Jared Hecht of USV, 2x Exited Founder of Fundera (Nerdwallet) & GroupMe (Skype/Microsoft)
The Coolest New Investor in NYC
Jared Hecht of USV, 2x Exited Founder of Fundera (Nerdwallet) & GroupMe (Skype/Microsoft)
Big thank you to Andy Weissman of USV for the introduction & bonus question!
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This episode of Sourcery features an in-depth & very refreshing conversation with Jared Hecht, Venture Partner at USV and 2x exited founder of Fundera & GroupMe.
For context:
Fundera, Grew to a profitable $100M+ annual revenue business with 1M+ monthly visitors to the marketplace. It was acquired by Nerdwallet in 2020.
GroupMe, with over 100M+ people have used GroupMe, including 25M MAU and virtually every college student in the country. It was acquired by Skype/MSFT in 2011.
Jared shares his journey from starting his career in NYC at Tumblr to founding & exiting two successful companies Fundera and GroupMe to eventually transitioning into venture capital at USV.
We go deeper into the unique culture at USV and the firm's top tier thesis of investing at the edge of large markets, the role of luck in entrepreneurship, and what he wished more investors would do. He reflects on the challenges and rewards of being an entrepreneur, how his perspective has evolved as he’s shifted to ‘the dark side,’ and emphasizes the importance of honesty and integrity-driven support from VCs.
As a long-time active leader in NYC tech, we also dig into the maturing ecosystem in New York City.. as well as his love for chess.
Timestamps
(00:00) Preview and Intro
(02:59) Jared's Career Journey: From Tumblr to Founding Two Companies
(10:16) Taking a Break and Joining USV
(25:24) Investment Focus and Areas of Interest
(28:47) Interacting with Founders
(33:11) The Romanticized View of Entrepreneurship
(34:21) The Unique Approach of USV
(41:34) What Some Investors Get Wrong
(45:04) The Evolution of New York's Tech Scene
(48:28) From Chess Champion to Venture Partner
(50:31) Wrap
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