🌿 Hey Earth First Fam!
Welcome to Newsletter #12!
Who’s leading the charge? None other than Stephen Wemple from Spero Ventures
Here’s what you can expect in this edition:
Who is Stephen Wemple? & What’s his Story?
What’s Spero Ventures? & What do they invest in?
🌟 In Conversation with Stephen: An Inspiring Climate Tech Leader
Laying the Groundwork in Vietnam 🇻🇳
Stephen's environmental odyssey didn’t kick off in the typical tech incubators but rather amidst the lush landscapes of Vietnam. With a Fulbright fellowship with the U.S. Department of State in hand, he immersed himself in the local culture and education systems. His mission? To ignite a spirit of entrepreneurship among the youth.
Stephen wasn’t just a teacher there; he was a student too, absorbing lessons about the intrinsic link between local agricultural practices and global environmental health. He worked closely with students who, day in and day out, faced the challenges of farming in flood-prone areas, crafting business solutions that were as innovative as they were necessary. These solutions focused on enhancing crop resilience, improving water management, and ultimately reducing the community's vulnerability to the catastrophic impacts of climate change.
Bridging Local Innovations to Global Visions 🌎
After returning to the U.S., Stephen brought back more than just memories—his vision was transformed by his hands-on experiences in Vietnam. His work overseas highlighted the potential for local solutions to global problems. He went on to sharpen his venture capital acumen at Village Capital from 2017 to 2019 and focused on startups that were not only profitable but also made significant ecological impacts, particularly through sustainable practices and renewable energy innovations.
Joining Spero Ventures 👏
The move to Spero marked a significant shift in Stephen’s career, aligning perfectly with his ethos and the firm's mission to support startups that better the world. Here, Stephen transitioned from theoretical advocacy of climate resilience to spearheading climate tech
innovations. He concentrated on sustainable agriculture and energy solutions, viewing the environmental challenges of modern industries not just as hurdles but as opportunities for systemic change.
Laying the Foundation with Trust and Competence 🤞
Stephen’s initial tasks at Spero were foundational yet critical—he had to establish trust through meticulous market research, exhaustive sourcing, and proactive deal engagement.
With a solid foundation in place, Stephen began to steer Spero’s strategic direction. He led initiatives into new verticals and fine-tuned the firm’s approach to market defensibility within emerging tech paradigms. His ability to drive the firm’s strategic thinking marked a major turning point, enabling him to lead deals and handle complex dynamics effectively.
Words of Wisdom from Stephen 📝
As a young investor, we took his thoughts to heart.
Lead with Governance and Leadership
“I do believe the most interesting VCs from my perspective are the ones that landed and venture through more of a windy route, where they're ultimately there because of their natural curiosities.”
Supportive and Collaborative Team
“I believe you should want to work with people that have a shared mission and a high level of trust.”
Patient, strategic approach
“You really have to be patient and you shouldn't lack ambition as a young person because patience also rewards young people. It's not a race. It’s more of a tortoise game, not a hare game.“
Growing with Intention 📈
For Stephen and his colleagues at Spero, the path involves personal growth alongside financial success. It’s about making informed, reflective decisions that advance the firm and contribute meaningfully to the broader mission of developing sustainable, impactful technologies in the climate sector.
Get to know Stephen!
Favorite Book: Poor Charlie’s Almanac by Charlie Munger
Favorite Podcast: Acquired & The David Chang Show
Favorite Mantra: “Things turn out best for the people who make the best of the way things turn out.”
Biggest climate role model: Marc Tarpenning - Co-Founder of Tesla and Venture Partner at Spero Ventures
Wishes people knew about the climate space: “You don’t need a technical background to get into the space. Right now, there are a lot of ways to apply different skill sets.”
Most excited about in the future: “Cheap Electrons”
🌍 Enter Spero Ventures: Building A Future We Want to Live In
The Curiosity-Driven Investment Approach 🧐
Spero Ventures operates on a foundational belief that true passion for a sector or a problem leads to the most impactful innovations. Spero advocates for natural intrigue—whether sparked by a podcast, article, or casual conversation—that often leads the team to exciting new deals.
What Makes a Startup Stand Out? 🌟
At Spero, the criteria for investment go beyond conventional metrics. While market size and potential returns are important, the firm places a substantial emphasis on the founding team's motivation and the underlying mission of the startup. They believe that a founder deeply motivated by their mission is crucial for the longevity and success of a business. This philosophy stems from a preference for founders who are more like hedgehogs—deeply knowledgeable about one thing—rather than foxes, who know a little about many things.
Is the founder intrinsically motivated by the problem that they're setting out to solve or the company that they're building? We think the mission is a critical ingredient in building an enduring business and an enduring founder alongside that business.
The Importance of Customer Love 🤟
One key metric for Spero is evidence of customer love, which can manifest as high user engagement or robust revenue growth. This metric serves as a proxy for product-market fit, which is paramount. The firm looks for startups that are not just participating in the market but are actively disrupting it through innovative uses of technology, such as low-cost IoT devices that unlock new datasets or applications in distributed energy and agriculture.
Cultural Fit and Foundational Values 🎯
The culture at Spero is distinctly collaborative, characterized by a flat hierarchy where every team member’s voice is valued equally. This structure not only facilitates diverse input and thorough deliberation but also reinforces the importance of mutual respect and trust. For Spero, the ideal startup is not just a potential portfolio company but a partner that shares
their ethos of profound impact through sustainable innovation.
In Summary 💼
Spero exemplifies a venture firm that is as much about making a positive impact as it is about achieving financial returns. They invest in people and ideas that have the potential to transform industries and society, driven by a deep-seated belief in the power of technology to solve real-world problems. For Spero, the future of venture capital is not just about funding the next big thing—it’s about ensuring that the next big thing makes the world a significantly better place.
Earth First Trivia (from Monday!)
Until next time,
Earth First 🌍✌️
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