Debuting on this year’s Midas List are a group of up-and-coming investors who have made significant deals in defense, consumer tech, and enterprise software. Among them are Trae Stephens, co-founder of Anduril, a defense contractor valued at $10 billion, and Wesley Chan, a former Google employee turned venture capitalist who has made successful investments in companies like Canva and Robinhood. Annabelle Yu Long, founder of BAI Capital, has also made her mark on the list with investments in popular Asian companies like Bigo and TanTan.
Stephens’ success in the venture capital world can be attributed to his early investments in companies like Flexport and Anduril. Meanwhile, Chan’s background at Google has informed his focus on consumer tech startups, resulting in deals with companies like Canva and Robinhood. Long, on the other hand, brings a unique perspective to the list with her experience in the Chinese market and investments in companies like Bigo and Dingdong Fresh.
Also making their debut on the Midas List this year are Justin Niu from IDG Capital, Kevin Spain from Emergence Capital, and Jeremy Philips from Spark Capital. Niu has made deals in enterprise data services and AI research companies, while Spain has invested in companies like Doximity and Blend. Philips has bet on companies like Affirm and sits on the boards of TripAdvisor and Angi.
These newcomers to the Midas List have found success by investing as generalists, going broad on different topics and disciplines rather than focusing on a specific sector. This approach has allowed them to make a diverse range of successful investments and build strong portfolios. Stephens notes that this breadth of knowledge makes VCs great conversationalists, able to discuss a wide range of topics with depth and insight. In a competitive and ever-changing market, this ability to adapt and stay informed is crucial for success in the world of venture capitalism.
