TLDR:
- Debut Midas listers like Trae Stephens and Wesley Chan have made billion-dollar deals in defense, consumer tech, and enterprise software.
- Investors like Stephens, Chan, Annabelle Yu Long, Justin Niu, Kevin Spain, and Jeremey Philips have focused on breadth over depth in various sectors.
Article Summary:
Debut investors on the Midas List, such as Trae Stephens and Wesley Chan, have demonstrated their ability to make billion-dollar deals in various industries such as defense, consumer tech, and enterprise software. Stephens, a partner at Founders Fund, has made significant investments in defense and manufacturing companies, most notably Anduril, a defense contractor he founded that is now valued at $10 billion. Another newcomer, Wesley Chan, has capitalized on his consumer tech experience from Google to make successful investments in companies like Canva, Ring, and Robinhood.
Annabelle Yu Long, founder of BAI Capital, brings a different perspective to the list with her focus on Asian companies and investments. Meanwhile, Justin Niu from IDG Capital and Kevin Spain from Emergence Capital have made their mark with investments in enterprise data services and cloud banking platforms, respectively. Jeremy Philips, a general partner at Spark Capital, has also made a name for himself with bets on companies like Affirm and TripAdvisor.
These new Midas listers have found success by investing as generalists, focusing on breadth rather than depth in specific sectors. This approach has allowed them to make diverse investments across different industries and disciplines, ultimately leading to their billion-dollar wins.
