Valuations, IC and Moats by Jax Vullinghs (Partner - AirTree) | Startup Playbook Ep169

My guest for Ep169 of The Startup Playbook Podcast was Jax Vullinghs, Partner at AirTree Ventures.

Jax has had a fascinating journey to date.

She studied history in University before making a leap into the world of Investment Banking with Merrill Lynch.

After 2.5 years she joined a fast growing startup called Listable (that later rebranded to Kalo). Kalo went on to raise significant venture backing from leading VC funds.

In 2018, Jax moved to Australia and joined AirTree, one of Australia's leading VC funds, where she is a partner.

In this jam packed episode, you will see why I’m also over the moon about having Jax join The Playbook Angel Network, our new angel investment syndicate, as an advisor. We will be investing in early stage, high growth tech companies and we’re stoked to have Jax in our corner!

In this episode we covered a wide variety of topics including;
How Jax and AirTree assess seed stage opportunities and determine a valuation
What makes companies valuable over the long term
AirTree’s investment committee process
Jax and AirTree’s bet on Milkrun
The important role of angel investors in the ecosystem
& much more

Full show notes available at startupplaybook.co and subscribe to our newsletter at startupplaybook.substack.com

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A big thank you to our partners for this episode:
Lawpath
Lawpath’s Legal Advice Plan gives you access to lawyers on demand for one low monthly fee. Create legal documents, sign online and have a lawyer on-call to help you through any legal need for a fraction of the cost. Lawpath has helped Australian businesses save over $100 million in legal fees, and are offering Startup Playbook listeners up to 20% off their most popular legal plans. Visit lawpath.com/playbook for your exclusive discount and discover an easier way to get your legals sorted.

Scendar
We’re Scendar, an accounting and advisory practice better described as Finance as a Service (FaaS). We’re focused on founders, funders and startups. Clients that are ever-changing and adapting. We like fast movers. And as you might have guessed, we’re not your basic accountancy. We can take care of tax and the books whilst building a syndicate fund and a multi-million dollar exit strategy. At Scendar, we’re empowered by our client’s potential. Find out more at Scendar.com

Dovetail Studios
Dovetail Studios operates a venture studio and VC to transform ambitious ideas into unstoppable businesses. On top of being a renowned product development partner for startups like Afterpay, they also operate a VC fund to invest in early-stage companies that go through their venture studio program. So if you’re a non-technical, early-stage founder looking for a talented team to help supercharge your success, check out dovetailstudios.com

Credits:
Music: Ballpoint - Paycheck