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Jay Po

Managing Partner and Co-Founder at Stage 2 Capital

Jay Po is the Co-founder and Managing Partner of Stage 2 Capital, a venture capital firm established in 2018 that focuses on providing go-to-market support for early-stage B2B software companies. Prior to founding Stage 2 Capital, he worked as an investor at Bessemer Venture Partners in New York, where he was involved in sourcing significant investments in various companies, including PhishMe and Weave.12

Po graduated from Harvard University and was recognized in Forbes' 30 Under 30 list in 2022 for his contributions to the venture capital field. At Stage 2 Capital, he co-founded the firm with Mark Roberge, the former Chief Revenue Officer at HubSpot, to address a gap in the startup ecosystem related to revenue growth strategies.134 The firm has seen significant growth, raising multiple funds, including an $80 million second fund and a $150 million third fund, aimed at supporting startups in their scaling efforts.34

Outside of his professional endeavors, Jay Po enjoys exploring boba tea spots and spending time with his dog, Lula.1

Highlights

Sep 19 · linkedin

Stage 2 Capital team ramping up!

Welcome Sakib Dadi! Stoked to have you join our mission to bring the best practices of investing and GTM to the next generation of entrepreneurs. Off to the races! Sakib will be investing in B2B software with a focus on infrastructure, AI, and developer tools. @Founders - reach out!

Grind on

#Stage2 #Investing #GTM

Feb 22 · linkedin

Founder friends - anyone using LTV:CAC to measure sales efficiency and customer value? Don't.

I'll be contrarian here to say why I think it's a useless metric and what to track instead.

TLDR: It's a single calculation that uses 3 variables at a point of time which ignores how customers behavior changes over time and which variables drive those changes.

Instead -

  1. Look at monthly customer cohorts to track sales efficiency and assess customer value accretion over time

  2. Examine longitudinal data and isolate trends that are happening both within a cohort and across multiple cohorts, by looking at Cohort CAC Payback (Sales Efficiency) and running a Customer Value Analysis to track revenue per cohort over time (Net Revenue Retention)

Thanks to Anubhav Maheshwari, Daniel Heck, Zachary Garippa, Jotham Ty, Kevin Swain, Mark Roberge, Gabrielle Bier for the help!

Related Questions

What are some of the notable companies Jay Po has invested in?
How did Jay Po transition from Bessemer Venture Partners to Stage 2 Capital?
What is the investment strategy of Stage 2 Capital?
What are Jay Po's key achievements at Bessemer Venture Partners?
How did Jay Po get selected for Forbes 30 Under 30?
Jay Po
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Experience

Co-Founder and Managing Partner at Stage 2 Capital since July 2018
Founder at The TechTavern, Venture Capitalist at Bessemer Venture Partners, Founder at IvyWood Consulting

Location

New York, New York