20VC: Figma, Scale, Wiz: Inside Index's Decacorn Factory | Decision-Making, Investment Process, Biggest Lessons, Biggest Misses | Why Gross Margin is a Fallacy at Seed | Never Turn Down a Deal on Price with Martin Mignot, Partner @ Index Ventures

20VC: Figma, Scale, Wiz: Inside Index's Decacorn Factory | Decision-Making, Investment Process, Biggest Lessons, Biggest Misses | Why Gross Margin is a Fallacy at Seed | Never Turn Down a Deal on Price with Martin Mignot, Partner @ Index Ventures

Released Monday, 11th August 2025
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20VC: Figma, Scale, Wiz: Inside Index's Decacorn Factory | Decision-Making, Investment Process, Biggest Lessons, Biggest Misses | Why Gross Margin is a Fallacy at Seed | Never Turn Down a Deal on Price with Martin Mignot, Partner @ Index Ventures

20VC: Figma, Scale, Wiz: Inside Index's Decacorn Factory | Decision-Making, Investment Process, Biggest Lessons, Biggest Misses | Why Gross Margin is a Fallacy at Seed | Never Turn Down a Deal on Price with Martin Mignot, Partner @ Index Ventures

20VC: Figma, Scale, Wiz: Inside Index's Decacorn Factory | Decision-Making, Investment Process, Biggest Lessons, Biggest Misses | Why Gross Margin is a Fallacy at Seed | Never Turn Down a Deal on Price with Martin Mignot, Partner @ Index Ventures

20VC: Figma, Scale, Wiz: Inside Index's Decacorn Factory | Decision-Making, Investment Process, Biggest Lessons, Biggest Misses | Why Gross Margin is a Fallacy at Seed | Never Turn Down a Deal on Price with Martin Mignot, Partner @ Index Ventures

Monday, 11th August 2025
Good episode? Give it some love!
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Martin Mignot is a Partner at Index Ventures, the best-performing fund in the world right now. In the last three months, they have sold Wiz for $ 32 billion, sold Scale for $14.9 billion, and IPO'd Figma as the largest investor. In addition to this, they are the largest or second-largest shareholders in Roblox, Revolut, Adyen and Datadog. 

Agenda for Today:

00:00 – Why Gross Margin is the Biggest Sin in the Early Days

04:50 – Why Most People Shouldn’t Become VCs

07:40 – Why it is BS to Suggest the Future of VC is Boutique vs Mega Fund

09:10 – Do Multi-Stage Funds Really Give a S*** About Seed

13:50 – The Founder Trait That Trumps Market Size Every Time

18:45 – How Spotify Still Haunts Index Ventures & What They Learn From It?

28:50 – The Brutal Truth About European vs. U.S. Founders

34:20 – The Case for a European AI Giant (and Who Might Build It)

40:50 – The Return of the 7-Day Founder Work Week

52:10 – Biggest Lessons from Leading Revolut’s Series A

56:40 – Betting Against Nick Storonsky? Don’t.

1:03:10 – The One Competitor Index Ventures Admires

 

 

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