Rishi Armstrong and Shaan Patel are two successful student entrepreneurs from the University of Southern California who built Azure Ventures Group, a holding company that owns 8 online businesses and a venture capital fund that invests in Seed and Series A stage startups. On this episode, they gave valuable insight on the type of businesses to start, how to identify profitable and sustainable businesses to acquire, and finally, how to break into venture capital from college. 

Rishi Armstrong's LinkedIn: https://www.linkedin.com/in/rishiarmstrong/

Shaan Patel's LinkedIn: https://www.linkedin.com/in/shaan-patel/

Azure Ventures Group: https://www.linkedin.com/company/azureventuresgroup/about/

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Show notes: 

(1:00) The origin of Azure Ventures Group 

(1:30) Reward from betting on young founders 

(2:40) Problem with funding in Southern California 

(6:35) Characteristics of ventures that are best to acquire 

(9:40) Easy businesses to start for anyone 

(12:00) Don’t be scared to ask for help 

(13:00) Start with a lean startup before shooting for the moon 

(14:40) Niche first then expand (e.g Airbnb) 

(16:30) Become the Berkshire Hathaway of Brands 

(17:52) Platforms to use to buy businesses 

(21:45) Traction guarantees higher valuation

(25:30) How a student VC fund sources deal and get investments from limited partners 

(30:45) Why you should start a student VC fund at your school 

(32:40) How to get into venture capital as a college student

(35:21) Resources that Shaan and Rishi recommend for early stage founders  

(40:30) Funny but big mistake Shaan made (Don’t chase the money)