VC bet on $3 billion AI firm ElevenLabs after one meeting with founder

An angel investor revealed the story behind his decision to invest in a billion-dollar AI startup in its early stages. Carles Reina, while working at Palantir Technologies, decided to invest in Eleven Labs after just 30 minutes of meeting one of its founders, Mati Staniszewski.

Eleven Labs, founded in 2022, specializes in text-to-speech and voice cloning technology. Despite the lack of a concrete product at the time, Reina recognized the potential in the company and decided to take a chance.

Reina, known for investing in pre-seed companies, looks for technical founders with a clear vision for global success. His investment in Eleven Labs paid off, with the company now valued at billions of dollars and planning for a global expansion and eventual IPO.

Reina’s strategy of investing in overlooked industries has proven successful, with his portfolio including successful companies like Revolut, Volumetric, and Elroy Air.

Reina’s focus on technical founders has been a key factor in his investment decisions. He believes that founders with a deep understanding of their product and market are more likely to succeed, even without a fully developed product.

Staniszewski’s technical expertise and strategic vision convinced Reina to back Eleven Labs early on, despite the challenges in the voice AI market at the time. Now, with plans for global expansion and an IPO on the horizon, Eleven Labs stands as a testament to Reina’s investment strategy.