Unpopular Ventures backs non-consensus startups in overlooked markets like Francophone Africa and Venezuela, investing in 100+ companies per year through an AngelList syndicate structure while sharing carry with a global network of scouts to find deals that other investors initially reject. The fund is built around founder Peter Livingston's "anti-portfolio" of missing early chances to back Instagram, Nubank, and DoorDash, leading to a core thesis of always backing smart people even when their ideas seem "bad" or unpopular.
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