PHOTO BY: OLY RUIZ
Serial investor Rafa Rodrigo on his taste for food and beverage ventures, forays into crypto currencies and NFTs, as well as ingredients for what makes a successful entrepreneur.

Rafa Rodrigo admits his taste for risk wasn’t from his parents. “They both worked nine-to-fives,” says the soft spoken 30-something, “but what they instilled from me helped shaped (my business ethic) to this day.”

Rafa shares that he inherited his openness to culture from his father. “My dad would sleep with me in my room, and we’d binge-watch documentaries and food shows– especially Anthony Bourdain.” He recalls stories of his mother hawk plastic bags at the local palengke, as well as getting paid to do homework when she was growing up. It’s an ethos that Rafa still holds dear to this day. “That’s what I learned naman from my mom– grit.”

It was perhaps no coincidence that his choice of course for college was being in the kitchen as a cook…or in the skies as a pilot. “But I realized that my love for food really won out.”

Graduating a culinary program at 18, Rafa was then gifted his first business by his mother, who was by then making a tidy some producing events.

“She gave me two siomai food stalls. And at the time, me being young and annoying, stupid and arrogant– thought that I was above that.” He confesses that letting the ventures slip into unprofitability is a lesson that haunts him to this day. “It wasn’t just my fault, but I really thought I was so much better than that. Instead of accepting it as a business that could keep me grounded, I know for a fact that I didn’t try hard enough.”

So heading back to the drawing board, or rather, the stage– he got into the events business himself, leveraging other people’s money to save enough to invest when the opportunity arose. “That was a fun time. I eventually began to host acts I actually enjoy.” His notable acts include the Jonas Brothers, Disclosure, Chvrches and Passion Pit. And eventually, he got his resto gig.

Food Stuffs

Rafa remembers intimating wanting to invest in a Singaporean food concept called “Shiok!” — and his disappointment when he could not. Still, his enthusiasm returned when a partner of the said restaurant contacted him…five years later.

“My best friend remembered, told his brother, and they presented YourLocal.”

To Rafa’s eye– the concept was perfect, except for the location. “It was in Legazpi Village, which at the time only had a single Irish Pub (as its food neighbor).” And so, not knowing anything about the food industry and how much money it takes, or the work involved, Rafa invested. “Surprisingly after 7 years, it’s still here!” He laughs good-naturedly. “Looking back, it was very Richard Branson-like, simple grab every opportunity and learn along the way.”

It was also this start which taught him that one isn’t going to get rich with just one business.

After YourLocal, his girlfriend at the time (and now wife), Rene, wanted to put up a nail spa in Kapitolyo, Pasig. “We leased a space but there was this small, off-sized, 22 sqm spot right beside it.”

Since he was at the time importing and selling little-known brands from the US, Rafa decided to venture into retail. “I did everything!” He says, eyes wide, “being a cheap-ass and having time when not doing events, I decided to be shop keeper, cleaner, merchandiser…except for book-keeping, of course.” Between social-media driven sales of Retro Super Future, MNLA, and Outkast, his time in-store allowed him to interact with his clients. “It was similar to the experience abroad, where people actually do small talk with customers.” And while the store eventually closed, Rafa was invited to become part of a basically bigger version–TheNinesPh. More importantly, his time there expanded his network.

And what happened next was a flurry of expansion.

For one of Rafa’s regulars turned out to be Ace Espiritu, which led him to become an investor of Black Sheep fine dining. Simultaneously, another group helped him start his own franchises of Black Scoop coffee, which brought Rafa into the kitchen with Chef Patrick Go, a friend of Charles Paw, a kindred entrepreneur who invited Rafa to travel through the culinary world through ventures in Hanamaruken Ramen (japanese), Champion Hotpot (chinese), Gotchu Gang Rockwell (korean), Anyhow Inihaw (filipino), and Pizza Express. “It’s Charles who allowed me to really explore this side of the food and beverage industry,” says Rafa, “him, Patrick (Go), and me also have shared values when it comes to the business.”

Rafa recounts how that when covid hit, they tried their best to not lay off staff. “I’d rather we not do as well rather than let go of people,” he shares, “and we try to make the working environment good for everyone.”

Delving into the printing business, a creative agency, and even a car wash– Rafa states that he always enters all these ventures with partners. “I knew from the start that I would not have fun going into it alone. I just love that exchange of ideas among people.” And in a world where ideas are valuable, Rafa also finds himself investing in ideas that are literally bought and sold– crypto currencies and NFTs.

Investing in Possibility

Rafa admits he didn’t see it at first. “I mean these cute, Pokemon-like characters…I thought ‘maybe not yet.'” Eventually though he found himself breeding, buying, and selling Axie Infinity teams. “Even now that the market’s kind of down, I don’t see himself pulling out anytime soon.”

He also recalls his first chance at bitcoin, in 2012. “I had a friend who owed me money, and I could either accept 10 bitcoin, then worth 12usd each, or a pair of 200usd Jordan 4s I was a sneaker-head at the time,” he says, scratching his chin, “that 10 bitcoin would be worth 20 million now…if I held onto it for 9 years.” Rafa soon discovered a term in the crypto-community for such non-transactions– “dead-inside.”

Now, he keeps himself as updated as his apps, coming to view such vehicles more than just as a store of value, and being able to drop guru-worthy nuggets such as “Etherium is virtual real estate. Bitcoin is virtual gold. But with NFTs the game is different, because there is so much potential.”

He shares that he is currently invested in 3 other projects with three different groups of people, and considers Cyberkongz his favorite project. For those who want to dip their toes in cyberspace trading, Rafa also suggests putting in at least 100,000 php. “Too little and if the market dips, you panic. If the market goes up you won’t have enough for another project.”

A natural risk-taker, he still however, fondly shares his biggest, scariest and more profitable risk ever.

It was during a beauty pageant where he saw and was immediately invested on meeting one of the judges, so he asked his friend to introduce him. “I was sitting behind him, and I saw his phone. He wasn’t even trying,” Rafa says, disappointingly, “so I said, f*ck this.” At which point he pushed a seat between the judges and introduced himself to the female beauty queen, Rene. “Hi, I’m Rafa.” After chatting awhile, he asked if he could go with her to the after party that night.

“She said yes!”

Today, they have three kids (the eldest, Luca, has flown on more than 200 flights before age 4. The other two, Aurora and Holiday, intend to catch up when restrictions ease). Rene, as well as family and friends are also reasons for why Rafa feels comfortable to take risks. “I know that whatever happens, I’ll have people there to support me.”

Asked for advice, he begins by saying “I don’t want to live in a world of ‘what ifs. Just always shoot your shot! And if you don’t make it, shoot again!” He highlights the need to try (and fail) early, to give a person time to pick oneself up again. “And also, yes, networking and grit are very important (as he’s known from experience), but also be honest with yourself.” Rafa is saddened by people who get themselves pushed around by their peers. “I get it ‘be water,’ but don’t be a copy. Don’t be a preppy fratboy you can’t tell from the next guy. Have your own character.” And as a last bit of advice, he also shares that the only people counting a person’s failures are themselves. “And if anyone else is counting your failures for you, they’re doing really badly at life!” It’s scary advice that’s a recipe for risk– from a risk-taker who knows what it takes to make it.

—alike.com.ph

Real stories. Real people.

We believe that life isn’t about a binary of ones and zeros – but about the sum of our hopes and dreams, our struggles and heartaches, our tragedies and triumphs.

The things that unite us are far stronger than the things that divide us.

And those stories are why we are alike.