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Antoine Nussenbaum

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25
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2015-11-02
most recent
2015-11-02
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1
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  1. “We've been growing a lot in the last few years with very little money. There's still a lot to do and it might end up being one of the positions we're going to hold for the longest in the fund, but we are truly passionate about what they are building.”

    2015-11-02 · The Twenty Minute VC · 20 VC 084: Meet Felix Capital: A Venture Firm For The Creative Class with Antoine Nussenbaum · IDENTIFIED FROM THE TRANSCRIPT · source

  2. “I think it's going to be again La Rouche, La Rouche Kidiwi. It's again called the Food Assembly in the UK. So it's a food marketplace. It's an investment we did with Union Square Venture and Fred Wilson. It's basically a marketplace where connecting food producers and farmers straight to the consumers. But there's a very strong community element to it with host, basically hosting once or twice a week these assemblies for consumers to be able to collect the food they have ordered online straight to a farmers, but also to interact with the farmers themselves. We really like this business because it's a good illustration of our positioning with Felix. Obviously, it's the theme of eating better. It's a market-based model. It's really entrepreneurs that really feel on a mission.”

    2015-11-02 · The Twenty Minute VC · 20 VC 084: Meet Felix Capital: A Venture Firm For The Creative Class with Antoine Nussenbaum · IDENTIFIED FROM THE TRANSCRIPT · source

  3. “In order to actually drive a better economic growth and ultimately have the capital and the wealth a bit more spread out.”

    2015-11-02 · The Twenty Minute VC · 20 VC 084: Meet Felix Capital: A Venture Firm For The Creative Class with Antoine Nussenbaum · IDENTIFIED FROM THE TRANSCRIPT · source

  4. “And I just think, and it's funny because at the discussion about this this weekend with one of our entrepreneurs, and it just gives you a very blunt image of what it takes to be this type of guy that can do a business from A to Z and how to scale and all what you're going to be going through being the good times and the bad times. So I think it's a great source of inspiration. On the more patriotic side and less VC focus, there's a book called Capital in the 21st Century from Thomas Piketty. I haven't finished it yet. It's 700 pages, but I'm quite consistent in reading a few pages every week. But I really like the angle. So it's really about the relationship between capital or wealth and the economic growth. And one interesting conclusion of that is actually technology can be a driver.”

    2015-11-02 · The Twenty Minute VC · 20 VC 084: Meet Felix Capital: A Venture Firm For The Creative Class with Antoine Nussenbaum · IDENTIFIED FROM THE TRANSCRIPT · source

  5. “My favorite book a favorite, but I recently finished a classic in the VC space. It's the hard thing about hard things on Ben Horitz.”

    2015-11-02 · The Twenty Minute VC · 20 VC 084: Meet Felix Capital: A Venture Firm For The Creative Class with Antoine Nussenbaum · IDENTIFIED FROM THE TRANSCRIPT · source

  6. “Yes, I do. I don't communicate so much about it, but yes, I do. I'm a big yoga and practicer and I do meditate also. benchmark at space so I use it but not only headspace”

    2015-11-02 · The Twenty Minute VC · 20 VC 084: Meet Felix Capital: A Venture Firm For The Creative Class with Antoine Nussenbaum · IDENTIFIED FROM THE TRANSCRIPT · source

  7. “We love Marketplace and myself specifically too. But now right now the themes we're spending most of our time are around well-being, around food, and also the mindfulness sector and the active wear. So it's a lot of things around the lifestyle, again, but there's definitely strong trends or hype around the food side and eating better, having a better life and so on. And this is themes that we are following closely at Felix.”

    2015-11-02 · The Twenty Minute VC · 20 VC 084: Meet Felix Capital: A Venture Firm For The Creative Class with Antoine Nussenbaum · IDENTIFIED FROM THE TRANSCRIPT · source

  8. “There's obviously the typical usual blogs, but I really like what Product Hutt has been doing, and it's very same thing, this newsletter every day. I end up being 15 minutes of distraction at least”

    2015-11-02 · The Twenty Minute VC · 20 VC 084: Meet Felix Capital: A Venture Firm For The Creative Class with Antoine Nussenbaum · IDENTIFIED FROM THE TRANSCRIPT · source

  9. “I'm a huge Fred Wilson fan, I have to say, and obviously the ABC, which is kind of a classic. I just love the consistency every day, whatever happens, you will get your email and it's always straight to the point. So I really like him, and I have to say we were lucky enough to do one of our first investments alongside him as co-investors in La Rouche of the Food Assembly. It was great to be able to experiment this style.”

    2015-11-02 · The Twenty Minute VC · 20 VC 084: Meet Felix Capital: A Venture Firm For The Creative Class with Antoine Nussenbaum · IDENTIFIED FROM THE TRANSCRIPT · source

  10. “That was the great thing of storing a new VC. We could spend quite some time thinking about that. On the CRM side, we started with RelayIQ. Sadly, we got bought out by Salesforce and they decided to discontinue their European clients, which was a bit annoying. We moved to Streak. It's a bit simpler, but we've been very happy so far. We obviously big Slack users and trying to build right now a lot of Slack boat. And on the node side, I tend to use Evernote and also Pocket a lot.”

    2015-11-02 · The Twenty Minute VC · 20 VC 084: Meet Felix Capital: A Venture Firm For The Creative Class with Antoine Nussenbaum · IDENTIFIED FROM THE TRANSCRIPT · source

  11. “I'm not sure that the millennial has per se less loyal. I think the focus has shifted from traditional brands to digital brands. And typically digital brands end up being much more agile, much more tech savvy that knows how to use the new channel available, being obviously Facebook, but now Instagram, Snapchat, and so on. These rents typically are whatever happened, yes, there will be more text savvy, but they still have to recreate this environment, this universe that consumers will understand. It gets sticky too. I just have in mind a brand that I've been found very fascinating in this space is, for example, the Bevik Soup brand called Triangle that has been doing most of his growth through Instagram and now selling millions and millions of Of bathing suit just by a clear Instagram strategy”

    2015-11-02 · The Twenty Minute VC · 20 VC 084: Meet Felix Capital: A Venture Firm For The Creative Class with Antoine Nussenbaum · IDENTIFIED FROM THE TRANSCRIPT · source

  12. “What we hope to do with Felix, but there's definitely much more companies, startups to back in the ecosystem than we used to have in 10 years ago.”

    2015-11-02 · The Twenty Minute VC · 20 VC 084: Meet Felix Capital: A Venture Firm For The Creative Class with Antoine Nussenbaum · IDENTIFIED FROM THE TRANSCRIPT · source

  13. “It's definitely a better cycle to raise money, but it used to be a few years ago. I think different drivers are explaining this. I think the market and our LPs could clearly recognize that there's a rise of European entrepreneurship with a lot of successes coming from Europe in the last few years. And to be frank, they just, yes, there's much more new VCs coming in the market in the UK. We've seen a few last year with Arcef, Mosaic, and so on. And they will be much more in the next few months. But there's also much more companies to back. It costs much less to launch a business. The entrepreneurs are younger. They are more tech savvy. They know the playbook. So the main issue is you still have to back the right person.”

    2015-11-02 · The Twenty Minute VC · 20 VC 084: Meet Felix Capital: A Venture Firm For The Creative Class with Antoine Nussenbaum · IDENTIFIED FROM THE TRANSCRIPT · source

  14. “There's different elements to this. I don't know if it's properly edge, but definitely Europe has a very strong heritage in specific sectors that are a big focus for us and specifically around fashion and luxury, retail and consumer, or even on the media side. On these specific spaces, specific sector, there are some big flagship companies that have been there worldwide reputation and have been there for a very long time, like, I don't know, LDMH or Axis Springer or L'Oreal. But you can see in the last 10 years a lot of new businesses in this specific space that have emerged on the digital side and that are now as global as the previous company and obviously have in mind the lack of Farfetch or Neta Porte. But also, I don't know, Spotify or Supercell or Just Heat, for example”

    2015-11-02 · The Twenty Minute VC · 20 VC 084: Meet Felix Capital: A Venture Firm For The Creative Class with Antoine Nussenbaum · IDENTIFIED FROM THE TRANSCRIPT · source

  15. “No, I don't think it's exclusive actually, to be frank, a lot of our inspiration comes from the US where we have seen a new wave of smaller phone, very lean team in the 50 to 150 million dollar area, very thematic too. Not always with this layer of advisors, but with this, really with this level of being focused on specific theme, agile. And that has been clearly a source of inspiration when we've been thinking about building our platform.”

    2015-11-02 · The Twenty Minute VC · 20 VC 084: Meet Felix Capital: A Venture Firm For The Creative Class with Antoine Nussenbaum · IDENTIFIED FROM THE TRANSCRIPT · source

  16. “One other element we just mentioned earlier is again our thematic approach, our long-term and flexible capital, and finally, and it's quite important element, is our venture advisory team. We have basically 11 guys on board that are, some of them are entrepreneurs we've backed in the past, all of them are actually people we know for a very long time. And they are great operators in all the segments that we actually cover. They are based between San Francisco and Stret themselves up to Hong Kong. And so far, we've done eight deals, five core deals and three seas, and they all, in any circumstances, some of them have been involved being on the sourcing side, the due diligence front, or even investing alongside us.”

    2015-11-02 · The Twenty Minute VC · 20 VC 084: Meet Felix Capital: A Venture Firm For The Creative Class with Antoine Nussenbaum · IDENTIFIED FROM THE TRANSCRIPT · source

  17. “One of our big differentiator might stand on the fact that we have, again, a real focus on the creative side of what people, entrepreneurs build. So we really believe in the power of brands and the power of design and beauty. And we see the technology side as an enabler. We are extremely passionate when it comes to entrepreneurs trying to build an environment around a brand. They have to be definitely tech savvy and use the technology very wisely because we are backing only digital brands. But the brand environment that is being built is something very central to what we do. I think we also try to be very in our style. We tend to be perceived as very entrepreneur friendly and we hoping to be perceived as great partners. All this is actually well summarized in our manifesto on our website and we put quite some thinking around that.”

    2015-11-02 · The Twenty Minute VC · 20 VC 084: Meet Felix Capital: A Venture Firm For The Creative Class with Antoine Nussenbaum · IDENTIFIED FROM THE TRANSCRIPT · source

  18. “The good thing is on our side we have the right size both in terms of monitor to deploy and size of a team to be very disciplined in what we do. There is an element of what you say that we've seen and I think one of the big reasons for this is that a lot of segments are becoming more and more competitive with a lot of great guys, great entrepreneurs and great startup competing against each other and there's a big temptation to create defendability by injecting more money to scale faster and this obviously has been driving the valuation quite high for some of these segments.”

    2015-11-02 · The Twenty Minute VC · 20 VC 084: Meet Felix Capital: A Venture Firm For The Creative Class with Antoine Nussenbaum · IDENTIFIED FROM THE TRANSCRIPT · source

  19. “Having said that, typically our sweet spot will be around Series A and Series B for proprietary type of deals. But the most important thing for us is not really the stage, it's really backing the right person. And same goes for the geographic aspects. We really want our entrepreneurs not to see us as geographic focus fund, but much more thematic one. And we really believe that actually talents can be found anywhere and not on the specific hubs that are very well known in the map. If you look at track record, far-fetched Jos ⁇ Ves.”

    2015-11-02 · The Twenty Minute VC · 20 VC 084: Meet Felix Capital: A Venture Firm For The Creative Class with Antoine Nussenbaum · IDENTIFIED FROM THE TRANSCRIPT · source

  20. “The snapshot is that we are a venture firm investing in digital lifestyle. So the way we define it is we tend to invest at the intersection of creativity and technology. We basically have a passion for brands, typically in the e-commerce side, the media side or the connected life. And we back these brands on one end and the enabling technologies for these brands. So typically e-commerce solutions or tools for the CMO, engagement tools, conversion tools. So there's really a B2C and a B2B element to it. Regarding stages, We tend to say that we are flexible capital. So if you look at what we've done so far, we've been investing from $200,000 to $6 million.”

    2015-11-02 · The Twenty Minute VC · 20 VC 084: Meet Felix Capital: A Venture Firm For The Creative Class with Antoine Nussenbaum · IDENTIFIED FROM THE TRANSCRIPT · source

  21. “Yeah, so originally we were trying to raise $80 million hoping to go to $100 million. And we were very lucky that the fundraising went well. We had investors from US and Europe trusting us and we end up closing the fund at our hard cap set up by our cornerstone investor. And it's indeed $120 million.”

    2015-11-02 · The Twenty Minute VC · 20 VC 084: Meet Felix Capital: A Venture Firm For The Creative Class with Antoine Nussenbaum · IDENTIFIED FROM THE TRANSCRIPT · source

  22. “It's a very good question. One of the big differences with Felix, there's much more money to deploy and ourself, like entrepreneurs with us, have to report to someone. So we have investors that trust us. So we need to be very well-rounded when assessing an opportunity and assess the risk part of it and is much more the risk assessment is much more critical and the level of due diligence that we do is actually much more intense when we do an angel investment simply also that when you do an angel investment by definition it's usually much more earlier stage. And there's much less data to refer to, so you have more backing someone that you believe as a capacity to go all the way through rather than specific metrics.”

    2015-11-02 · The Twenty Minute VC · 20 VC 084: Meet Felix Capital: A Venture Firm For The Creative Class with Antoine Nussenbaum · IDENTIFIED FROM THE TRANSCRIPT · source

  23. “Fred was already kind of starting to think about the Fredix project and we started talking about it for more than a year and basically me tagging along and we end up deciding to do this together in 2014 and here we are.”

    2015-11-02 · The Twenty Minute VC · 20 VC 084: Meet Felix Capital: A Venture Firm For The Creative Class with Antoine Nussenbaum · IDENTIFIED FROM THE TRANSCRIPT · source

  24. “part of GRG partners, which is not a specifically venture fund. And it's at this exact point, actually, that I started to miss a bit the tech side of things. So I helped a few businesses, a few startups to bootstrap, to find FS clients, build the team, raise the first money. One of them is a company called Miracle, which is now one of our largest investment. And another one is Hucketry. It's a business that we launched that my wife launched and I helped to do so. And it's a co-working brand in the UK space and opening a new space at the end of a year on Finchbury Square. And it's by doing this kind of angel deals that I end up doing a seed deal called Jelly Note that with Frederick with a managing partner of FedEx. And that was three years ago.”

    2015-11-02 · The Twenty Minute VC · 20 VC 084: Meet Felix Capital: A Venture Firm For The Creative Class with Antoine Nussenbaum · IDENTIFIED FROM THE TRANSCRIPT · source

  25. “Sure. So in a way, I guess I have a kind of traditional path. I was raised in Paris, but thankfully in an international environment, I did all my education in a bilingual school and after university, both in Paris and a bit in the UK. I then had a couple of years' experience. We launched a software on-demand business with two others of my friends in 2004, which was not scalable at all. And that was the end of this experience. It was still trendy at the time, and then jump into the investment side.”

    2015-11-02 · The Twenty Minute VC · 20 VC 084: Meet Felix Capital: A Venture Firm For The Creative Class with Antoine Nussenbaum · IDENTIFIED FROM THE TRANSCRIPT · source