Q&A with Ashley Flucas, head of Flucas Ventures
"Great ideas are a dime a dozen - but execution is everything."
Hi, there!
Today, I’d like to share with you my Q&A with Ashley Flucas, head of Flucas Ventures.
Ashley Flucas has invested in 250+ startups. She is the head of Flucas Ventures, a syndicate of 3,000+ venture capital investors (and growing). She serves as a partner at a South Florida-based real estate finance fund. She is also in the ownership group of the Nassau Coliseum sports and entertainment venue in New York.
She was previously an attorney in Davis Polk & Wardwell's London office, focusing on capital markets. Her experience spans real estate, venture capital and the gamut of capital markets - debt and equity, IPOs, SPACS, bond offerings, right offerings and public company reporting. Ashley earned a Bachelor of Arts degree in political science from Duke University and a J.D. from Harvard Law School. She is a passionate Duke basketball fan.
Key prior personal and/or syndicated investments: Databricks, Bolt, Brex, Pacaso, Pipe, Mercury, and Qonto.
So, let’s get straight to it!
What are your focus areas, overall and within the FinTech space?
I would describe myself as open and opportunistic, I invest across all sectors, stages, and geographies. But within FinTech I am most focused on embedded finance and banking as a service,
Do you invest as an angel aside from your VC investments?
Yes, I invest personally, via my syndicate, and in collaboration with other funds and groups where I serve as Venture Partner.
What’s one question you ask yourself before investing in a company?
I ask myself the same question every deal: have they solved for distribution? For example, do they have some unfair advantage, such as an elite partnership or contacts because of previous experience, etc? Great ideas are a dime a dozen - but, execution is everything.
Can you name some of the biggest success stories from your portfolio?
Within FinTech - Bolt, which is one of my first personal investments. Also, Pipe, Mercury, Qonto, Chipper Cash, Caribou (Formerly known as Motorefi), Brex, and more.
Since you started investing in FinTech as a VC/Angel, what has been your biggest mistake and lesson learned?
I made my worst mistake early and I am glad about it as I got a great lesson early; which is while signal matters, it’s not the end - all-be all. You have to trust your gut. If something doesn’t comport with your understanding of a market or customer segment, don’t override that just because of who else is on the cap table.
Which are the trends to watch out for in the next 6-18 months?
Embedded finance is likely to continue to explode globally. I’m still on the “every company will be a FinTech” hype train.
What should startups think about before contacting a VC?
Clearly, layout: how you are going to define your category.
What’s one piece of advice you’d give every founder?
Surround yourself with folks, (particularly on the advisor and investor side) who aren’t simply an echo chamber. Who will challenge you and bring a diverse perspective?
What’s on your bookshelf/ reading list?
The Monk and the Riddle by Randi Komisar, Play Bigger, and Thinking in Bets by Annie Duke.
What’s one interesting thing most people won’t know about you?
I am an avid traveler and have visited over 80 countries. It’s a bit harder to get away at the moment, but I expect I’ll cross 100 countries in the next couple of years. My favorite country is Australia and the most off-the-beaten path I’ve been to would probably be Bhutan or Vanuatu.