Investing legend Ann Winblad on funding software unicorns, finding talent & auditioning the future

Hummer Winblad Venture Partners was founded in 1989 as the first VC fund to invest exclusively in software companies. Today Jason sits down Ann Winblad, technology investing legend and the firm’s Co-founder and Managing Director. Jason and Ann discuss Ann’s journey as an entrepreneur and a wide range of riveting topics: how Ann started her first company Open Systems in 1976 and sold it for $16m in cash in 1983 (an enormous sum then!), how there was only $350m invested in software in 1990 versus $23b in 2014, their unicorn-filled first fund w/ 8 of 16 investments going public, companies Ann wished they invested in, qualities she looks for in entrepreneurs, why companies go under, why A-round investing is so much fun but so few do it, why enterprise software is not in a bubble, why Bill Gates was the most impressive entrepreneur in the 1980’s (and what it was like dating him), her experiences as a woman in venture capital, being optimistic about the world’s future while concerned about America’s, and much more! Never miss an episode! Subscribe in iTunes: Audio (http://bit.ly/TwiStA) || Video (http://bit.ly/TwiStV) Full show notes: http://goo.gl/bMth7R ============== Thanks to our sponsors. Click here to tweet your support (can edit before sending): http://ctt.ec/V9UMC Scott Walker at Walker Corporate Law. Scott loves startups and shows it, with fixed-fee pricing. Have a question? Email him directly at scott@walkercorporatelaw.com and tell him Jason sent you. HostGator.com, your one stop shop to getting your business online. Your domain name, your website, your website design, and even your marketing, they've got you covered. Have questions? Their team is there 24/7 via chat, phone, and email to help you. Start today for 30% off hosting with coupon code “twist.” ============== Follow: http://twitter.com/humwin http://twitter.com/jason http://twitter.com/twiStartups Launch Ticker: http://launch.co Launch Festival: http://festival.launch.co Special thanks to the members of the TWiST Backchannel! Support TWiST and join the Backchannel: https://recurrency.us/members/twistartups Show notes powered by The Podcast Wire. Subscribe here: www.thepodcastwire.com Top Show Links On Ann's History On Software Vs. Hardware On Ann's Venture Fund Hummer Winblad On the Success of Their First Fund On the Public Markets On A-Round Investing On Economic Bubbles On Seed Investing On Fundraising On Bill Gates and Steve Jobs On the Amazon Workplace On Being a Woman VC On the Future

Comments

1. She had a 50% success rate??? Did I hear that right? lol
2. Best interview in a while, need to invite more veterans.
3. This was really a great interview. Ann has amazing insight here.