Remote investment struggles for investors were clear from the get go: it’s challenging to invest millions in someone you have never met, and there’s not a lot to learn from “off-the-cuff” conversations that are calendared days in advance. Some investors said the pandemic was forcing them to stick with people they know in categories where they have experience, limiting the network that one can push money into.
Over six months into a global pandemic, though, new techniques are emerging to address some of these woes. The very art of a deal, from due diligence to sourcing, is changing from a cultural and technological standpoint.
One of the new places that recreates informal bonding and camaraderie is Matchbox.VC, formerly Fortnite.VC.
The service connects founders and investors over video games to network and source deals in a low-stress environment. Matchbox.VC was inspired from a tweet by Founders Fund principal Delian Asparouhov and has garnered interest from investors like Arjun Sethi from Tribe Capital, Ryan Shea, the ex-founder of Blockstack, Jake Chapman from AlphafundVC and Peter Rojas from Betaworks. Its last game night was backed by Yac, Tribe Capital and Shrug Capital.
The pitch is simple: founders and investors sign up on the website, answer basic questions about their focus, company and stage before picking three game choices from eight options that include Fortnite, COD: Warzone and Valorant.
Source From TechCrunch
Author: Natasha Mascarenhas