LA Venture Podcast

EPISODE 030

Michael Tam — Craft Ventures

February 10, 2020

Series A
Great chat with Michael Tam about Craft Ventures ($1-$15M), vertical labor marketplaces, Uber, his partners David Sacks, Bill Lee, Jeff Fluhr, Sky Dayton, and Michael's path into venture.



David Sacks posts: https://medium.com/@davidsacks [https://medium.com/@davidsacks]

Full transcript

David, I'm here today with Michael Tam and today after summit. So we're all a little scratchy. Michael is an L.A. investor, though. Craft is an asset fund, as I understand it. And before Craft, Michael was at cross-cut and at Uber before that, doing some mix of business and operations.

I'm curious here about all of those things, but maybe when we start what we've learned is starting with the basics of Craft, just to get that up front in terms of how big a fund it is and who the partners are.

It was. And thank you for being here now.

Thanks for having me. Welcome. Elway Ventures and you know, a very smart podcast. Good for the ecosystem. So, yes, Craft is an asset based fund. I happen to be the only full time L.A. based investor. I actually have a New York counterpart. So he's somewhat distributed. The fund is relatively new, investing at a fund to fund shoes, a little over 500 million.

Oh, wow. Yeah, that's big. Yeah. Pretty big, especially for L.A. Fun. One is 350 fun, too. We started actively investing out of it. Q2 of last year. Twenty nineteen. Both funds sector agnostic.