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Michael Nicklas on What Valor Capital Looks for in a Startup Founding Team

July 22, 2016

Michael Nicklas, Partner at Valor Capital, and Andy Tsao, Managing Director of Silicon Valley Bank, discuss the need for empathy in the founding team of a startup during the LAVCA Venture Investors Brazil Peer Exchange in May 2016 at Google in São Paulo, Brazil.

Empathy is one of the things we value a lot

This content is made possible with support from Omidyar Network and Telefonica Open Future_.

Telefonica Omidyar

TRANSCRIPT

  • English
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Andy Tsao: You mentioned spending at least some significant time with the founders (of a startup) being a part of your due diligence. What other characteristics do you look for in any founding team? Do you guys have a process in terms of evaluating that as you do your diligence?

Michael Nicklas: No, I don’t think we have any special sauce or magic to what we do. We like to talk to people who know that person and people who know the person from different angles. I like interacting with people, going out with them, just going out to dinner, going out for drinks and seeing how they engage with people.

Empathy is one of the things that we value a lot, the ability to be able to read how other people are feeling about a specific situation, whether it’s your client or an end user, a client, a business partner, or your employees. The ability to understand what’s going through the head of another person we think is really significant.

People who are dismissive with wait staff and other types of things tends to be a red flag. If you’re not able to treat people in different social positions in a fair or dignified way, that’s a red flag.

Andy Tsao: Usted mencionó que invertir al menos algo de tiempo significante con los fundadores hace parte de su debida diligencia. ¿Qué otras características busca en cualquier equipo fundador? ¿Tienen un proceso en términos de evaluar eso al hacer su diligencia?

Michael Nicklas: No, no creo que tengamos algo especial o alguna clase de magia para lo que hacemos. Nos gusta hablar con las personas que conocen a esa persona y a la gente que conoce a la persona desde distintos ángulos. Me gusta interactuar con la gente, salir con ellos, ir a cenar, tomar algo y ver como se relacionan con las personas.

La empatía es una de las cosas que más valoramos, la habilidad de poder captar lo que la otra persona siente con respecto a una situación específica, bien sea si es tu cliente o un usuario final, un usuario, un compañero de negocios o tus empleados. La habilidad de entender qué ocurre dentro de la cabeza de otra persona creemos es muy importante.

Las personas que son despectivas con el personal de servicio y con otro tipo de cosas tienden a ser un alerta. Si no puedes tratar a las personas en diferentes posiciones sociales de una manera justa y digna, eso eso es un alerta.

Andy Tsao: Você mencionou que passar um tempo significativo com os fundadores é parte da sua due diligence. Quais outras características você busca em qualquer equipe empreendedora? Vocês seguem algum processo no sentido de avaliá-la durante a due diligence?

Michael Nicklas: Não, acho que não há nada de tão especial na forma como fazemos. Gostamos de conversar com gente que conheça essa pessoa de diferentes perspectivas. Gosto de interagir com as pessoas, de sair com elas, ir jantar, sair por drinks e ver a forma como eles interagem com outras pessoas.

Empatia é uma das coisas que valorizamos muito, a habilidade de entender como as outras pessoas estão se sentindo em relação a uma situação específica, sejam clientes ou consumidores finais, parceiros comerciais ou funcionários. Achamos realmente importante a habilidade de compreender o que está passando pela cabeça das outras pessoas.

Ver pessoas desprezando a equipe que está servindo as mesas e coisas parecidas tende a ser um sinal de alerta. Encaramos como um alerta vermelho quando não se é capaz de tratar pessoas em posições sociais diferentes de forma justa ou digna.

Michael Nicklas on What Valor Capital Looks for in a Startup Founding Team was last modified: May 18th, 2017 by Claudia Rosenbloom
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Methodology

LAVCA’s fourth annual list of Emerging Women Investors in Latin American Tech includes 135 junior- and mid-level investment professionals from Latin America-based firms, as well as from global firms with Latin America-dedicated investment teams.

Every year since 2016, LAVCA solicits nominations of top women investors in tech from the investment community. In 2018, complementing the peer nomination process, LAVCA reviewed the investment teams of all active Latin American VC funds. Our inaugural list of  Emerging Women Investors in Latin American Tech had 47 investors. The list has been constantly growing – from 87 investors featured in 2019, to 97 in 2020, and to 116 in 2021.

NOMINATE AN INVESTOR

This list is not exhaustive; if you know of a junior- or mid-level investment professional working on Latin American tech deals who should be on this list, contact [email protected]

TOP WOMEN INVESTING IN LATIN AMERICAN TECH

LAVCA’s companion list of Top Women Investors in Latin American Tech includes 140 senior-level women investment professionals who are deploying capital in early and growth stage tech deals.

About LAVCA

 

LAVCA is the Association for Private Capital Investment in Latin America, a not-for-profit membership organization dedicated to supporting the growth of private capital in Latin America and the Caribbean through research, education, networking and advocacy.

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