On this episode, we sit down with Lorrain De Silva, Managing Director at Best Nights VC, during Slush 2022 to get his insights and hot takes on everything from nightlife culture to VC impact.
- Towards the end of his studies, Lorrain worked first with MTV management, Unplugged Sessions, and the European Music Awards.
- Jägermeister decided to set up a CVC three years ago, now called Best Nights VC, and Lorrain has joined in the pursuit of focusing on investments and consumer tech that goes beyond just the product.
- A 6-person team based in Berlin, with open doors for open minds.
- We have to fight the stigma that people outside of the cultural space see VCs as evil capitalists when we are actually the enablers and innovators.
- Hör Berlin, a YouTube channel streaming DJ sets in a little booth, is not the classic business case that would be in our deal flow, but they are culturally relevant entrepreneurs.
- Financial return follows impact and nightlife. The number of best nights, created by their portfolio companies on an annual basis (as their main KPI), was 5.9 million in 2019 and is expected to jump to 22 million in 2022.
- Each of our startups creates best nights for our consumers, through social interactions and real-life experiences. This is our measure of the real impact on nightlife.
- After 2 years of pandemic isolation, people are now more aware of the importance of social interactions, and there is a need for high-quality experiences and intense moments.
- What was very unique and an eye-opener for me was the Amsterdam Dance Event (ADE). The people I am looking for all day as a VC, targeting cultural relevance, were all under one roof.
- To founders who are listening, all entrepreneurs who are operating within nightlife or creating happiness for consumers during the nighttime, should be aware that there is Jägermesiter's CVC: Best Nights.VC
Find Lorrain on:
- LinkedIn: linkedin.com/in/lorrain
Find Ben on:
- Sesamers: smrs.link/BenCostantini
- Twitter: @bencostantini