1Mby1M Virtual Accelerator Investor Forum: With Shane Neman, Principal at Neman Ventures (Part 7)

Sramana Mitra: Have you met any entrepreneur who is trying to merge the world of art collecting and blockchain?

Shane Neman: I haven’t met them, but I have seen some decks.

Sramana Mitra: If you locate them, can you send them to me? I have a concept that merges those two. I am looking for an entrepreneur team to execute on that.

Shane Neman: There is a lot of tech being developed where they are giving you the tools to create your own NFT.

Sramana Mitra: No, I am looking for somebody who wants to run a marketplace of art collectors.

Shane Neman: I would imagine Sotheby’s and stuff will eventually move to that model too. They are starting to sell NFTs too. Those are the types of things that I have been looking at. I’ve done a robotic company. There is a company called RoboTires that I invested in that builds automated tire changes. They have already gotten some traction with some customers. Their technology is solid.

Sramana Mitra: I have an augmented company that is operating in the real estate market. That is the one that I will send you.

Shane Neman: That is the big thing right now especially with COVID. Before brokers physically see the place, they want to Facetime to determine if they want to see it.

Sramana Mitra: That requires the backend to be viable at scale.

Shane Neman: If you could do that, that would be great. You take one recording, they look in, and they see if they want to see it or not.

Sramana Mitra: Is Neman Ventures your money or do you have partners as well?

Shane Neman: It’s mostly my own. If I am doing a larger deal, I do an SPA. It’s usually just friends and family of mine that I know that would be interested in following along.

Sramana Mitra: What check sizes are you writing?

Shane Neman: I’ve written as low as $10,000 going up to $500,000. We have done larger ones but at later stages.

Sramana Mitra: When you do early-stage, you are comfortable with going in really early?

Shane Neman: Yes. When I invested in ResiDesk, they hadn’t built the product yet. I was confident that they could do it.

Sramana Mitra: Would you fund solo entrepreneurs?

Shane Neman: I would. I would really have to be on board and know it. I have no problem with it. That is not even a thing for me. I understand that it is a thing for some people but I don’t think like that.

Sramana Mitra: It has been a wonderful conversation. I’m sure our audience will love this.

Shane Neman: Just to mention, I did bootstrap several of my former employees with seed money. After EZ Texting and JoonBug, they got their own idea. I knew how good they were because I worked with them for years. That is the best place to invest.

Sramana Mitra: Wonderful journey. I love your story. Thank you for your time.

This segment is part 7 in the series : 1Mby1M Virtual Accelerator Investor Forum: With Shane Neman, Principal at Neman Ventures
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