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First Cheque with Cheryl Mack & Maxine Minter
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A Day One® show · 56 Episodes

First Cheque with Cheryl Mack & Maxine Minter

Open-sourcing conversations with experienced investors globally

First Cheque brings you the world of early-stage investing. Join us as we engage in insightful conversations with some top Investors worldwide. Uncover the inner workings of early-stage investing and gain practical knowledge from seasoned, successful investors. Learn about their perspectives, decision-making approaches, and the valuable lessons they've acquired throughout their journeys.

Whether you're a novice or an experienced investor, a founder or an operator, this show aims to inspire and equip you with the tools to become a proficient investor in early-stage businesses and understand how investors think. Hosted by Cheryl Mack & Maxine Minter.

First Cheque is a Day One show. Day One® is the podcast network dedicated to founders, investors, and operators. Tune in for an enriching experience as we uncover the secrets to becoming a skilled early-stage investor.

New this week

How to Think About M&A as a Startup with Alex Feldman

Alex Feldman's first-ever investment was a bet on the BHP–Rio Tinto merger.

▶ Play episode 17 June 2026 · EP 56
How to Think About M&A as a Startup with Alex Feldman

All episodes

View archive →
Episode 55 · 8 June 2026
How to Think About Equity as a Startup Employee
Cheryl Mack & Maxine Minter
Episode 54 · 18 May 2026
How to Pick Pre-Seed Winners Before There's Any Data
Cheryl Mack & Maxine Minter
Episode 53 · 5 May 2026
Closing the Gender Investment Gap with Data with Noga Edelstein
Cheryl Mack & Maxine Minter
Episode 52 · 20 April 2026
How to Build a Global Pre-Seed Fund from Scratch
Cheryl Mack & Maxine Minter
Episode 51 · 5 February 2026
How to Pick Your First Market for International Expansion
Cheryl Mack & Maxine Minter
Episode 50 · 12 January 2026
The Australian Venture Playbook for 2026
Cheryl Mack & Maxine Minter
Episode 49 · 17 November 2025
What are VC Fund Secondaries?
Cheryl Mack & Maxine Minter
Episode 48 · 20 October 2025
Why “Boring” Businesses Make the Best Startups (Replay Ep with Matthew Browne)
Cheryl Mack & Maxine Minter
Episode 47 · 6 October 2025
Inside Super Returns: How the Biggest Investors Pick Venture Funds
Cheryl Mack & Maxine Minter
Episode 46 · 22 September 2025
How Prosus Ventures Became an “Honorary Australian” Fund
Cheryl Mack & Maxine Minter
Episode 45 · 8 September 2025
Why Australia’s AI Opportunity Is Bigger Than We Think
Cheryl Mack & Maxine Minter
Episode 44 · 28 July 2025
Decode the VC Dictionary Before Your Next Raise
Cheryl Mack & Maxine Minter
Episode 43 · 11 July 2025
Scaling Solo: How Charles Hudson Built a High-Volume VC Model at Precursor Ventures
Cheryl Mack & Maxine Minter
Episode 42 · 2 July 2025
Why Australia Builds More Unicorns per Dollar Than Anyone | with Ben Grabiner from Side Stage Ventures
Cheryl Mack & Maxine Minter
Episode 41 · 2 June 2025
Nnamdi Okike's Playbook for Investing in Non-Obvious Winners
Cheryl Mack & Maxine Minter
Episode 40 · 5 May 2025
Pocket Sun’s Guide to Standing Out as an Emerging Investor
Cheryl Mack & Maxine Minter
Episode 39 · 22 April 2025
Inside Monique Woodard’s Solo GP Playbook
Cheryl Mack & Maxine Minter
Episode 38 · 7 April 2025
How James Tynan from Square Peg Invests in EdTech
Cheryl Mack & Maxine Minter
Episode 37 · 24 March 2025
Crafting Your Investment Thesis: How to Decide What to Invest In
Cheryl Mack & Maxine Minter
Episode 36 · 10 March 2025
Decoding Startup Investment: SAFE Notes, Convertible Notes & Priced Rounds
Cheryl Mack & Maxine Minter
Episode 35 · 24 February 2025
Mastering Early-Stage Investing: From Checklists to Decision Diaries
Cheryl Mack & Maxine Minter
Episode 34 · 24 February 2025
The Venture Fund Playbook: Raising, Deploying & Exiting Smarter
Cheryl Mack & Maxine Minter
Episode 33 · 10 February 2025
Angel Investing 101: How To Not Run Out Of Money
Cheryl Mack & Maxine Minter
Episode 32 · 27 January 2025
From Firefox to AI: Mozilla’s Fight for Open Technology
Cheryl Mack & Maxine Minter
Episode 31 · 16 December 2024
The 2024 Wrap-Up and Spicy Predictions with Cheryl & Maxine
Cheryl Mack & Maxine Minter
Episode 30 · 2 December 2024
Leveraging AI to Predict Venture Success: John Sharp's Journey with Hatcher+
Cheryl Mack & Maxine Minter
Episode 29 · 18 November 2024
Navigating the Hype Cycles and Early-Stage Deep Tech Investing with Emily
Cheryl Mack & Maxine Minter
Episode 28 · 4 November 2024
Navigating Early-Stage Investing and Scaling with Tim from Turo
Cheryl Mack & Maxine Minter
Episode 27 · 7 October 2024
From Zero to One: Why Founders Make Exceptional Early Stage Investors with Matthew Browne
Cheryl Mack & Maxine Minter
Episode 26 · 16 September 2024
Navigating Venture Capital: Aligning Incentives and Realistic Outcomes with Georgie Turner
Cheryl Mack & Maxine Minter
Episode 25 · 2 September 2024
From Scalpel to Syndicate: Paul Kelly's Guide to Navigating Biotech Investing
Cheryl Mack & Maxine Minter
Episode 24 · 19 August 2024
Unlocking Tax Benefits for Angel Investors: A Deep Dive into ESIC, ESVCLP, and Investment Strategies with Cheryl Mack and Maxine Minter
Cheryl Mack & Maxine Minter
Episode 23 · 5 August 2024
Q&A: Practical Advice on Secondaries, Valuations, and Building Strong Investor Relations
Cheryl Mack & Maxine Minter
Episode 22 · 22 July 2024
Exploring Growth Stage Investing with Ex-Investment Banker Turned VC
Cheryl Mack & Maxine Minter
Episode 21 · 7 July 2024
Bronwen Clune on Risk Appetite and the Future of Australian Startups
Cheryl Mack & Maxine Minter
Episode 20 · 24 June 2024
Portfolio Allocation: Diversification vs. Concentration Strategies Unpacked
Cheryl Mack & Maxine Minter
Episode 19 · 11 June 2024
The Value of Being the First Investor: Insights from Ash Fontana
Cheryl Mack & Maxine Minter
Episode 18 · 26 May 2024
Marvin Liao Shares Insights on Investing and Developing an Edge in Startup Ecosystems
Cheryl Mack & Maxine Minter
Episode 17 · 13 May 2024
The Debate Over Follow-On Investments in Early-Stage Investing
Cheryl Mack & Maxine Minter
Episode 16 · 29 April 2024
The Art of Getting to Conviction: Strategies for Successful Investing
Cheryl Mack & Maxine Minter
Episode 15 · 15 April 2024
Startmate CEO Michael Batko discusses community-building and portfolio construction in early-stage investing.
Cheryl Mack & Maxine Minter
Episode 14 · 1 April 2024
Understanding Fund of Funds: A Primer on Investing in Venture Capital
Cheryl Mack & Maxine Minter
Episode 13 · 17 March 2024
Elicia McDonald discusses resilience and founder empathy in venture investing
Cheryl Mack & Maxine Minter
Episode 12 · 4 March 2024
Trang Nguyen on Investing in Ambitious Founders and Building Lasting Venture Franchises
Cheryl Mack & Maxine Minter
Episode 11 · 18 February 2024
Craig Blair Shares Insights on Investing and Building a VC Fund
Cheryl Mack & Maxine Minter
Episode 10 · 5 February 2024
Sam Wong discusses building an ecosystem, leverage, and investing in New Zealand.
Cheryl Mack & Maxine Minter
Episode 09 · 21 January 2024
Angel Investing: On-Ramps, Communities, and Maximizing Learning
Cheryl Mack & Maxine Minter
Episode 08 · 7 January 2024
Angel investing is a team sport - building your network funnel with Anabel Lippincott Paksoy
Cheryl Mack & Maxine Minter
Episode 07 · 22 December 2023
Tis the season to be reflective - 2023 in review on First Cheque
Cheryl Mack & Maxine Minter
Episode 06 · 17 December 2023
Elaine Stead discusses bravery, diversity, and changing the investing ecosystem
Cheryl Mack & Maxine Minter
Episode 05 · 3 December 2023
The Art of Building a Network: How Rayn Ong Became the All-Seeing Eye of the Australian Startup Ecosystem
Cheryl Mack & Maxine Minter
Episode 04 · 19 November 2023
Building a Network-Powered Family Office for Impactful Investing with Judy Anderson-Firth Group CEO of Euphemia
Cheryl Mack & Maxine Minter
Episode 03 · 5 November 2023
Dan Gavel on Building a Diversified Investment Strategy in Venture Capital
Cheryl Mack & Maxine Minter
Episode 02 · 22 October 2023
Investor Jessy Wu discusses the importance of bravery and building a personal brand in the VC industry
Cheryl Mack & Maxine Minter
Episode 01 · 2 October 2023
Your Warm Intro to First Cheque with Cheryl Mack & Maxine Minter
Cheryl Mack & Maxine Minter
Your hosts
Cheryl Mack

Cheryl Mack

CEO

Cheryl Mack is the CEO of Aussie Angels, a platform dedicated to democratizing angel investing in Australia and New Zealand. With over 20 startup investments, she leads an angel syndicate of more than 120 investors and co-runs the 361 Angel Club, which includes over 400 investors. Cheryl is a strategic advisor to several startups and a mentor for programs like Startmate and Founder Institute. Her career includes leadership roles at Stone & Chalk and the Australian Computer Society, and she was the CEO of StartCon for four years, where she created the APAC-wide Pitch for $1M competition. Cheryl is also known for her appearances on Startup Daily as the Pitch Doctor. She is passionate about community building, marketing, and helping both startups and angel investors succeed.

Maxine Minter

Maxine Minter

Partner

Maxine Minter is an Australian entrepreneur, investor, and executive coach with a diverse background in law, startups, and venture capital. She is the Founder and General Partner of Co Ventures, Australia's first dedicated pre-seed venture fund led by a solo female General Partner. Co Ventures focuses on investing in early-stage startups with at least one Australian founder aiming to scale globally, particularly in the U.S.

In August 2024, Co Ventures successfully closed its first fund, raising $5 million to support pre-seed tech startups.

Prior to founding Co Ventures, Maxine established Co Lab, a platform that connects founders and CEOs with executive coaches to enhance their leadership skills and company growth.

Maxine's professional journey includes experience as a lawyer, executive coach, founder, and investor. She has been an active angel investor in both the U.S. and Australia, co-founding and operating several startups, including FairShake, a consumer rights platform backed by First Round Capital and Box Group.

In addition to her investment activities, Maxine co-hosts the podcast "First Cheque," where she explores the journeys of early-stage founders and investors, providing insights into the startup ecosystem.

Maxine's multifaceted expertise and commitment to supporting early-stage startups have made her a prominent figure in the Australian venture capital landscape, particularly in empowering founders to achieve global success from the outset.

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