“Thank you for being so generous, you’ve taught me what I’ve learned in the world of investing. If we were just partners, we wouldn’t have the level of trust we have today as brothers.” Let Jose, the man who knows her best, break the cold winter ice.
He has his own slang dictionary. “What doesn’t eat are stories.” “Tell me in excel.” “Don’t throw at me ptich, “My bullsitometer has gone off.” “I don’t invest in projects, I invest in companies”, where is the businessman? “Are we going to speak using only the past tense of verbs?”. Tell me what you’ve done.” “I’m a fucking visionary.”
Luis Martín Cabidades (Madrid, 1960), a tall figure and an eternal shadow of the innovative ecosystem, is the gentleman. Jeans, white shirt and backpack. Perfect, as always. It is authentic. “What’s in the Cabaid’s Bag?”, A Matter of World Order. “My tablet, all my house keys, navigation glasses, medications, cables… and some underwear.”
rip, hard, enter marking the ‘BA’ sector (business angel),I don’t invest with other people’s money, we invest with our own I do what I want, I live a fucking life, I invest from my own portfolio, unlike investment funds, I have nothing to justify to anyone”, Badshah, brilliant, rational, “Cartesian” according to his brother Jose, untamed animal.
Thrust into territory, re-offense and mark. He is the captain of his boat too. “Many VC [ventures capital] They feed on public money, they look like officials ”, he does not point, but he bombards. “I don’t invest in startups that have some investment funds, I think, It is better to be a friend and not a partner than to be a partner and not a friend,
for cabidades”There are many bad funds asking entrepreneurs to trade their company for a lottery ticket., VCs need unicorns, not entrepreneurs, and many people don’t realize that.”
He continues obsessively, forcefully, inviting debate, “The VC battle has become a Formula 1 race, but it’s not good for the athletes (entrepreneurs), now it seems the one with the best car wins.” Is.” Not an athlete. with the best feet, and It is not necessary that the best people always win.”, he thinks.
But not all jungle is oregano, and mind you, for some, “I have jointly invested with JME Ventures, Seedrocket, 4Founders or Bonsai and many others, and I wouldn’t mind walking side by side with Keebo, He says, “As investors I really like Gonzalo Tradesete de Faradai, Jesús Monleon, François Derbais, Marek Fodor…”
Cabides & Partners, the family company through which it invests in startups, Do not avoid participating in the competition. Its captain is addicted to it, it is part of his DNA, he has been doing it successfully for three decades and in his personal life, he boasts of it every weekend on his sailing boat in Galicia, the Basque Country or Catalonia. It gives you warmth. Likes. drowns you
“Sometimes, there are VCs who have pressured the entrepreneur with valuations so much (don’t call it abuse) that they prompted me to double my bet”, the strategist, “if you’re going to invest at this price. Well, I’ll do it first”. Earthquake in sight.
It delves into one of the issues that concerns the investment ecosystem the most, “The problem is not in the rating you entered, but in the money you spent on marketing or Facebook adsThe key is in good use of money. I just want to know how much this company is worth so I know what percentage I own.”
and that is that “the Cabildo’s seal exists, Many VCs would prefer we weren’t at Startup, because we’re able to tolerate their betWe have the negotiating power for this”. A seal with the roots, reputation, essence of the existence of our ecosystem.
As his brother, José Martín Cabidez, entered the equation, “things have changed, many entrepreneurs, when he takes them, say: I have good. And it is that he is very good, a pure investor, And since I’m so outspoken…”. “Sometimes they confuse us or think we’re just one person, we get many E-mail He puts: To the attention of José Luis ”, he irons.
To him, “Lewis is my older brother. I share a lot of family values with him, a person I have great affection for, a very curious person, and very loyal, a tireless and unattainable worker, few people match his level of dedication. Work has a big place in your life. This is a very solid pattern. He grabs hold of the stick and knows where to go because of the wind”. Both agree, “We call each other once a day, we ask each other about family for a minute, and we go to work.”
luis martin cabides Not a good sign for the investment world, “Everyone who invested made money from 30 years ago to today, investing was useless. In startups, in real estate, even in cryptocurrencies, we all won.” But “returns have changed, I don’t see a good position for years of good returns.”
“In the next ten years we’re going to see who’s good and who’s not”, he walks away with rudder in hand, “at low tide we’re going to see who was swimming naked”. In his particular case, “My first fund in 2012 was great, 2016 regular, 2019 fund not bad, and now, now bad”, because “We are reducing investments, in 2021 we invest in four companies and in 2022 in three”,
His other passion is being an entrepreneur. thousands pitch behind his back. Some yes, specific dictionary of ‘no’. “You ask me whether I have done injustice to any entrepreneur? “No. I’ve been very harsh and crude, but no one can say I’ve been unfair. Compulsive.” The worst thing isn’t that they want to deceive you, it’s that they’re deceiving themselves. , you have to tell them the truth, not dodge the bullet.”
“There are entrepreneurs who openly say that their role is to raise funds, companies to live off of their customers”, updating the 2023 edition of Angel Investor. because, “It’s good to have someone to help you think about whether or not you should stop.You have to know how to retire on time, persistence is more important, but for me quitting is a virtue” Cabides Dixit,
To ignite the successful entrepreneurs he invests in, mentors and puts them in their place, our lead investors are clear about the limits today, “A company has no solution when the market does not respond and financial problems, You can have the best product, the best team, but if the market doesn’t respond…”
Its focus and its mission are defined as the Our Fathers, emphatically, succinctly, “I am not dedicated to saving companies, I’m not an ATM, this is where you come when you have an investment projectit is not the role of a business angel Save the companies”, famous for the posterity of follow on Today, phrases to anchor in a post it In the fridge in pure Jesús Alonso Gallo style.
Realistic, practical, Darwinian. “I don’t mind picking up the phone and being clear: We’ve lost it, fuck it. You have to accept it, you have to start with the idea that everything is random, that no one is to blame, Entrepreneur One has to know that he is playing with the odds and in many cases it is not his fault”. Resistance doesn’t always make you a winner.
But the stark reality is there is another path to success than failure. His clinical eye has failed him many times, began his first term as business angel, where he got the biggest returns with Ole saying “we were almost founders, we multiplied the investment by 100”. Then came Prevalia “where we did a x40”, Blablacar “a exit Fractional X13 ”, or Trovit.
In total, more than 140 invested companies where they have large stakes such as We Are Knitters or Indexa CapitalLed by the great François Derbais, a man “with whom it scares me how much we agree on everything, we think so much alike, that sometimes we even celebrate not having the same opinion on a subject. I hope Indexa is my next big success.”
business angel Today, the national community asserts more than ever, as they do through the Big Bag Investors Association, thanks to which I first met Luis Martin Cabidess, a philosopher and serious reader of Daniel Kahneman and Nassim Nicolas Taleb, Whose father was Some friends’ daughters once mistook them for God, their long hair and beard are a sign, but no, I just “live like God.”