Brett Kelly shares the 7 gems gleaned from interviewing Bill Ferris , Australia's first venture capital firm. Bill co-founded CHAMP Private Equity with Joe Skrzynski, and was made a Companion of the Order of Australia for his philanthropy. I can’t wait to have Brett do a knowledge share at #Referronlive
1. Start where you can see everything.
The mail room was "fantastically interesting." He learned a lot early on from a big business.
2. Invite interesting people in.
He asked businessman David Stone to speak to the Australian club at Harvard. Stone later backed half his first fund. He also introduced Bill to his niece, Lea, who became Bill's wife.
3. Make the "why not" case.
His Harvard thesis argued Australia could be "more than just a very successful quarry."
4. Go first, but respect the risk
"I didn't want to miss an opportunity. In retrospect, I got a bit ahead of myself - I let the excitement trump the risks."
5. Don't be greedy.
They sold LookSmart weeks before the tech crash and made over a hundred times their money. "Sometimes, timing can trump analysis."
6. Pick a partner who balances you.
With Joe for 30 years. "I'm in the why-not camp and Joe will be in the what-if camp."
7. Give time away from the start.
From day one, he and Joe each gave half a day a week to public good. It grew to several days.
His motto, the old Franciscan tenet: "In giving is receiving."
The lesson he would pass on to his kids and grandkids:
"Pursue what you really enjoy and don't give up. It's good to dream a bit, too."
From Brett’s book Investment Wisdom (2019).
Investment
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