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Announcing Matrix X

Today we are pleased to announce the close of Matrix X, our tenth early-stage technology-focused venture fund. We’d like to thank our limited partners for their incredible, longstanding support of our partnership and the great entrepreneurs that are the core of our business. Read More

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Treat your Angels Right

Before joining Matrix, I’ve had some experience with seed investors – I had a dozen or so of them at Betfair (Flutter), my first company, and then made a number of investments myself when my entrepreneurial investments began to bear fruit. The following advice comes out of my experience, and while I was not terrible at it, I can’t claim I did this perfectly as a founder – you learn from what you do wrong as well as right. Read More

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Startup Killer: the Cost of Customer Acquisition

In the many thousands of articles advising entrepreneurs on what they have to focus on to build successful startups, much has been written about three key factors: team, product and market, with particular focus on the importance of product/market fit. Failure to get product/market fit right is very likely the number 1 cause of startup failure. However in all these articles, I have not seen any discussion about what I believe is the second biggest cause of startup failure: the cost of acquiring customers turns out to be higher than expected, and exceeds the ability to monetize those customers. Read More

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