The next billion dollar idea: Part 3

Reena Jadhav interviews David Hornik of August Capital

Reena Jadhav spoke with David Hornik of August Capital at Vator Splash about his predictions and recommendations for entrepreneurs.

While he believes a lot of the web is still to be done, he is focussed on the Payments space. As David says "it turns out there's a lot of money to be made in money." There are opportunities in how money is going to move on mobile, on web, and from real world to the web.

Some of his investments are:

Wepay.com – group payments platform that allows collection of rent and other payments.

Bill.com – automates invoicing, payments, business documents and more.

Paynearme.com - enables people without credit cards to pay via local centers like 7-Eleven.

His take on the Deals space is that there’s real opportunity here but Groupon has scale which gives them a significant advantage. But he does believe there will be opportunity to come up with variations on the model.

His tips for entrepreneurs who are fundraising:

1. Be completely passionate and love what you do

2. Get close to the people funding companies and get plugged into the ecosystem of accountants, lawyers to get funding.

3 Go to local networking events like Vator Splash to join the ecosystem!