T-shaped: How to build your portfolio as a tech investor
Welcome to the 31 new techies who have joined us this week.
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Ideas to change your mind and transform our world – with insights and inspiration from the global LEAP community.
This week we’re quoting…
William Bao Bean (General Partner, SOSV; Managing Director, Orbit Startups)
What Bao Bean said:
“One of the biggest challenges that I have encountered is timing…it’s important to identify the problem. But it’s just as important to identify whether or not this is the right time to solve that problem.”
Why timing matters
If markets run on stories, then portfolios run on timing. We all feel pulled towards what everyone else is excited about; and for investors, that might mean backing a company or product based on hype.
But as Bao Bean reminded us, identifying a real problem is only half the work. The other half is judging whether the ecosystem (technology, regulation, adoption) is ready for that solution now.
Silicon Valley Bank’s (SVB) 2025 report on the state of corporate venture capital shows how corporates are getting smarter about this. Two-thirds of corporate VC deals are now seed to Series B (up from 55% in 2015), but investors are pacing deployments and picking the right moment to lean in.
Deal counts are down, even as 2025 is on track for the highest CVC investment in three years: which shows investors are making fewer, sharper bets, rather than giving in to the fear of missing out.
Start with your thesis
Before you decide when to invest, you need to know what you’re looking for. The CFA Institute’s recent report on the future state of the investment industry advises that the investors who thrive over decades are those with a clear, resilient thesis – not a fixed prediction, but a structured point of view about where value will emerge and how technology changes behaviour.
Think of your thesis as a living document. It guides where you search, filters out noise, and helps you say no quickly to the wrong opportunities. It also keeps you intellectually honest: when the market swings, you can ask if the world has really changed, or if you are just chasing momentum or hype.
Another report from WBA Forum on future investment professionals (and what will make them thrive) adds that today’s most effective investors are T-shaped: deep in a sector, but wide enough to connect dots across tech, policy, and culture.
For tech investing, this means you need to understand cloud economics, AI infrastructure, cybersecurity, and digital consumer behaviour – even if you’re not an engineer.
Reserve and deploy with discipline
Great portfolios grow in stages. The SVB report shows that 57% of funds have considered or used secondary sales to unlock capital and stay nimble – a sign of investors actively managing liquidity.
Your reserve strategy (how much capital to keep back for follow-ons) shapes returns as much as your initial picks. Over-dilution or inability to double down on winners is a common mistake, especially when the next round comes faster (and larger) than expected.
Timing matters here too: secondaries, co-investment syndicates, and delayed follow-ons can all be tools if they’re planned, and not happening because of last-minute panic.
Build reputation as well as returns
The CFA report highlights something easy to overlook when you’re focused on ROI: careers compound like portfolios. Successful investors invest not only capital but also credibility. Each deal you back, each founder you support, and each community you join shapes how others see you.
During our interview with William Bao Bean, he said:
“No one works with Orbit for our money, they work with us for our help.”
Money is only one part of the investment puzzle. Your value-add (your connections, expertise, and the help you can give startups through hard pivots) is the stickiness that brings founders back and attracts other investors to your syndicate.
The WBA Forum study notes that tomorrow’s investors need to combine technical fluency, emotional intelligence, and ethical clarity. Deals are, in a way, relationships; and your reputation for fairness and insight will open doors long after one fund cycle ends.
If you’re coming to LEAP 2026…
Come with a living thesis and questions about timing. Use the Investor Lounge and our matchmaking services to meet founders early. Ask peers how they’re planning reserves and liquidity. And look beyond capital: think about what unique value you bring to the table.
Because portfolios, like careers, are built on patience, clarity, and helping the right people at the right time.
And if you’re not planning to come to LEAP 2026…now is the time to change that.
Have an idea for a topic you'd like us to cover? We're eager to hear it. Drop us a message and share your thoughts.
Catch you next week,
The LEAP Team
