Dale W. Wood, the Costa Rican founder of Dubai-based personal investment holding group—Dale Ventures—has made multiple investments in internet-based startups. Some of the Dale Ventures-backed startups are undergoing immense growth—thanks to the capital, experience, and value-added consulting provided at their critical junctures of growth. Dale W Wood is an alumnus of the Edwin L. Cox School of Business, Texas, where he earned an international business MBA.
Early in his career, he used to work for a manufacturing company in Texas—Texas Industries, where he launched its website in 1996. It was the world’s first construction company website when the world wide web was still in the nascent stage.
Dale, through his venture capital arm, Dale Ventures—has invested in some of the high- potential entrepreneurs around the globe, such as Instanda, Huma, Rayo Credit, and TechMet, which have driven some of his highest returns to date.
What is your assessment of the venture capital investing scene in the Asia-Pacific region and Latin America?
It isn’t easy to generalize about such extensive regions which span across ethnicities, religions, and languages. These regions have a lot of variety in terms of HDI metrics, economic systems, and governance forms. Asia is booming. Two decades before it, it amounted to about one-third of the global gross domestic product. Now we see that it is having 50% of the whole world’s consumption.
Similarly, in Latin America, there exist countries having deep security markets. Brazil is one such example where the economic growth rate is around 2%. Columbia is at 4%. Argentina is currently undergoing a recession.
Dale Ventures strives to focus on emerging markets and the latest technology. We closely monitor the situation across the globe and assess the right step in a post covid world.
Do you think that in such a covid crisis time, a startup is a good idea?
I very well understand where this question is coming from. I see there is uncertainty all around. Yet, it is a perfect time to start a business. Why do I say so? I have my reasons, and many entrepreneurs would disagree with me on this. It is an excellent time for partnering and attracting top-notch players. A crisis is a great time to remain committed to one thing free from the market dynamics. Venture capitalists can find real value as there is less noise regarding funding, valuation, etc. you can easily find talented people.
Can You Explain What Made Your Mind To Invest In Instanda?
Instanda’s story is similar to any other technological breakthrough. The founders were very disappointed as the insurance industry was suffering due to legacy systems. They felt that the technological apparatus in use should be put in the dust bins of history. Tim Hardcastle, the founder, and CEO was very much enthusiastic about transforming the insurance industry. We met through a common friend, and his enthusiasm and passion caught my attention.
When he pitched his idea, I was genuinely taken aback by the futuristic innovation Tim proposed. So, I invested $ 1,000,000 in a seed funding round through my Venture Capital arm Dale Ventures and further increased the stake by euros 5.8 million. I am happy to see that Instanda uses state-of-the-art artificial intelligence and fast becoming Europe’s leading insurance technology provider.
Have you put a limit on what maximum you can invest in a startup?
Wow, what a good question! Currently, there is no limit. Everything depends upon the vision of the startup, the founder’s passion, and the inherent value within the idea. I am lucky to have invested in groundbreaking and innovating concepts worldwide, the value of which I’m seeing getting increased day by day.
What is your message to the entrepreneurs? Some words of wisdom?
I fundamentally believe to the core of my heart that the startup idea having the capability to drive long-term growth creates value. And for this, you need transparent communications, exhaustively defined targets, building and nurturing of great teams. For producing long-term value, entrepreneurs must be persistent and patient.