Ep151 – Kylie Frazer (Co-founder & Partner – Flying Fox VC) on term sheets, rolling funds and founder runway

The Startup Playbook PodcastInsights and lessons from the world's best entrepreneurs and investors Twitter Facebook YouTube Instagram Ep151 – Kylie Frazer (Co-founder & Partner – Flying Fox VC) on term sheets, rolling funds and founder runway June 24, 2021 rohitbhargava Podcast My guest for Ep151 of The Startup Playbook Podcast was the Co-founder & Partner of Flying Fox Ventures, Kylie Frazer. Kylie started her career as a lawyer before leaving her legal career to first start an innovation lab for professional services and then a health tech business called Scancheck. After exiting out of Scancheck, Kylie then transitioned over to the other side of the table as an angel investor through her angel syndicate, Eleanor Ventures. She has now teamed up with Rachael Neumann to become the Co-founder and Partner at Flying Fox Ventures. Unlike traditional VC funds, Flying Fox has a unique cohort based model, where they will have a rolling $5M fund that will invest in 10 companies per fund.  Once the capital is deployed, new and existing angel investors are able to buy into the next $5 million fund for the next 10 companies that Flying Fox Ventures will invest in. In this interview we discussed: The difference between the angel investor and VC mindsetThe terms on term sheets that you should pay attention to (and what not to spend time on)The importance of founder runwayThe benefits behind Flying Fox Ventures unique rolling fund model& much more! Timestamps  2.25 – Introduction to Kylie and her background 3.03 – The positive outcome from her first business failing 5.14 – How Kylie met her business partner in business school which lead to her next business ScanCheck6.39 – Why it’s important to learn about being an investor as a founder to better understand what investors are looking for9.40 – Kylie’s learnings as an investor and how they have evolved over time11.19 – What angel investors are looking for in startups to invest in17.38 – How Kylie supports the businesses and investors in her syndicates21.27 –  An investors role in coaching founders and why it is constantly changing 25.18 –  Why raising isn’t always about getting as much capital as possible, but the right amount for what is needed28.09 – The importance of being comfortable investing smaller amounts or through a syndicate 30.25 – The right number of  investors and when to clean up your cap table 32.05 – What Kylies focus is on and what she avoids when investing based on her legal background35.27 – Kylie’s relationship with her co-founder Rachael and why it was important to make sure they were a good match early 37.35 – The safety, support and learning benefits of investing with Flying Fox VC39.41 – What Kylie and Flying Fox VC is looking for in founders and businesses to invest in41.02 – How having an obsession and understanding of customers, can trump reputation or experience in an industry42.18 – The importance of a founders ‘personal runway’ 44.05 – What to expect when applying for Flying Fox VC44.55 – How long the process takes from application to investment with Flying Fox VC46.03 – Building a relationship with investors and why you have to be careful on how you present yourself and your company to investors48.39 – Making an effective pitch deck 49.38 – How to connect with Kylie and Flying Fox VC Links Mentioned  Kylies’ Links: Kylies’ LinkedInKylies’ TwitterFlying Fox Twitter Flying Fox Website Flying Fox Application Form People Mentioned: Jill BerryBen WilliamsonRachael Neumann Companies Mentioned:   Flying Fox Ventures Eleanor VentureAdatree Fresh EquitiesBlackbirdInvestibleRampersandFolkloreAirtreeWorking Theory AngelsStartmate  Past Episodes Mentioned Episode 57 – Rachael Neumann Episode 130 – Rachael Neumann Special Thanks: Special thanks to Ben Williamson and Rachael Neumann for their help with research for this interview! ? Feedback/connect/say hello: [email protected]@RohitBhargava7 (Twitter)/rohbhargava (LinkedIn)@rohit_bhargava (Instagram)My Youtube Channel Credits: Music: Joakim Karud – Dreams Other channels: Don’t have iTunes? The podcast is also available on Spotify, Soundcloud & Stitcher Audio Player. Find all links to the podcast here. https://traffic.libsyn.com/secure/startupplaybook/Ep151_-_Kylie_Frazer_Co-founder__Partner_-_Flying_Fox_VC_on_termsheets_rolling_funds_and_founder_runway.mp3Podcast: Play in new window | Download | EmbedSubscribe: RSS admin January 1, 2014 Reply Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat admin January 1, 2014 Reply Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. 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