Why small markets are better than big markets: Venture capitalist Adam Fisher's insights

‘The key for looking at first-time entrepreneurs is identifying somebody that you have chemistry with, that you have back and forth from, that they can learn from you, you’re learning from them.’ – Adam Fisher

Adam Fisher, a partner at Bessemer Venture Partners, shares his insights on the evolution of venture capital, his investment philosophy, and the importance of building strong relationships with entrepreneurs. He discusses the pitfalls of hasty decision-making and the value of patience in due diligence. Fisher also provides advice for new investors and shares lessons from his successful investments as well as failures.

Table of Contents

1. The Evolution of Venture Capital
2. Pitfalls of Hasty Decision-Making
3. Investing in First-Time Entrepreneurs
4. The Outsider Approach to Market Strategy
5. Investing in Unique Ventures
6. Fundraising Capabilities as a Key Factor
7. Investing in Smaller Markets
8. Imagination in Investment Decision-Making
9. Learning from Failed Investments
10. Value of Pattern Recognition
11. Assessing Candidates for Investment Companies
12. Misgivings About Entrepreneurs Can Indicate Future Problems

The Evolution of Venture Capital

Venture capital has evolved from being a closed industry that was adversarial towards entrepreneurs to a more open and collaborative space.

This openness allows for better communication and understanding between investors and entrepreneurs, benefiting both parties.

Pitfalls of Hasty Decision-Making

An overemphasis on speed in decision-making processes can lead to poor investment decisions.

It is crucial to take time for thorough due diligence before committing to long-term partnerships with entrepreneurs.