Mate Pencz's guest appearances

Mate Pencz

Invest Like the Best with Patrick O'Shaughnessy

Canary Cast

Mike Krieger

Renata Quintini

Annie Duke

Michael Mauboussin

Marc Andreessen

Brian Koppelman

Kyle Samani

Tim Urban

Peter Attia

David Epstein

Jason Zweig

David Tisch

Bronwyn Varty

Kiley Adams

Will Thorndike

OwlTail

My guests today are Julio Vasconcellos and Mate Pencz, who are partners at Canary and Atlantico, leading early-stage investment firms in Latin America. They’re also both successful entrepreneurs. Mate is the co-founder and CEO of Brazilian real estate unicorn, Loft. Julio was Facebook’s first country lead for Brazil, an entrepreneur in residence at Benchmark, and the former founder of Peixe Urbano which sold to Baidu. This conversation was a great opportunity to dive into the state of investing and business in Latin America today, what it looks like on the ground, and cover the most interesting findings from Atlantico's annual report on Digital Transformation in the region. Please enjoy my conversation with Julio and Mate. For the full show notes, transcript, and links to mentioned content, check out the episode page  here. ----- This episode is brought to you by  Canalyst. Canalyst is the leading destination for public company data and analysis. If you're a professional equity investor and haven't talked to Canalyst recently, you should give them a shout. Learn more and try Canalyst for yourself at  canalyst.com/Patrick.  ----- Today's episode is brought to you by Brex. Brex is the integrated financial platform trusted by the world's most innovative entrepreneurs and fastest-growing companies. With Brex, you can move money fast for instant impact with high-limit corporate cards, payments, venture debt, and spend management software all in one place. Ready to accelerate your business? Learn more at brex.com/best. ----- Invest Like the Best is a property of Colossus, LLC. For more episodes of Invest Like the Best, visit joincolossus.com/episodes.  Past guests include  Tobi Lutke,  Kevin Systrom,  Mike Krieger,  John Collison,  Kat Cole,  Marc Andreessen,  Matthew Ball,  Bill Gurley,  Anu Hariharan,  Ben Thompson, and many more. Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here. Follow us on Twitter: @patrick_oshag | @JoinColossus Show Notes[00:02:39] - [First question] - A broad perspective on what is interesting in Latin American investing today -  Latin America Digital Report 2022[00:05:15] - What makes up the existing 1.5% tech penetration index in Lat Am[00:06:11] -  Florian Hagenbuch, Mate Pencz - Everything Will be Bought Online (Loft);  David Velez - Building the Branchless Network (Nubank); How important it is to parse by country when it comes to building businesses in LatAm [00:08:31] - Overview of LatAm as a microcosm of fintech innovation happening really fast and what is most exciting in that sphere [00:12:28] - Why the adoption of PIX was so successful and how it maps onto the banking system[00:14:27] - What PIX’s widespread adoption will enable for the coming wave of entrepreneurs [00:22:30] - Shifting to remote work and how it’ll affect LatAm workers and talent[00:30:06] - What it feels like for an entrepreneur today compared to when Loft launched [00:32:36] - Deeper themes and what needs to be unlocked for LatAm’s tech sector to look more like the US or China with big tech giants [00:40:12] - Sources of available funding for venture and private equity  [00:42:54] - What valuations look like and whether or not there’s an entry multiple discount[00:45:12] - Seeking evidence that crypto is used in more valuable ways in emerging markets [00:48:00] - Areas where LatAm is operating in a future state more so than elsewhere[00:50:28] - What the right amount of global firm participation in capital partnerships looks like[00:52:38] - Big standout lessons from their operating days [00:55:53] - What is most exciting and concerning about their investing style and investing writ large in LatAm [00:58:51] - The kindest thing anyone has ever done for Julio

My guests today are <a href="https://twitter.com/juliov" rel="nofollow" target="_blank">Julio Vasconcellos</a> and <a href="https://twitter.com/mpencz" rel="nofollow" target="_blank">Mate Pencz</a>, who are partners at Canary and Atlantico, leading early-stage investment firms in Latin America. They’re also both successful entrepreneurs. Mate is the co-founder and CEO of Brazilian real estate unicorn, Loft. Julio was Facebook’s first country lead for Brazil, an entrepreneur in residence at Benchmark, and the former founder of Peixe Urbano which sold to Baidu. This conversation was a great opportunity to dive into the state of investing and business in Latin America today, what it looks like on the ground, and cover the most interesting findings from Atlantico's <a href="https://www.atlantico.vc/latin-america-digital-transformation-report" rel="nofollow" target="_blank">annual report</a> on Digital Transformation in the region. Please enjoy my conversation with Julio and Mate. For the full show notes, transcript, and links to mentioned content, check out the episode page <a href="https://www.joincolossus.com/episodes/77749600/pencz-investing-in-latin-america" rel="nofollow" target="_blank"> here</a>. ----- This episode is brought to you by <a href="https://canalyst.com/request-demo/?utm_source=invest_like_the_best&amp;utm_medium=sponsored_content&amp;utm_campaign=Invest%20Like%20The%20Best&amp;utm_term=july_27_2021_shownotes" rel="nofollow" target="_blank"> Canalyst</a>. Canalyst is the leading destination for public company data and analysis. If you're a professional equity investor and haven't talked to Canalyst recently, you should give them a shout. Learn more and try Canalyst for yourself at <a href="https://canalyst.com/request-demo/?utm_source=invest_like_the_best&amp;utm_medium=sponsored_content&amp;utm_campaign=Invest%20Like%20The%20Best&amp;utm_term=july_27_2021_shownotes" rel="nofollow" target="_blank"> canalyst.com/Patrick</a>.  ----- Today's episode is brought to you by <a href="https://www.brex.com/?partnerId=best" rel="nofollow" target="_blank">Brex</a>. Brex is the integrated financial platform trusted by the world's most innovative entrepreneurs and fastest-growing companies. With Brex, you can move money fast for instant impact with high-limit corporate cards, payments, venture debt, and spend management software all in one place. Ready to accelerate your business? Learn more at <a href="https://www.brex.com/?partnerId=best" rel="nofollow" target="_blank">brex.com/best</a>. ----- Invest Like the Best is a property of Colossus, LLC. For more episodes of Invest Like the Best, visit <a href="https://www.joincolossus.com/episodes" rel="nofollow" target="_blank">joincolossus.com/episodes</a>.  Past guests include <a href="https://joincolossus.com/episodes/64592621/lutke-building-a-modern-business?tab=transcript" rel="nofollow" target="_blank"> Tobi Lutke</a>, <a href="https://joincolossus.com/episodes/60313963/krieger-how-to-build-a-great-product?tab=transcript" rel="nofollow" target="_blank"> Kevin Systrom</a>, <a href="https://joincolossus.com/episodes/60313963/krieger-how-to-build-a-great-product?tab=transcript" rel="nofollow" target="_blank"> Mike Krieger</a>, <a href="https://joincolossus.com/episodes/34646260/collison-growing-the-internet-economy?tab=transcript" rel="nofollow" target="_blank"> John Collison</a>, <a href="https://joincolossus.com/episodes/15230717/cole-how-to-operate-lessons-in-brand-distribution-and-leadership?tab=transcript" rel="nofollow" target="_blank"> Kat Cole</a>, <a href="https://joincolossus.com/episodes/58516750/andreessen-making-the-future?tab=blocks" rel="nofollow" target="_blank"> Marc Andreessen</a>, <a href="https://joincolossus.com/episodes/69430337/ball-the-future-of-media-movies-the-metaverse-and-more?tab=transcript" rel="nofollow" target="_blank"> Matthew Ball</a>, <a href="https://joincolossus.com/episodes/12224182/gurley-all-things-business-and-investing?tab=transcript" rel="nofollow" target="_blank"> Bill Gurley</a>, <a href="https://joincolossus.com/episodes/99792081/hariharan-lessons-in-growth-investing?tab=transcript" rel="nofollow" target="_blank"> Anu Hariharan</a>, <a href="https://joincolossus.com/episodes/91241527/thompson-platforms-ecosystems-and-aggregators?tab=transcript" rel="nofollow" target="_blank"> Ben Thompson</a>, and many more. Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up <a href="https://www.joincolossus.com/newsletter" rel="nofollow" target="_blank">here</a>. Follow us on Twitter: <a href="https://twitter.com/patrick_oshag" rel="nofollow" target="_blank">@patrick_oshag</a> | <a href="https://twitter.com/JoinColossus" rel="nofollow" target="_blank">@JoinColossus</a> Show Notes[00:02:39] - [First question] - A broad perspective on what is interesting in Latin American investing today - <a href="https://www.atlantico.vc/latin-america-digital-transformation-report" rel="nofollow" target="_blank"> Latin America Digital Report 2022</a>[00:05:15] - What makes up the existing 1.5% tech penetration index in Lat Am[00:06:11] - <a href="https://www.joincolossus.com/episodes/40055756/hagenbuch-everything-will-be-bought-online?tab=transcript" rel="nofollow" target="_blank"> Florian Hagenbuch, Mate Pencz - Everything Will be Bought Online (Loft)</a>; <a href="https://www.joincolossus.com/episodes/16951337/velez-building-the-branchless-bank?tab=transcript" rel="nofollow" target="_blank"> David Velez - Building the Branchless Network (Nubank)</a>; How important it is to parse by country when it comes to building businesses in LatAm [00:08:31] - Overview of LatAm as a microcosm of fintech innovation happening really fast and what is most exciting in that sphere [00:12:28] - Why the adoption of PIX was so successful and how it maps onto the banking system[00:14:27] - What PIX’s widespread adoption will enable for the coming wave of entrepreneurs [00:22:30] - Shifting to remote work and how it’ll affect LatAm workers and talent[00:30:06] - What it feels like for an entrepreneur today compared to when Loft launched [00:32:36] - Deeper themes and what needs to be unlocked for LatAm’s tech sector to look more like the US or China with big tech giants [00:40:12] - Sources of available funding for venture and private equity  [00:42:54] - What valuations look like and whether or not there’s an entry multiple discount[00:45:12] - Seeking evidence that crypto is used in more valuable ways in emerging markets [00:48:00] - Areas where LatAm is operating in a future state more so than elsewhere[00:50:28] - What the right amount of global firm participation in capital partnerships looks like[00:52:38] - Big standout lessons from their operating days [00:55:53] - What is most exciting and concerning about their investing style and investing writ large in LatAm [00:58:51] - The kindest thing anyone has ever done for Julio

Julio Vasconcellos & Mate Pencz - Investing in Latin America - [Invest Like the Best, EP.296]

My guests today are Florian Hagenbuch and Mate Pencz, co-founders of Loft. Based in Sao Paulo, Brazil, Loft is a digital platform designed to bring Latin American real estate into the e-commerce age. The 3-year-old startup scaled to over $150mm in annualized revenue in 2020 and is on track for multiples higher this year. We dive into the market opportunity in Brazilian real estate and how that differs from the US market, the value proposition for iBuying across the US and Latin America ecosystems, and touch on the potential for Loft to expand from real estate into adjacent services such as mortgages. Florian and Mate are second-time founders and have some great lessons shared throughout the episode. Please enjoy my conversation with Florian and Mate.   For the full show notes, transcript, and links to mentioned content, check out the episode page  here. ----- This episode is brought to you by Klaviyo. Klaviyo is the ultimate marketing platform for e-commerce. With targeted segmentation, email automation, SMS marketing, and more, Klaviyo helps you create your ideal customer experience.   See why Klaviyo is trusted by more than 50,000 brands, like Living Proof, Solo Stove, and Nomad, to help them grow their business. For a free trial, check out klaviyo.com/founders. ----- This episode is brought to you by Eight Sleep. Eight Sleep's new Pod Pro Cover is the easiest and fastest way to sleep at your perfect temperature. Simply add the Pod Pro Cover to your current mattress and start sleeping as cool as 55°F or as hot as 110°F. To embrace the future of sleep and get $150 off your new mattress, go to eightsleep.com/patrick or use code "Patrick." -----   Founder's Field Guide is a property of Colossus, Inc. For more episodes of Founder's Field Guide, visit joincolossus.com/episodes.   Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here.   Follow us on Twitter: @patrick_oshag | @JoinColossus   Show Notes [00:02:52] - [First question] - Why Latin America currently presents such a unique opportunity for modern technology companies [00:04:38] - What the market looked like when they started Loft [00:07:20] - How they approached gathering data that wasn’t available or accessible in order to develop the company infrastructure [00:09:39] - How the process of buying a home used to be in São Paulo versus today [00:12:19] - What Loft’s hard work unlocks for consumers and home buyers [00:14:06] - What iBuying feels like writ large and more specifically in real estate [00:18:07] - Analysis of an iBuying real estate transaction from start to finish [00:20:09] - The role machine learning plays in property valuation and building that feature   [00:22:50] - Defining their business model and being a fulfillment center aggregator  [00:24:47] - Notable characteristics of the iBuying market in the United States  [00:27:00] - How they think about the competitive advantage extensions of Loft  [00:29:53] - Exciting opportunities for the FinTech broadly in Latin America  [00:32:47] - Deciding on what it is they want to tackle next as they grow the company  [00:34:13] - Thinking about the value proposition to customers and how they market it  [00:35:50] - Lessons learned about building businesses early on that were applied to Loft [00:40:12] - What led them to finding their early product-market fit  [00:42:48] - Calibrating and defining their ambitions for Loft out of the gate  [00:45:05] - Important and interesting trends in the business world today writ large  [00:48:43] - Further lessons and key challenges around building and scaling Loft  [00:52:24] - The kindest things that anyone has ever done for them

My guests today are Florian Hagenbuch and Mate Pencz, co-founders of Loft. Based in Sao Paulo, Brazil, Loft is a digital platform designed to bring Latin American real estate into the e-commerce age. The 3-year-old startup scaled to over $150mm in annualized revenue in 2020 and is on track for multiples higher this year. We dive into the market opportunity in Brazilian real estate and how that differs from the US market, the value proposition for iBuying across the US and Latin America ecosystems, and touch on the potential for Loft to expand from real estate into adjacent services such as mortgages. Florian and Mate are second-time founders and have some great lessons shared throughout the episode. Please enjoy my conversation with Florian and Mate. For the full show notes, transcript, and links to mentioned content, check out the episode page <a href="https://www.joincolossus.com/episodes/40055756/hagenbuch-everything-will-be-bought-online" rel="nofollow" target="_blank"> here</a>. ----- This episode is brought to you by <a href="https://www.klaviyo.com/founders" rel="nofollow" target="_blank">Klaviyo</a>. Klaviyo is the ultimate marketing platform for e-commerce. With targeted segmentation, email automation, SMS marketing, and more, Klaviyo helps you create your ideal customer experience. See why Klaviyo is trusted by more than 50,000 brands, like Living Proof, Solo Stove, and Nomad, to help them grow their business. For a free trial, check out <a href="https://www.klaviyo.com/founders" rel="nofollow" target="_blank">klaviyo.com/founders</a>. ----- This episode is brought to you by <a href="http://eightsleep.com/patrick" rel="nofollow" target="_blank">Eight Sleep</a>. Eight Sleep's new Pod Pro Cover is the easiest and fastest way to sleep at your perfect temperature. Simply add the Pod Pro Cover to your current mattress and start sleeping as cool as 55°F or as hot as 110°F. To embrace the future of sleep and get $150 off your new mattress, go to <a href="https://www.eightsleep.com/patrick" rel="nofollow" target="_blank">eightsleep.com/patrick</a> or use code "Patrick." ----- Founder's Field Guide is a property of Colossus, Inc. For more episodes of Founder's Field Guide, visit <a href="https://www.joincolossus.com/episodes" rel="nofollow" target="_blank">joincolossus.com/episodes</a>. Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up <a href="https://www.joincolossus.com/newsletter" rel="nofollow" target="_blank">here</a>. Follow us on Twitter: <a href="https://twitter.com/patrick_oshag" rel="nofollow" target="_blank">@patrick_oshag</a> | <a href="https://twitter.com/JoinColossus" rel="nofollow" target="_blank">@JoinColossus</a> Show Notes [00:02:52] - [First question] - Why Latin America currently presents such a unique opportunity for modern technology companies [00:04:38] - What the market looked like when they started Loft [00:07:20] - How they approached gathering data that wasn’t available or accessible in order to develop the company infrastructure [00:09:39] - How the process of buying a home used to be in São Paulo versus today [00:12:19] - What Loft’s hard work unlocks for consumers and home buyers [00:14:06] - What iBuying feels like writ large and more specifically in real estate [00:18:07] - Analysis of an iBuying real estate transaction from start to finish [00:20:09] - The role machine learning plays in property valuation and building that feature   [00:22:50] - Defining their business model and being a fulfillment center aggregator  [00:24:47] - Notable characteristics of the iBuying market in the United States  [00:27:00] - How they think about the competitive advantage extensions of Loft  [00:29:53] - Exciting opportunities for the FinTech broadly in Latin America  [00:32:47] - Deciding on what it is they want to tackle next as they grow the company  [00:34:13] - Thinking about the value proposition to customers and how they market it  [00:35:50] - Lessons learned about building businesses early on that were applied to Loft [00:40:12] - What led them to finding their early product-market fit  [00:42:48] - Calibrating and defining their ambitions for Loft out of the gate  [00:45:05] - Important and interesting trends in the business world today writ large  [00:48:43] - Further lessons and key challenges around building and scaling Loft  [00:52:24] - The kindest things that anyone has ever done for them

Florian Hagenbuch and Mate Pencz - Everything Will Be Bought Online – [Founder’s Field Guide, EP. 37]

Loft

Florian Hagenbuch e Mate Pencz contam as lições que aprenderam sobre a divisão de funções e a criação de uma boa relação entre co-founders, ao longo de suas jornadas à frente da Printi e, agora, da Loft. Também falam sobre founder market fit, os diferentes momentos de uma empresa e a importância de second time founders para o ecossistema de empreendedorismo. A Loft está reinventando a maneira de comprar e vender imóveis no país. Saiba mais aqui: https://www.loft.com.br/See omnystudio.com/listener for privacy information.

Florian Hagenbuch e Mate Pencz contam as lições que aprenderam sobre a divisão de funções e a criação de uma boa relação entre co-founders, ao longo de suas jornadas à frente da Printi e, agora, da Loft. Também falam sobre founder market fit, os diferentes momentos de uma empresa e a importância de second time founders para o ecossistema de empreendedorismo. A Loft está reinventando a maneira de comprar e vender imóveis no país. Saiba mais aqui: <a href="https://www.loft.com.br/" rel="nofollow" target="_blank">https://www.loft.com.br/</a>See <a href="https://omnystudio.com/listener" rel="nofollow" target="_blank">omnystudio.com/listener</a> for privacy information.

Loft: dinâmica entre co-founders, com Florian Hagenbuch e Mate Pencz