by Paul Asel

Last week was a reawakening of sorts. A four-hour drive for my first in person business meeting since last March seemed a minor inconvenience after a lockdown that included nearly two months of quarantines. The CEO greeted me in the lobby and assured me that all employees…


“Great Groups are not realistic places. They are exuberant, irrationally optimistic ones.” Warren Bennis and Patricia Ward Biederman, Organizing Genius: The Secrets of Creative Collaboration

In the 2008 Summer Olympics, Jason Lezak anchored the gold medal winning US 400-meter freestyle relay team. Winning gold seemed improbable, especially when Jason dove…


Weekly Reflection
by Paul Asel

In the past year we have developed a proprietary framework to assess Product Market Fit (PMF). Marc Andreessen asserts PMF is “the only thing that matters for a new startup” and that “the life of any startup can be divided into two parts: before product…


Weekly Reflection
By Paul Asel

Six venture backed companies filed for IPO on Friday, November 13, including Doordash, C3.ai and Pubmatic — about 20% of the annual rate for US venture backed IPOs in recent years filing in just one day. With the recent spate of IPOs, many venture firms…


Weekly reflection

Achieving escape velocity is essential for startups to deliver venture returns. Escape velocity is a compelling image for an entrepreneur, as it refers to the speed — 25,020 miles per hour — required to exit the earth’s gravitational pull. A startup faces its own gravitational pull. Startups that…


Weekly reflection

Last week I introduced twenty biases that influence investment decisions. Over the next couple weeks, I will discuss methods proposed by Charlie Munger and Warrant Buffett from Berkshire Hathaway to reduce or mitigate the impact of biases. …


Weekly reflection

“Tell me where I will die so I don’t go there.” Wingmen cover blind spots; offer perspective; provide an informed, arms-length view; and coalesce team views to help the sponsor engage effectively with all stakeholders.

Our Wingman process at NGP Capital derives from a process advocated by Berkshire…


Weekly reflection

Venture investors deal daily with imperfect, asymmetric information. Seeing the present is sometimes harder than it might seem.

Our world is pell-mell gripped by a pandemic, political unrest, and a global trade war — all of which have created more economic uncertainty than at any time since the…


There are times when silence makes one complicit. As American novelist James Baldwin said, “Neither love nor terror makes one blind: indifference makes one blind.”

Politics is increasingly impacting our business. The trade war erodes the global consensus built over the past 70 years and NGP Capital’s global platform built…


Weekly reflection

Jack Ma applied for thirty jobs and was rejected for all of them. He later said, “I even went to KFC when it came to my city. Twenty-four people went for the job. Twenty-three were accepted. I was the only guy who was not…” His first company, Hangzhou…

Paul Asel

Managing Partner at global VC @ngpcapital $1.2 bn AUM. Portfolio: Xaiomi, Deliveroo, Lime, etc. Writes about smart mobility, entrepreneurship & venture capital.

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