After a small startup exit and being turned down by every VC firm he applied to, Tim Chen began angel investing and eventually stumbled into raising his own fund.

Now, as the solo investor behind Essence VC, he just closed his fourth fund at $41 million "without even trying." Chen's secret weapon? Being technical enough to debate PhD founders on implementation details while understanding the market dynamics that turn scrappy startups into category leaders.

Today on TechCrunch's Equity podcast, Julie Bort sat down with Tim Chen to explore the rise of solo VCs and who's rewriting the traditional venture playbook.

Listen to the full episode to hear about:

• Why the YC playbook of "revenue at all costs" doesn't work for infrastructure startups, and what Chen tells technical founders to focus on instead

• The strategic pivot Chen pushed one portfolio company to make that completely changed their trajectory

• What being a "small exit founder" taught Chen about venture capital, and why he thinks the industry has it backwards

Subscribe to Equity on Apple Podcasts, Overcast, Spotify and all the casts. You also can follow Equity on X and Threads, at @EquityPod.

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