Miguel Armaza
Podcast appearances as guest
Episode 15 - Miguel Armaza
In this episode, I sit down with Miguel Armaza, founder at Gilgamesh Ventures.
On the podcast
Miguel has podcasted for five years and missed only about five weeks in total.
Miguel spent close to ten years in banking at Citigroup and Bank of Tokyo-Mitsubishi, including two years in operations and technology.
Gilgamesh Ventures raised a $10 million first fund about three to four years ago, always focused on fintech.
Gilgamesh has backed 40 companies and manages about $35 million.
About 80% of Gilgamesh's founders build B2B companies and 20% consumer ones.
Gilgamesh always co-invests with local investors and has recruited local investors and founders as LPs and advisers.
For about 80% of its pre-seed investments, Gilgamesh knew the founders for at least six months before they announced their company.
Close to 40% of Gilgamesh's portfolio companies came through Miguel's podcast and content, and about 30 podcast guests became LPs.
Raising the first fund took about a year; the first $2 million came from personal contacts.
In the US the majority of fintech opportunities flipped to B2B around 2019; in Brazil around 2021–22, after local neobanks saturated.