Vibe Capital
๐Ÿ–๏ธ

Vibe Capital

We were told no one would take us seriously as investors without a website, so here's our website.

image

I'm Ankur, and I started Vibe Capital to live vicariously through founders doing more interesting things than me.

I also founded Teachable, an online platform that enables creators to earn a living from their knowledge. I wrote the first version of the app in 2013 before hiring people that actually knew what they were doing, and eventually scaled the business to $50M+ in ARR, and an eventual exit to Hotmart where I now serve on the board.

This fund is my best attempt to fill the current existential void in my life. Enjoy.

Fund Stuff

Alternatively, check out our

๐Ÿ“ˆ
Companies
๐Ÿ’ฐ
Investors
๐Ÿ“š
Words of Affirmation

Or get in touch with Ankur

How has it gone so far?

Pretty well! But with the startup market where it is, we're unsure if we are lucky or genius. Ask us in a decade.

There isn't a ton of transparency amongst startup investors, but we're going to try and share as much as possible about our performance so far:

Fund 1 - $12M

We invested in 82 companies, of which 25 have had a priced round mark-up and another 8 have had a substantial SAFE markup:

The fund is currently at a 1.7x TVPI and 65% IRR:

image
Fund 2 - $70M

We've only been investing for ~4 months out of this fund and have nothing to share yet :(

Who do you give money to?

You can see our list of investments here.

We invest in early-stage technology companies around the world, just like everyone else.

Our stage of investing comes down to forming a thesis about the future of the world, and then backing individuals and companies that share those beliefs.

As such, here are some things we believe will be true:

1 - Venture capital will shape the next decade in emerging markets

Venture capital is best suited for markets that are very large and where companies that achieve product-market fit can grow very, very fast. This makes venture dollars ideally suited to large international markets like India, Brazil, Pakistan, Latin America and the African continent.

We will likely be the most active operator fund in emerging markets, with half our investments likely to be outside America.

Amongst our first ten investments from our most recent fund, we already have companies from Portugal, India, Pakistan, Kenya, Zambia, Chile and Canada.

2 - Entrepreneurs are the most motivated people in the world

We believe most industries can be reinvented by enabling more entrepreneurs from within, and companies that build for these entrepreneurs are tremendously exciting.

We saw this firsthand at Teachable, where we saw that the best teachers for the future were creators and entrepreneurs.

We are always looking for platforms that either enable more people to become entrepreneurs, or software that improves the quality of life for these entrepreneurs.

3 - Talent is equally distributed, opportunity is not

We live in a world of very unequal opportunity, and startups that address this both do a lot of good in the world, and also make for fantastic businesses.

As a first generation American whose life was transformed by immigration, this is personal.

4 - The financialization of everything has begun, and will accelerate

Thirty years ago, finance was pretty boring and relatively straightforward โ€” until we started innovating and building a suite of fun and addicting financial products. And then crypto took it up another level, and Robinhood made this mainstream.

The cat is now out of the bag, and we believe in a brave new future that is both more inclusive by broadening access, but also more ridiculous where everything from brand clout to an individuals income stream becoming a tradeable asset

5 - Proactive wellness will explode over the next decade

Most healthcare dollars have traditionally been spent on sickness and when things go wrong. But, we are entering a time where proactive wellness is finally coming of age.

We are extremely interested in businesses that proactively enable people to be their best physical and mental selves.

Who gave you money?

Rich tech people, mostly. You can see a full list of investors here.

Our most recent fund has 100+ investors, most of whom fit into five categories:

Venture Funds

We raised money from Tribe Capital, Accomplice, Learn Capital, Foundation Capital, Bessemer Ventures amongst others.

They get excellent deal-flow from us.

Venture Investors

We have both partners from amazing funds (Andreessen Horowitz, Box Group, GSV, Learn Capital, Shrug Capital) and a bunch of solo capitalists (Josh Buckley, Sahil Lavingia, Todd Goldberg)

They, too get excellent deal-flow from us.

Founders and Operators of Companies

We have raised money from the founders of Morning Brew, Streamlabs, Reforge, Loom, Codecademy, Republic, Angellist, Origin Protocol, Extend, Applovin, Streamyard, DraftKings, Alt, Stonks, Clearbit, Gumroad amongst others.

Additionally, we have senior operators from Levels, Alt, Applovin, Scribd, amongst others.

Creators

Our portfolio works a lot with top creators, and having them represented amongst our LP's was important.

Additionally, we are big believers in top creators looking to own more equity-based assets to build generational wealth.

Friends and Family Members

Hi Mom!

We had a wide variance in investment sizes with our smallest investor investing $10,000 and our largest investor invested $10,000,000.

No Management Fee Structure

We also structure our funds differently from most others.

The average venture fund charges "2 and 20" - a 2% management fee, and a 20% "carry" which is a share of profits after returning the fund.

The 2% management fee is actually very good marketing, since it is charged over 10 years, and equivalent to a 20% management fee over the life of the fund, but 20 and 20 doesn't sound quite that good, right?

We charge no management fee, which means every dollar raised is invested into startups. And a third of capital in every fund has been our own money.

Why should I take your money?

1 - We have actually done shit before

I still have not met a founder that does not prefer raising money from other founders. Most investors have not actually started or run businesses before, which is nuts.

We can help with very specific parts of building a company (i.e. How do I hire an executive? How do I compensate my first X employees?) or being an emotional sounding board for when things are rough.

My personal background was in running the Growth and Marketing teams at Teachable for a few years before the CEO job became enough, and can help with GTM strategy.

image
Working with Ankur and having him on our cap table is one of the best decisions we could have ever made as a company. He's helped us at Yac with fundraising intros, closing new business, and GTM strategy. Everything he says he will do and executes on is incredibly well done -- we couldn't be more grateful for him!

- Jordan Walker, founder of Yac

2 - We will work hard to be the least pain in the ass investor on your cap table

We will work very, very hard to always do the thing that causes you the least amount of pain while building a company โ€” whether that is being fast at turning around paperwork, or being flexible when you need us to be, we understand that it's pretty hard for investors to actually add value, so let's start by not taking away value.

image
My advice? Take Ankur's money! We have loved working with Ankur & Vibe at Turnip. Ankur has built and scaled teachable crazily, at a global level. And hence knows whatโ€™s best for founders. He is always super approachable, understanding and helpful. May it be connects, growth advice or fund raise help.

- Pooja Dubey, founder of Turnip

3 - We can help you raise this round, or the next round from who you want to.

While fundraising is not success, it can certainly open up doors โ€” and we have constructed our base of investors in a way that makes this possible.

Our investors include partners from Accomplice, Bessemer, Foundation Capital, Learn Capital, GSV, General Catalyst, Box Group, Footwork VC and we have a network of 50+ other operators angels we frequently collaborate with.

image
Ankur's someone you 100% want your cap table - he's super sharp, has an unbelievable network and puts it to work for you without asking. Moreover, you can have an open founder to founder conversation with him without fear of judgement, and remains a constant cheerleader.

- Ishaan Preet Singh, founder of Frontrow

4 - We take our work seriously, but not ourselves.

Cos life is too short for B.S.

image
As I write this, Ankur is in SF, and I'm staying in his NYC apartment for the week. I could not ask for a more supportive investor. He goes above and beyond for us whenever we need anythingโ€” and most importantly, heโ€™s a great friend to enjoy this wild roller coaster ride with.

- Matt Redler, founder of Panther