🎙️Moving at angel speed without the traditional VC formality: Solo GP Sarah Drinkwater and her new £10 million fund
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On this Drive at Five editione speziale the omnipresent community builder/angel investor/and now Solo GP, Sarah Drinkwater sits in to discuss her newly announced fund, Common Magic.Tune in, turn it up, and start taking notes, because this week we're talking:- What is a Solo GP fund?- Angel speed, less structure, more access.- Nightclub term sheets.- Traditions to keep, traditions to change.- Sarah has raised one-third of a targeted £10 million.- Investing in 30 to 35 startups in Europe and the US at the pre-seed and seed stage.- "Hey kid, here's a hundred bucks, don't spend it all in one place."- "Products with community at their core." What does that mean?- Sarah's first job? You do not want to miss the answer.- Flexing the Google- 2014 - 2018 London. Good times.- SuperVenture: 40 people at a meeting, 38 in ironed white or blue shirts.- Temperature check: what is the funding landscape like at the minute?- What are LPs looking for right now?- Who do you see as people, "who are underestimated and underrepresented in their field"?- Grit!- An eye infection, pitching for 50 hours a week, and nobody says yes.- Pitfalls founders should be aware of when setting out on community building.- Nick breathes community. But only if they smell good.- A thesis, an ah-ha moment, and a "but isn't this obvious?"- Great club nights.- "I'm always nervous about trends because trends imply impermanence."- Building community is hard. Community builders are busy.