when the best deals seem to get pre-empted before a structured process starts. But you got some funny comments back amigo... 🤪
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Fred Destin
Fred Destin@fdestin·
The hottest deals don’t have decks.
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Five Seasons Ventures
Five Seasons Ventures@FiveSeasonsVC·
@fdestin And they add a lot of value, as measured by what the founders say (not self-proclaimed ...)
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Fred Destin
Fred Destin@fdestin·
“Retired” execs who run 4-5 highly engaged investment projects in parallel and invest at a slow and measured pace in founders they love are my favourite kind of VC :-)
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Fred Destin
Fred Destin@fdestin·
1/ Cazoo has signed a merger agreement with $AJAX for a $7BN NYSE Listing $AJAX is led by legendary investors Dan Och (joining the board) & Glenn Fuhrman; its board consists of Kevin Systrom (Instagram), Anne Wojcicki (23andMe), Jim McKelvey (Square) & Steve Ellis (Chipotle).
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Five Seasons Ventures
Five Seasons Ventures@FiveSeasonsVC·
@fdestin @fdestin i agree with the argument as a whole. It is then the duty of Series A funds to implement it, as it creates the precedent for Series B investors. If there is 1x on the A's, there will inevitably be on the B's. If there is no 1x on the A's there still may be 1x on the B's
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Fred Destin
Fred Destin@fdestin·
4/ Preferences only drive returns in low value outcomes. But they crush the common, leaving no value on the table for those who built the business. The funds don't really care that much, as the outliers drive the vast majority of the returns. Asymmetrical and unjust, IMO.
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Five Seasons Ventures
Five Seasons Ventures@FiveSeasonsVC·
***BREAKING PORTFOLIO NEWS*** Cortilia raises €34m in Series C financing led by Diesel founder Renzo Rosso to further drive sustainability through its food supply chain (and becoming a B-Corp). Well done to the @cortilia team growing 3x in one year! tech.eu/brief/cortilia…
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