The success of past internet-driven platforms and services and their big-sized userbases can trick you to think of the internet as a mass medium but it isn’t. The internet is an aggregation of micro media and trying to target everybody will never help you go further.
Being specific about who is it for is the path forward.
Cleo Capital is a thesis-driven fund, focused on 3 key areas: The Future of Income, Complicated Consumer, and Decentralized Enterprise. We primarily lead rounds at Pre-Seed, working with amazing founders from day zero. This article is part of a series explaining our thesis areas and the specific markets we are interested in.
From this pitch, you can clearly see who Cleo Capital is for.
It is for startups innovating in 3 key areas which are the Future of Income, Complicated Consumer, and Decentralized Enterprise. Cleo Capital can certainly target all these 3 areas but you can be more specific with your VC fund by being more specific.
Why not addressing only startups founded by black women? what if the startups should target a specific industry or a specific problem like diversity in tech?
By narrowing the audience of your fund, you are giving yourself more chance for your message to resonates with those for whom it is for and funds like Cleo Capital will more likely be interested to have a stake in your fund.
if what you are doing is for everybody, it is very likely that it will be for nobody at all.
If your fund is for Black women funders you will be targeting a subset of the audience targetted by Female Funders Funds, another fund which like Cleo Capital is trying to fund ideas, solutions, platforms, startups that matter for the world.
by doing this, it will be like you are trying to unbundle an already established fund. This concept is the main concept of this upcoming data-driven book below
But this is not about competition but rather about competing with non-consumption by releasing new market opportunities and connecting people, ideas, startups, companies, and funds like I am trying to do with this article because I don't believe that Cleo Capital and Female Founders Funds are competing for working with skilled persons like Mbenda but they all are there for empowering entrepreneurs from every horizon.