EUVC #240 Patrick Murphy, Tapestry VC

Today we have Patrick Murphy with us. Patrick is the co-founder and managing partner at Tapestry VC, a 50m$ seed stage venture fund backing technical and repeat founders across Europe & US. Tapestry VC has its team spread out across the UK and USA.Tapestry VC are investing out of Fund II with a total 100m$ AUM and an established portfolio of over 40 companies and notable investments including Hopin, Pitch, Builder.ai, Nothing and Manna.Chapters:00:00:00 - Introduction of Patrick Murphy and Tapestry VC00:02:40 - From Goldman Sachs to Venture Capital00:04:51 - Reversing Investment and Taking Risks00:07:15 - The Challenges of Merging with a Corporate VC00:09:03 - The Importance of Stewardship in Early Stage Venture Capital00:11:21 - Consumer Innovation and Next Generation Users00:13:50 - The Rise of Gen AI in Revenue Growth00:16:04 - Scaling Software and Hiring Globally00:18:09 - The Benefits of Repeat Founders00:19:53 - Unboxing the new headsets and their features00:21:10 - Investing in Repeat Founders00:23:04 - Building a Strong Network and Fostering Global Relationships00:25:18 - The Reality of Repeat Founders and Dilution00:27:18 - The Advantage of Experienced Founders00:29:25 - Building with Serial Founders and High Velocity Talent00:31:35 - The Value of Co-Investors and Check Sizes00:33:32 - Adding Value through Syndicates00:35:54 - Successful Co-investing and Building Trust00:38:10 - Life is About Picking People00:40:24 - The Importance of Distribution and Telling Your Story00:42:36 - Cultural Differences in Pitching00:44:54 - Pitching Skills in US vs European Investors00:47:11 - Prioritizing Amazing and Ambitious People00:49:38 - The Importance of Luck in Success