Episode: AI028: How to Build a Successful Investment Thesis with Shane Spencer


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AI028: How to Build a Successful Investment Thesis with Shane Spencer

Shane Spencer is an independent fund manager and capital formation consultant. As an independent fund manager, Shane assists management teams and founding partners in developing their investment thesis and strategy, capital formation, and much more. Today, Shane and Tatyana discuss his personal investment thesis and the various investing options that are available to new and upcoming angel investors.

Show Highlights

  • 01:55 - How did Shane get started?
  • 04:50 - What is Shane's investment thesis?
  • 06:40 - What is your risk tolerance?
  • 08:15 - How does Shane define passive vs. active investment?
  • 11:50 - Why is it harder to be passive in the early investment stage for an angel investor?
  • 12:15 - It takes a core group of champions for a startup to succeed.
  • 13:45 - Shane and his team take an active role in promoting those champions.
  • 13:55 - What does Shane recommend as an investment thesis to newer angels?
  • 14:30 - How can angels increase their social capital and become a value investor?
  • 15:45 - It seems to Tat that marketing is the biggest thing that startups are struggling with.
  • 16:10 - Why you need to find out who are the core champions of the startup you're investing in.
  • 16:50 - Let's talk risk tolerance.
  • 20:35 - Be prepared for a long investment game.
  • 22:00 - Shane firmly believes diversification is needed in an early stage investment portfolio.
  • 23:15 - Learn from other people's investment thesis and determine what's a good portfolio mix for yourself.
  • 23:50 - Tat encourages new angels to join a local angel group to get guidance from those who are more experienced.
  • 25:55 - Shane recommends reading a lot of books such as The Lean Startup.
  • 28:55 - Shane gives shout outs to some of his favorite startups.

FULL SHOW NOTES: http://angelinvestingpodcast.com/028

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