Niko Ludwig

Founder of - the financial communications firm.

[Niko Ludwig @Collateral_com]

Why Is Everyone Investing in Texas?

A short documentary, produced by Collateral Partners

[Niko Ludwig @Collateral_com]

When it’s your turn to pitch, https://t.co/wz1m5YiAKt helps you make the case.

[Niko Ludwig @Collateral_com]

In 1999, Jack Ma pitched Alibaba to 17 friends in his apartment.

“Our competitors are not in China, but in America’s Silicon Valley.”

Alibaba then:

- 18 founders in Hangzhou
- An apartment for an office
- A marketplace helping small businesses find buyers

2026:

- $148.4B revenue
- $14.8B net income

The pitch aged pretty well.

[Niko Ludwig @Collateral_com]

Many good strategies die w/ poor communication

& inversely

Many poor strategies live w/ good communication

These two tales seen below:

[Niko Ludwig @Collateral_com]

Study the full deck to see what Sequoia backed before Kalshi had a live exchange.

Download the pitch deck:
https://t.co/DhwRIWyG9D

[Niko Ludwig @Collateral_com]

Kalshi raised $1B at a $40B valuation last week.

Before the exchange had even launched, Tarek Mansour and Luana Lopes Lara were projecting $5.1B in monthly trading volume within five years.

Here is their Series A pitch deck:

[Niko Ludwig @Collateral_com]

5) Kalshi planned to charge 0–2.5% per trade, depending on the contract price, and later sell market sentiment data.

Its five-year revenue projection reached $370M annualized

[Niko Ludwig @Collateral_com]

Writing your own investment memo?

Collateral put together a five-page template for fund managers and deal sponsors, with prompts and checks for every section.

Download it here:
https://t.co/bxEfdKacQD

[Niko Ludwig @Collateral_com]

Sequoia is one of Silicon Valley’s best-known VC firms. It manages approximately $82.2B and has backed Apple, Nvidia and Reddit

Here’s its investment memo on DoorDash

𝗪𝗵𝘆 𝗱𝗶𝗱 𝗦𝗲𝗾𝘂𝗼𝗶𝗮 𝗶𝗻𝘃��𝘀𝘁 𝗶𝗻 𝗗𝗼𝗼𝗿𝗗𝗮𝘀𝗵?

𝟭) 𝗧𝗲𝗮𝗺
“We were amazed by how deeply they understood the logistical challenges of restaurant service.”

𝟮) 𝗠𝗮𝗿𝗸𝗲𝘁
“$57B is addressable by the company. DoorDash's TAM in revenue would be $11.4B, if take rate is 20%.”

𝟯) 𝗧𝗿𝗮𝗰𝘁𝗶𝗼𝗻
"More than $10M in annualized gross processing volume."

𝟰) 𝗥𝗲𝘁𝗲𝗻𝘁𝗶𝗼𝗻
“Until consumers reach their limit of takeout food, all of this suggests a very sticky business.”

[Niko Ludwig @Collateral_com]

Florence is still doing PR for the Medici, 500 years after their bank closed

Read how:
https://t.co/0b717ldWGB

[Niko Ludwig @Collateral_com]

Lindy tales of what it takes to build an enduring reputation:

[Niko Ludwig @Collateral_com]

Put numbers behind your next investment thesis.

Download the full guide (PDF):
https://t.co/NqjmknR47a

[Niko Ludwig @Collateral_com]

A company's valuation starts with a story about its future.

Aswath Damodaran, known as the "Dean of Valuation," shows how to put numbers behind that story in his 20-page guide.

Here are five slides:

[Niko Ludwig @Collateral_com]

5/ Uber’s $90B case assumes a doubled market & global network effects