Summary

In discussion with Nick Telson-Sillett, founder of trumpet, with Fred Soneya, an operator turned VC, discusses his approach to pre-seed investing and what he looks for in early-stage companies. He focuses on investing in businesses that have identified a pain in the present and are starting to identify a buyer who is willing to pay for a solution. Fred emphasizes the importance of understanding the market, defining the ideal customer profile, and having a revenue-driven mindset. He also discusses the value of vertical SaaS companies and the need for innovation and go-to-market strategies. When evaluating founders, Fred looks for grit, determination, and a deep understanding of their business. He advises founders to approach relevant funds with personalized outreach and to create pitch decks that are short, aesthetically pleasing, and designed to generate intrigue.

Takeaways

Invest in businesses that have identified a pain in the present and are starting to identify a buyer who is willing to pay for a solution.

Understand the market, define the ideal customer profile, and have a revenue-driven mindset.

Vertical SaaS companies offer value by going deep into a specific industry and becoming the fundamental platform for that vertical.

Grit, determination, and a deep understanding of the business are key qualities to look for in founders.

Approach relevant funds with personalized outreach and create pitch decks that are short, aesthetically pleasing, and designed to generate intrigue.

Sound Bites

"Investing in businesses that have identified a pain in the present."

"Vertical SaaS is about going deep into a domain and building an end-to-end SaaS product for that market."

"Gritty founders who understand their business end to end."

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