Vibe Capital: Venture Capital for International Founders

Ankur Nagpal Launches Vibe Capital Following Teachable Success

Entrepreneur Ankur Nagpal, having dedicated seven years to developing Teachable – a platform empowering educators to establish thriving online businesses – is now focusing on supporting other founders. He secured only $12.5 million in funding prior to the sale of Teachable to Hotmart, a transaction valued at approximately $250 million.

A New Approach to Venture Capital

In a landscape increasingly populated by new fund managers, Nagpal’s core proposition centers on the desire of founders for guidance from individuals they perceive as equals. Entrepreneurs are seeking investment from those who understand their pace and operate on a similar level – essentially, investors with whom they connect on a personal level.

Introducing Vibe Capital: A $60 Million Fund

Reflecting this philosophy, Nagpal has officially launched Vibe Capital, a $60 million fund designed to invest in pre-seed and seed stage startups across diverse sectors. A particular emphasis will be placed on companies within the physical and mental health spaces.

The fund intends to secure an additional $10 million following its initial launch, sourced from the community and other Limited Partners (LPs) through the AngelList platform.

Addressing a Growing Market

Nagpal observes that the proliferation of funds actually increases the likelihood of founders discovering investors with whom they genuinely resonate. He draws a parallel to the experience within Teachable, where an expanding pool of instructors facilitated stronger connections between educators and students.

Focus on Emerging Markets

Vibe Capital intends to distinguish itself by actively seeking out and investing in exceptionally talented founders. This commitment extends geographically, with approximately half of its investments targeted towards emerging markets.

Nagpal highlights a scarcity of operator-led solo General Partner (GP) funds concentrating outside of the United States.

Global Investment Strategy

The fund’s initial ten investments include companies based in Portugal, Kenya, Zambia, Canada, Pakistan, India, and Chile, demonstrating a broad international outlook.

This global perspective is deeply rooted in Nagpal’s personal background as a first-generation American with extensive international experience.

Immersive Investment Approach

Nagpal plans to immerse himself in the regions where he intends to invest, spending three to four weeks at a time living and working locally. He is scheduled to spend a month in India in December, two months in Latin America in January, and will identify a new location in the spring.

Proactive Wellness as a Key Investment Area

A significant area of focus for Vibe Capital will be proactive wellness, a sector gaining momentum as evidenced by the growth of startups specializing in hormonal health.

The fund’s website emphasizes a shift towards preventative healthcare, stating, “We are extremely interested in businesses that proactively enable people to be their best physical and mental selves.”

Prior Investment Success

This isn’t Nagpal’s initial venture into investment. He previously launched an $11.75 million fund last spring, which yielded impressive results. Portfolio companies experienced significant mark-ups, resulting in a net internal rate of return of approximately 70% (on paper).

Acknowledging Market Influences

Nagpal acknowledges the difficulty in isolating portfolio performance from broader market conditions, a sentiment shared by many emerging fund managers.

Spearhead’s Support

Nagpal participated in Spearhead, a program founded by Naval Ravikant of AngelList and Jeff Fagnan of Accomplice, designed to assist promising founders in becoming investors. Spearhead provided Nagpal with investable capital and legal support, and is now an investor in Vibe Capital.

This demonstrates the potential for emerging fund managers to scale beyond micro-funds and establish institutionally-backed investment vehicles.

Notable Limited Partners

Vibe Capital’s Limited Partners include prominent venture capital firms such as Bessemer Venture Partners, Tribe Capital, and Foundation Capital. Individual investors include Deborah Quazzo of GSV, Andrew Chen of Andresseen Horowitz, Sheel Mohnot of Better Tomorrow Ventures, Sahil Lavinigia of Gumroad, and Christine Tao of Sounding Board.