TLDR:
Victor Lazarte, former CEO of Wildlife Studios, has transitioned to a VC role at Benchmark and made his first investment in HeyGen. Lazarte emphasizes the importance of focusing on few things that matter in venture, compared to a long to-do list as an operator. He highlights the challenge of separating personal projections from a pitch when evaluating potential investments. Lazarte is also pondering optimal sourcing strategies and the future value of investing in AI.
Article Summary:
Victor Lazarte, previously the CEO of Wildlife Studios, has transitioned to a VC role at Benchmark. He recently made his first investment in AI video creation startup HeyGen. HeyGen raised $60 million in its Series A round, with impressive growth and profitability. Lazarte emphasizes the need to focus on key aspects in venture, rather than trying to achieve a high volume of tasks as an operator.
One challenge Lazarte faces is separating personal projections from a pitch when evaluating companies, a common issue for operators-turned-investors. He reflects on the mistake of assuming potential growth opportunities that were not part of the entrepreneur’s pitch. Lazarte also discusses the importance of optimizing time as a VC and the complexity of deal sourcing.
Looking towards the future, Lazarte is considering the optimal strategies for sourcing investments and the potential value of AI investments in the midst of ongoing transformations. He notes that transitioning to a new role does not erase the lessons learned from previous experiences and plans to immerse himself in HeyGen’s business to help shape its future.
