Scot Wingo - founder of Spiffy and Triangle Tweener Fund

Value Drivers

Show Notes

[01:18] Scot gave a brief outline of his background. Scot has a technology background and two career journeys: a serial entrepreneur and investor/enthusiast/mentor of entrepreneurship.

[03:29] Scot provided a high level overview of Spiffy, a mobile car care company which is nationwide. The team is trying to build Starbucks for car care.

[05:03] Scot took a deeper dive into where he got the idea of Spiffy from. Spiffy follows two important themes: services are going digital and customers want fast and seamless experience (control through an app).

[08:09] Scot shared the key market segment of Spiffy (e.g. rental car companies, fleet). They value time and convenience as they use the time saved to generate revenue.

[10:29] Scot discussed the genesis of Triangle Tweener Fund. He started the Tweeter List in 2015 (50 companies). He ended up drawing a line from a million annualized run rate to 80 million. He did this every year.

[14:49] Scot discussed why the concept of Triangle Tweener fund can be applicable/relevant in other local markets.

[18:04] The return distribution of typical VC fund was discussed. Scot shared with the audience why the Triangle Tweener fund may work well by not missing any long-tail big winners.

[22:10] The current investment algorithm of the Triangle Tweener Fund was discussed.

[24:16] Scot shared the approach of light touch due diligence used at the Triangle Tweener Fund.

[26:35] Scot highlighted some of the key elements of funding success. He believes that one of the most important factors is whether the founder has the “twinkles” in his/her eyes (passion and greed).

[29:57] The funding trend and entrepreneur climate at the RTP area was discussed.

[32:29] Scot shared with the audience how he balances growth and profitability of Spiffy by using a bottom-up and top-down approach.

The Cold Start Problem: How to Start and Scale Network Effects by Andrew Chen

https://www.amazon.com/Cold-Start-Problem-Andrew-Chen/dp/0062969749

Resources:

https://www.getspiffy.com/

Stay Updated:

Please visit Brio360 on other episodes and resources on driving value creation

https://brio360.com

Follow our host:

https://linkedin.com/in/peterhocm

Please note that information provided in the podcast is for informational and educational purposes only and is not a recommendation to take any particular action, nor an offer or solicitation to buy or sell any securities or services presented. It is not investment advice. Brio360 does not provide legal or tax advice.