I generally invest $50-100,000 in seed stage businesses and scale up a bit as the company is later stage. But, I’ve invested less initially (and, also, more). Sometimes I invest with a promise to invest meaningfully more if certain milestones are reached BY ME (surprised this isn’t done more) in terms of the value that I’ve provided–these tend to be in businesses where I see something really special and the founders aren’t ready for venture capital but we need some time together to figure out exactly what that is.
While I love to win (who doesn’t) and am prepared to put in the work to win (that’s the hard part), since I don’t have a fiduciary duty to maximize my returns, my calculation of success includes both quantitative as well as qualitative measures–I’d rather get a 3x and learn something and build strong relationships than generate a 4x and just collect a check. So, I’m really more interested in meeting quality people and learning about innovative ideas that make me feel excited to be a part of the early-stage ecosystem and have the opportunity to be successful in improving people’s lives.
I have a personal interest in marketplaces, SaaS and things that have an impact on people’s behavior or well-being (behavioral science fin tech, healthcare, experience-centric offerings) or productivity (efficiency tools/software which I think of as things that enable people to do things they are already doing but just more simply).