Oren Zeev: How I Raised $1 BILLION in 12 Months | 20VC #888

ℹ️ EPISODE INFO

Released

May 24, 2022

Duration

1h 1m

Channel

The Twenty Minute VC

Watch on YouTube

▶ Open ↗

📝 EPISODE DESCRIPTION

Oren Zeev is the Founding Partner @ Zeev Ventures and one of the OGs of solo capitalism. Oren has an incredible portfolio including investments in Audible, Houzz, Chegg, Riverside, Tipalti, TripActions, and Firebolt to name a few. Oren is also very unlike any other VC firm, he does not employ any associates, principals, or staff. He doesn’t have partners or partner meetings. No LP meetings. No processes. No investment committees or memos. Nada. Oren is doing it differently. Prior to starting Zeev Ventures, Oren spent 12 years as a GP @ Apax Partners where he c-headed their technology practice in their Silicon Valley office. ------------------------------------ Chapters: 0:00 Origins into Venture 5:38 Deployment Pace 18:00 Ownership 24:45 Diversification 33:50 Price Sensitivity 40:44 Biggest Miss 47:55 Oren Zeev: AMA ------------------------------------ In Today’s Episode with Oren Zeev You Will Learn: 1.) Origins into Venture: How did Oren make his way into venture over 20 years ago? How does the crash of today compare to the dot com and 2008? What is the same? What is different? Why did Oren decide to leave Apax and start Zeev Ventures on his own? 2.) Deployment Pace: Why does Oren believe that the benefits of temporal diversification are overstated? Oren raised 3 funds and over $1BN in a year, how does this current environment impact how Oren thinks about deployment pace? Will he change anything? How does Oren explain deployment pace to LPs who question him? 3.) Ownership: How central a role does ownership play for Oren in terms of his investor psychology? Does Oren believe it is possible to increase your ownership in subsequent rounds, in your best companies? What are the biggest mistakes that big funds make with regards to ownership requirements? Why is there a misalignment between GP and LP when it comes to increasing ownership vs markups? 4.) Price Sensitivity: How does Oren evaluate his own relationship to price today? What have been some of Oren’s biggest lessons on price from his biggest wins and losses? What mistake do the majority of investors make when it comes to price? 5.) Diversification: Why does Oren believe that both GPs and LPs are wildly over-diversified in their portfolios? What is the right amount of companies for GPs to have in their portfolio? How does Oren advise LPs on the right amount of funds for them to be invested with? 6.) Oren Zeev: AMA: What does Oren know now that he wishes he had known when he started his career in venture? What elements of the world of LPs would Oren most like to change? Why does Oren feel that the concept of pro-rata is a lazy one? ------------------------------------ #OrenZeev #20VC #HarryStebbings #VentureCapital

🎤 SPEAKERS

• Harry Stebbings

  host

• Oren Zeev

  guest

• Narrator

  other

🧾 EPISODE SUMMARY

In this episode of The Twenty Minute VC, featuring Harry Stebbings and Oren Zeev, Oren Zeev: How I Raised $1 BILLION in 12 Months | 20VC #888 explores solo VC Oren Zeev Explains Billion-Dollar Fundraising And Contrarian Strategy Oren Zeev, a solo GP with a long track record in venture, discusses how he raised roughly $1.5B across multiple funds in rapid succession while ignoring conventional portfolio-construction dogma. He contrasts today’s downturn with the dot-com bust and 2008, arguing current pain is largely valuation-driven rather than business-fundamental driven. Zeev explains his opportunistic, founder-first investing style: no pacing targets, no ownership targets, minimal diversification, and aggressive follow-ons when his conviction exceeds the market’s. He critiques partnership dynamics, LP incentives, and standard VC practices such as vintage diversification, rigid ownership rules, and pro-rata obsession, positioning his model as structurally better aligned with founders.

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