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How to:
Build an Investment Thesis
Pedro Torres-Picón
Founder, Quotidian Ventures
Pedro Torres-Picón @pedrotp
What’s a thesis?
the·sis - /ˈTHēsis/
noun
a statement or theory that is put forward
as a premi...
Pedro Torres-Picón @pedrotp
What do you invest in?
Pedro Torres-Picón @pedrotp
What type of investor are you?
Opportunistic
vs
Sector/Trend Focused
vs
Thesis Driven
Pedro Torres-Picón @pedrotp
Opportunistic
Sector/Trend Focused
Thesis Driven
What type of investor are you?
Pedro Torres-Picón @pedrotp
What’s your thesis?
Ask yourself
two questions...
Pedro Torres-Picón @pedrotp
Q1: What do you invest in?
“In investing, you want to stick to the things that
you’re best sui...
Pedro Torres-Picón @pedrotp
Q2: What do you believe?
“What do you strongly believe that very few
people agree with you on?...
Pedro Torres-Picón @pedrotp
Quotidian invests in...
Companies transforming
large, old-school industries
with software.
Pedro Torres-Picón @pedrotp
… and we believe
Founder/Market Fit is the most
important quality to look for in
founders in t...
Pedro Torres-Picón @pedrotp
Why have a thesis?
Pedro Torres-Picón @pedrotp
“Regardless of whether you are Dave McClure or Union
Square Ventures, you need an investment t...
Pedro Torres-Picón @pedrotp
Why have a thesis?
Reason #1:
Your thesis is your marketing
strategy
Pedro Torres-Picón @pedrotp
Why have a thesis?
Reason #2:
Focus and discipline make you a
better investor
Pedro Torres-Picón @pedrotp
Why have a thesis?
Reason #3:
Your domain expertise will add
value to your companies
Pedro Torres-Picón @pedrotp
Why have a thesis?
Reason #4:
You will build a network of like-
minded people
Pedro Torres-Picón @pedrotp
OK, I have a thesis
Now
what?
Pedro Torres-Picón @pedrotp
You should stick to it
”Once you have a thesis, you need to stick to it. There are
all kinds o...
Pedro Torres-Picón @pedrotp
But know when to evolve it
”Strong opinions, weakly held.”
- Paul Saffo, Institute for the Fut...
Pedro Torres-Picón @pedrotp
And have an Anti-Thesis!
One thing I learned from a smart VC friend who does thesis
driven inv...
Pedro Torres-Picón @pedrotp
Further reading...
Fred Wilson’s Blog - avc.com
Brad Feld’s Blog - feld.com
Dave’s Moneyball T...
THAT’S ALL!
Email me:
p@quotidian.co
Follow me:
@pedrotp
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[PREMONEY MIAMI] Quotidian Ventures >> Pedro Torres-Picón, "How To : Build an Investment Thesis"

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Pedro Torres-Picón
Founder & Managing Director, Quotidien Ventures
@pedrotp

Veröffentlicht in: Investorbeziehungen
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[PREMONEY MIAMI] Quotidian Ventures >> Pedro Torres-Picón, "How To : Build an Investment Thesis"

  1. How to: Build an Investment Thesis Pedro Torres-Picón Founder, Quotidian Ventures
  2. Pedro Torres-Picón @pedrotp What’s a thesis? the·sis - /ˈTHēsis/ noun a statement or theory that is put forward as a premise to be maintained or proved
  3. Pedro Torres-Picón @pedrotp What do you invest in?
  4. Pedro Torres-Picón @pedrotp What type of investor are you? Opportunistic vs Sector/Trend Focused vs Thesis Driven
  5. Pedro Torres-Picón @pedrotp Opportunistic Sector/Trend Focused Thesis Driven What type of investor are you?
  6. Pedro Torres-Picón @pedrotp What’s your thesis? Ask yourself two questions...
  7. Pedro Torres-Picón @pedrotp Q1: What do you invest in? “In investing, you want to stick to the things that you’re best suited to do, where you’re the very best firm possible.” - Ben Horowitz, A16Z
  8. Pedro Torres-Picón @pedrotp Q2: What do you believe? “What do you strongly believe that very few people agree with you on?” - Peter Thiel, Founders Fund
  9. Pedro Torres-Picón @pedrotp Quotidian invests in... Companies transforming large, old-school industries with software.
  10. Pedro Torres-Picón @pedrotp … and we believe Founder/Market Fit is the most important quality to look for in founders in this space.
  11. Pedro Torres-Picón @pedrotp Why have a thesis?
  12. Pedro Torres-Picón @pedrotp “Regardless of whether you are Dave McClure or Union Square Ventures, you need an investment thesis and you need to stick to it. And I believe that you need to make it public, articulate it well, and make sure everyone, particularly your target entrepreneurs, know what it is and why.” - Fred Wilson, Union Square Ventures
  13. Pedro Torres-Picón @pedrotp Why have a thesis? Reason #1: Your thesis is your marketing strategy
  14. Pedro Torres-Picón @pedrotp Why have a thesis? Reason #2: Focus and discipline make you a better investor
  15. Pedro Torres-Picón @pedrotp Why have a thesis? Reason #3: Your domain expertise will add value to your companies
  16. Pedro Torres-Picón @pedrotp Why have a thesis? Reason #4: You will build a network of like- minded people
  17. Pedro Torres-Picón @pedrotp OK, I have a thesis Now what?
  18. Pedro Torres-Picón @pedrotp You should stick to it ”Once you have a thesis, you need to stick to it. There are all kinds of temptations that come along to invest outside of the core investment thesis. You have to resist them. Discipline is about sticking to what you know and what you believe in totally and completely.” - Fred Wilson, Union Square Ventures
  19. Pedro Torres-Picón @pedrotp But know when to evolve it ”Strong opinions, weakly held.” - Paul Saffo, Institute for the Future
  20. Pedro Torres-Picón @pedrotp And have an Anti-Thesis! One thing I learned from a smart VC friend who does thesis driven investing: if you have a thesis, you also need to have an anti-thesis. It's a good discipline to make sure you are really taking a position and not just adopting a theme. - Chris Dixon, A16Z
  21. Pedro Torres-Picón @pedrotp Further reading... Fred Wilson’s Blog - avc.com Brad Feld’s Blog - feld.com Dave’s Moneyball Thesis: bit.ly/davesthesis
  22. THAT’S ALL! Email me: p@quotidian.co Follow me: @pedrotp

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