This week’s episode of Funding & Disrupting presented by Oura Collective welcomes Nicholas Cocks, Founder & Managing Partner of Velocity Ventures & Hans Paul, Co-Founder & CEO of Aigens. Keith interviews the two guests to discuss and know more about their journey of funding and disrupting.
In the fascinating double interview, both Nicholas and Hans open up and talk about all things funding. They also share their entrepreneurial journey stories.
How it all started for Nicholas & Hans?
In the podcast, Keith Herman finds himself relating to the backstories of Nicholas and Hans. He could divulge how both his guests transitioned swiftly from their desk jobs to be entrepreneurs. Keith asks Nicholas about his journey so far. Nicholas tells how he got recruited on campus from The Australian National University at Arthur Andersen & Co. Being from an economics and accounting background, he worked for almost four years in the firm. Nicholas admits that he learned a lot from his job and gained a lot of experience. His dad was an entrepreneur, and so they used to travel a lot. One day Nicholas decided to start a concrete business in Indonesia. You’ll love the entire episode of how it went.
Nicholas further tells that his business excelled for six years, and later, he decided to sell that business. He also shares how he decided to take some time off before starting something new. Soon, he decided to start a business to support entrepreneurs on their journey, and it is how ‘Velocity Ventures’ got actualized.
Further, Keith asks Hans to share the transition story in his case. Hans tells how he moved to the US but decided to move back to Hongkong later. Hans tells how he always wanted to start a business of his own. It was at the time when his co-worker Peter offered a business idea to him, and he decided to be a part of it. Keith, Hans, and Nicholas further discuss their commonalities.
All You Need to Know About: Velocity Ventures and Aigens
In the next section of the podcast, Keith asks Nicholas to share the idea and evolution of Velocity Ventures. Nicholas tells how he started a small private company and invested in nearly 15 early-stage businesses. He discusses how he learned venture capitalism here. Soon, Nicholas and his partner Patrick came together for new investment. They were investing in companies, helping them grow as partners, and exited after some time. It built a strong connection between Nicholas and Patrick. During COVID times, they came together with the idea of Velocity Ventures. It is a venture capital firm targeting travel and hospitality businesses that are transforming.
Keith further asks Hans to share the idea and story behind Aigens. Hans tells the unique concept behind Aigens. He says the firm offers digital food ordering for restaurants. Hans emphasizes how COVID times and lockdowns led to more takeaways and home deliveries. Physical orders were declining, so he came up with the idea of an easy food ordering system that can utilize kiosks and mobile phones. People can order food and make payments easily, making it a win-win situation for both.
The First Meeting between Nicholas and Hans
You’ll be amazed to know that Nicholas Cocks and Hans Paul have only met virtually. Yes, it is surprising! Keith asks Hans how he came to know about Velocity Ventures. Hans reveals that he liked the idea of how Velocity Ventures is more aligned towards the hospitality and travel sectors. Hans recalls meeting them a year ago and feels they formed great chemistry in their values.
The startling part is that Nicholas resides in Singapore and Hans lives in Hong Kong. So, they have virtually met and are funding partners. Keith asks Nicholas and Hans about their views and challenges of virtual meetings. They discuss how fixing deals on screen can be challenging but not impossible. Although building trust is hard, but it can work if both parties agree.
Hans feels it is not necessary to meet in person for investments. Nicholas adds that being COVID timed funding company, they were looking for contactless partnerships. He also tells how the multiple delivery platforms of Hans will accelerate business during such unprecedented times. It took around 7-8 months from the first meeting to final funding.
Challenges & Advice for Entrepreneurs by Entrepreneurs
Being an entrepreneur himself, Keith asks Nicholas and Hans how their entrepreneurial journey went and what challenges they faced.
Hans opens up about moving to a different country and starting something of his own. He tells how uncertain everything seems initially, and it feels like a roller-coaster ride. Hans tells how when he decided to start a business, he thought that even if it didn’t work, he’ll enjoy the journey. Both Nicholas and Hans agree on how pushing but rewarding a business can be as you cannot mess up things.
Hans also adds how you feel passionate about something but cannot let your emotions overpower you. He even asks the budding entrepreneurs not to make decisions being emotional. When Keith asks his guests to give some fruitful advice to the budding entrepreneurs, Hans shares some note-taking points. He says, “If you have a dream, do it.” He even adds that it is better to regret making a mistake than not trying at all. We all can relate to Hans as we feel lost, frustrated, or feel like giving up during our journey.
To this, Nicholas adds the challenges he faced during his initial corporate days. He tells how he got exposed to a US dollar debt in his company. His company has to face enormous losses due to the exchange rate differences. Nicholas advises budding entrepreneurs not to give up as such challenges make them better people and businessmen. He agrees that businesses are all about highs and lows. However, the entrepreneurs who pass through such challenges become vigorous and better people.
Podcast Story Notes
- The backstory of Nicholas and Hans
- Challenges of being an entrepreneur
- Are virtual funding meetings possible?
- Evolution of Velocity Ventures & Aigens
- Advice for budding entrepreneurs