As you may know, I have the opportunity to spend one-on-one time with all the participants in the VCFI VC Fund Modeling Course . After speaking with Zamir Habib , I knew I had to feature him.
Zamir Habib, a recent graduate of the Venture Capital Fund Modeling Course, is currently completing a dual MBA with a specialization in finance at two of the top universities in the world.
Notably, Zamir excelled at the 2024 Venture Capital Investment Competition (VCIC), where he distinguished himself as both a Global Finalist and the Asia Champion.
During the course, Zamir asked some of the most insightful questions to date about the content and submitted a model that showcased his strategic mindset and confidence in VC fund portfolio construction.
I had the chance to ask him about his past experiences, his journey through the course, and his plans for taking the next steps into the world of venture capital.
Q. How did your background in engineering shape your approach to business and interest in finance, and what advantages do you think it provides when analyzing potential investments?
My engineering specialization in biomechanics becomes especially valuable when analyzing ventures delivering orthopedics, implants, prosthetics, or medical devices and equipment.
A. When I analyze a potential investment, my engineering background aids in my ability to remain unbiased as I systematically research and evaluate a venture. With a systematic approach to assess an investment based on the team-market fit, product-market fit, and fund fit, the viability of the investment and its risks are easier to understand. My engineering specialization in biomechanics becomes especially valuable when analyzing ventures delivering orthopedics, implants, prosthetics, or medical devices and equipment. My domain knowledge from academic, research, and consulting experience means I can quickly understand a health tech startup’s value proposition and the market they exist in.
Q. Competing at the Venture Capital Investment Competition (VCIC) at a global level must have been intense. What strategies or insights helped you stand out in such a competitive field?
My team from National University of Singapore, stood out because of our ability to dig into key investment risks and propose mitigation strategies.
A. The VCIC Global Finals in North Carolina was very intense. However, even amongst the 12 other regional champions, my team from National University of Singapore, stood out because of our ability to dig into key investment risks and propose mitigation strategies. When we received the startups to analyze, we called industry experts from our network to shed light on technology, market dynamics, and the exit landscape. This strategy allowed us to zone in on what might impact the business’s ability to scale, raise future funding, and exit. The Investment Committee judges responded positively when we structured terms that would help a startup avoid industry and business model specific pitfalls.
Q. Why take a course on Fund modeling and ask such detailed questions? What led you to approach the course content with that specific curiosity, and how did it influence your learning experience?
With experience supporting large family businesses and family offices, this course formalized and filled in gaps in my hands-on learning.
A. During my MBA both in Singapore and now in France, I’ve had opportunities to learn about deal sourcing and due diligence. However, there were fewer opportunities to learn about fund strategies and fundraising from LPs. Following the money, I enrolled in this course and interviewed Dony during the one-on-one to understand fund LP composition and fundraising realities. With experience supporting large family businesses and family offices, this course formalized and filled in gaps in my hands-on learning.
Q. What did you find most challenging or surprising about constructing a VC fund model, and how did your approach evolve throughout the course?
The most interesting learning from the course was the difference between the American and European waterfall methods of paying out distributions.
A. I thought it was very interesting to learn that the American method allows access to the carry earlier in the fund lifecycle. As I progressed through the course, I took a more wholistic view and gained a better understanding of the variables that most significantly impact timing and value of returns. I contextualized this by considering average round sizes and growth lifecycle of ventures in the biotech industry to see the impact on LP returns.
Q. If you could give one piece of advice to other professionals pivoting into venture capital, especially those from technical or engineering backgrounds, what would it be?
If you come from a technical background or if you have a tendency to get obsessive about how a technology works, it’s important to understand how deep is deep enough
A. If you come from a technical background or if you have a tendency to get obsessive about how a technology works, it’s important to understand how deep is deep enough and when to call an expert when assessing a technology, As an investor, an even greater amount of attention needs to be placed on who the stakeholders are, their dynamics, and whether the market is ready or correct for this solution.
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