This VC helped Giphy grow to a website with 300 million users a day. Here's how he applies a 'leap of faith' approach to investing.

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This VC helped Giphy grow to a website with 300 million users a day. Here's how he applies a 'leap of faith' approach to investing.
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'You're always taking a leap of faith with an investment, and most investors are more wrong than right.'

This story requires our BI Prime membership. To read the full article,Paul Murphy is a partner at VC fund Northzone in London. He worked at Microsoft during its $8.5 billion acquisition of Skype.

Paul Murphy, a partner at VC fund Northzone, has learned that risky tactics are often the best way to get a startup out of first gear. He worked on Microsoft's acquisition of Skype. So, at a bar in New York on a Friday night in 2013, Murphy, then at Betaworks, alongside Giphy's founders made a handshake agreement to fund the business based on a mutual belief and confidence in the company's plans. By Monday morning they had a team of five and the paperwork was signed in the following days.

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