After leaving a small startup and being turned down by every VC firm he applied to, Tim Chen began angel investing and eventually ended up raising his own money.
Now, as an individual investor at Essence VC, he just closed his fourth fund with $41 million “without any effort.” Chen's secret weapon? Be technical enough to discuss implementation details with PhD founders while understanding the market dynamics that transform a humble startup into a category leader.
Today on TechCrunch's Equity podcast, Julie Bort speaks with Tim Chen to explore the rise of individual VCs and who is rewriting traditional venture strategy.
Listen to the full episode to hear:
Why YC's strategy of “revenue at all costs” doesn't work for infrastructure startups, and what Chen told tech founders to focus on instead The strategic takeaways that drove Chen to one portfolio company completely changed its trajectory What being a “small exit founder” taught Chen about venture capital, and why he thinks the industry is backwards
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