Phil Wickham is Executive Managing Director at Sozo Ventures, a Silicon Valley venture capital firm that specializes in helping startups become global category leaders by expanding to Asia and the world via Japan. They have deep connections with many of the largest and most prestigious Japanese corporations, which are also investors in their funds. Phil was also the longtime Executive Chairman, President, and CEO of the Center for Venture Education, the foundation that oversees the Kauffman Fellows Program, the most prestigious venture capital fellowship program in the world. In addition, he was an early advisor to the well-known Swedish venture capital firm Creandum. In this episode, he discusses the strategies used by Sozo Ventures to help startups successfully enter the Japanese market and expand to Asia and the world. Sozo Ventures has been an investor in many successful startups including Twitter, Square, Palantir, Coinbase, and Zoom, helping those startups plan and execute their expansion into the Japanese market.

Next Unicorn podcast episode 10. Also available on 🎥 YouTube here: https://www.youtube.com/@NextUnicorn

If you like this episode, check out out other episodes too!

Follow Phil Wickham:
🐦Twitter: https://x.com/PhilWickham2

Follow Sasha Earnheart-Gold:
🐦Twitter: https://x.com/EarnheartGold
📸Instagram: https://www.instagram.com/earnheartgold/
📬Subscribe to the Next Unicorn email newsletter on Substack: https://nextunicorn.substack.com

Video Contents:
0:00:00 Teaser
0:01:38 Introduction
0:03:12 Sozo Ventures & Why it is Unique
0:07:17 Why a Startup Would Want Expand to Japan
0:09:42 How Startups Can Successfully Expand to the Japanese Market
0:28:54 US vs. European Startups and the Japanese Market
0:30:30 Understanding the Unique Structure of Japanese Corporations (Keiretsu)
0:35:11 3 Reasons Why Japan is a Gateway to a Startup's Global Expansion
0:39:22 How Sozo Ventures Works With Large Competing Japanese Corporations as LP Investors
0:43:35 How Sozo Ventures' Strategy Has Changed Over Time
0:47:27 Why a First Meeting With Sozo Ventures is Different Than at Other VC Firms
0:56:25 Phil's Time Running the Kauffman Fellows Program
1:00:09 Top Take-Aways for Startup Founders: Advice About Entering the Japanese Market
1:03:45 Examples of What a Startup's Successful Expansion to Japan Actually Looks Like
1:07:28 Is the current USD and Yen Currency Conversion a Considerations for Startups?
1:09:05 Artificial Intelligence (AI) and the Japanese Market
1:12:18 Artificial Intelligence (AI) Applications That Are Particularly Relevant for Japan
1:13:25 The Current Startup Ecosystem in Japan
1:36:48 Phil's Prediction for Startups in Tokyo, Japan's Importance for Global Startups & How to Best Reach Out to Phil
1:38:25 Phil's Personal and Career Background
1:51:10 Bonus Round

Credits:
Video/audio editor and engineer – Oleksii Kyrkach

Lars Leckie is a Managing Director at Aspenwood Ventures, a Silicon Valley venture capital firm specializing in early-stage enterprise software startups.

Aspenwood Ventures was rebranded from Hummer Winblad Venture Partners, the first venture capital firm focused exclusively on software. Founded in 1989, Hummer Winblad Ventures was incredibly successful from its first fund and operated for over 30 years as a pioneer in the enterprise software space. 🚀

The video version of this episode is also available on our 🎥 YouTube Channel: https://youtu.be/ZPQ5GLAYB5Y?si=oK3imhlKvY05FyiZ

If you like this episode, I think you'd also like our other episodes too. Please check them out.

Follow Lars Leckie
🐦Twitter: @LarsLeckie
🔗 LinkedIn: https://www.linkedin.com/in/larsleckie/
💻 Aspenwood Ventures Website: https://aspenwoodvc.com/team/

Follow Sasha Earnheart-Gold:
🐦 Twitter: @EarnheartGold
🔗 LinkedIn: https://www.linkedin.com/in/sashaearnheart-gold/
📸 Instagram: @EarnheartGold
📬 Subscribe to the Next Unicorn email newsletter on Substack: https://nextunicorn.substack.com
💻 Next Unicorn Podcast website: https://www.nextunicornpodcast.com/

Episode Contents:
0:00:00 Teaser
0:00:58 Introduction
0:02:23 What Makes Aspenwood Ventures Unique
0:04:31 Definition of Enterprise Software
0:09:34 Successful Investment in MuleSoft ($0 to $9.8 Billion)
0:11:05 More Examples of Successful Aspenwood Ventures Investments
0:12:17 Aspenwood Ventures Investment Thesis
0:14:23 Inflection Points in the Market That Can Lead to Startup Successes
0:15:09 AI & Opportunities for Startups
0:22:29 AI Startups that Aspenwood Ventures is Investing in
0:27:58 Investing in Enterprise Software in a More Saturated Market
0:33:36 What Made Your Most Successful VC Investments Successful?
0:38:35 Being Non-Consensus and Right vs Timeframe for Others Agreeing Soon Enough
0:41:27 Strategically Timing Your Market Entry for Success, and to Maximizing Runway
0:42:50 How to Get Large Customers to Buy From an Early-Stage Startup
0:44:50 How to Find the Best Early-Stage Startups, Founders & Startup Ideas
0:46:49 How to Find the Best Early-Stage Enterprise Software Startup Founders
0:48:09 How to Think About a Market Map of The Enterprise Software Space
0:52:18 Additional Thoughts on How to Think About VC Investment Thesis
0:56:06 What Lars Has Learned About How to be a Great Venture Capital Investor
0:57:16 The Best Way to Contact Lars
0:58:17 Additional Thoughts on the Future of Investing in Enterprise Software & AI
1:00:23 Lars' Personal Career Background & How he Got to Where he is Today
1:04:23 An Unexpected Aspect of Lars' Career Journey
1:05:31 Bonus Round

To support Next Unicorn Podcast, please press the "follow" button for the show on your podcast platform. Also, please take a moment to leave a 5-star review. And on Apple Podcasts, please also leave a few positive sentences as a written review. Thanks so much! 🙏

Credits:
Video/audio editor and engineer – Oleksii Kyrkach

Ian Chiu is a Managing Director at Owl Ventures, the largest EdTech (education technology) venture capital firm in the world, with over $2 billion under management. Owl Ventures is stage-flexible, investing in EdTech startups from seed through growth. The firm is also international, investing in EdTech startups throughout the world. Ian received an MBA at the Stanford Graduate School of Business (GSB), as well as a BS and MS from Stanford University.

To support Next Unicorn Podcast, please press the "follow" button for the show on your podcast platform. Also, please take a moment to leave a 5-star review. On Apple Podcasts, please consider also leaving a few positive sentences as a written review. Thanks so much! 🙏

📬 To keep up to date with new episodes, please consider subscribing to the Next Unicorn email newsletter on Substack: https://nextunicorn.substack.com

🎥 Next Unicorn Podcast is also available in video on our YouTube channel (Next Unicorn: The Next Great Startups & Founders). Just search for "Next Unicorn" on YouTube. YouTube channel link: https://www.youtube.com/@NextUnicorn

This is Next Unicorn Podcast episode 8. The video version of this episode is available on the Next Unicorn YouTube channel: https://youtu.be/U_ZYwHqkWiA?si=p15gEznpG5pNlo0Q

If you like this episode, you may also like episode 7 (Top Startup Accelerator Reveals How it Helps Startups Succeed), an interview with Ajay Kamat, the head of PearX, one of the top startup accelerators in the San Francisco Bay Area. The video version of that episode is available on YouTube: https://youtu.be/SNbS7mTW2PE?si=TysiEHVFgmKZSf8y

Follow Ian Chiu:
🐦Twitter: https://x.com/OwlVC

Follow Sasha Earnheart-Gold:
🐦Twitter: https://x.com/EarnheartGold
📸Instagram: https://www.instagram.com/earnheartgold/
📬Subscribe to the Next Unicorn email newsletter on Substack: https://nextunicorn.substack.com
💻Next Unicorn website: https://www.nextunicornpodcast.com/

Video Contents:
0:00:00 Teaser Clip
0:00:58 Introduction
0:01:46 How Owl Ventures is a Unique EdTech VC Firm
0:04:36 Owl Ventures Investment Thesis around EdTech
0:05:53 Types of EdTech Startups Owl Ventures is Currently Focused on
0:06:50 Examples of EdTech Startups in the Owl Ventures Portfolio
0:09:41 The Future of Education – will Education in 10-20 Years Look Dramatically Different?
0:22:23 Does Remote Learning Really Work? What Did we Learn During Covid about Remote Learning?
0:28:21 Use of Remote Learning and EdTech vs. Socialization, Emotional Growth, and Mental Health
0:32:33 How to Think About a Market Map of EdTech
0:35:20 The Most Intriguing Areas of EdTech for Aspiring Founders to Focus on Right Now
0:40:23 How Will AI Change Education? And How Can AI Improve Education?
0:44:50 Avoiding the Dystopian Vision of AI in Education
0:51:19 How Does Education Need to Change to Prepare Students for a World Where AI is Very Present?
0:54:02 How LLMs (Large Language Models), like Chat GPT, are Affecting Owl Ventures' Investment Decisions
0:58:52 The Best Opportunities for AI EdTech Startups Right Now (Given the Strength of LLMs)
1:03:15 The Most Intriguing Areas for AI in EdTech for Aspiring Founders & Most Interesting Kinds of AI EdTech Startups Right Now
1:08:02 Final Thoughts on the Future of EdTech
1:13:13 Ian's Personal & Career Journey
1:17:41 An Unexpected Aspect of Ian's Career Path
1:21:29 Bonus Round

Credits:
Video/audio editor and engineer – Oleksii Kyrkach