Hunter Walk has been one of my favorite VCs for some time now, and when it comes to Seed Stage funds, it’s safe to say that Homebrew is one of the most-respected firms out there. So when I decided to kick-off a new interview series, Hunter was at the top of my list, so I reached out over Twitter, he said yes, and a few weeks later I was at the Homebrew offices in SF.
I prepared a list of questions for Hunter which he told me not to show him beforehand which is an approach I think I’ll stick with going forward. I’ve always found Hunter to be an incredibly authentic person so I’m not surprised he wanted to answer the questions in realtime.
Since both my blog and podcast are focused on Seed Stage startups and Seed Stage investing I think you’ll find this interview incredibly relevant if you are a Seed stage founder (or aspiring to be one). If you’ve ever wondered things like, “What’s the one thing that bugs Hunter in a Seed Stage pitch deck?” or “Does Hunter care about a startup hitting a certain revenue threshold before he invests?” or “Did Hunter ever happen to work on a certain now-famous late night TV show?” then you’ll enjoy this podcast.
Okay so enough from me, you’re probably ready to dive in and listen right? Simply click the image or link below to listen on iTunes or open your favorite Podcast app and search for Morgan.xyz and you should see my big goofy cartoon head.
Morgan Linton interviews Hunter Walk (Listen Now)
Don’t have time to listen but want to hear some of the highlights? I’ve got you covered. While this is by no means a replacement for listening to the interview, if you just want to spend a few minutes getting a taste of what’s in there, then read on.
- When looking at founding teams at a Seed Stage startup, Hunter likes it when founders have worked together in the past, it’s a positive signal. If founders went to school together or have always been friends, this isn’t as valuable – he really want to know if they can work together (“just see how it feels”)
- Hunter was worried that when he started Homebrew, would he encounter teams he was excited by on a daily basis – the answer turned out to be a resounding yes. Now the number of startups he roots for ends up being much larger than what he can invest in.
- Hunter’s advice on choosing your early investors – never take money from people you don’t want to “live with” – focus on investor alignment early on.
- Don’t over-obsess about perfect, find a deal structure where both sides take a little pain and then get to work.
- Hunter’s thoughts on fundraising – “No matter how hard and stressful fundraising might feel – it’s actually building the company that is hard.”
- What does Hunter hate to see in Seed decks? Exit slides! “If you are on day one telling me how your company is going to get acquired or by whom, you are in some ways not thinking about building a long-term company.”
- Hunter cares a lot about the why not just the how. Why do you want to spend ten years of your life on this?
- Projections at a Seed stage will not be taken as fact, but can show if you understand what it’s like to build and scale a venture business.
- You don’t want to get “short-funded”
- After you raise your Seed Round, it never hurts to take a step back and really make sure you understand your customer, funnel, etc. don’t think you have to immediately put your foot on the gas.
- What makes a good funding story? Durability.
- Hunter used to work on a particular late night TV show, you’ll have to listen to the whole podcast to hear more!
Okay, by now you’re probably thinking, okay – I’ve gone through these bullet points and I want more! Lucky for you, there is a more, a lot more, in my interview with Hunter – click here to listen now.
I would like to express my sincere thanks to Hunter for taking the time to do this interview with me. As many of you know, I am not some big name blogger, and this is my very first interview with a VC. For someone like Hunter who is a big name VC and blogger to take the time and the risk of being on my podcast speaks to the kind of guy Hunter is. I thought the world of him before this interview and meeting him in-person and getting to hear how he thinks about the world only further validated those feelings!
If you want to read more from Hunter I highly recommend checking out his blog – HunterWalk.com. If you’re raising a Seed Round and think Homebrew could be a good investor you can find them at Homebrew.co.