The Second Act - Magazine - Page 43
VANCOUVER, BC, CANADA, November 23, 2022 /EINPresswire.com
XMACHINA AI GROUP INC. ANNOUNCES FILING OF PRELIMINARY NON-OFFERING PROSPECTUS AND LISTING APPLICATION.
XMachina AI Group Inc. (formerly, 1210352 B.C. Ltd, the “Company”) is pleased to announce that it has filed and received a receipt from the British Columbia Securities
Commission (the “BCSC”) for its preliminary non-offering prospectus dated November 22, 2022.
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Vaughn and his co-founders at the Next AI office
After looking through hundreds of listings,
DiMarco came across a micro SaaS at the
intersection of crypto and data that had
potential and decided to pull the trigger.
This investment paid itself back within 12
months. In the meantime, he took a role as
Investment Director at INVEST-AI, a $30M
fund supported by the Quebec government.
He did technical and business due diligence
on over 200 companies, resulting in more
than 50 deals.
His company was later acquired by X
Machina AI and was the catalyst that
resulted in DiMarco joining as a founding
member of the team at X Machina. "I really
bought into the reality that a large segment
of the startup market is growing 20% to 80%
annually. Unlike SaaS, AI companies often
have more service than recurring revenues.
Often that is not enough to justify venture
capital, but it can still be enough to build a
solid $100M business within a decade" he
says. "Our mission is to address this funding
gap, particularly for AI companies."
There has been a learning curve with his
L e ssons
F r om Ser ial
ENtr ep r eneur s
second venture. X Machina has been a much
different beast than any venture DiMarco
was accustomed to, but his time at INVESTAI was invaluable. X-Machina will go public to
access more affordable capital and liquidity
for the entrepreneurs and businesses they
On a more personal level, not much has
changed for DiMarco from his first venture
to his second. He's still just as motivated to
build something huge, and with X Machina,
he and his business partners have found a
model that can scale massively.
So how can you maximize your odds of
success if you're early on your entrepreneurial
journey? DiMarco says when starting out,
you should be looking to do things that are a
great learning experience and prioritize that
over profitability. "Your first act should focus
on maximizing learnings over earnings" he
says. "It's a marathon, not a sprint."
He recommends that entrepreneurs look for
good co-founders. It can take some time
(and some trial and error) to find the right
person or people, but he firmly believes
when you finally find a partner who's the
right fit, it will have been worth the struggle.
"In my first venture, I tried to go at it alone,"
he says. "I probably would have gotten much
further along with good co-founders. It's
incredible how much of a difference great
Finally, DiMarco recommends focusing on
what you're good at and growing from there.
This applies as much to you as an individual
as it does to the core competencies of your
With the current trajectory of X Machina,
it is unlikely we'll be hearing about a third
venture from DiMarco for some time. That, of
course, doesn't mean we never will. "For now,
I'm laser-focused on solving the funding gap
for the expanding segment of incremental
growth companies using AI" he says. "That
probably won't take an entire lifetime... one
day, I will definitely start something else."
"I'm a big fan of the Farnam Street blog (www.fs.blog) &
podcast (The Knowledge Project).
Shane has done a fantastic job detailing mental models and
interviewing subject matter experts in various areas."
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