True Global Ventures & Web3 Investment Outlook in 2023 with Kelly Choo
Kelly Choo, founding partner from True Global Ventures shares his outlook on investments into the web3 & crypto sector in 2023.
Fresh out of the studio, Kelly Choo, the founding partner from True Global Ventures shares the backstory of how the fund came together with its investment thesis on investing in repeat serial entrepreneurs. Kelly begins with the story of his career journey as both an entrepreneur and now as an investor, and how he works with his profile companies. Last but not least, he offers his perspectives on the investment outlook for web3 and crypto companies in 2023.
"I think great looks like a combination of a few things. We always talk about how a startup hits product market fit and then essentially gets a flywheel going in terms of value and everything. So I think 'great' at True Global Ventures from my point of view is us finding that company, that team of serial entrepreneurs and an idea that can essentially change the industry, convincing them that we as a fund can help them to grow exponentially, globally. And us actually helping them to not only close a round with us, but also to grow, and also to close the next round of funding and all subsequent rounds of funding till the ultimate exit. And having that kind of chemistry that maybe after many years later when they come back and look at us they say, 'Hey, thanks for the ride.' We really treasure what you do. And in my new startup, say for example (Because these are serial entrepreneurs that cannot usually sit still, right?) I would love for you True Global Ventures to be our investor again." - Kelly Choo
Introduction
- Kelly Choo, Founding Partner, True Global Ventures (@kellychoo , Linkedin)
- How did you start your career?
- What have you learned most from your different entrepreneurial stints specifically for Brandtology and Neeuro?
- What are the lessons as an entrepreneur that you would draw from your experiences or would have done something differently if it had not worked out?
- What are the important lessons you can share with my audience in your career journey?
True Global Ventures & Web3 Investment Outlook in 2023
- What is the inspiration behind setting up True Global Ventures?
- As a founding partner to the fund, how did you bring together the fund and start investing in companies?
- What is a typical day like for you as an investor of a fund?
- Is there an investment thesis when you first started the fund?
- How do you select founders and startups to invest in?
- Reversing the question, what are the red flags you look out for?
- Can you talk about some of the highlights of your fund, for example, I understand that the fund invested in 2 unicorns: Animoca Brands and Forge.
- Is the funding on the crypto/web3 or metaverse companies intentional and something which the fund has discovered these companies?
- How do you look at web3 or crypto companies with different mechanisms of funding, for example, token, equity or a mixture of both?
- What are your thoughts on NFTs? Are there interesting use cases which you think people have not explored?
- What is your mental model in thinking about the valuation of the companies you invest in?
- What are the other interesting companies on the portfolio which we have not spoken about?
- How do you manage and work with your portfolio companies?
- Coming from an entrepreneurial and operator background, how do you help your companies as a board member?
- How do you work with the LPs of your fund?
- What is your outlook for 2023? [Reference: TGV's 5 web3 Megatrends for 2023]
- What does great look like for True Global Ventures?
Closing
- Do you have any recommendations which have inspired you lately?
- Kelly's recommendations: Conversations with people who shared common goals and ideals, for example, the recent lunch between Kelly and Bernard where they discuss their aspirations, ideas and what they are working on.
- How can my audience find you?