In the last few weeks, COVID-19 has changed just about every business in the country. Prior to Gaia, Charles worked in New Business Development at Google and focused on new partnership opportunities for early-stage products in the advertising, mobile, and e-commerce markets. 16 de maro de 2023 - 9h39. But not if Chelsie Lees startup Shipsi has a say in the matter. 2023 Crunchbase Inc. All Rights Reserved. Prior to founding Precursor Ventures, Charles was a Partner at Uncork Capital (formerly known as SoftTech VC). Big-Data Initiative in Intl. The larger healthcare organizations can be harder to get but once you do, they can help you pick up supply in gigantic bunches. Josh needs . There are some things I think you can tweak and massage about your story to make it easier for people to understand. Find out if he , For businesses, the process of buying software is brutal. One of the biggest mistakes I have seen people make is once they think they have a little bit of product-market fit, they immediately want to turn on paid advertising. Sheel Mohnot Better Tomorrow Ventures. While the spree of funds on Election Day was noteworthy, it was somewhat expected. In VC, before you pitch investors, youre expected to get some initial cash from friends and family. Social services targeting particular audiences? Prior to founding Precursor Ventures, Hudson was a Partner at SoftTech VC. Register to watch a livestream recording of the Equity podcast! With consumer, there is always the risk of confusing the size of the potential audience you are addressing with the size of people who really want to transact through a marketplace setting. Range: $250K - $500K. Born and raised right outside of Detroit, Hudson moved to California in the late 90s to attend Stanford University, where he earned his undergraduate degree. Charles Hudson is the Managing Partner and Founder of Precursor Ventures, an early-stage venture capital firm focused on investing in the first institutional round of investment for the most promising software and hardware companies. During those years he saw one of the biggest inefficiencies in the industry up-close: getting available drivers matched with trucks ready to get on the road. Hudson's firm, Precursor Ventures, focuses on . And when you send your deck to a VC, you only have 3 minutes and 44 seconds to sell them on the idea of your business. Until a w Back in May we asked entrepreneurs to call in and give us their best pitches. There might be a reason these activities are not happening offline, or we might not have looked hard enough to find that offline analog. They had little to no traction and only needed $500,000 to $1 million to get started, yet they were working on big problems that he found interesting. To achieve anything in life, theres a certain amount of risk involved. This might sound obvious but at Precursor we try to avoid marketplaces that have high take rates and do not add a commensurate amount of value for buyers/sellers. That grows to 17.2% when the team is mixed-gender. When Alon Shwartz started his parental control app, UnGlue, he thought Apple would be an ally. Precursor Ventures, led by Charles Hudson, has raised a new tranche of capital to invest in pre-seed companies. Bionic Panda scales and Hudson dials back his involvement with Uncork Capital, in which case the fund would invest in the gaming company. 2023 Bowery Capital. I figured that out fairly quickly.. He was also the Co-Founder and CEO of Bionic Panda Games, an Android-focused mobile games startup. To cash in on their hunch, they need to convince investors they can make waves in a space already crowded with competitors. This tale starts with a problem Kehan Zhou found when trying to buy a hobby farm. But todays founder, Aparna Srinivasan, thinks she can buck that trend by introducing pets into the equation. and ii) is there a role for a software based B2B marketplace to make that status quo significantly better? Europe, Menlo Park, China), Where the person is located (e.g. This week, Charles Hudson, Managing Partner at Precursor Ventures, answers some of our questions. So for nearly three years, Hudson and his co-founder worked on and scaled Bionic Panda to around 14 employees before selling its intellectual property to another company. In his mind, this presented an opportunity. Thats the question that drove NFL lineman Jason Fox to build an app for that. An app called Earbuds. Marquett Burton says his education startup can help solve the problem. Throughout his journey, Hudsons knack for taking calculated risks ended up either giving him valuable experience or unlocking new opportunitiesmany times both. Prior to joining Google, he was a Product Manager for IronPort Systems, a leading provider of anti-spam hardware appliances that was acquired by Cisco Systems for $830 million in 2007.Charles was also the founder of the Virtual Goods Summit and Social Gaming Summit, two of the leading conferences in the free-to-play games space.Charles spent several years working at In-Q-Tel, the strategic venture capital group for the Central Intelligence Agency. But then, everything went wrong. But the investors are worried that it sounds a lot like MoviePass, a company that offered a sub Ryan Husk wants to take your workplace culture up a notch. But if you strip away the bad, will you a Move fast and break things is a mantra for a lot of startup founders but what if the federal government is slowing you down? One commonality is that they both tend to take a while to start working. But the chat was far from all gloom; Hudson is bullish on a number of things. Its meant to help people who are in rehab. If fully raised, Fund III will be the firms largest yet. Prior to founding Precursor Ventures, Charles was a Partner at SoftTech VC. San Francisco-based Precursor Ventures, a venture capital firm led by Charles Hudson, is eyeing a $10 million Opportunity Fund, per an SEC filing last week.According to the filing, no capital has yet been closed for the new fund; however, it's not uncommon for firms to submit regulatory disclosures immediately prior to accepting their first capital commitments. Because if a super early-stage company manages to survive the COVID-19 era, making it out the other end, its not clear that theyll be venture-ready when markets recover. BLCK VC, Operator Collective, and Salesforce Ventures believe that by making venture capital knowledge and networks more accessible, we can help empower the Black technology community and provide a path to accelerate innovation, opportunity, and access. Read more. Electing to not join Zynga after the acquisition, Hudson found himself back in a very familiar position: figuring out what he wanted to do next. My thinking on this as an investor has changed a lot. Getting this money is a critical first step for a new startup. Its a story of turning calculated risks into a career that would go on to span more than a decade. Her startup, The Cru, is dedicated to helping women achieve their goals by connec Kate Flynn has a plan to make her healthy snack bites stand out: skip the grocery stores, and find potential customers when and where they need a snack. All-women teams raised 1.9% of VC funds in 2022. Precursor Ventures Charles Hudson on the conversation no one has during an upmarket. While at In-Q-Tel, he focused on identifying investment opportunities that could deliver significant value to the CIA and the commercial market in both the short and long term. UPDATED: 03/14/23. We are looking for industries where those frictions are high and the current process is unpleasant, but it is still functional. Crunchbase Daily. UPDATED: 03/15/23. Clavier, however, had an idea for Hudson to become a Venture Partner at Uncork Capital because he knew one of two things was going to happen: Either way he looked at it, Hudson had a good deal on his hands. For years, Pierre Laguerre worked as a truck driver. Prior to founding Precursor Ventures, Charles was a Partner at SoftTech VC. He has invested in 250 companies and supported more . Charles Hudson, Managing Partner at Precursor Ventures. Time will tell if this is a final exhale of news until January 1, or if the VC world will continue pushing droves of capital, holidays be damned. There are tons of companies popping up in the scheduling space now that Calendly is valued at 6 billion dollars. It is similar to SMB vs. enterprise sales, the effort to get these large hospital systems is a lot of work but once you get them, they have a ton of equipment. Prior to that, he was a Venture Partner at Uncork Capital (formerly SoftTech VC). At the time of filing, no capital has yet been raised; however, it bears mentioning . The founders of Harper Wilde want to take the B.S. In 2015, leveraging everything he had learned over the years, Hudson founded Precursor Ventures with a premise that all entrepreneurs, regardless of background, benefit from having an investor help them scale and grow their company from the very beginning. Charles Hudson, of Precursor Ventures, talks about the new "rules" for startups. All this is packed into a single pitch for his startup, . Charles spent several years working at InQTel, the strategic venture capital group for the Central Intelligence Agency. Charles Hudson is the Managing Partner at Precursor Ventures, a classic seed stage investment firm based out of San Francisco, CA. Tiffany Dufu has spent her career uplifting women and girls. Charles Hudson is the Managing Partner and Founder of Precursor Ventures, an early stage venture capital firm focused on investing in the first institutional round of investment for the most promising software and hardware companies. At the time, the venture firm was growing, raising larger and larger funds$55 million, $85 million. Still, Precursor Ventures and Hustle Fund are both still fundraising, so expect them to (hopefully) add more capital in the coming months. Precursor Ventures is a classic seed-stage venture capital firm investing in long-term relationships with founders it believes in. In this conversation with Stanford adjunct lecturer Vimbayi Kajese, Morule . in Economics and Spanish from Stanford University. But from the moment she stepped in the room, it was clear that this pitch would play out differently from the . #37 Can Tech Solve Americas Drug Crisis. It seems like no matter how much money investors sink into them, they always just fail? It is not uncommon for it to take +2 years for a B2B or a B2C marketplace to find its footing and start to take off. The company is already doing well on Walmarts shelves. Head here if you need Extra Crunch access; there are some trials for just a few bucks, so everyone can access the chat. Precursor Ventures invests in people over product at the earliest stage of the entrepreneurial journey. Stefan Loble wows the room with his near perfect pitch for Bluffworks, a company that makes travel-business attire. Clothing rental companies get a bad rap in the VC world. Founder Ray Li says he can make you a custom suit, out of a quiz. While at In-Q-Tel, he focused on identifying investment opportunities that could deliver significant value to the CIA and the commercial market in both the short and long term. Hosted by Josh Muccio, the new season will see investors commit over $900,000 to bring these ideas to life, with a panel that includes longtime favorites Jillian Manus (Structure Capital), Charles Hudson (Precursor Ventures), Elizabeth Yin (Hustle Fund), and Phil Nadel (Forefront Venture Partners), as well as newer voices Victor Gutwein (M25 . Lunar, the Danish neobank last year valued at $2.2B, raises $38M to shoot for the profitability moon. In this role, he focused on . Officially returning to the profession that started it all. Two found Today's founder had everything going for him: a huge market, loads of experience, and $70k in monthly revenue. . Head here if you need Extra Crunch access. Precursor seeks to invest in a company's first round of . Chapman Snowden, an ex-Googler with prior founding experience, is working on a new financial technology venture as an EIR at the firm. #70 What Is Michael Phelps Jamming to Right Now? So he started a company, Blakes Seed Based , to make snacks safe for . She calls it a zebra: a company thats driven by a mission but still wants to make money. What I would say is that with most of the B2B marketplaces we have invested in, they start off really flat, and at the start not that much happens in terms of transactional activity. However, he found himself spending time looking at investment deals with Jeff Clavier, the Managing Partner at Uncork Capital (formerly SoftTech VC). Precursor seeks to invest in a company's first round of institutional investment and focuses on investments in B2B software applications, B2C software and services, and connected hardware. The apps on our smartphones seem to be engineered for addiction. Today's investors are Alexandra Stan Blake Sorensen has a deathly nut allergy one that's led to some harrowing trips to the ER. No one knows this better than Charles Hudson, the Managing Partner of Precursor Ventures, . Early stage venture capital firm. When scientist Amado Guloy saw an opportunity to combine farm animals and big data, he traded the laboratory for the boardroom and created Rex Animal Health. What his continuing role as a Venture Partner at SoftTech entails. Today's investors ar Susan Sierota wants to help dog owners keep their furry friends healthy with her pet-tech startup, Waggit . San Francisco, California. Decision analysis is a high-quality conversation leading to clarity of action. Meet some of the founders we back: Portfolio. The winner was Leigh Isaacson and her startup Dig a dating app for people who love dogs. Recent investments from Precursor include The Juggernaut, mmhmm and TeamPay. To conquer the market, Ryan has a big, audacious plan, and this is his very first time pitching it to VCs. His startup, Culture Force, matches companies to experiences designed to improve community at work. Today's investors are Nicole Verki Max Tuchman is on a roll with Caribu, an app that lets parents and kids read together virtually. Introduction:Charles Hudson is the Managing Partner at Precursor Ventures, a classic seed stage investment firm based out of San Francisco, CA. Todays investors are Charles Hudson, Michael H Ben Walters came on the show to sell the investors on Feedback, an app that lets restaurants change their prices on the fly. Charles Hudson is the founder and managing partner of Precursor Ventures, an early stage venture capital firm focused on investing in the first institutional round of investment for the most promising software and hardware companies. Everything from a better ketchup to a potential solution to one of the biggest problems . Now, she has so many customers, she cant keep up. That tends to be a qualitative conversation and for most of the marketplaces we have backed, they dont have any transactional volume when we meet them, but they understand the current situation and have a plan to improve it. Hes changing things up using prop bets inst Zahra Kassam has been on the road in a major way, pitching her startup, Monti Kids. Extra Crunch Live is back in 2021, connecting founders with tech giants and each other, Salut raises $1.25M for its virtual fitness service, and Announces New Executive Leadership Hires, Tech Shows Guide: How To Watch Facebook Connect, Apple Event And TechCrunch Disrupt This Week, Founders can raise funding before launching a product, Evaluating Markets and Picking Startup Ideas with Charles Hudson, Precursor Ventures founder: VC firms should be introspective on diversity. When gyms closed at the start of the pandemic, Kevin Allens at-home fitness app, Row Vigor, went gangbusters. In VC, investors want to win big thats why they love highly scalable tech companies so much. Beyond some angel investing on the side, he had not been involved in venture capital since his days with In-Q-Tel. Barely a year Investors are giving founders everywhere an ultimatum: just find a way to survive the next few months. What side of the market (supply vs. demand) do you encourage B2B marketplace founders to focus on at the outset? However, despite having a lot of fun and working with an incredible cast of colleagues, he realized that product management wasnt the right fit for him. Many things go into a successful seed or even pre-seed round. You all motivate me to be better, to try harder and to accomplish more! This was his venture capital crash course and another once-in-a-lifetime opportunity he didnt want to pass up. News & Insights | Contact: Phone: Email: Black investors remain underrepresented in VC. Thrilled to participate with fellow alumnae at the Cornell Law School Women's Summit. After graduating from Stanford in 2000, he decided to stick around the Bay Area, landing an internship with a technology startup. Charles Hudson is the founder and managing partner of Precursor Ventures, an early stage venture capital firm focused on investing in the first institutional round of investment for the most promising software and hardware companies. While working for a company like Google certainly has its perks, Hudson realized he needed to be part of a smaller company, so he left. Precursor seeks to invest in a companys first round of institutional investment and focuses on investments in B2B software applications, B2C software and services, and connected hardware. In addition to his investment activities, he supported SoftTech portfolio companies on business and corporate development matters. Today's investors are Co-founders Kevin Allen and Moses McCall think rowing is the next big trend in fitness. General Partner. As fate would have it, this opportunity would be the catalyst for Hudson getting his first taste of the venture capital profession. Charles Hudson has created a niche for himself in Silicon Valley's venture capital ecosystem by pursuing opportunities others have largely ignored. Jay Lundy, VP, Investments & New Ventures at Combs Enterprises. He holds an MBA from the Stanford Graduate School of Business and a B.A. Co-Founder/ Venture Advisor/ Community Builder @ Venture Starters & Ambassador @ TiE SoCal Angels 1mo This season, we head to Chicago to meet 14 founders with 12 business ideas big enough to change the world. Charles Hudson is the Managing Partner at Precursor Ventures, a classic seed stage investment firm based out of San Francisco, CA. The rule I try to follow is Can you complete one end-to-end transaction through your marketplace? can a buyer and seller meet organically on the marketplace, negotiate a sale, and finalize the transaction, with only minimal encouragement or handholding behind the scenes. But does she have what it takes to take the brand online? Black Venture Institute is a curriculum-based program dedicated to teaching Black operators . Pre-seed investing is a relatively new concept. Its a strategy thats outside of the investors wheelhouse, but if she , The 2.4 trillion dollar fashion industry is due for a makeover, according to Andrea Madho. He was also the Co-Founder and CEO of Bionic Panda Games, an Android-focused mobile games startup.Prior to joining SoftTech VC and co-founding Bionic Panda Games, Charles Hudson was the VP of Business Development for Serious Business until the company was acquired by Zynga in February 2010. Now I think of leakage as a signal from your market that something about the value prop for the marketplace does not hold over time. ETL Speaker: Charles Hudson, Founder & Managing Partner, Precursor Ventures Date: November 9 Time: 4:30pm Event link: https://www.youtube.com/watch?v=VWqwGBw5908 Bio: A few months before our show, she pitched on ABCs Shark Tank. Today we find out: Did she win over any investors in her , Tom Impallomeni is here to pitch Tribe XR, a VR app that teaches people to DJ. Though Precursor Ventures was early to the trend of smaller and earlier fundraising rounds, Charles had to work relentlessly to raise his first fund. Prior to Gaia, Charles worked in New Business Development at Google and focused on new partnership opportunities for early-stage products in the advertising, mobile, and e-commerce markets. Thats why he created a device that turns smartphones into satellite communication hubs. Prior to launching Precursor, Charles Hudson was a Partner with SoftTech VC, one of the most active seed stage investors in Internet and mobile startups. But then he decided that enough was enough. He focused on identifying investment opportunities in mobile infrastructure, mobile applications, and marketplaces. For pre-seed startups, precarious times are baseline until they secure their first customer, first hire and first check. But can he get the rehab centers on board? Eva-Maria Olbers, Platform and Operations Lead at Point72 Ventures. Since the firms formation in October 2015, Precursor has primarily focused its investment dollars on seed and pre-seed deals. Charles Hudson is the Managing Partner and Founder of Precursor Ventures, an early-stage venture capital firm focused on investing in the first institutional round of investment for the most promising software and hardware companies. 2023 Crunchbase Inc. All Rights Reserved. Insight did not return a request for comment. Additionally, Charles Hudson has had 12 past jobs including Venture Partner at Uncork Capital. My students rocking their roles for their upcoming sequel. On todays show, investors Elizabeth Yin and Charles Hudso Last year, investors woke up to the fact that the biggest ridesharing companies still struggle to make money. Now I'm also hooked on Charles Hudson (Precursor Ventures) Jolina Hukemann (Student) Terry Irwin (Transition Design Institute, Carnegie Mellon University) Nandini Jammi (Check My Ads, formerly Sleeping Giants) . And at the same time, he was involved with Uncork Capital as a Venture Partner. For example, in an equipment marketplace, finding all of the used equipment that you want to sell is usually the easy part compared with figuring out how to change buyer habits. in Economics and Spanish from Stanford University. Medinas is also in one of these marketplaces where I think eventually buyers will be sellers and sellers will be buyers. Precursor is focused on investing in relatively early-stage ventures what are the initial indicators that you look for when evaluating a nascent B2B marketplace? If you are a phone person, you can also call me at (650) 249-0905. After a year of contemplating the idea, Hudson decided to take the plunge. . Prior to founding Precursor Ventures, Charles was a Partner at SoftTech VC. . Nick Soman, Precursor Ventures, Decent.com, Neil. 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