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Investor Wesley Chan has a proven track record of spotting potential unicorns early on, like Plaid, Gusto, Flexport, and the recent addition, Canva.
From Lucky Breaks to Success
Chan’s journey from washing test tubes in a lab to becoming a successful investor has been filled with serendipity. His success underscores the role of luck and timing in any venture. According to Chan, the best founders understand how to capitalize on timing to their advantage.
The Search for the Next Unicorn
When seeking out the next unicorn, Chan looks for founders who possess a strong conviction in solving pressing issues with unique insights, similar to Sergey Brin and Larry Page. He emphasizes the importance of building a great product first, rather than focusing on acquiring customers or growth through spending.
Chan’s Approach to Finding Founders
Chan doesn’t scout for founders at events but relies on recommendations from his network of founders. This approach ensures that he connects with entrepreneurs who come highly recommended for their innovative products and vision.
In a nutshell, Chan’s success in spotting unicorns lies in recognizing founders who prioritize product excellence and have the potential to revolutionize their respective industries.
