It’s clear that the worlds of entrepreneurship and angel investing form two parts of the same loop. Mostly, we see entrepreneurs becoming investors. Not Avin Rabheru.
Now the Founder and CEO of HouseKeep, Avin admits being interested in business from as early as five years old. But his start wasn’t in entrepreneurship, but as a VC at Smedvig Capital, the firm behind Streetcar and Lovespace.
‘We were typically investing £2m–£10m in later-stage businesses, usually with a few million pounds of revenue. And we’d come across businesses that were much earlier – at the starting point of revenue, almost pre-revenue – where you thought, we’ve got an exceptional team here with a very good chance in an interesting market. Often we’d have multiple meetings over a period of time getting to know them. And I thought, as they were raising small rounds of half a million, that I’d like to get involved personally.’
In this episode, Avin reveals how his start as an investor helped him later as an entrepreneur – and what he’s learnt about investing in retrospect, with a particular focus on evaluating founders.
‘I think it can be easy to get distracted by things that are actually not particularly important, like size of market or business model. I actually think they’re low down the list … it’s all about founder evaluation.’