Destination Richmond A Richmond Rising Star A peek into the career of renowned tech investor Erik Moore By Matt Larson What separates those who do from those who don’t? Circumstances, guidance, luck, fate … there’s no concrete answer to that question. One way to assess it is to look at those who have accomplished their goals and find out what helped them do it. For Richmond-native Erik Moore, Founder and Managing Director of Base Ventures, it was his parents, friends and neighbors who helped inspire him to rise the ranks of success. “The greatest benefit for me was living next door to two older boys whom I looked up to as big brothers and, like big brothers, wanted to be like them,” said Moore. Also, “I liked getting praise from my parents for doing well, so I didn’t want to disappoint them … The advice is hard, and probably not very helpful, but the individual has to make a decision,” he said. “You can pay now or pay later.” Pay now: go to school and put in the work to have a good future. Pay later: cut class and have fun instead, but end up in a low-income job with no real future. Moore took the “pay now” approach to life and, though he’s enjoying the fruits of his labor, he isn’t slowing down any time soon. After 15 years in investment banking with Merrill Lynch, Moore secured an early retirement shortly after his 40th birthday. He now runs the early-stage tech investment fund Base Ventures and has invested in dozens of tech startups over the years. “We essentially raise money from high-networth individuals and invest that money in early-stage tech companies,” Moore explains. “For example, when Facebook first started, Mark needed $1M to get going. That money comes from people like me.” He has been recognized by Business Insider as one of the most influential leaders in tech. Moore currently resides in Oakland, not too far from his hometown, and he is still involved with his local community. He sits on the board of the East Bay College Fund, a nonprofit that provides scholarships, mentoring, counseling and more to local public school students from low-income families. He’s also made regular visits to Camp Sweeney, the juvenile detention camp in San Leandro. “They liked the fact that I cared to listen,” he said. “I’m an unofficial mentor to a bunch of kids.” That’s what the world needs more of: mentoring. “Not formal, just an ear to listen,” he explains. “Encouragement. That’s all it takes sometimes—yeah more food programs, more teachers, more police, I get all that, but if you’re hopeless those things are bandaids. Important bandaids, but not long term.” Mentors sure helped him stay on the right path, even still to this day. “I wasn’t the smartest person on my block,” he said, contrary to popular belief. “I just made different decisions and ended up here. I want to make sure more kids do the same.” When choosing where to invest, Moore looks for more than just a likely profit margin. “I care far more about the founder, than their product,” he said, looking for people who are passionate about what they are building. A self-proclaimed unabashed optimist, Moore looks below the surface level and finds potential where others may not. “40% of the companies I’ve invested in are African-American, Latino, women … most investors are not as favorable to those demographics,” he laments. “I have a different sensibility. Many of the founders in my portfolio look like me and are absolutely killing it now.” Some advice to his younger self: “Be more confident. And be even more adventurous in terms of trying different things.” The same applies for pretty much all of us. Today, Moore looks on to the future with many exciting ventures to come. “My ultimate hope is to make a bunch more money and spend it in Richmond!” he exclaimed. We all look forward to seeing what he’ll venture toward next. Keep up with Erik Moore’s work at the Base Ventures website: base.ventures.
Contra Costa Marketplace - June_2015
To see the actual publication please follow the link above