YZ Yuanzhe Fu + YY Yuyan Wang, founders of YUVC are joined by Dr. Han Shen, Founding Partner at iFly.vc on the YUVC Podcast.

YUVC had a brunch chat in Shanghai with Dr. Han Shen, founding partner of iFly.vc, a US-based early-stage consumer VC fund.

Dr. Shen is an early investor of Oculus, Weee!, and beyond.

A PhD in Chemistry from @UChicago and an MBA from @wharton , Dr. Shen broke into venture the hard way - visiting 100+ VCs at the Sand Hill Road, working for the series-C lead investor of @tesla (Vantage Point), joining Formation 8 and investing in Oculus (acquired by Facebook for $2b), and building his own fund iFly.vc and investing in @Weee_official the largest Asian fresh food e-commerce company in the U.S.

Highlights:

YZ: What’s the hardest part of building a venture capital fund?
Han: Consistently investing in the next big things.

YY: Your team setup and organizational culture?
Han: I’m a solo GP. I have operations team and associates. I remind them slow is fast, especially in one’s early years of VC.

YZ: Why was Weee!, your portfolio company and now the #1 Asian delivery app in the US, rejected by everyone?
Han: Some simply said TAM wasn’t big. But it wasn’t true. Minorities, including Asian, Hispanic, spend $360b on groceries. This market is under-served.

Chapters:

02:05 Entering VC in 2009
13:53 Investment Thesis of iFly.vc
34:57 the Next Big Thing

Links:

• Substack
• YouTube
• LinkedIn
• Apple Podcasts
• Spotify
• X
• 小红书
• Bilibili
• 36Kr

Talk to YUVC： https://open.firstory.me/user/clu0vzxex0qat01vncefi0w1s/comments