Their second investment was AuditBoard. The founders had spent a decade as internal auditors at big four firms, with no engineering background or Stanford on their resume. The kind of profile that gets a polite no before the meeting ends.
Every other investor passed. “The market is too small”, they said.
That company was AuditBoard. In 2024 it sold for $3.1 billion, one of the biggest software exits of the year, on just $43.5M ever raised.
Alejandro didn’t learn to spot that in venture. He learned it in music. His early career was A&R, the people who find talent before anyone signs it. He came up under the man who discovered Linkin Park, a band every label had passed on.
He reads founders the way a scout reads a raw artist. Not by the resume. By whether they’ve lived the thing they’re building.
That instinct isn’t an accident. Alejandro grew up fifteen minutes from the Tijuana border. Son of a mechanic, first in his family, no network.
He backs founders who don’t fit the pattern because he never fit it either.
He’s forty, and he just moved to San Francisco to go all in again. Founders do that. VCs his age don’t.
Full conversation below.
[YouTube] → [Spotify] → [Apple Podcast]
Also in this episode:
[06:15] - Growing up 15 minutes from Tijuana: how it shapes how he reads founders
[16:10] - The bet that changed everything: $4M fund, week one, two accountants with no traction and why he said yes
[19:00] - "TAM's too small" and why every other investor passed on AuditBoard
[27:25] The Linkin Park analogy for how real pattern matching works
[38:45] Act One's AI super analyst trained on 10 years of their own memos
[53:35] Why 3x growth no longer impresses anyone in 2026
[01:00:20] How a $73M fund accidentally became a native AI fund
