20VC: Why The Theory of Pro-Rata Can Often Be False, How Rolling Funds Impact Both Pricing 和 Competition 和 The Biggest Takeaways from Jack Dorsey with 阿夫洛克 Kholi, CEO @ AngelList创业
阿夫洛克 Kohli 是...的首席执行官 AngelList创业 它促进了包括47家独角兽在内的5,000多家创业公司的融资，并且拥有4,300家基金和辛迪加，资产管理规模为$ 2.2B。 今年，AngelList Venture推出了备受关注的Rolling Funds和Avlok 最近推出了自己的滚动基金， Avlok 首都。在AngelList之前， Avlok built 和 sold two companies; FastBite, acquired by Square in 2015 和 Fairy, also acquired. If that was not enough, 阿夫洛克 is also an angel in 25 companies.
1.) How 阿夫洛克 made his way into the world of facilitating over $2Bn in AUM having sold 2 prior companies on the other side of the table as a founder? What is 阿夫洛克’最喜欢杰克·多西的故事吗？
2.) Why does 阿夫洛克 believe Rollings Funds are the “创新印刷机” for capital markets? Does 阿夫洛克 believe that everyone should be a fund manager 和 managing capital? What are the benefits of rollings funds vs traditional micro funds?
3.) How does the rise of rolling funds impact the early stage pricing of companies? How does it impact the competitive landscape for seed 和 pre-seed allocations? Is 阿夫洛克 concerned about a wave of undisciplined capital entering the market?
4.) How does 阿夫洛克 evaluate reserve allocations for early stage 和 micro fund managers today? What does the data show for funds that do reserve for pro-rata vs those that do not? How has this impacted 阿夫洛克’自己按比例分配储备的方法？
阿夫洛克’s Favourite Book: 冥想