TLDR:
Rayn Ong, a prominent Australian venture capitalist, has released an ebook called ‘Memoirs of a dumb VC’ sharing his insights and lessons learned over the past decade as an angel investor. Ong emphasizes the importance of holding onto investments for the long term and criticizes the Australian venture capital ecosystem for being too conservative. He also highlights the need for higher valuations to support local founders.
Full Article:
Rayn Ong, a well-known figure in the Australian venture capital scene, has recently unveiled an ebook titled ‘Memoirs of a dumb VC’ where he shares his experiences and wisdom gained as an angel investor. Ong, who has made over 100 investments and is involved in various capacities within the startup ecosystem, emphasizes the importance of patience and holding onto investments for the long term.
Ong criticizes the Australian venture capital landscape for being too conservative and risk-averse, noting that local investors tend to shy away from higher valuations that could better support local founders. He also points out that Australian VCs typically charge lower management fees compared to their international counterparts, resulting in smaller fund sizes and lower salaries for fund managers.
In his ebook, Ong also touches on his unique investment strategy and approach to startups, including insights on high-profile investments like Canva. He reveals that despite challenges in the local ecosystem, he remains optimistic about the future of Australian startups and is committed to supporting them.
Overall, ‘Memoirs of a dumb VC’ offers a glimpse into the mind of a seasoned investor and provides valuable lessons for aspiring angel investors and startup founders alike.
