Ep186 – Rohen Sood (General Partner – Reinventure) on the story behind investing in Coinbase

The Startup Playbook PodcastInsights and lessons from the world's best entrepreneurs and investors Twitter Facebook YouTube Instagram Ep186 – Rohen Sood (General Partner – Reinventure) on the story behind investing in Coinbase June 6, 2024 rohitbhargava Podcast My guest for Ep186 of The Startup Playbook Podcast was Rohen Sood. Rohen is a General Partner at the Reinventure Group, a Venture Capital fund with a dedicated focus on Fintech companies. Reinventure raised $150M across 3 funds, with the bank, Westpac, being an anchor LP in the fund to invest into emerging global fintech companies. This led to an investment in Coinbase as part of their $75M Series C raise when the company was just 30 months old and had 2.3M users. Reinventure Fund 1 held 1.2M shares of Coinbase which yielded $546M gross gain. Reinventure sold half its stake, following Coinbase’s IPO in 2021 which provided it’s LP, Westpac, with a $288M gain on the Coinbase investment alone. This is Rohen’s first ever podcast interview and in this wide ranging interview we covered everything from: the benefits and drawbacks from having Westpac as an LP of the fund the story behind their Coinbase investment thematic vs generalist investing Rohen’s personal journey from Investment Associate to General Partner at Reinventure over the last 10 years & much more Timestamps 1:37 Rohen’s background 8:23 The path from engineering to management consulting to venture capital 15:48 The early days of venture capital in Australia 25:29 Thematic vs generalist investing 27:21 Navigating founder/investor dynamics 32:45 Reinventure’s investment into Coinbase 39:47 How he builds conviction in ideas 44:36 How he assesses founders and opportunities 47:03 Rohen’s 10 year journey with Reinventure 55:55 Learnings from going through his first cycle in venture Our partners A big thank you to Simon Cant, Paul Weingarth and Damir Cuca for their help with this interview! Also a big shout out to our partners for the show: Scendar  Scendar is the OG startup accounting firm in Australia catering to all stages of your business’ life. If you’re busy running your startup, you don’t have time to do your own books and forecast. Instead, fully outsource your finance function, giving you time and resources back to focus on what you do best in growing your business. Find out more at Scendar.com Vanta Vanta helps businesses get — and stay — compliant by automating up to 90% of the work for the most in-demand compliance frameworks. And with over 300 integrations, you can easily monitor and secure the tools your business relies on.Join over six thousand fast-growing companies that use Vanta to manage risk and prove security in real time.Startup Playbook Podcast listeners get access to an exclusive offer of USD$1000 off their plans. Head over to vanta.com/playbook to get access to this exclusive discount Links mentioned Rohen’s links Rohen’s LinkedIn Rohen’s Twitter/X Reinventure People mentioned Maxine Minter Paul Weingarth Simon Cant Danny Gilligan Damir Cuca Companies mentioned Blackbird Airtree Square Peg SocietyOne Westpac Coinbase Union Square Ventures Draper Associates Auror Slyp Basiq Feedback/connect/say hello: [email protected]@RohitBhargava7 (Twitter)/rohbhargava (LinkedIn)@rohit_bhargava (Instagram)My Youtube Channel Credits: Music: Paycheck Other channels: Find all of the links for the podcast on Linktree here https://traffic.libsyn.com/secure/startupplaybook/Ep186_-_Rohen_Sood.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. 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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