Defy, the early-stage challenge investment firm founded by Neil Sequeira and Trae Vassallo, is placing a brand unusual twist on the challenge partner model as it brings Brian Lee and Sujal Patel on board to support out with investing and guiding companies within the firm’s portfolio.
Perfect don’t name them challenge companions.
Vassallo and Sequeira derive the term “sage” to record the oldsters they’re taking a specialize in to lift in to support mentor their companies.
Here’s how the two record it in a blog put up regarding the unusual program:
Endeavor partner, working partner, entrepreneur in space, advisor etc, so many names and so many substitute implementations, so we determined to simply give our uncommon relationship it’s accumulate name- a Story.
A “sage” is somebody intellectual via reflection and skills and we opinion that perfectly encapsulates what these lively working executives lift to Defy. As talented multi-time operators, seed merchants and most up-to-date CEOs, Defy Sages lift their working skills, domain files, and networks to support our portfolio.
Each and each Lee, a Los Angeles-primarily based solely serial entrepreneur who founded or co-founded Unbiased Co., Shoedazzle and LegalZoom; and Patel, whose deep background in enterprise instrument comes from years spent as a co-founder and govt of Isilon Systems and later at EMC, are “longtime buddies of the firm” in line with an interview with both Sequeira and Vassallo.
Through its twist on the challenge partner model, which Defy is calling a “sage” program, the advisors obtain an even bigger share within the upside at a fund and particular particular person deal degree. “There is lift at some stage within the fund and on any particular particular person firm they’re fascinated about,” Sequeira acknowledged in an interview.
For Lee, who’s working the Los Angeles-primarily based solely early-stage user investment noteBAM Ventures,the agreement with Defy is an opportunity to belief early-stage executives exterior of his network and obtain exposure for among the companies in his portfolio. “It’s nearly a backstop for BAM Ventures,” acknowledged Lee.
Defy’s technique hasn’t modified. The firm will aloof be investing in aged Series A deals — the $3 million to $10 million rounds that many companies now aid in mind to be seed stage.
“Our purpose is to compose a trusty-sized firm, which formulation we can’t cope with on tons of oldsters or we turn out within the identical slope of all americans else where extra folks equals bigger fund which indirectly leads to bigger tests,” Defy’s two founders wrote in a blog put up asserting the Story program.
Already the program has borne fruit, with Lee investing beside Defy within the cannabinoid product developer Prima,launched by Unbiased Co. co-founder Christopher Gavigan, and Shujinko receiving enhance from Patelas segment of its initial $2.8 million spherical.
And Defy hopes to lift other companions on board to invent powerful extra sage advice for the firm’s growing portfolio.