An often-overlooked downside of the current macro environment is that there is less incentive for would-be founders to take the plunge. I recently met the angel investor and Growing Capital founder, Gianni Matera. He’s an interesting guy. When everybody else was chasing later-stage opportunities he ploughed capital into Enterprise Ireland (EI) backed HPSUs. His investment thesis was to find great founders, take EI’s investment as a proxy for quality, invest early – often as the sole participant in a pre-seed or seed round – and take a portion of the equity in exchange for the risk he would carry. The…
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