Podcasts · VC10X - Investing, Venture Capital, Asset Management, Family Office, Wealth Management
VC10X - Investing $80 Million in AI Startups - Elizabeth Weil, Founder & Managing Partner, Scribble Ventures
· 37 min
Episode VC10X - Investing $80 Million in AI Startups - Elizabeth Weil, Founder & Managing Partner, Scribble Ventures
Elizabeth Weil, founder and managing partner of Scribble Ventures, just closed an $80 million Fund III focused on AI-native startups.
She spent seven years at Twitter during hypergrowth from 60 to 2,500 employees, then built the Market Development team at Andreessen Horowitz.
⭐ Sponsored by Podcast10x - Podcasting agency for VCs - https://podcast10x.com
Key Topics discussed:
The Scribble Network
- 100+ operators and executives providing deal flow and portfolio support
- Strategic angels helping companies scale
- "Unfair advantages" through warm connections
AI Investment Philosophy
- Backing "AI-native" founders who "grew up" with the technology
- Focus on proprietary data and unique workflows
- Moat matters more than ever in a noisy landscape
Bold Predictions
- Every person will have a personalized tutor in their pocket
- Digital immortality: preserving knowledge beyond physical existence
- AI transforming healthcare, education, and daily behaviors
Founder Evaluation
- Key question: "Why are you the team on this planet that is going to be able to build this company?"
- Looking for "guttural desire" vs. whiteboard solutions
- Warm introductions as primary signal
Fund Details
- $80M Fund III for pre-seed and seed
- $750K - $1.5M initial checks
- Can lead, co-lead, or follow rounds
- Intentionally generalist despite AI focus
Contact:
- Website: scribble.vc
- Email: hello@scribble.vc
- X: @elizabeth
Timestamps:
(00:00) Introduction
(02:39) Elizabeth's journey from Stanford to Twitter
(03:08) Early career and how she got into tech and startups
(08:57) The Scribble Network and how it helps portfolio companies
(12:21) Definition of AI-native companies and key characteristics of founding teams
(14:17) Assessing the defensibility of a startup's data strategy
(15:39) Learnings from operating at Twitter and Andreessen Horowitz
(18:08) Key factors for investing at pre-seed and seed stages
(20:13) Fundraising experience for Fund Three and navigating the LP landscape
(23:03) Approach to valuations in the AI startup ecosystem
(24:28) Exciting AI sub-sectors and areas with potential
(30:15) Evaluating startups in a rapidly evolving AI landscape
(31:51) Advice for early-stage founders on building their venture
(34:08) Rapid fire round of questions about Scribble Ventures' investment strategy
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Transcript
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