In this conversation, Hernan discusses the evolution of angel investing in Mexico, the growth of the startup ecosystem, and the transition from an angel network to fund management. He shares insights on investment strategies, the importance of relationships in Latin America, and the challenges of scaling businesses across different countries. Hernan also highlights current trends in fintech and the silver economy, while reflecting on the lessons learned throughout his journey in venture capital.

CHAPTERS

00:00 Intro: Hernan Fernandez, Managing Partner of Angel Ventures
00:59 The Evolution of Angel Ventures
01:44 Initial Reception and Challenges in Mexico
02:46 Feedback to a Angel Syndicate in Mexico in 2009
04:06 Value of MIT Network in Early Days
05:35 The Evolution of Mexico's Startup Ecosystem
08:42 "It's a 20 Million Fund Onwards or You're Not On"
09:38 Fund 1 Economics
10:28 Fund 1 Takeaways
12:17 Angel Ventures' Thesis
13:48 Latam's TAMs & Tailwinds
15:10 It's Not a One Size Fits All in Latam
17:04 Why Everything Flows into Mexico
18:37 Challenges of Expanding to the US
19:56 The Similarities Across The "Global South" Markets
20:45 When LATAM Startups Should Expand to the US?
22:07 Angel Ventures Target Ownership & Macro Challenges
23:32 Ensuring The Business Model is "VC Backable"
25:55 Emerging Trends in FinTech and Beyond
27:07 The Silver Economy: Consumers over 50 years old
27:49 Corporate Partnerships, Agtech, & Heathtech
29:07 How Do You Think of Moats & The Art of VC
31:15 Building a Supportive Ecosystem
32:39 What's the Role of VC?
33:51 Final Thoughts
38:29 Outro

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Cut The Check w/ Mack Meyer is a podcast about venture capital, startups, and entrepreneurship in Latin America and beyond.

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