How This Under-30 Podcaster Raised One of Europe’s Largest VC Funds

Do you think this is good? It’s an Under 30 weekly magazine and it could be better your inbox.

How do you raise hundreds of millions of dollars to invest in startups and do it at the age of 28? Ask Harry Stebbings’ 30 under 30 list of European financiers.

Each week, Stebbings meets with two new limited partners — potential investors to back his firm’s 20VC fund — and asks those people to introduce him to other LPs. three.

The Internet, which he says is tireless, led the London-based 20VC to raise $400 million in funding within four months, the firm announced Tuesday, backed by organizations such as Rothschild’s RIT Capital Partners and the Massachusetts Institute of Technology Investment Management. The lift took 20VC to go above the level of private equity firms in Europe until now.

The latest fund follows a $140 million fund raised in 2021 and an $8 million fund before that. But it all really started with a podcast: In 2019, Stebbings made the Forbes Under 30 list for founding “The Twenty Minute VC,” a media brand she launched at age 18, interviewing some of the the world’s greatest investor (like billionaire entrepreneur Marc Andreessen, whom he harassed. He was emailed 53 times before agreeing to join the program).

“Why is the podcast successful? Because we understand the science of what makes a good episode,” said Stebbings Forbes. “Successful podcasts understand the importance of time. If we don’t hit the trick, the lesson, in the first three minutes, we cut it.”

The podcast, he says, also helped attract founders to 20VC. Now the company has more than $ 600 billion in equity, investing between $100,000 to $3 million for seed rounds and up to $15 million for Series A. One of Stebbings’ favorite investments has been LinkTree—a “link in bio” tool that is currently which is valued at $1.3 billion.

The structure of 20VC is also different from others: It has three sub-funds, 20Sales, 20Product and 20Growth. Each fund has eight industry experts who are active in companies such as OpenAI, Pinterest, LinkedIn, and Spotify as investors. Adding value for founders? “Take the 20Sales account and get eight of the best sales leads on speed dial,” he said.

And when it comes to what kind of $400 million goes to founders, Stebbings has one basic criteria he’s looking for: Common sense. “I’m not the smartest guy in the industry, but I work harder than anyone else is willing to,” he said. “That’s why I have such a small life, and I live in an office, but I don’t think many young people are willing to give up everything to achieve it.”

He says entrepreneurial frustration—which he measures by asking people how they made their first dollar—is necessary for all great founders. And for those who want to start investing or start their own financial business, he cannot emphasize enough how important it is to network. MIT and RIT Capital, for example, were seven to eight partnerships in the making.

“Build relationships early. Don’t ask for a job. Meet them for coffee, ask them for advice, chat with them on social media. How were we able to raise this fund so quickly? Because I built relationships well before fundraising,” Stebbings said.

I’ll see you next time,

Alex & Zoya

Inside the World’s Most Exclusive Club

This remote Montana area has less than 900 homeowners, worth more than $290 billion combined. Here it is Forbes exclusive guide to the rich and famous members.

With our Radar

-Gen Z has been derided time and time again for being “lazy” and “entitled.” But research shows that it is not just a group of young people not laziness around the world, but really to burn oneself out of production. Due to the pressure of modern movies with many programs, “Young people live in a culture that is very concerned with success and achievement, while the usual symbols of being ‘successful’ (home, work stable, savings account) they feel more. unattainable every day,” writes Vox. (Vox)

-With 18 seltzer recipes in his book, Bill Creelman’s Spindrift seltzer water is taking over grocery store aisles (despite Creelman not entering a grocery store until he was an adult). He grew up working on a farm and later moved on start two different types of food starters before Spindrift takes off. Today, it’s a profitable business bringing in more than $300 million this year, he says. Here’s how he breaks through the initial seltzer buzz. (Bloomberg)

-Fast fashion brand Uniqlo has tapped a new face as its next creative director. Clare Waight Keller comes from a background in luxury design: She he spent years at Givenchy and designed Meghan Markle’s wedding dress. Now, it’s his job to bring “basic and democratic prices” to the Uniqlo crowd. He said: “Every time I do freelance work, I feel like my decisions surprise people New York Times. Maybe that’s a lesson for all of us (young and old) to think outside the box for our next career steps. (New York Times)

One Minute with Camila Victoriano

We bring you information about a new member of the Under 30 community. Until this week: 2024 Under 30 Media list Camila Victoriano, co-founder of Sonoro, a podcast company that shares podcasts and shows heard from Latino storytellers in English, Spanish and Spanglish. The Miami native has $13 million to build his network.

The following information has been edited slightly for length and clarity.

When did you first decide you wanted to be a founder? For me, it was never a conscious decision—I never grew up saying, “I want to be a founder” or “I want to be an entrepreneur.” I came to the conclusion by having a deep desire to be able to tell stories that moved me and realizing that the place where I can do that has not yet existed.

What was the first (or first) podcast you listened to? I was introduced to podcasts by S-Town (I listened to that before Serial). I was immediately blown away, like many, by the human elements of the story, even though the initial “hook” didn’t have a solid resolution.

What was your favorite telenovela growing up? The funny thing is that we didn’t watch too many in my house, but I remember my whole family watching I’m Betty, The Ugly in religion (Colombian translation)—an old one! And it just started again.

How has the podcast industry changed since you started Sonoro? In many ways, many companies take the international market seriously. We were one of, if not the only, company established in Mexico and Latin America when we started in 2020.

Also, we saw a correction in the spending that was happening in the first series, which was limited to the world of audio.

How is a day in your life? As you can imagine, it changes from day to day, but I usually meet with the creators to hear new songs, talk to our teams about the progress of our development and production programs, or work to introduce our programs to products and products. customers, both on the audio and TV and film side.

What is the most surprising thing in the founder’s life? There have been many lessons learned, but one thing that is amazing is that you stay creative. Whether it’s you, your company, or an idea, there are new people who will need to tell your story, and that work never ends.

What can’t you live without? Maybe my books. I read all the time, and it’s my favorite way to receive new stories (otherwise, I could say my dog ​​and my husband, but I can’t read them as “things”!).

Is there a name, company, or your favorite artist? I’ve always been impressed with MACRO Entertainment and what they’ve built – the kind of content they produce (they’ve made some of my favorite movies) and the different business segments they’ve created. a remarkable example, in my opinion, of a media company that transcends form and industry.

What’s hot for you about your industry or life in general? We need more podcasts! Seriously, I still think there’s a lot of variety to explore depending on the genre and format of podcasting, but I think a lot of listeners or producers get caught up in the number of… chart-topping chat podcasts.

If you weren’t the founder of Sonoro, what would you be doing? Every time I get a question like this I think of Sylvia Plath’s fig tree, but maybe I should have gone to book publishing (that’s what I would have thought of in high school) or some other universe where I when I could have them, like many of my generation, started. YouTube channel and has gone the route of digital content.

What podcast do you think everyone under 30 should be listening to? I hesitate to recommend anything based on age, simply because I’ve found that some of the best stories transcend age. But I would point to one of Sonoro’s recent publications: At night (debuts October 22nd) for a spooky pre-Halloween tale, narrated by the legendary Danny Trejo. And my favorite non-Sonoro thing recently is Worlds Beyond Number, an amazingly true podcast that’s one of the most exciting and world-building stories ever.