YouSaid · the spoken record

Avi Eyal

lines on the record: 68
first: 2024-07-03
most recent: 2024-07-03
sittings or episodes: 1
sources: podcast

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“I want to be on the beach with my wife, with my grown-up kids, Hannah Arya and Michal, and my two shitsus, Ralph and Charlie.”
2024-07-03 · The Twenty Minute VC · 20VC: Turning a $15M Investment in Monday into $1.5BN in Cash | The Strategy Behind a 37x DPI $45M Fund | The Three Step Process to Selling Positions that has Netted Top Percentile Returns with Avi Eyal, Co-Founder @ Entrée Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“Venture debt, capital raising with no thought about how money gets returned. Most people think capital is sunk cost, almost like a grant, but capital needs to be returned. It's a soft loan”
2024-07-03 · The Twenty Minute VC · 20VC: Turning a $15M Investment in Monday into $1.5BN in Cash | The Strategy Behind a 37x DPI $45M Fund | The Three Step Process to Selling Positions that has Netted Top Percentile Returns with Avi Eyal, Co-Founder @ Entrée Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“Contracted ARR. Folks tell you how they've signed a client, a customer which has given them like 50 users or 50 deals, but that customer represents potentially 500,000 deals or it represents twenty thousand users or something like that. And so they write down the contracted ARR is the sum total of all those users. It's just another community adjusted EBIDAR.”
2024-07-03 · The Twenty Minute VC · 20VC: Turning a $15M Investment in Monday into $1.5BN in Cash | The Strategy Behind a 37x DPI $45M Fund | The Three Step Process to Selling Positions that has Netted Top Percentile Returns with Avi Eyal, Co-Founder @ Entrée Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“So I don't know David's sex personally. I've had one or two interactions with him in the past, but I think that you can point to as being a relationship. But, you know, honestly, for the life of me, I can't work out what he believes America stands for if it stands for even anything. You can't look after your own interests and not understand that the world is connected. You need to find commonality of interests and sometimes to promote others' interests because the net effect down the line is supportive of your interests.”
2024-07-03 · The Twenty Minute VC · 20VC: Turning a $15M Investment in Monday into $1.5BN in Cash | The Strategy Behind a 37x DPI $45M Fund | The Three Step Process to Selling Positions that has Netted Top Percentile Returns with Avi Eyal, Co-Founder @ Entrée Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“Better and helping the army if it needs help. We got to get to the next step, and that's why I say to you, anti-Semitism, the first part of the answer I gave you about Israel's society and the future that we want for our children, you take these three circles and you put them, there's an overlap in the middle somewhere, and we need to find that and you need real leadership and you need real, on both sides, you need real leadership and you need real vision. And it's not clear to me today sitting here what it is. I wish I knew.”
2024-07-03 · The Twenty Minute VC · 20VC: Turning a $15M Investment in Monday into $1.5BN in Cash | The Strategy Behind a 37x DPI $45M Fund | The Three Step Process to Selling Positions that has Netted Top Percentile Returns with Avi Eyal, Co-Founder @ Entrée Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“There has to be a change. Israel has to have fixed borders because set and fixed borders enables you to operate legitimately as a nation state, right? And I think that the Palestinians need real leadership. And I think the world needs to stop using the Palestinians as a scapegoat. And I think that everyone has to be a bit mature and come to agreements, whatever they are, that will promote peace. And I'm a patriot. I believe in my country. I'm a Zionist, and I have to take a stand. And if I don't, who will? And in humanity, humanity's progress is us leaving for the next generation the world which is slightly better than the world we found. That's what we want to do and that's why I hope and others like me help folks and help the vacuees, you know, the hostages, the soldiers families, the building resilience, trying to protect our country.”
2024-07-03 · The Twenty Minute VC · 20VC: Turning a $15M Investment in Monday into $1.5BN in Cash | The Strategy Behind a 37x DPI $45M Fund | The Three Step Process to Selling Positions that has Netted Top Percentile Returns with Avi Eyal, Co-Founder @ Entrée Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“Start of the Holocaust. But Zionism, which is self determination, that's all it is, is just simply a step too far. The antisemitism today is about Israel, is about Jews having a country, Jews having self-determination. There's Lord Rabbasaks, who was one of probably the greatest philosophers of the twenty first century, said that in history hatred starts with the Jews, but never ends with the Jews. Western society needs to get a wake up call. Israel and antisemitism are we the canary in the coal mine, we the front line.”
2024-07-03 · The Twenty Minute VC · 20VC: Turning a $15M Investment in Monday into $1.5BN in Cash | The Strategy Behind a 37x DPI $45M Fund | The Three Step Process to Selling Positions that has Netted Top Percentile Returns with Avi Eyal, Co-Founder @ Entrée Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“So, I think anti Semitism has always been there since literally the birth of Judaism over three thousand years ago. The oldest religion in the world, the oldest nation, living nation which can trace its roots 3,000 years or more. Jews were hated for being Jews. They were hated for being segregated. They were hated for being different. In the Middle Ages, Europeans didn't like to handle money because they thought it was dirty, and so they made the Jews deal with it and then, you know, two hundred years later they say Jews financed the world and, you know, the root of all evil. You know, now what's become is that you hate, not you, that folks hate Jews for having a country, as small as it is. I mean, it's one-tenth the size of the United Kingdom. Out of six, seven billion people around the world, there are maybe 16 million Jews. There are fewer Jews today in the world than there were in the beginning of the Second World War.”
2024-07-03 · The Twenty Minute VC · 20VC: Turning a $15M Investment in Monday into $1.5BN in Cash | The Strategy Behind a 37x DPI $45M Fund | The Three Step Process to Selling Positions that has Netted Top Percentile Returns with Avi Eyal, Co-Founder @ Entrée Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“Movement and kind of the early 60s and things like that. And we need to go back to that. And I think there's a big block of youngsters that can go out and vote. And all this leads to, and that's the first part. The second part is the issue of anti-Semitism. No one around the world likes when a minority group raises its head too much. Minorities are great when they are a minority.”
2024-07-03 · The Twenty Minute VC · 20VC: Turning a $15M Investment in Monday into $1.5BN in Cash | The Strategy Behind a 37x DPI $45M Fund | The Three Step Process to Selling Positions that has Netted Top Percentile Returns with Avi Eyal, Co-Founder @ Entrée Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“I hope they feel that way. I think of Fairamandu. But we need a new generation of leaders. You know, Harry, in Israel, it's a young country. If you look at the bell shape of Israel versus other countries, given the high birth rate in Israel, it's a young country. And so there are two and a half million people, just over a quarter of the population is under the age of is kind of between the ages of 18 and 30. In other words, voters. And they the future. And they can create a new block. Most of the one hundred and twenty members of parliament, members of the Knessed Nisrael, should go home. And like I told you the comment about the kids and wisdom, I think that the older folks like me and others in Israel can provide wisdom and can provide management skill and things like that. But I think the decisions are for the youngsters in Israel to make. It's always been a nation that's driven by the young folks with great vision and great ideals, historically like the Kibutz.”
2024-07-03 · The Twenty Minute VC · 20VC: Turning a $15M Investment in Monday into $1.5BN in Cash | The Strategy Behind a 37x DPI $45M Fund | The Three Step Process to Selling Positions that has Netted Top Percentile Returns with Avi Eyal, Co-Founder @ Entrée Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“Contributions by one segment versus the expectations of another misaligned in Israel, segments of the population. And as a nation, N is being a Jew, I feel we held, I'd like to think we held to a higher standard. And I find that our nation, our ego, our self-interest, coupled with things like corruption, are affecting our daily lives and have been for over a decade. And it's gotten to the situation where government services like education and things like that are breaking down, and that in turn is breaking down our social fabric. And there's enough blame to go around. The biggest consequence of all of this is October 7th. And I really fear that very little has been learnt from the 7th of October and the events leading to 7th of October. We've reached a critical juncture as a society and as a nation, and things need to change. We need to change.”
2024-07-03 · The Twenty Minute VC · 20VC: Turning a $15M Investment in Monday into $1.5BN in Cash | The Strategy Behind a 37x DPI $45M Fund | The Three Step Process to Selling Positions that has Netted Top Percentile Returns with Avi Eyal, Co-Founder @ Entrée Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“Yes. Sean's a wonderful guy. So there's two questions here. The first is the new government that came into power in Israel in 2022 and the events that led to the october seventh Hamas attack on Israel and Hezbollah in the north, which are still in play today. I find that Israel civil society is broken today.”
2024-07-03 · The Twenty Minute VC · 20VC: Turning a $15M Investment in Monday into $1.5BN in Cash | The Strategy Behind a 37x DPI $45M Fund | The Three Step Process to Selling Positions that has Netted Top Percentile Returns with Avi Eyal, Co-Founder @ Entrée Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“No, just be more determined, be more action-orientated where you have an opening put in your diary, don't leave it for, I'll remember. I kind of tell a lot of founders that there's three W's. Who, what, and when? That everything they do has to be who, what and when. When you start a business and when you're running off to your client and all trying to get a customer or trying to develop a feature or everything else, it's very simple. Who's going to do it? What are they going to do? And by when are they going to do it? And if you instill that kind of principle through your managers and they do that to their employees, then the culture that you develop in a business is that much stronger.”
2024-07-03 · The Twenty Minute VC · 20VC: Turning a $15M Investment in Monday into $1.5BN in Cash | The Strategy Behind a 37x DPI $45M Fund | The Three Step Process to Selling Positions that has Netted Top Percentile Returns with Avi Eyal, Co-Founder @ Entrée Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“Mrs Orgood to have, misses are things that it helps shape you, it helps you learn and it helps you and you can't win everything, right? But misses that you learn from, I'll give you two examples. There's one example where at lemonade they had done the A and I remember I was driving home and I was speaking to the founder of lemonade and we didn't do the A and I said to him, well, you know, can I give you a safe? Because we want to be involved with you. We want to be in the business. And he said, John, let's meet and talk about it and I'm open to it. And I said, all right, fine, I'm going, I'm leaving. I'm going overseas. I'm back in a week. You know, we'll set it up. We'll do it. In the rush of things, I forgot and never invested. Learn to lesson from that. Funny enough, it's the same.”
2024-07-03 · The Twenty Minute VC · 20VC: Turning a $15M Investment in Monday into $1.5BN in Cash | The Strategy Behind a 37x DPI $45M Fund | The Three Step Process to Selling Positions that has Netted Top Percentile Returns with Avi Eyal, Co-Founder @ Entrée Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“You know, I think as your kids get a bit older, I've got twins who are now 20 years old and one who's 15. And I think that as they get older, they come to you for wisdom. I'm sure other parents are guilty of this as I am guilty of this, is that unfortunately it takes us time to learn that they're coming to us for wisdom. And many times we inadvertently take it as an opportunity to control. So many times the advice we give them or the things we tell them is more about us controlling to still control them or have some level of control over them versus trusting them that we've instilled the right values in them and hopefully giving some of our wisdom that we've learned over the years.”
2024-07-03 · The Twenty Minute VC · 20VC: Turning a $15M Investment in Monday into $1.5BN in Cash | The Strategy Behind a 37x DPI $45M Fund | The Three Step Process to Selling Positions that has Netted Top Percentile Returns with Avi Eyal, Co-Founder @ Entrée Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“I try to take the good. I hope that one day my kids will come back to me when they're much older and say that we did a good job.”
2024-07-03 · The Twenty Minute VC · 20VC: Turning a $15M Investment in Monday into $1.5BN in Cash | The Strategy Behind a 37x DPI $45M Fund | The Three Step Process to Selling Positions that has Netted Top Percentile Returns with Avi Eyal, Co-Founder @ Entrée Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“I think it comes from my childhood. I think it comes from having very strict parents, having expectations by your parents.”
2024-07-03 · The Twenty Minute VC · 20VC: Turning a $15M Investment in Monday into $1.5BN in Cash | The Strategy Behind a 37x DPI $45M Fund | The Three Step Process to Selling Positions that has Netted Top Percentile Returns with Avi Eyal, Co-Founder @ Entrée Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“In everything. I want to be better in everything. For better or worse, one of my characteristics is that I always think that I'm not good enough and I always have to improve. Where does that come from?”
2024-07-03 · The Twenty Minute VC · 20VC: Turning a $15M Investment in Monday into $1.5BN in Cash | The Strategy Behind a 37x DPI $45M Fund | The Three Step Process to Selling Positions that has Netted Top Percentile Returns with Avi Eyal, Co-Founder @ Entrée Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“38 But the other two funds, a small fund, is $45 million fund, but the other two funds, which are $80 million funds, the DPI is around $566. It's reasonable”
2024-07-03 · The Twenty Minute VC · 20VC: Turning a $15M Investment in Monday into $1.5BN in Cash | The Strategy Behind a 37x DPI $45M Fund | The Three Step Process to Selling Positions that has Netted Top Percentile Returns with Avi Eyal, Co-Founder @ Entrée Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“I hope so. Clearly I'm told not enough, but it's kind of in a public company, they're right at the bottom of the quarterly, they're right there that past performance is no indicator of future returns. So it's easy to sit here and talk about the last 12 years, but keeps me up at night. What's going to happen with the businesses now over the next 10 years? Because we have tens of businesses that are preseed seed and A and they have to get somewhere, right? They have to mature and they have to grow and they have to succeed. You're only as good as your last deal or you're only as good as your next exit, right?”
2024-07-03 · The Twenty Minute VC · 20VC: Turning a $15M Investment in Monday into $1.5BN in Cash | The Strategy Behind a 37x DPI $45M Fund | The Three Step Process to Selling Positions that has Netted Top Percentile Returns with Avi Eyal, Co-Founder @ Entrée Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“Interesting because one of the funder funds looked at our portfolio a couple of years ago and they said to us that they couldn't get us and their rationale was when they put us on their chart of evaluating they said your returns are top fifth percentile VC returns but your losses are private equity losses and they try to argue to us that we actually don't take enough risk Our losses at maturity, in other words, when I tell you we've got three funds that are over ten years old, are two or twelve years old now, 13 years old, and one is about ten years old. And at that stage, you know what the, you've pretty much the loss rate has matured, and the loss rate has been around 15%. One is 12%, the other is 15%.”
2024-07-03 · The Twenty Minute VC · 20VC: Turning a $15M Investment in Monday into $1.5BN in Cash | The Strategy Behind a 37x DPI $45M Fund | The Three Step Process to Selling Positions that has Netted Top Percentile Returns with Avi Eyal, Co-Founder @ Entrée Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“No, I think a good restaurant is you have a few outstanding meals that happen on a night and the bulk of the other meals are good. And that's like a good restaurant. And hopefully only one or two people leave the restaurant.”
2024-07-03 · The Twenty Minute VC · 20VC: Turning a $15M Investment in Monday into $1.5BN in Cash | The Strategy Behind a 37x DPI $45M Fund | The Three Step Process to Selling Positions that has Netted Top Percentile Returns with Avi Eyal, Co-Founder @ Entrée Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“Hundreds of millions, much less. I'll tell you that the next ten investments that were successful didn't equate to the gain on Monday.”
2024-07-03 · The Twenty Minute VC · 20VC: Turning a $15M Investment in Monday into $1.5BN in Cash | The Strategy Behind a 37x DPI $45M Fund | The Three Step Process to Selling Positions that has Netted Top Percentile Returns with Avi Eyal, Co-Founder @ Entrée Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“No, I think it allows you to reset your relationship with the founder and reset their expectations from you as a fund and as a person who's either on their board or person involved in their business. And I think it's important because I think it's important to explain and put your position forward, hear them out and I'm sure that in many times they have their rationale, but it kind of allows you to then be honest with them and move on from that. They don't have to carry it. You don't have to carry it. It's much easier for everyone just being honest.”
2024-07-03 · The Twenty Minute VC · 20VC: Turning a $15M Investment in Monday into $1.5BN in Cash | The Strategy Behind a 37x DPI $45M Fund | The Three Step Process to Selling Positions that has Netted Top Percentile Returns with Avi Eyal, Co-Founder @ Entrée Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“Over the period, we put about four and a half million dollars in, and we lost the money. All of it to the saint. And as an engineer, I fell in love completely with the product and what they were building and robotics. And this was in two thousand ten, 2011. But I didn't have a clue about ag tech. I didn't understand that these robots, they're going to run around, understood they're running around the field and they're moving pots and things and, you know, etc. And I thought, wow, we can do this, you know, and we had LiDARs on these things and LIDARs were like at that time, I think it was the most expensive piece of the robot, I think it was like $12,000 for a LIDAR. Today, a LIDAR can set you back $150 kind of thing. And I fell in love with the product and with the engineering. I completely was green and didn't understand that the founders weren't suited for this. The market wasn't suited for this. And so you learn your lessons as you go along.”
2024-07-03 · The Twenty Minute VC · 20VC: Turning a $15M Investment in Monday into $1.5BN in Cash | The Strategy Behind a 37x DPI $45M Fund | The Three Step Process to Selling Positions that has Netted Top Percentile Returns with Avi Eyal, Co-Founder @ Entrée Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“My biggest loss as an investment was very early on. We invested in a Boston based company called Harvest Automation, a bunch of really clever guys out of iRobot and”
2024-07-03 · The Twenty Minute VC · 20VC: Turning a $15M Investment in Monday into $1.5BN in Cash | The Strategy Behind a 37x DPI $45M Fund | The Three Step Process to Selling Positions that has Netted Top Percentile Returns with Avi Eyal, Co-Founder @ Entrée Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“No, I think it's a great advantage to have as a CO. I don't think that if you can't raise you're not a good CEO. I think there are, depending on the business, again, there are businesses where the primary day to day job is not raising money. The primary day-to-day job is building a product and closing customers. Raising money is a necessary evil that needs to happen every couple of years. So I don't think that.”
2024-07-03 · The Twenty Minute VC · 20VC: Turning a $15M Investment in Monday into $1.5BN in Cash | The Strategy Behind a 37x DPI $45M Fund | The Three Step Process to Selling Positions that has Netted Top Percentile Returns with Avi Eyal, Co-Founder @ Entrée Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“I tend to agree with you. I think there are founders you can't always have everything complete. Everyone's got challenges. Everyone's got weaknesses. You, me, everyone. And so, you know, some founders have a challenge in understanding how to raise money. We've got a founder and he's an ex-Google fellow. He's got 40 patents to his name. Unbelievable guy in terms of the technology side of the business. And he couldn't hire for shit. And what we've done is we've got an organizational development specialist on our team, and she's helped him recruit unbelievable sales, channel, around him. We've got another person on our team who's been very involved in helping him understand how to raise his series A, which he did successfully, but on the basis that we kind of gave him a path and we showed him how to pick which VCs to go to, when to go to them, how to go to them, and he did the work, but there was just that element that added”
2024-07-03 · The Twenty Minute VC · 20VC: Turning a $15M Investment in Monday into $1.5BN in Cash | The Strategy Behind a 37x DPI $45M Fund | The Three Step Process to Selling Positions that has Netted Top Percentile Returns with Avi Eyal, Co-Founder @ Entrée Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“It's great to have founders who don't need you. You know, they come to you for advice every now and again. They know what they're doing and they're building a great business and it's going great. So case in point, when you look at Monday at the beginning, we were very, very involved. And if you look at Monday once it got to the C or DOE, it was a meeting every month or something like that. It just changes. And then they just need course corrections sometimes or a bit of mentorship or a bit of alternative advice. But I think by and large, when you start a business, you can use help. I was the first time founder as well. And I made many mistakes. And the one thing that made me make many mistakes and yet still succeeds was that I had someone with more experience who was a mentor. So I wouldn't be so bold as to say that everyone needs us, but it's good to have a partner along the way.”
2024-07-03 · The Twenty Minute VC · 20VC: Turning a $15M Investment in Monday into $1.5BN in Cash | The Strategy Behind a 37x DPI $45M Fund | The Three Step Process to Selling Positions that has Netted Top Percentile Returns with Avi Eyal, Co-Founder @ Entrée Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“As I said earlier, I think that the Andrisens and the sequoias of this world have become more institutionalized because of the large size of assets they manage. And when you manage tens of billions or hundreds of billions, it's hard to manage single digit millions or ten or twenty million with the same attention and the same oversight that you have on managing a 500 million or a billion dollar position. And I think that therein is the opportunity for Tisanal or boutique or smaller VCs where it does matter to them and a partner can bring the required attention for the required period of time to help you build your business.”
2024-07-03 · The Twenty Minute VC · 20VC: Turning a $15M Investment in Monday into $1.5BN in Cash | The Strategy Behind a 37x DPI $45M Fund | The Three Step Process to Selling Positions that has Netted Top Percentile Returns with Avi Eyal, Co-Founder @ Entrée Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“But you can't control that, right? And you're in the public market, and you can't tell Capital One or any other fund, public fund what to do with their stock. So it's not your opportunity. The point of VC is to get companies to an exit or to get public. The point of a VC is not to, you know, it's venture capital, it's not private equity, it's not long-only funds, it's not hedge funds, it's not asset public asset manager, that's called VC for a reason.”
2024-07-03 · The Twenty Minute VC · 20VC: Turning a $15M Investment in Monday into $1.5BN in Cash | The Strategy Behind a 37x DPI $45M Fund | The Three Step Process to Selling Positions that has Netted Top Percentile Returns with Avi Eyal, Co-Founder @ Entrée Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“It's a public stock. So you have insider information, then you run a risk. The fact that you've known how the company operates in the private sector does not mean that you know how the company trades in a public market, where it's at the whims of trading machines, of hedge funds, of other people that can manipulate the stock price and can move the stock price very easily. When you're a private company and you miss your quarter, it's fine. But when you're a public company and you miss even but one or two percent, you've seen situations where share prices can go down twenty five percent, right? Salesforce.”
2024-07-03 · The Twenty Minute VC · 20VC: Turning a $15M Investment in Monday into $1.5BN in Cash | The Strategy Behind a 37x DPI $45M Fund | The Three Step Process to Selling Positions that has Netted Top Percentile Returns with Avi Eyal, Co-Founder @ Entrée Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“Ben's closest to the scene, but the one thing that I've discussed with Ben and that we've worked on together is the same principle. Luckily for me we're investors in Ben's fund as well, designer fund, which is a great fund. He took our advice well in the”
2024-07-03 · The Twenty Minute VC · 20VC: Turning a $15M Investment in Monday into $1.5BN in Cash | The Strategy Behind a 37x DPI $45M Fund | The Three Step Process to Selling Positions that has Netted Top Percentile Returns with Avi Eyal, Co-Founder @ Entrée Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, there were challenges because how much you could sell. But, you know, so we didn't sell a third at the IPO. We sold, I think it was 10% at the IPO. And then when the lockup expired, it was distribute. It wasn't, oh, the prices at $5 now, $4.50 or $5. It's not at $10. But at $4.50, $5, it was still two and a half billion dollar business.”
2024-07-03 · The Twenty Minute VC · 20VC: Turning a $15M Investment in Monday into $1.5BN in Cash | The Strategy Behind a 37x DPI $45M Fund | The Three Step Process to Selling Positions that has Netted Top Percentile Returns with Avi Eyal, Co-Founder @ Entrée Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“Our competence is getting the business to a place where there's liquidity and it's successful. From that point on, it's someone else's opportunity. We've kept to that, and that's managed to save us, both in the case of Kazoo, where the valuation got to two and a half billion pounds the round before the pre-IPO, and we sold a bunch. And when the company went public, we sold a bit. And when the”
2024-07-03 · The Twenty Minute VC · 20VC: Turning a $15M Investment in Monday into $1.5BN in Cash | The Strategy Behind a 37x DPI $45M Fund | The Three Step Process to Selling Positions that has Netted Top Percentile Returns with Avi Eyal, Co-Founder @ Entrée Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“When we started entree, we put down seven or eight principles. And one of the principles that we put down was how do we not fall in love with the value we see on paper? And so we decided that the minute that the price per share of a current round is, I won't tell you exactly, but six or eight times your price that you came into the round, try seller third. And when you get to the preipo round or in the IPO across that kind of timeframe, try seller third. When the lockup expires after an IPO, sell everything and or distribute the stock. The idea behind it is that in the context of VC where private investors we're not public investors, we're not Goldman Sachs or BlackRock or State Street or etc.”
2024-07-03 · The Twenty Minute VC · 20VC: Turning a $15M Investment in Monday into $1.5BN in Cash | The Strategy Behind a 37x DPI $45M Fund | The Three Step Process to Selling Positions that has Netted Top Percentile Returns with Avi Eyal, Co-Founder @ Entrée Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“We're extremely fortunate and lucky to make $2 million on a deal, one and a half billion on a deal. The point is, for us, it's a passion and for us it's the ability to work hard. And sometimes I'll get a bad rep because sometimes I can be a bit harsh with my founders and things like that. But we live it, we breathe it, we love it, we have passion for it, and we do it out of love. And we think that playing that game with that kind of passion is something that maybe sets us apart from some of the other players. It doesn't make us a pure financial player. We're looking for the business to succeed. We're looking for the business to do well ahead of the financial return we get. We kind of think that if the business succeeds, we'll be okay. A very different approach.”
2024-07-03 · The Twenty Minute VC · 20VC: Turning a $15M Investment in Monday into $1.5BN in Cash | The Strategy Behind a 37x DPI $45M Fund | The Three Step Process to Selling Positions that has Netted Top Percentile Returns with Avi Eyal, Co-Founder @ Entrée Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“We had invested over the period since the beginning of Monday we invested approximately fifteen million dollars. The distribution from that was over one and a half billion dollars.”
2024-07-03 · The Twenty Minute VC · 20VC: Turning a $15M Investment in Monday into $1.5BN in Cash | The Strategy Behind a 37x DPI $45M Fund | The Three Step Process to Selling Positions that has Netted Top Percentile Returns with Avi Eyal, Co-Founder @ Entrée Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“The first eight, nine months of Monday, we didn't have product market fit. I remember we had like six customers and we had six months of cash left. And then there was the breakthrough of hitting product market fit. But then again everyone shied away because of the market segment. They weren't going after enterprise first. And in retrospect, we should have gone after the enterprise maybe a year earlier than we did. But once we started the initial touch points of doing enterprise, then we did the B which Jeff at Insight had the foresight to lead. And it was a runaway success from there. But even going to the C, the D, the E, the big funds, the Teer ones, so to speak, were always elusive. There was always a question. And I think that's how we ended up being such large shareholders of Monday and fortunate enough to be with a business along the way, initially spending a lot of time with the business, but as a guru spending less.”
2024-07-03 · The Twenty Minute VC · 20VC: Turning a $15M Investment in Monday into $1.5BN in Cash | The Strategy Behind a 37x DPI $45M Fund | The Three Step Process to Selling Positions that has Netted Top Percentile Returns with Avi Eyal, Co-Founder @ Entrée Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“No, no, the round was $6 million. I think we wrote one and a half or two million of it. Was a real, you had to get dig around and get like a bit of checks from everyone else to make it happen.”
2024-07-03 · The Twenty Minute VC · 20VC: Turning a $15M Investment in Monday into $1.5BN in Cash | The Strategy Behind a 37x DPI $45M Fund | The Three Step Process to Selling Positions that has Netted Top Percentile Returns with Avi Eyal, Co-Founder @ Entrée Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“So there was a potential Sequoia in Israel doing the A, but I don't want to say what the reasons were. It ended up that we had to step up and make it happen.”
2024-07-03 · The Twenty Minute VC · 20VC: Turning a $15M Investment in Monday into $1.5BN in Cash | The Strategy Behind a 37x DPI $45M Fund | The Three Step Process to Selling Positions that has Netted Top Percentile Returns with Avi Eyal, Co-Founder @ Entrée Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“One and a half million dollars The old good days, and where others around the table didn't see it, I slammed my hand on the table and I said, there's no way I'm putting in a safe, I'll fund you, let's carry on. We're going to build a great business. And I was very involved in kind of the day-to-day almost of the business at some point there. And then if memory serves right, we put another safe in. And then we led the A. Every time, no fun, no tier one or tier two VC wanted to back it. They just didn't see it. There was always the argument of you don't have enough enterprise clients, but this is Yammer or this is Slack or this is this”
2024-07-03 · The Twenty Minute VC · 20VC: Turning a $15M Investment in Monday into $1.5BN in Cash | The Strategy Behind a 37x DPI $45M Fund | The Three Step Process to Selling Positions that has Netted Top Percentile Returns with Avi Eyal, Co-Founder @ Entrée Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“Wonderful I think starting off with Monday, the last business that I built myself was a CES product for the GRC market, governance compliance market, and I wanted to build it very open. But then we were using Microsoft SQL Server, you know, it was the early 2000s, AWS wasn't around. There were so many limitations. And we built a successful business which we sold. But my vision was to build it in such a way that it would start vertical in Jersey but move horizontal to other areas. Ending Monday came along and I saw Monday and in that I saw everything that I wanted to build but fleshed out so much better and no limitations because of AWS and things like that and other VCs, other people saw yammer or slack or something like that and so we were in the first round of Monday.”
2024-07-03 · The Twenty Minute VC · 20VC: Turning a $15M Investment in Monday into $1.5BN in Cash | The Strategy Behind a 37x DPI $45M Fund | The Three Step Process to Selling Positions that has Netted Top Percentile Returns with Avi Eyal, Co-Founder @ Entrée Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“I think I would try Git that founder to understand why I don't like the market. And if I can end that founder chooses a different market, then I'll try back them. Or in some cases, like an in seat geek, they started selling tickets and then they found a wedge of getting in. They bought a company out of Israel called Toptics, which provided software for event spaces and clubs to manage their ticketing. And that wedge got built into a big business. Here again, Monday.com is another one where they went after quite of a general market, right? But they figured out a wedge, and now their big businesses in that is Monday dev, which competes with JIRA and things like that, and Monday CRM, which completes with sales force and pipe driving and things like that. They've built big markets.”
2024-07-03 · The Twenty Minute VC · 20VC: Turning a $15M Investment in Monday into $1.5BN in Cash | The Strategy Behind a 37x DPI $45M Fund | The Three Step Process to Selling Positions that has Netted Top Percentile Returns with Avi Eyal, Co-Founder @ Entrée Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“Competition is great when you're on top, right? But I suppose competitive markets, people invest in those markets many times more vanity than sanities is kind of ruling the investment. Nothing wrong with competitive markets as long as you can have a good handle on your costs and you can win. I mean, if you take a company of ours seat geek as an example, highly competitive market, difficult margins, and yet they've managed to carve out a vertical offering within that market where they've gone deeper into the ticketing systems of the clubs and of the event spaces. They make money on selling tickets, but they do so much better because they're starting to control the ticket generation, the price optimization, you know, all kinds of things like that. So I'm not afraid of big markers, but I'm wary of big markets, which are competitive.”
2024-07-03 · The Twenty Minute VC · 20VC: Turning a $15M Investment in Monday into $1.5BN in Cash | The Strategy Behind a 37x DPI $45M Fund | The Three Step Process to Selling Positions that has Netted Top Percentile Returns with Avi Eyal, Co-Founder @ Entrée Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“It's like Mess of markets are great, but not every market is massive. You find great founders and those great founders are not necessarily running after massive markets. But if that founder and the business opportunity they have can be number one or number two in a smaller market, and when I say number one or two, I mean it in terms of revenue, profit, then people will want it and there'll always be an exit path for it. As I said before, more capital reduces the option. So in massive markets, you have to deploy larger amounts of capital to fund because there are more competitors and other things are happening. But we don't shy away from smaller markets. We want to make sure that you can absolutely be number one or number two in that market. And then you'll get a reasonable return and three reasonable returns make a fund.”
2024-07-03 · The Twenty Minute VC · 20VC: Turning a $15M Investment in Monday into $1.5BN in Cash | The Strategy Behind a 37x DPI $45M Fund | The Three Step Process to Selling Positions that has Netted Top Percentile Returns with Avi Eyal, Co-Founder @ Entrée Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“Think we go at our own pace. Sometimes it's slower, sometimes it's quicker. It's just our own pace. We don't need to build AUM. We don't need to build management fees. So from our perspective as a fund, we focused on the businesses and we don't want to do too many companies at the same time because we find that the more we involved with our core companies, the luckier those companies get.”
2024-07-03 · The Twenty Minute VC · 20VC: Turning a $15M Investment in Monday into $1.5BN in Cash | The Strategy Behind a 37x DPI $45M Fund | The Three Step Process to Selling Positions that has Netted Top Percentile Returns with Avi Eyal, Co-Founder @ Entrée Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“No. Our view is we are one of our own largest LPs. Our personal money is probably first, second or thirds in size in our various funds. And we want to make sure that we invest it correctly. You know, in cricket terms, it's not a one-day game.”
2024-07-03 · The Twenty Minute VC · 20VC: Turning a $15M Investment in Monday into $1.5BN in Cash | The Strategy Behind a 37x DPI $45M Fund | The Three Step Process to Selling Positions that has Netted Top Percentile Returns with Avi Eyal, Co-Founder @ Entrée Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“I think we concentrate in different places at different times from our perspective we like to do the deals that we like. We don't feel that we're burdened by doing fifteen deals or 20 deals in two years and then raising another fund.”
2024-07-03 · The Twenty Minute VC · 20VC: Turning a $15M Investment in Monday into $1.5BN in Cash | The Strategy Behind a 37x DPI $45M Fund | The Three Step Process to Selling Positions that has Netted Top Percentile Returns with Avi Eyal, Co-Founder @ Entrée Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“And I think it sets the business from the start on the wrong path. Now, bear in mind if I'm building the next GPU, my seed round has to be $15 million, a different type of business. But for asset light businesses, for businesses that today you can get MVPs out the door in three months where three or four chaps can sit in a garage and a basement and can write some code and get some POCs with initial clients at very little cost, real cost to themselves, I think that six, eight million dollar rounds is just unnecessary. It's unnecessary risk to take unnecessary dilution to take. I think you can do a heck of a lot more with less.”
2024-07-03 · The Twenty Minute VC · 20VC: Turning a $15M Investment in Monday into $1.5BN in Cash | The Strategy Behind a 37x DPI $45M Fund | The Three Step Process to Selling Positions that has Netted Top Percentile Returns with Avi Eyal, Co-Founder @ Entrée Capital · IDENTIFIED FROM THE TRANSCRIPT · source