Francisco Amador | Sleepwell

15.5K posts

Francisco Amador | Sleepwell banner
Francisco Amador | Sleepwell

Francisco Amador | Sleepwell

@SleepwellCap

PE & VC at Arqos Capital, a Venezuela-focused fund. Former HF Analyst. Having fun & learning at Sleepwell. Infinitely curious. Take your pleasures seriously.

Miami or Caracas Katılım Kasım 2020
751 Takip Edilen24K Takipçiler
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Francisco Amador | Sleepwell
Francisco Amador | Sleepwell@SleepwellCap·
I'm excited to share that I'm joining Arqos Capital as a Managing Director, to lead their Private Equity and Venture Capital efforts while replanting my roots in my home country – Venezuela. I genuinely believe we’re facing a generational opportunity to rebuild and invest behind Venezuela's upcoming recovery, and few platforms are as well positioned as Arqos. The firm sits in a unique position for this stage as it has been investing in Venezuela since 2019 – a deeply contrarian decision at the time. Over that period, Arqos has built a highly reputable asset management platform, an exceptional team, and a differentiated position in one of the most overlooked markets in the world which now has transformed into a valuable first mover advantage. Today it finds itself at the right place and at the right time. On a personal level, this opportunity is especially meaningful. After 17 years abroad, I’m excited to reconnect with my home country and contribute, in a small way, to this long-awaited reconstruction phase while also helping build the Arqos platform. Sleepwell Capital will remain active as a side-project focusing on selective high-conviction opportunities and a content platform, always using the same filter: looking at and talking about things that fascinate me and drive my curiosity. This is a major (and unexpected) career transition for me after spending over 10 years as a public markets investor, but I couldn't be more excited.
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Francisco Amador | Sleepwell
I had no idea that venture capital was originally called ADVENTURE capital, why did they change the name??
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Chris Waller
Chris Waller@HiddenGemsInves·
What are the best investor letters you have read?
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Francisco Amador | Sleepwell
@john_morgs it’s a history book of Silicon valley from the VC angle, here’s one of them:
Francisco Amador | Sleepwell@SleepwellCap

On 1961, Arthur Rock and Tommy Davis setup Davis & Rock, the first venture capital vehicle as we know it today (GP/LP structure) It promised to make concentrated bets on a dozen or so ventures. What seemed like a reckless idea to modern portfolio theorists was totally sensible to them for two reasons: First, buying just under half of a startup’s equity, the partnership would get a seat on the board and a say in their strategy exercising a measure of control over the assets. Second, they would only invest in ambitious, high-growth companies whose value might jump at least tenfold in 5-7 years. Most startups would fail but the winners would have to win big enough to make the overall portfolio a success. Having discarded conventional investment wisdom they also realized that people, not financials, were all that mattered at this stage. The central principle became “Back the Right People” or as Rock liked to say finding “intellectual book value”. The firm proceeded to make 15 total investments from $3.4 million it raised and in less than 7 years it returned $77 million to its investors, or 22.6X. The fund’s gains came primarily from its investment in Scientific Data Systems (acquired by Xerox eventually) and Teledyne. This opened the floodgates to startup investing and the modern Venture Capital era began. Source: The Power Law by Sebastian Mallaby

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John
John@john_morgs·
@SleepwellCap Are there any good case studies in there?
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Francisco Amador | Sleepwell
On 1961, Arthur Rock and Tommy Davis setup Davis & Rock, the first venture capital vehicle as we know it today (GP/LP structure) It promised to make concentrated bets on a dozen or so ventures. What seemed like a reckless idea to modern portfolio theorists was totally sensible to them for two reasons: First, buying just under half of a startup’s equity, the partnership would get a seat on the board and a say in their strategy exercising a measure of control over the assets. Second, they would only invest in ambitious, high-growth companies whose value might jump at least tenfold in 5-7 years. Most startups would fail but the winners would have to win big enough to make the overall portfolio a success. Having discarded conventional investment wisdom they also realized that people, not financials, were all that mattered at this stage. The central principle became “Back the Right People” or as Rock liked to say finding “intellectual book value”. The firm proceeded to make 15 total investments from $3.4 million it raised and in less than 7 years it returned $77 million to its investors, or 22.6X. The fund’s gains came primarily from its investment in Scientific Data Systems (acquired by Xerox eventually) and Teledyne. This opened the floodgates to startup investing and the modern Venture Capital era began. Source: The Power Law by Sebastian Mallaby
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Francisco Amador | Sleepwell retweetledi
Francisco Amador | Sleepwell
"Many thousands of Costco’s U.S. hourly workers have over $1 million in their 401(k) accounts" – WSJ
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Mokaya
Mokaya@ekmokaya·
France are just too good at this World Cup. Tactically astute, with a deep bench and a lethal attack. Can anyone stop their march?
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Willis Cap
Willis Cap@willis_cap·
Solid list of potential new longs just dropped
Willis Cap tweet media
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Francisco Amador | Sleepwell
@kdan1186 180K hourly workers. couple thousand is not bad for a retailer, can bet you WMT has a lot less. It’s mostly a product of low turnover, stock performance and good benefits.
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Keith Dan, DVM
Keith Dan, DVM@kdan1186·
@SleepwellCap I don’t doubt this is true but many thousands? Is that 8, 10k? Maybe with 500k employees plus that’s top 2% for the company….
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Brandon Beylo
Brandon Beylo@marketplunger1·
This is a great visualization of what investing should look like. Lots of learning, reading, networking, thinking, all of which looks like “doing nothing” because you’re not buying or selling. Then, when the prepared mind meets the opportunity, you attack with ferocity.
iPaul@iPaulCanada

哈兰德逛着逛着就进球了

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