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Boost VC had a good year, wanted to write some thoughts.
Boost VC is on a mission to accelerate the Sci-Fi Future, and we do that by investing in deeply committed founders, building enduring companies on the fringe of what is possible. We invest first, we believe first.
When Boost VC set out to raise our first institutional fund it was met with institutional skepticism. I had potential investors leave the room after 5 minutes in meetings, hand me off to someone who was less relevant to the decision, trivialize everything about crypto or VR and mostly ask me if they could connect with my Dad. To be fair, my dad is the GOAT of VC, so I get it. Still this time period was very frustrating, and pivotal for Boost VC. I met with 300 investors to raise this $38m fund. When my grandpa heard how many fundraising meetings I had done, he replied:
“Maybe you’re doing it wrong.”
In this fund, we ended up taking money from my cousins, my aunt, my grandpa, my parents, family friends, my friends, some VCs and one institution of whom I will be eternally grateful to no matter what. They said yes!!!
When I accepted money from my cousin, I realized “holy crap, now I have to make him money.” Nothing like accepting money from your family to establish your own convictions. Something about taking money from family makes money management real.
My Dad once told me,
“There’s an inverse correlation between how hard a fund is to raise, and how great the returns are.”
And I believe my response was:
“Well, I could do with lower returns and an easier fundraise.”
This year is our first year that we were able to return more capital than we raised — and sending money back to LPs is way more fun than receiving it :) We delivered on our promise. We did what we said we would do, and that resulted in a strong year of returns.
Last night the team at Boost VC celebrated with a holiday dinner. I’m very proud of our team and what we have accomplished. Everyone’s commitments and accomplishments over the last few years has contributed to this success. And to be fair, we feel like we are at the starting line. We have a long way to go before Sci-Fi is a reality… I’m not flying to work in an Iron Man suit yet, nor do I live on an ocean city.
Thanks Boost VC team and partners for making it all possible! YOU ARE ALL THE GREATEST HUMANS ALIVE!!!!!