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]

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 𝗶𝗻𝘃𝗲𝘀𝘁 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

[Niko Ludwig @Collateral_com]

Study how the Medici stayed relevant 500 years after their bank collapsed:

https://t.co/0b717ldWGB

[Niko Ludwig @Collateral_com]

“Our founders are our heroes. We’re not Da Vinci, we’re Medici.”

– Josh Kushner