Jeremy Liew:9x Forbes Midas List investor,General Partner@Lightspeed on how to win
About Jeremy Liew
Jeremy Liew, a general partner at Lightspeed Venture Partners and a nine-time member of the Forbes Midas List, has been discussing his investment philosophy and approach to venture capital in a series of recent appearances. Liew emphasized the importance of pattern recognition in deal sourcing, stating that to identify a "one in a thousand company," an investor must have met thousands of companies, as "there is no substitute" for direct experience. He described the process of winning competitive deals as understanding one's "home ground advantage," which he defined as a specific domain expertise, network, or geography that gives an investor a unique edge over competitors. Liew noted that for him, this advantage was initially a deep understanding of consumer internet, a specialization that was rare when he joined Lightspeed in 2006. Liew also spoke about the role of trust in investor-founder relationships, arguing that it is "built in difficult situations" rather than before an investment is made. He cited his experience with The Honest Company, where a prior failed investment with co-founder Brian Lee led to a strong reference because Lightspeed remained supportive even when the company was struggling. Liew advised entrepreneurs to conduct reference checks on potential investors by speaking with founders of companies that did not succeed, as "not everybody is supportive and helpful and kind when things don't go well." He added that he has made approximately 75 investments over his career, noting that while he was enthusiastic about all of them, more than half lost money, but that Snapchat and Affirm each returned over a billion dollars.