Investor Mandate Interview: Consumer Products, Fintech and Biotech
Private Investor Mandate Interview Focused on Consumer Products & Amazon Companies, FinTech and B...
Investors and family office principals who want a simple discipline for slowing down, vetting partners and reading contracts before they commit money.
The short version
A 24-hour cool down rule is the main habit Steve shares in this investor mandate interview with Richard C. Wilson. Steve is an attorney with 30 years of experience and a partner of Kevin. He says he likes companies of all sizes because he invests in people. His top areas are consumer products and fintech, with biotech a close third.
His advice for investors is short: don't chase. He says about 70% of the time, a deal looks different after 24 hours. He also stresses due diligence and reading every agreement closely. Richard describes a request for $50 million in five days. Steve closes with a view on the 2008 to 2010 period and why he sees opportunity after a crisis.
Five points worth keeping
- Invest in people first. Steve says he looks at the people behind a company, since you are investing in people. He is open to all company sizes, from small startups and inventors to larger structured deals.
- Consumer products and fintech lead. Steve calls consumer products and fintech his one-two punch. Biotech is a close third, and he also mentions medical devices, including one that helps heal diabetic ulcers.
- Use a 24-hour cool down. Steve waits 24 hours before acting on a deal, however excited he is. He says that about 70% of the time, the deal looks completely different a day later.
- Do the due diligence. Steve says this is where people lose more money than anything. He gives examples such as not knowing a partner had a bankruptcy or had lost money on a nearly identical deal.
- Read every agreement closely. Steve urges investors to read the full contract, not skip it as boilerplate. He shares a story of terms people missed, and gives a 2007 land purchase that ended in a lost fortune in 2008.
Said on the call
"I like taking a 24-hour cool down rule, which is basically, no matter how hot I am over something like that, let me look at it in 24 hours."
"Due diligence. I can't stress that enough. That's where people lose more money than anything."
"I can't tell you how many times people have called me up in my whole career. And I speak about this topic all the time. Read the agreements."
On the record
- Steve has been an attorney for 30 years and invests alongside a partner named Kevin.
- Steve says about 70% of the time a deal looks completely different after a 24-hour cool down.
- Richard describes a request to raise $50 million in five days, which he declined.
- Steve's client bought land in 2007 for track housing, signed a personal guarantee, and lost his fortune in 2008.
Sources
From Richard C. Wilson's Centimillionaire Strategies YouTube channel: Private Investor Mandate Interview Focused on Consumer Products & Amazon Companies, FinTech and B.... Quotes come from the video captions, lightly edited for readability. Figures are the speakers' own estimates and experience.
General education only. Not legal, tax or investment advice.
Talk to a securities attorney to explore options around agreement review, personal guarantees and partner due diligence. Do not use AI to write your own legal agreements.
Related questions
- How do I close a funding round?I close a funding round by focusing on investors who fit the opportunity and moving each interested prospect through clear, consistent follow-up.
- What documents do investors request during due diligence?Prepare a clear, organized package covering your operations, investments, compensation, team, and track record.
- How do I raise capital for my business?I raise capital by building a repeatable system for attracting the right investors, establishing credibility, and developing relationships before asking for money.
Questions about this video
What does Steve like to invest in?
Steve names consumer products and fintech as his top two areas. Biotech is a close third, and he also likes pharmaceutical and medical device companies. He says he is open to all company sizes.
What is Steve's number one advice for investors?
His advice is two words: don't chase. He says chasing a deal means you are not thinking clearly enough to judge whether it is a good or bad investment.
What is the 24-hour rule?
Steve waits 24 hours before acting on any deal, no matter how excited he is. He says that about 70% of the time, the deal looks completely different after a day.
Put this into practice with the how much to raise calculator. See all due diligence resources.
