![]() When we consider working with you as a founder, we look for your willingness to make these tradeoffs earlier in your life and career. The most successful entrepreneurs are willing to sacrifice in the short term for long-term impact. Being a founder is a constant, grueling exercise in deferring happiness and victory. But there are a few other things we haven’t seen written about or discussed enough that end up mattering a lot: Then there’s all the typical stuff: integrity, credibility, market understanding, learning ability, etc. This is an exceedingly rare set of skills - and it’s what we seek to find in every founder conversation we have. You have to be able to draw it yourself and execute at the same time. You can’t wait for someone to hand you a roadmap. You have to overcome inertia, have an unbelievable amount of conviction, and be willing to drive through brick walls. To mix our metaphors, before a founder starts building their castle, they have to make sure they’ve picked the right piece of land.īuilding an enduring company is ridiculously hard. First-party retailers are valued very differently from third-party ecommerce sites. SaaS companies have a different range of opportunities than on-premise software makers. ![]() Let’s say you win the whole thing - is the prize worth winning? The game is long and hard, and some markets are more rewarding than others. Third, we take a close look at the market you’re going after. As an extension of this, we want to see creative thinking around go-to-market strategy as well as product. That’s one of the strongest data points you can offer. If there are people using your product or service who wouldn’t know what to do without you, we want to hear about it. We reached out to the company and invested. Several years ago, we heard a handful of the founders in our community raving about a new business intelligence tool called Looker. Second, if you have a product in market, a small group of passionate early customers is a strong indicator for us. What do you understand about a market or a need that no one else does or that other companies in the space get wrong? And why is your company the most likely to win at addressing this gap? The Brickell Financial District, which is now home to Ken Griffin’s Citadel and Citadel Securities’ headquarters, also has caught apartment and condo developers’ eyes.Above all, we look for compelling and contrarian insight into how the world works. Golub paid $10 million in 2021 for the vacant campus site at Northeast 126th and 127th streets and two parking lots at 1660 Northeast 127th Street and 12600 Northeast 17th Avenue. In North Miami, they are investment partners in Chicago-based Golub & Co.s’ 450-unit multifamily building on a portion of the closed Johnson & Wales University campus. ![]() Yet, LORE paid much more than that for its slice of Brickell: The $35 million purchase price equates to $70 million per acre.īefore starting LORE, Leste and Opportunity have been investing in projects in the U.S. High interest rates led to a cooling of Miami development sites’ prices, which hit $19.3 million per acre late last year. LORE partly is betting on its connections in the alternative lending realm to score the “right capital,” de Sabrit said. LORE’s development comes as many South Florida developers are pausing their projects because of expensive financing, costly construction materials and labor, and skyrocketing insurance rates. ![]()
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