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Riverwood Capital + TPG Growth: Capital considerations for making investments

February 6, 2018

Joaquim Lima, Regional Director, Riverwood Capital and Angel Uribe, Senior Advisor, TPG Growth on capital considerations for making investments during the LAVCA Venture Investors Meeting in NYC in September 2017.

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

Telefonica Omidyar

TRANSCRIPT

  • English
  • Spanish
  • Portuguese

Angel Uribe (TPG Growth): From our perspective, capital intensity is not the most challenging thing. It is the return on the investment. TPG has private equity DNA, so looking at the ROI and how you build it throughout the unit economics, and being comfortable that the money that you are investing is going to return the right premium, is critical. I would say it’s one of the most important criteria to make a decision.

Joaquim Lima (Riverwood Capital):  Just to add, we kind of divide the enterprise and consumer. A lot of the consumer investments that we make are more long term in nature, to bear fruition in terms of really being profitable and generating the returns that we expect. In enterprise, like Angel just said, we look at the return profile and unit economics, and I think the cycles are definitely shorter, by nature.

Angel Uribe (TPG Growth): Desde nuestra perspectiva, la intensidad del capital no es lo más desafiante. Es el retorno de la inversión. TPG tiene ADN de private equity, por lo tanto, es fundamental tener en cuenta el ROI y cómo se construye a través de las finanzas individualizadas (unit economics), y sentirse cómodo de que el dinero que se está invirtiendo devolverá la prima correcta. Yo diría que es uno de los criterios más importantes para tomar una decisión.

Joaquim Lima (Riverwood Capital): Solo para agregar, dividimos la empresa y el consumidor. Muchas de las inversiones de consumidor que hacemos son por de naturaleza a más largo plazo, para dar frutos en términos de ser realmente rentables y generar los rendimientos que esperamos. En la empresa, como acaba de decir Angel, analizamos el perfil de rentabilidad y la unit economic, y creo que los ciclos son definitivamente más cortos, por naturaleza.

Angel Uribe (TPG Growth): Da nossa perspectiva, a intensidade de capital não é a coisa mais desafiadora. É o retorno do investimento. A TPG possui DNA de private equity, então, é crítico olhar para o ROI e como você o constrói no unit economics, e estar confortável de que o dinheiro que você está investindo vai retornar o prêmio certo. Eu diria que é um dos critérios mais importantes para tomar uma decisão.

Joaquim Lima (Riverwood Capital): Somente para adicionar, dividimos a empresa e o consumidor. Muitos dos investimentos de consumo que fazemos são mais longos por natureza, para se concretizar em termos de ser realmente rentáveis ​​e gerar os retornos que esperamos. Na empresa, como disse Angel, observamos o perfil de retorno e unit economics, e acho que os ciclos são definitivamente mais curtos, por natureza.

Riverwood Capital + TPG Growth: Capital considerations for making investments was last modified: February 6th, 2018 by Editor
Angel UribeInvestmentsJoaquim LimaLAVCARiverwood CapitalTPG GrowthVCVenture Investors
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  • This is not the first and will not be the last measure that we are going to take. We are serious about changing the rules and having a better environment for entrepreneurship to thrive…

    Riverwood Capital + TPG Growth: Capital considerations for making investments was last modified: February 6th, 2018 by Editor

    –Mariano Mayer
  • We are very careful about not overcapitalizing companies.

    Riverwood Capital + TPG Growth: Capital considerations for making investments was last modified: February 6th, 2018 by Editor

    –Alan Patricof
  • Making an investment decision comes down to the people.

    Riverwood Capital + TPG Growth: Capital considerations for making investments was last modified: February 6th, 2018 by Editor

    –Alex Rossi, Managing Partner, LIV Capital
  • We look at the longevity, the fit, deal attribution by team member. We look at their performance as well as how they focus and what their expertise is…What differentiates them from their peers?

    Riverwood Capital + TPG Growth: Capital considerations for making investments was last modified: February 6th, 2018 by Editor

    –Adam Ritter, Vice President, Harbourvest
  • The most helpful thing that an investor can do for an entrepreneur is connecting them to great people, and then taking them to experts and connecting them to early customers and partners.

    Riverwood Capital + TPG Growth: Capital considerations for making investments was last modified: February 6th, 2018 by Editor

    –Cyrus Massoumi
  • We never do a deal alone, never, not one single deal in our entire portfolio are we the only investor. We always have someone else.

    Riverwood Capital + TPG Growth: Capital considerations for making investments was last modified: February 6th, 2018 by Editor

    –Alan Patricof
  • Empathy is one of the things we value a lot.

    Riverwood Capital + TPG Growth: Capital considerations for making investments was last modified: February 6th, 2018 by Editor

    –Michael Nicklas, Partner, Valor Capital

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