I have the best job in the world.
I have said this before, but I believe it’s true. I get to travel all over the world and speak about entrepreneurship, leadership and innovation. Every day, I get to meet interesting people doing work that has an impact. The impact ranges from helping a few people in your community to changing the world.
Founder Gil Ben Artzy shares his best practices. (Photo Credit: UpWest Labs)
UpWest Labs is a unique example of a fund impacting the future by seeking out the perfect combination of bold entrepreneurs, large market opportunities and cutting edge innovation. It invests in the most promising Israeli entrepreneurs looking to build successful global companies based in the U.S. UpWest’s unique focus on investing in aspirational leaders makes this a fund for both entrepreneurs and investors to keep in their sights. They are identifying and investing in successful company after successful company.
What started as a dream just over four years ago has grown into a breeding ground for the growth and success of aspiring entrepreneurs. To date, the UpWest portfolio companies have raised over $200 million from leading U.S. funds that include Accel, BlueRun Ventures, Charles River Ventures, Norwest Venture Partners, Third Point Ventures and Tiger Global. Among UpWest diverse portfolio, you can find Silicon Valley-based SentinelOne, HoneyBook and Neura, and NYC-based Keywee.
I wanted to better understand the secret of their investment decisions, so I met with the partners at UpWest Labs Gil Ben-Artzy, Shuly Galili and Liron Petrushka to discuss how they chose entrepreneurs in which to invest. Here are some of the lessons I pulled from our time together.
Look For Leadership DNA
By default, they are looking at investing in opportunities with significant markets in a variety of industries. However, first and foremost they focus on identifying exceptional entrepreneurs with the leadership DNA to create, build and grow a big, global company. UpWest Labs looks for entrepreneurs that are aspirational, see the big picture and embrace a grand opportunity when it arises.
Don’t Underestimate Aspiration
UpWest embarks on an extremely in-depth process to select only those entrepreneurs that have the aspirations to become a major global player in their industry. It is betting on people who will impact and influence their industries whether disrupting existing models or ground-breaking in the latest technology. Their portfolio companies tackle big opportunities in a variety of areas including: cloud infrastructure, drone technologies, augmented reality, machine intelligence, cyber security, etc. Their entrepreneurs want to change the world. That’s a good place to start.
Think Big, Connect Locally
UpWest is rigorous in their demands for entrepreneurs to “think big” from the onset. They also know that big thinking means changing their mindset and stepping outside of comfort zones and playing in the big league. This is why they believe entrepreneurs need to be based in the U.S. close to their key partners, customers and investors. UpWest sets out to create a fund that provides entrepreneurs access to significant resources, mentors and investors, accelerating their time to market and growth.
In It For The Long Run
Just as they expect from their entrepreneurs, UpWest takes long-term view on investing through an extremely hands-on approach and by helping their entrepreneurs accelerate their time to market, capital and talent. UpWest also continues investing in their startups throughout their growth process. Their portfolio companies see them as an extension to the executive team rather than investors or board members.
It is a true skill to identify true talent, especially among entrepreneurs. Most investors know that more than nine out of 10 of their investments will fail. But somehow, UpWest makes magic happen. They know how to identify talent, build their entrepreneurs up, and prepare them for success. I left the interview feeling ready to take on global challenges and inspire others to do the same.
Which is just another day at UpWest.
Brian Rashid is a professional speaker, trainer and writer about innovation, entrepreneurship and the future of work. Say hi at connect@brianrashid.com.
