Brett Liu, Sixty Degree Capital VC on Cybersecurity and AI Infra

**Grace Gong** (0:03)
We are live. Hi, Brett. Welcome to Venture with Grace.

**Brett Liu** (0:07)
Nice to meet you, Grace. And we talked about working this together sometime, and now finally we're doing it. Super excited.

**Grace Gong** (0:14)
I'm super thankful that you guys have me speak at your amazing conference and I'm so glad we got to have a hot pot together with the whole team.

**Brett Liu** (0:22)
I know, I know, I know. It's well deserved for the whole team to set up a little bit, right? We put a lot of effort in, and it was a pretty good success. I think we'll do it again next year, but obviously, Grace, you're top of the list to be invited again. We can get some creative with the format, see how we fit in more people and more topics.

**Grace Gong** (0:41)
I love it. I love it.
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I want to start with your, maybe we could start with, since we tried about your fund, so from my research that one of the big focus is healthcare and biotech, maybe we could start from, since I feel like the background of the firm.

**Brett Liu** (1:31)
Yeah, the fund and then what we're doing here exactly. I think we're a little mystery for a lot of folks. We haven't done that much work on PR as a whole list of brand, and we're trending that right now since last year. Obviously, we put a lot of work into it, but have to talk about it.
The place has been around nine years. It's not a new place. We start off having always been due tracked in terms of the investment sectors, and we always have a health care focus on broad health care medical devices, but a lot of times focus on therapeutics, new drug discovery, which are more on the frontier side of things, and on side by side, we have enterprise software team that's where we started off. Obviously, we iterated moving more into the infrastructure world, moving to the cybersecurity side of things, but has been due track. We're at fund for right now is 200 to 250 mil fund size, which is sizable for what we do. And we continue the same focus area and stage wise, we can go as early as like lay seed at this point, but all the way down to Series B and C, where we can still meaningfully add value, with our track size being still meaningful. So that's where we operated a lot of times. And the fund was constructed with, I was a single mission, is to access high quality US venture markets for the Canadian investor, LPs. Not a big thing back in 15 years ago, but I think with Shopify, it's kind of a really brand name, a Canadian startup, people start seeing this as a viable asset class from the Canadian side of LP, anywhere from retail to all of its institutional, and everybody starts deploying at different pace and different risk appetite, and we were lucky enough to capture a big chunk of it and amass them into this current fund structure, and we've been blessed with their support to this point and super grateful there.
So our job, frankly speaking, has been just build ourselves into a platform where we can, with high efficiency, interacting with the founders and the co-investor network in the USA, a lot of times in the Bay Area, that's where we're down there 10 to 15 times a year, interacting with the founder group, co-investor community, and shape ourselves into a suitable form where we can be on the cap table and add value to them as much as we're allowed, as much we're blessed with, and then become part of the ecosystem. I think it was a mission set out very bold early on, but given the years that we put in, I think we're there, we're still on the way, but we're getting there.

**Grace Gong** (4:30)
For sure.
I want to start with like, what is the, since like you mentioned, it's like essentially a Canadian LPs are investing into the Bay Area, or like the US entrepreneur in general. So I guess like, what would be the main thesis? And maybe we could talk about maybe the LP background as well. So like most times there's like a, you know, like a lead organization or like lead group of LPs, whether they're like, let's say since like Shopify success, maybe it's like they're folks who owns like.