Lucas Swisher
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Inside Coatue's $7BN Growth Fund: Why Price Matters Least | Why Mega Markets are the Most Important | How Mega Funds Can Still Do 5x Returns | How to Assess Durability of Revenue and Margins in AI with Lucas Swisher
- Published
- February 23, 2026
- Duration
- 1h 6m
- Summary source
- description
- Last updated
- Apr 21, 2026
Discusses openai, anthropic, investing.
Summary
Lucas Swisher co-leads the growth fund at Coatue where he has partnered with iconic companies like OpenAI, Harvey, Deel, Canva, Openevidence, Anthropic, and others. Prior to Coatue, he was on the investment team at Kleiner Perkins, where he focused on growth stage software businesses. AGENDA: 04:23 Why Public SaaS Is Getting Crushed in the AI Wave 06:01 H…
In this episode of 20VC, Harry Stebbings interviews Lucas Swisher from CO2 about the intricacies of venture capital, discussing the importance of market size, the dynamics of public vs. private investments, and the evolving landscape of AI and SaaS. They delve into the challenges of valuation, the role of mega funds…
Key takeaways
- The importance of focusing on large market opportunities and the ability of companies to adapt and expand into new markets over time.
- The role of AI in reshaping business models and the potential for larger outcome sizes in the current technological wave.
- The strategic advantage of having a flexible investment mandate to capitalize on opportunities across different stages of company growth.
Why this matters
Understanding the dynamics of market size, adaptability, and investment flexibility is crucial for investors aiming to achieve significant returns in the evolving landscape of technology and AI-driven businesses.
Entities
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Show notes
Lucas Swisher co-leads the growth fund at Coatue where he has partnered with iconic companies like OpenAI, Harvey, Deel, Canva, Openevidence, Anthropic, and others. Prior to Coatue, he was on the investment team at Kleiner Perkins, where he focused on growth stage software businesses. AGENDA: 04:23 Why Public SaaS Is Getting Crushed in the AI Wave 06:01 How to Find Value in the Deluge of Public SaaS 10:34 Durability of Revenue in AI 17:42 Market Size vs. Founder Quality: What Wins? 19:04 Why Pri
Themes
- openai
- anthropic
- investing