Nothing Ventured

In this thought-provoking episode, Aarish explores the concept of self-determinism and the chemistry of decision-making. They question the common narrative that attributes success solely to tenacity and drive, examining the role of luck and external circumstances in shaping our lives. Through insightful reflections, the discussion delves into how factors like family background, gender, and race significantly impact one's opportunities and successes. Aarish challenges listeners to consider the extent of their control over decisions and the differences between self-determinism, free will, and agency. Join us for a deep dive into the complexities of personal agency and the forces that influence our paths in life. Timestamps: 00:00:00 - Contrarian Convictions: Self-Determinism vs. Luck 00:02:10 - The Importance of Free Speech 00:03:38 - Making Conscious Choices in Decision-Making 00:04:49 - Cynicism as a Tool for Optimism 00:05:52 - The Balance of Leadership: Empowerment vs. Direction 00:07:25 - The State of the US and Global Dynamics 00:10:01 - American Exceptionalism: A Diminishing Belief 00:11:44 - Migration Trends: US to Europe 00:12:31 - The Case Against Human Colonisation of Mars 00:14:13 - Robotics vs. Human Labor in Manufacturing 00:16:00 - Learning Through Experience: The Value of Menial Tasks 00:19:04 - The Role of Hardship in Building Resilience 00:20:34 - Consciousness vs. Intelligence in Society This episode is sponsored by EmergeOne, fractional CFOs for venture backed tech startups from Seed to Series B. Get in touch at https://emergeone.co.uk/contact-us/ or join the CFO team at https://emergeone.co.uk/join-the-cfo-team/ Sign up for EmergeOne’s weekly newsletter, Off Balance at https://off-balance.beehiiv.com/subscribe Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of Nothing Ventured, host Aarish Shah sits down with Harry Morgan, principal at 7% Ventures, to explore the complexities of investing in climate and deep tech startups. Harry, a former founder turned investor, discusses the challenges of tackling world-shaping problems and the often uncomfortable realities of venture capital, including its tendency to amplify privilege over opportunity. The conversation delves into the unique dynamics of climate investing, highlighting the longer time frames and smaller exits compared to software ventures. Harry emphasises the crucial role of government in determining national priorities and de-risking scientific advancements. He also shares insights on the necessity of bias in venture capital, advocating for a trained approach to backing exceptional founders. Tune in for a thought-provoking discussion on the intersection of investment, innovation, and social impact. Timestamps: 00:00:00 - Introduction to Nothing Ventured Podcast 00:00:10 - Guest Introduction: Harry Morgan from 7% Ventures 00:00:42 - Overview of Today's Episode Topics 00:01:28 - State-Educated Founders and Funding Stages 00:02:26 - Host Reintroduction and Podcast Purpose 00:02:36 - Harry Morgan's Journey from Founder to Investor 00:03:02 - Lessons from Founding a Startup 00:04:31 - Transition from Journalism to Investing 00:05:04 - Balancing Science and Commercial Aspects in Deep Tech 00:05:58 - Importance of Founder Ambition in Deep Tech Investments 00:06:44 - Indexing on Technological Step Change and Founder Execution 00:07:28 - Early Stage Financial Models and Product-Market Fit 00:08:39 - Building a Business vs. Building Revenue 00:09:52 - Specialization vs. Generalization in Founding Teams 00:10:55 - Adaptability and Generalization in Founding Teams 00:11:13 - Importance of Commercial Knowledge in Founding Teams 00:12:02 - Venture Capital's Role in Solving Multi-Decade Challenges 00:13:17 - Market Timing and Structural Challenges in Climate Tech 00:14:39 - Hedging Against Market Timing Risks in Deep Tech 00:15:19 - Execution Risks in Deep Tech Investments 00:16:45 - Government Regulation and Market Timing Risks 00:17:52 - Technology Success vs. Company Failure 00:18:39 - Differentiation Beyond Climate Impact 00:19:26 - Viewing Climate as a Horizontal Rather than a Vertical 00:20:32 - Government's Role in Supporting Innovation 00:21:12 - Economic Benefits of Climate Innovations 00:22:23 - Challenges with Government Grants and Procurement 00:23:28 - Importance of Government Contracts Over Grants 00:24:08 - Issues with Innovate UK and Grant Flywheels 00:25:35 - Government's Role in De-Risking Science 00:26:25 - Cultural Attitudes Towards Failure in the UK 00:27:29 - Zombie Businesses and the Fear of Failure 00:28:45 - Social Mobility and Venture Capital 00:29:55 - Diversity in Venture Capital: Performative or Real? 00:30:54 - Checking Biases in Venture Capital 00:31:39 - Social Mobility Ventures: Creating an Alternative Flywheel 00:33:20 - Redefining Terminology Around Social Mobility 00:34:24 - Levelling Privilege and Access to Opportunities 00:35:17 - Supporting Underprivileged Founders to Take Risks 00:36:32 - Levelling the Playing Field in Access to Resources 00:37:03 - Systemic Problems in Social Mobility 00:38:41 - Education System and Entrepreneurship 00:39:35 - Celebrating Big Successes and Failures 00:40:34 - Social Mobility Ventures: Goals and Timescale 00:41:39 - Inclusivity in Social Mobility Ventures 00:42:49 - Celebrating Self-Made Success Stories 00:44:06 - Changing the Problems Entrepreneurs Solve 00:44:48 - Focus on Inclusion in Angel Investing FindHarry Morgan online at: LinkedIn: https://www.linkedin.com/in/harryemorgan/ Twitter: https://x.com/7pcventures / https://x.com/harryemorgan 7percent Ventures: https://7pc.vc This episode is sponsored by EmergeOne, fractional CFOs for venture backed tech startups from Seed to Series B. Get in touch at https://emergeone.co.uk/contact-us/ or join the CFO team at https://emergeone.co.uk/join-the-cfo-team/ Sign up for EmergeOne’s weekly newsletter, Off Balance at https://off-balance.beehiiv.com/subscribe Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of Nothing Ventured, host Aarish Shah sits down with Dr. Andrea Isoni, Chief AI Officer at AI Technologies and lead author of the influential State of AI report. Together, they dive into the often misunderstood world of artificial intelligence, exploring its practical applications and the potential pitfalls that accompany its use. Andrea discusses the financial implications of implementing AI, particularly the necessity of investing in cybersecurity. He emphasises that while AI may change the landscape of employment, it is unlikely to lead to mass unemployment, prompting a need to rethink job roles rather than entire jobs. The conversation also touches on the emerging hacker economy and the importance of maintaining skepticism towards AI systems, which are not 100% trustworthy. Andrea reassures CFOs that their positions are secure for now, as AI is more about enhancing tasks than replacing entire jobs. Tune in for a candid discussion that cuts through the hype surrounding AI and addresses its real-world implications. Timestamps: 00:00:00 - Introduction and Guest Introduction 00:00:51 - AI and Cybersecurity Spending 00:01:12 - Employment and the Hacker Economy 00:01:44 - Trustworthiness of AI Systems 00:01:58 - Human vs. Synthetically Generated Data 00:02:09 - Host Reintroduction and Podcast Information 00:02:53 - AI Delusion and Marginal Improvements 00:03:44 - Beneficiaries of AI Hype 00:05:00 - AI Sentience and Job Loss Concerns 00:07:08 - Future Job Market and Employment Concerns 00:08:20 - Investment in AI and Startup Hype 00:10:12 - High-Risk, High-Return in AI Investments 00:12:06 - Competitive Landscape in AI Development 00:13:04 - Practical Challenges with AI Tools 00:14:17 - Future of Work and Hacker Economy 00:16:07 - Shift to Fractional Consultancy Model 00:17:31 - Specialisation and Knowledge-Intensive Work 00:18:45 - Assurance and Human Role in AI Systems 00:19:55 - UK Employment and Up-skilling Opportunities 00:20:23 - Nationwide AI Up-skill Programs 00:22:14 - Emotional Reactions to AI Adoption 00:23:16 - Augmentation vs. Replacement by AI 00:25:00 - Effort and Long-Term Benefits in AI Era 00:28:49 - Misconceptions About AI Sentience 00:29:45 - Ethical Concerns in AI Deployments 00:32:33 - AGI and ASI Definitions and Implications 00:34:50 - Science and Error in AI Systems 00:35:01 - Human Role Behind AI Systems 00:37:17 - Regulation and Control in AI Development 00:40:13 - Democratisation of AI Access 00:43:07 - Practical Example: AI in Legal Judgments Find [guest name] online at: LinkedIn: https://www.linkedin.com/in/andreaisoni20/ Twitter: https://x.com/theandreaisoni AI Technologies: aitechnologies.co This episode is sponsored by EmergeOne, fractional CFOs for venture backed tech startups from Seed to Series B. Get in touch at https://emergeone.co.uk/contact-us/ or join the CFO team at https://emergeone.co.uk/join-the-cfo-team/ Sign up for EmergeOne’s weekly newsletter, Off Balance at https://off-balance.beehiiv.com/subscribe Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of Nothing Ventured, host Arish Shah sits down with DDan Pandeni Idhenga, co-founder of the London Venture Capital Network, one of the fastest-growing venture communities in the UK. Dan shares his diverse journey from Namibia to New York and London, with experiences at J.P. Morgan, AIG, and successful startups like Confirm. The conversation delves into the challenges of accessing the venture capital ecosystem, the intricacies of scaling an events business while maintaining its unique charm, and the importance of educating the next generation of venture professionals. Dan discusses the reality check many face when entering VC, delineating three archetypes within the industry: the researcher or analyst, the community builder, and the investor. He also addresses the perceived flaws in the UK's venture model and emphasises the positive culture he aims to foster within the London Venture Capital Network. Tune in for insights on building connections between aspiring VCs, seasoned investors, and ambitious founders. Timestamps: 00:00:00 - Introduction to Nothing Ventured and Dan Pandeni Idhenga 00:01:04 - The Opaque VC Ecosystem and Access 00:03:05 - Transitioning to Community-Based Business 00:04:57 - Vision for the London Venture Capital Network 00:07:37 - Scaling While Preserving Quality 00:09:07 - Identifying the Secret Sauce of Events 00:10:40 - Differentiating LVCN from Other Events 00:12:47 - Building a High-Quality Community 00:15:05 - Lessons from the Namibia Startup Investor Forum 00:18:08 - The Importance of Experimentation in Community Building 00:21:41 - Engaging Students and Young Professionals in VC 00:22:37 - Tools for Breaking into Venture Capital 00:24:16 - Understanding the Three Archetypes in VC 00:27:08 - The Importance of Networking and Writing 00:30:19 - Evolving Landscape of Venture Capital 00:34:19 - Startup Experience vs. Direct Entry into VC 00:40:19 - Adjusting LVCN's Approach to Industry Changes 00:44:57 - The Value of Startup Experience for Aspiring Investors Find Dan Pandeni Idhenga online at: LinkedIn: https://www.linkedin.com/in/danidhenga/ Twitter: https://x.com/DanIdhenga London Venture Capital Network: https://www.londonvcnetwork.com/ This episode is sponsored by EmergeOne, fractional CFOs for venture backed tech startups from Seed to Series B. Get in touch at https://emergeone.co.uk/contact-us/ or join the CFO team at https://emergeone.co.uk/join-the-cfo-team/ Sign up for EmergeOne’s weekly newsletter, Off Balance at https://off-balance.beehiiv.com/subscribe Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of Nothing Ventured, Aarish dives into the theme of Risk, Resilience, and Reinvention—three forces shaping the future of tech right now. Over the past month, we’ve witnessed a sharp divergence across the industry: while crypto infrastructure is quietly being rebuilt behind the scenes, the creator-platform playbook is showing signs of collapse. Join us as we unpack what’s working, what’s faltering, and how founders and investors can navigate the tension between long-term vision and short-term volatility. Timestamps: 00:00:00 - Introduction: Risk, Resilience, and Reinvention in Tech 00:00:17 - Crypto's Resilience: Infrastructure vs. Hype 00:01:32 - Defense Tech Surge: National Security Ventures 00:03:09 - Biotech Drought: Refinement Under Pressure 00:04:34 - Emerging Markets: Strategic Investments and Impact 00:05:50 - Final Thoughts: The New Venture Frontier Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of Nothing Ventured, host Aarish Shah welcomes Marcus Clover, co-founder of Energy Revolution Ventures (ERV). They delve into ERV's mission to accelerate the transition from carbon-heavy energy systems to renewable electrochemical solutions. With a team boasting seven PhDs and three professors, ERV combines deep technical expertise with a venture builder arm, ProSemino, to transform research into viable companies. The conversation covers key topics such as the two winning strategies for hardware companies—cost and functionality—the two megatrends in energy beyond decarbonisation, and the significant reduction in the price of solar and wind energy over the past decade. Marcus discusses the potential for homes and cities to evolve into power stations and highlights that 50% of the technologies needed for the energy transition already exist. The episode also touches on the rapid commercialisation of technology and the future convergence of compute costs with energy prices. Tune in to explore how innovation is shaping a more efficient and sustainable energy landscape. Timestamps: 00:00:00 - Introduction to Nothing Ventured Podcast 00:00:10 - Guest Introduction: Marcus Clover of ERV 00:00:21 - ERV's Mission and Expertise 00:00:32 - ERV's Core Belief and Approach 00:00:53 - Topics for Today's Episode 00:01:25 - Energy Transition Technologies 00:02:00 - Host Reintroduction and Podcast Information 00:02:43 - Marcus Clover's Background and Origin Story 00:03:17 - Early Career and Fuel Cell Technology 00:04:01 - Efficiency of Fuel Cells vs. Fossil Fuels 00:05:06 - Cost Reduction in EVs and Renewable Energy 00:06:00 - Formation of ERV and Partnership with ProSemino 00:07:16 - Economics of Electrons and Deep Tech Investment 00:08:12 - Capital Intensity in Deep Tech and Hardware 00:09:04 - Cost vs. Functionality in Hardware Companies 00:10:10 - Capital and Business Models in Energy Tech 00:11:20 - Challenges in Energy Tech Adoption 00:12:03 - Energy Transition and Efficiency 00:13:15 - Megatrends in Global Energy Demand 00:14:01 - Price Reduction in Renewable Energy 00:15:07 - Barriers to Renewable Energy Adoption 00:17:03 - Narrative and Storytelling in Energy Transition 00:18:00 - Historical Context of Cleantech Investment 00:19:11 - Focus on Fundamentals and Economics 00:20:03 - Rapid Deployment of Solar and EVs 00:21:12 - Future of Energy Tech in the Next Decade 00:22:01 - Homes and Cities as Power Stations 00:23:02 - UK Energy Infrastructure and Policy 00:24:04 - Battery Technology and Energy Storage 00:25:11 - Impact of Energy Tech on Daily Life 00:25:41 - Integrated Energy Solutions for Consumers 00:26:45 - Analogy to Early Internet and Energy Solutions 00:27:42 - Aggregators and Resellers in Energy Tech 00:28:24 - Consumer Behavior and Energy Solutions 00:29:48 - Climate Angle in Energy Investment 00:30:30 - Matching Capital to Energy Models 00:31:12 - Existing vs. Emerging Energy Technologies 00:32:07 - Role of Philanthropy in Frontier Technologies 00:33:03 - Venture Studio and Incubator for Energy Tech 00:34:45 - Challenges in Lab Space for Energy Tech 00:36:34 - Research and Innovation in Energy Tech 00:37:12 - Ecosystem for Cleantech Spinouts 00:38:25 - UK Ambition in Energy Tech 00:39:18 - Energy for Future of Compute 00:40:11 - Cost of Compute and Energy Demand 00:41:40 - Venture Perspective on Data Centers 00:42:21 - Technology Needs for Data Centers 00:43:38 - Energy Demand Spikes in Data Centers 00:44:19 - Stability of Power in Emerging Markets 00:45:01 - Global Energy Distribution and Security 00:46:35 - Collaboration in the Global South 00:48:08 - Sovereign Energy Security and Dependence 00:49:02 - Electrification and Renewable Energy as Solutions Find Marcus Clover online at: LinkedIn: https://www.linkedin.com/in/marcus-clover-47b463a7/ Twitter: https://www.linkedin.com/company/energy-revolution-ventures/ Energy Revolution Ventures: https://erv.io This episode is sponsored by EmergeOne, fractional CFOs for venture backed tech startups from Seed to Series B. Get in touch at https://emergeone.co.uk/contact-us/ or join the CFO team at https://emergeone.co.uk/join-the-cfo-team/ Sign up for EmergeOne’s weekly newsletter, Off Balance at https://off-balance.beehiiv.com/subscribe Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of Nothing Ventured, host Ari Shah welcomes Irena Spazzapan, Managing Partner at Systemic Capital, a venture capital fund focused on addressing planet-scale challenges through technology. Irena shares her journey from Goldman Sachs to venture building, emphasising the importance of software-first, asset-light models in tackling climate issues like decarbonisation and electrification. The conversation delves into the regulatory landscape surrounding physical technologies, the necessity of proactive investment strategies in a power law-driven industry, and the potential implications of shifting funds from money markets as interest rates change. Irena also discusses the dynamics of specialised funds in Europe and their impact on local investment landscapes. Tune in for insights on navigating the intersection of technology and climate solutions. Timestamps: 00:00:00 - Introduction to the Podcast and Guest 00:00:10 - Irena Spazzapan's Background and Systemic Capital 00:00:31 - Climate Solutions and Investment Strategies 00:00:43 - The Role of Regulation in Venture Capital 00:01:00 - Power Law in Venture Capital 00:01:22 - Money Markets and Interest Rates 00:01:41 - Local Strong Funds in Europe 00:02:12 - VC as a Boys' Club 00:02:23 - Call to Action for Podcast Engagement 00:02:46 - Importance of Macroeconomics in Venture Capital 00:03:18 - Interaction Between Physical World and Software 00:05:13 - Examples of Electrification and Physical AI 00:06:19 - AI and Automation in Manufacturing 00:07:22 - Space and Planet-Scale Solutions 00:07:41 - Team Experience in Power and Commodities 00:08:12 - Impact of Macroeconomics on Venture Capital 00:09:13 - Importance of Short-Term Fundraising 00:09:35 - Potential Future Macro Trends 00:10:44 - Impact of War and Defense Tech on Venture Capital 00:11:05 - Avoiding Government Sales and Defense Investments 00:11:26 - The Fourth Turning and Societal Shifts 00:12:15 - Future of AI and Automation 00:12:37 - Societal Acceptance of Technological Shifts 00:13:41 - China's Advancements in Technology 00:14:16 - Robotic Football Teams and AI Progress 00:14:57 - Regulatory Differences Between China and the West 00:15:21 - Observations from Visiting China 00:16:01 - Misconceptions About China's Technological Capabilities 00:16:41 - Europe's Position Between the US and China 00:17:22 - Fragmentation of European Markets 00:18:09 - Power Law vs. Discipline in Exits 00:18:38 - Importance of Planning for the Worst 00:19:03 - Identifying Rocket Ships and Middle Ground Companies 00:20:39 - Creating DPI with Middle Pack Companies 00:21:06 - Explanation of DPI and IRR 00:22:02 - IRR vs. Multiples in Venture Capital 00:23:03 - Impact of Interest Rates on Venture Capital 00:24:34 - IPOs and Market Opportunities 00:25:18 - Public Investors' Attitude Towards Tech in Europe 00:26:18 - Challenges of Expanding Fund Size 00:27:00 - Building Value-Generative Portfolios 00:28:28 - Helping Companies Find Better Homes 00:29:25 - Transatlantic Strategy and Avoiding Continental Europe 00:30:11 - Challenges of Competing with US Tier 1 Funds 00:31:14 - Efficiency and Productivity in Investment Strategy 00:32:01 - Publicly Funded Specialist Funds in Europe 00:32:32 - Penetrating Local Ecosystems 00:33:17 - Deal Flow and Focus in the UK 00:34:01 - Inbound Opportunities from Europe 00:34:23 - Impact of US Firms Entering Europe 00:34:48 - Collaboration with Generalist Funds 00:35:10 - Challenges of Diluting Focus with a Small Team 00:35:46 - Importance of Maintaining a Consistent Strategy 00:36:36 - Barriers to Entry in Asset Management 00:37:32 - Women in Venture Capital and Herd Mentality 00:38:24 - Impact of Downturns on Women in VC 00:39:00 - VC as a Boys' Club 00:39:42 - Building a Different Culture in VC Firms 00:41:11 - Fitting In vs. Bringing Your Own Dynamic 00:42:03 - Managing Sharks in the Industry FindIrena Spazzapan online at: LinkedIn:https://www.linkedin.com/in/irena-spazzapan-741a53/ Twitter: https://x.com/ISpazzapan Systemiq Capital: https://systemiqcapital.earth This episode is sponsored by EmergeOne, fractional CFOs for venture backed tech startups from Seed to Series B. Get in touch at https://emergeone.co.uk/contact-us/ or join the CFO team at https://emergeone.co.uk/join-the-cfo-team/ Sign up for EmergeOne’s weekly newsletter, Off Balance at https://off-balance.beehiiv.com/subscribe Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of Nothing Ventured, host Aarish dives into the latest trends and insights from the venture capital landscape as of June 2025. He reflects on the significant developments in Q4 2024 and Q1 2025, highlighting Nvidia's remarkable performance, which saw revenue soar to $39 billion and $44 billion in consecutive quarters. Despite facing challenges like export controls and the US-China chip war, Nvidia rebounded to become the world’s most valuable company, underscoring the fundamentals driving current AI euphoria in the venture space. Aarish also critiques the emergence of pre-planned AI ventures, exemplified by the $2 billion funding for Mira Murati's Thinking Machines Lab, which lacks a clear product or mission, raising questions about the sustainability of such hype-driven investments. Tune in for a concise, no-fluff analysis of the current state of venture capital, exploring the intersection of hype, hope, and hard truths in the industry. Timestamps: 00:00:00 - Introduction to Nothing Ventured in the News 00:00:17 - Overview of June 2025 in Venture Capital 00:00:49 - Nvidia's Explosive Growth and AI Euphoria 00:01:45 - The Rise of Pre-Planned AI and Faith-Based Investing 00:02:37 - Startup Failures and the Need for Diligence 00:03:49 - Europe's Big VC Play and Structural Challenges 00:05:03 - AI's Impact on San Francisco Real Estate 00:05:55 - Momentum in India and Spain's Tech Markets 00:07:10 - The Split in U.S. Venture Capital 00:08:03 - Norsken VC's Commitment to AI for Good 00:08:46 - Failure Files: Coros and Builder.ai 00:09:29 - Conclusion: Investing in Substance Over Hype This episode is sponsored by EmergeOne, fractional CFOs for venture backed tech startups from Seed to Series B. Get in touch at https://emergeone.co.uk/contact-us/ or join the CFO team at https://emergeone.co.uk/join-the-cfo-team/ Sign up for EmergeOne’s weekly newsletter, Off Balance at https://off-balance.beehiiv.com/subscribe Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of Nothing Venture, host Aarish Shah sits down with Oli Harris, a partner at Dream Ventures, to explore the intriguing parallels between poker and venture capital. Oli shares his background as an entrepreneur and discusses the unique approach Dream Ventures takes in investing, leveraging a gambler's instinct to identify elite technology and consumer companies. The conversation delves into the challenges founders face when transitioning to CEO roles, emphasising the importance of adaptability and delegation. Oli highlights the significance of being a great fiduciary, building trust with both founders and limited partners (LPs), and the impact of larger funds on investment strategies. Tune in to gain insights on what makes a successful founder and the evolving landscape of venture capital. Timestamps: 00:00:00 - Introduction to Nothing Ventured 00:00:10 - Oli Harris: Entrepreneur to VC 00:00:57 - Transitioning from Founder to CEO 00:01:37 - The Role of a Fiduciary in Venture Capital 00:01:57 - Investment Strategies and Founder Characteristics 00:02:49 - The Poker Mindset in Investing 00:03:15 - Networking and Understanding Human Behavior 00:04:53 - The Importance of Adaptability in Founders 00:05:59 - The Challenges of Scaling a Business 00:08:09 - The Difference Between Building Revenue and Building a Business 00:10:58 - Self-Awareness in Founders and CEOs 00:12:07 - The Unusual Journey of Founders 00:13:44 - The Anti-VC Approach of Dream Ventures 00:16:05 - Pragmatic Money Management in Venture Capital 00:17:51 - Understanding DPI and Trust with LPs 00:20:10 - The Three Tiers of Investment Portfolio 00:21:07 - The Importance of Early Exits 00:22:14 - The Reality of Venture Capital Returns 00:24:10 - The Shift in Venture Capital Attitudes 00:25:19 - The Velocity of Money and LP Relationships 00:30:10 - The Challenges of Fund Size and Investment Strategy 00:31:56 - Evaluating Founders: Process and Intuition 00:35:10 - The Human Element in Venture Capital 00:38:07 - The Mental and Emotional Toll on Founders 00:40:01 - The Dangers of Shiny Object Syndrome 00:42:05 - The Importance of Focus in Startups 00:44:58 - Normalising Cashing Out for Founders 00:46:08 - The Future of Secondary Investments in Europe Find [guest name] online at: LinkedIn: https://www.linkedin.com/in/oliharris/ Twitter: https://x.com/ohchopper Dream Ventures: https://www.dreamventures.com/ This episode is sponsored by EmergeOne, fractional CFOs for venture backed tech startups from Seed to Series B. Get in touch at https://emergeone.co.uk/contact-us/ or join the CFO team at https://emergeone.co.uk/join-the-cfo-team/ Sign up for EmergeOne’s weekly newsletter, Off Balance at https://off-balance.beehiiv.com/subscribe Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of Nothing Ventured, host Aarish Shah welcomes Varun Rekhi:, a growth investor at Speed invest, to discuss the evolving landscape of venture capital in Europe. Varun shares insights on why he believes Europe's flywheel is broken, highlighting that the continent faces an output problem rather than an input problem. He emphasises the need for a "roaring 20s mentality" in Europe, akin to the celebratory spirit seen in the U.S. Varun delves into the four Ts of early-stage investing—team, total addressable market (TAM), timing, and traction—while contrasting them with the focus on commercial, financial, and legal aspects in growth-stage investments. He also discusses the importance of developing creative exit strategies and the value of engaging in messy real-world environments to foster first principles thinking. Tune in for an enlightening conversation on the future of venture investing across Europe, the Middle East, and Africa. Timestamps: 00:00:00 - Introduction to Varun Rekhi and the Podcast 00:01:04 - Europe's Venture Ecosystem: A Broken Flywheel 00:02:44 - Macro Context of Venture Capital in Europe 00:03:46 - Understanding Europe's Output Problem 00:05:53 - The Mindset of Public Market Investors 00:08:07 - Celebrating Wealth Creation in Europe 00:10:07 - The Impact of Capital Markets on Growth 00:12:07 - The Role of Talent and Infrastructure in Europe 00:14:13 - Opportunities for Founders in the Current Climate 00:15:51 - The Importance of Distribution and Voice for Founders 00:18:00 - Navigating Early-Stage vs. Growth-Stage Investing 00:22:08 - Key Metrics for Growth-Stage Startups 00:25:19 - The Shift in Investment Focus and Trends 00:29:34 - Advice for Founders on Fundraising 00:30:44 - The Changing Landscape of Venture Capital 00:32:13 - The Rise of Capital Efficiency in Startups 00:37:05 - Future Trends in Direct Listings and Secondaries 00:42:23 - Adapting the Venture Capital Model for Europe Find Varun Rekhi online at: LinkedIn: https: https://www.linkedin.com/in/varunrekhi/ Twitter: https: https://x.com/RekhiVarun Speedinvest: https://www.speedinvest.com/ This episode is sponsored by EmergeOne, fractional CFOs for venture backed tech startups from Seed to Series B. Get in touch at https://emergeone.co.uk/contact-us/ or join the CFO team at https://emergeone.co.uk/join-the-cfo-team/ Sign up for EmergeOne’s weekly newsletter, Off Balance at https://off-balance.beehiiv.com/subscribe Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of Nothing Ventured, host Aarish Shah welcomes Aly Madhavji, managing partner at Blockchain Founders Fund, to discuss the evolving landscape of Web3. They delve into the importance of addressing consumer skepticism and the need for effective education about Web3 technologies. Aly shares insights on how to onboard millions of users seamlessly, highlighting innovative approaches such as the potential of "Crypto nights" on platforms like Amazon Prime. The conversation also explores the implications of central bank digital currencies (CBDCs) and the global shift towards digital currencies, as well as the role of regulation in fostering blockchain innovation. Listeners will gain valuable perspectives on building trust, navigating complex markets, and understanding the intersection of talent, capital, and policy in the blockchain space. Timestamps: 00:00:00 - Introduction to Ali Madhavji and Blockchain Founders Fund 00:00:21 - Ali's Background and Achievements 00:00:41 - Episode Overview: Topics to be Discussed 00:01:07 - Educating the Masses on Web3 00:01:31 - Regulation and Blockchain Startups 00:01:52 - Ali's Fundraising Advice for Founders 00:02:25 - Call to Action: Rate, Subscribe, and Share 00:02:53 - Starting the Conversation with Ali 00:03:14 - Blockchain Beyond the Hype 00:04:03 - Identifying Genuine Blockchain Startups 00:04:46 - Challenges and Opportunities in Blockchain 00:05:46 - Consumer Skepticism and Recovery 00:06:09 - Building Consumer Apps for Web3 00:06:29 - Evaluating Blockchain Startups 00:07:25 - On-Ramping into Crypto 00:07:59 - Crypto Nights on Amazon Prime 00:08:21 - Aim and Format of Crypto Nights 00:09:54 - Educational Aspects of Crypto Nights 00:10:31 - Traditional Finance vs. Decentralised Finance 00:11:29 - Transitioning from Traditional Accounting to Web3 00:12:30 - Decentralised Finance and Financial Inclusion 00:14:59 - De-Banking and De-Risking in Emerging Markets 00:16:58 - Building Durable Products Post-Hype Cycle 00:17:20 - Blockchain's Impact in Emerging Markets 00:18:09 - Trust in National Currencies and Stable coins 00:19:35 - Remittances and Currency Stability 00:21:42 - Central Bank Digital Currencies (CBDCs) 00:23:04 - Government Responsibility and Currency Stability 00:23:48 - El Salvador's Bitcoin Experiment 00:25:00 - Challenges of Using Bitcoin as a Currency 00:27:04 - Global Hubs for Web3: Singapore and UAE 00:28:39 - Effective Regulation in UAE and Singapore 00:30:39 - Talent Attraction in UAE and Singapore 00:32:24 - Bureaucratic Challenges in Western Countries 00:34:11 - Capital and Talent Attraction in UAE and Singapore 00:35:47 - Opportunities for Western Countries 00:36:46 - Sentiment Shift in the US 00:39:12 - Challenges in Europe 00:41:08 - Building and Scaling in the Current Climate 00:42:23 - UK and Europe's Position in the Global Market 00:43:58 - Innovation and Regulation 00:44:08 - Fundraising Challenges and Valuations Find Aly Madhavji online at: LinkedIn: https://www.linkedin.com/in/alymadhavji/ Twitter: https://x.com/aly_madhavji Blockchain Founders Fund: https://blockchainff.com This episode is sponsored by EmergeOne, fractional CFOs for venture backed tech startups from Seed to Series B. Get in touch at https://emergeone.co.uk/contact-us/ or join the CFO team at https://emergeone.co.uk/join-the-cfo-team/ Sign up for EmergeOne’s weekly newsletter, Off Balance at https://off-balance.beehiiv.com/subscribe Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of Nothing Ventured, host Aarish Shah welcomes Alvaro Alvarez del Rio, founder of Boost Capital Partners. Alvaro shares insights from his extensive experience in venture capital, having invested in over 120 software startups with a total exit value exceeding $10 billion. The discussion focuses on how Boost Capital leverages gaming principles to enhance user experiences and drive growth in non-gaming companies. Alvaro emphasises the importance of onboarding processes, retention mechanics, and engagement strategies in scaling businesses. He also discusses the significance of legacy and franchise value for investment firms and advocates for the necessity of specialisation in emerging VC funds. Tune in to explore how these innovative approaches are reshaping the venture capital landscape. Timestamps: 00:00:00 - Introduction to Nothing Ventured Podcast 00:00:10 - Guest Introduction: Álvaro Álvarez del Río 00:00:42 - Applying Gaming Principles to Non-Gaming Companies 00:01:53 - Host Reintroduction and Podcast Overview 00:02:42 - Álvaro's Journey and Boost Capital's Mission 00:03:31 - Example of Gaming UX Strategies in Non-Gaming Sectors 00:05:05 - Stitch Health Case Study 00:08:05 - Importance of User Retention and Engagement 00:10:17 - User Growth vs. Revenue in Venture Capital 00:11:01 - Consumer vs. B2B Go-to-Market Strategies 00:13:42 - Data-Driven User Acquisition and Retention 00:15:37 - First Purchase Profitability in Consumer Goods 00:17:04 - Family Offices as LPs in Venture Capital 00:19:43 - Risk Profiles and Capital Allocation in Family Offices 00:22:27 - Current Market Environment for Venture and Family Offices 00:25:53 - Diversification vs. Concentration in Venture Capital 00:28:06 - Generalist vs. Specialist VC Funds 00:31:47 - Consolidation and Fragmentation in the Venture Ecosystem 00:34:41 - Unique Opportunities and Challenges in European Tech Ecosystems 00:38:31 - Diversity and Talent in Europe 00:41:00 - Progress and Initiatives in European Tech 00:44:28 - Structural Problems and Capital Gaps in Europe 00:45:59 - Meaningful Impact and Tech for Good 00:47:07 - Moral Compass in Investment Decisions Find [guest name] online at: LinkedIn: https://www.linkedin.com/in/alvaroalvarezdelrio/ Twitter: https://x.com/Boost_VC Boost Capital: https://boostcapital.vc This episode is sponsored by EmergeOne, fractional CFOs for venture backed tech startups from Seed to Series B. Get in touch at https://emergeone.co.uk/contact-us/ or join the CFO team at https://emergeone.co.uk/join-the-cfo-team/ Sign up for EmergeOne’s weekly newsletter, Off Balance at https://off-balance.beehiiv.com/subscribe Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of Nothing Ventured, host Aarish Shah sits down with Roger Wade, the visionary founder behind Boxfresh and Boxpark, two iconic British brands. Roger shares his inspiring journey from humble beginnings on a South London council estate to building successful companies, including scaling Boxpark into a cultural landmark in East London. He discusses the importance of having a clear destination when starting a business, emphasising that entrepreneurship is not just about quick wins but enjoying the journey. Roger highlights the significance of migrant stories in the UK and advocates for a 'less is more' approach in venture capital. He also sheds light on the philosophy of transparency in investment terms and the importance of innovative thinking in business. Tune in for a thought-provoking conversation about purpose-driven entrepreneurship and the power of community. Timestamps: 00:00:00 - Introduction to Roger Wade 00:00:10 - Roger Wade's Background and Achievements 00:00:32 - Founding BoxFund and Views on Venture Capital 00:00:42 - Journey from Rags to Riches 00:01:39 - Importance of Knowing Your Destination in Business 00:01:54 - Host Introduction and Podcast Purpose 00:02:36 - Starting the Conversation with Roger Wade 00:02:49 - Roger Wade's Early Life and Challenges 00:03:12 - Moving from Malaysia to the UK 00:04:06 - Experiencing Racism in 1970s Britain 00:04:39 - Struggles with Identity and Education 00:06:00 - University Life and Early Career 00:06:34 - Transition to Entrepreneurship 00:06:54 - Building BoxFresh from a Market Stall 00:07:48 - Selling BoxFresh to Pentland 00:08:09 - Early Motivations and Drive 00:09:02 - Challenges of University and Entrepreneurial Traits 00:09:23 - Shifting Motivations with Age and Success 00:10:14 - Ego and Purpose in Business 00:10:31 - Financial Stability and Legacy 00:11:04 - Building BoxPark and Achieving Financial Freedom 00:12:19 - Eastern Philosophy and Life Stages 00:13:30 - Learning from Business Exits 00:14:33 - Planning for an Exit 00:15:20 - Importance of Knowing Your Business Destination 00:16:02 - Building a Team for Exit 00:17:01 - Rapid Growth of BoxPark 00:18:03 - Differences Between BoxFresh and BoxPark 00:18:28 - Connecting the Dots of Life Experiences 00:19:18 - Belief in Physical Retail 00:20:00 - Evolution and Adaptation in Business 00:21:02 - Pivoting BoxPark to Street Food 00:22:23 - Taking Over Alcohol Licenses at BoxPark 00:23:06 - Launching BoxHall Concept 00:23:30 - Relationship with Enough 00:24:09 - Period of Reflection and Therapy 00:25:08 - Controlling the Monkey Mind 00:26:01 - Working Three Days a Week 00:27:06 - Importance of Calmness and Experience 00:28:01 - Time as the Most Precious Commodity 00:29:20 - Life as a Dance Floor 00:30:40 - Realizing Money Doesn't Define Happiness 00:31:11 - Practicing Stoicism and Simple Living 00:32:05 - Focusing on Health, Relationships, and Legacy 00:33:00 - Celebrating Migrant Contributions 00:34:02 - Multicultural Britain 00:35:06 - Migrants and Entrepreneurship 00:36:00 - Personal Reflections on Being a Londoner 00:37:05 - Potential Political Shifts and Immigration 00:38:03 - Positive Impact of Immigrants 00:39:02 - Personal and Family Contributions to the Economy 00:40:11 - Migrant Necessity for Entrepreneurship 00:41:14 - Critique of Traditional Venture Capital 00:42:07 - Broken VC Model and BoxFund's Approach 00:43:11 - Hands-On Investment Approach 00:44:49 - Rejecting the Herd Mentality in Investments 00:45:10 - Issues with Liquidity Preference Shares Find Roger Wade online at: LinkedIn:https: //www.linkedin.com/in/rogerwade1/ BoxFund VC: https://www.boxfund.co.uk/ This episode is sponsored by EmergeOne, fractional CFOs for venture backed tech startups from Seed to Series B. Get in touch at https://emergeone.co.uk/contact-us/ or join the CFO team at https://emergeone.co.uk/join-the-cfo-team/ Sign up for EmergeOne’s weekly newsletter, Off Balance at https://off-balance.beehiiv.com/subscribe Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of Nothing Ventured, host Aarish Shah welcomes Alex Theuma, founder and CEO of SaaStock, and Kenneth Thomas, Principal at BackFuture Ventures. They delve into the importance of building a strong network over a decade to successfully launch a venture capital firm like BackFuture. The conversation touches on the qualitative aspects of venture capital, emphasizing the significance of interpersonal relationships and honest communication. The trio also explores the challenges of raising a fund amid the recent SVB collapse and discusses the current state of the SaaS industry. Alex and Ken reveal how they are evolving the BackFuture brand while maintaining its unique selling proposition. Tune in for insights on navigating the dynamic world of B2B SaaS investment and innovation. Timestamps: 00:00:00 - Introduction to Guests and Podcast Overview 00:00:55 - Importance of Building a Network for VC Firms 00:01:24 - Decoupling SaaStock and BackFuture Ventures 00:02:09 - Evolution from SaaStock to BackFuture Ventures 00:02:45 - Transitioning from Community Builder to Investor 00:03:06 - Timing and Network in Launching a VC Firm 00:03:49 - Learning by Doing and Providing Capital 00:05:14 - Conviction in Early-Stage Investments 00:06:30 - Art of Picking Investments and Network Leverage 00:09:16 - Ken Thomas on Community-Driven VC Models 00:10:34 - Channels and Process for Deal Flow 00:11:32 - Portfolio Support and Promotion 00:13:11 - Community as a Distribution Channel and Testing Ground 00:14:37 - Challenges of Raising a Fund During Market Downturn 00:15:05 - Initial Fundraising Experience and Market Impact 00:16:07 - Difficulties in Raising from LPs 00:17:59 - Continued Challenges in Fundraising 00:18:20 - Evolution of BackFuture Ventures' Thesis 00:19:22 - Decoupling SaaStock and BackFuture Ventures Brands 00:20:25 - Is SaaS Dead? The Impact of AI and No-Code Tools 00:21:24 - AI as a Technology and SaaS as a Business Model 00:22:18 - Evolution and Future of SaaS 00:23:52 - AI-Powered SaaS and Legacy SaaS Companies 00:25:03 - Differentiating AI Companies from SaaS Companies 00:26:00 - Founders' Perspective on AI and SaaS 00:27:22 - Enterprise Sales and SaaS Stickiness 00:28:25 - Market Focus: Enterprise vs. SMEs 00:29:49 - Capital Efficiency and Non-Dilutive Funding in SaaS 00:30:47 - Shift Towards Bootstrap Companies 00:32:07 - Competition Among VCs and Fewer VC-Backed Companies 00:32:36 - Impact of COVID on SaaStock and Human Connection 00:34:15 - Transition to Virtual Events During COVID 00:35:55 - Success and Fatigue of Virtual Events 00:37:54 - Importance of Face-to-Face Interaction 00:38:51 - Ken Thomas' Introduction to SaaStock 00:39:46 - Virtual vs. In-Person Events Post-COVID 00:41:09 - Value of In-Person Events and Meaningful Conversations 00:42:34 - Contrarian Convictions and Risk Appetite 00:43:34 - Human Interaction and Emotional Connection Find Alex Theuma online at: LinkedIn: https://www.linkedin.com/in/alextheuma/ / Twitter: https://x.com/alextheuma / SaaStock: https://saastock.com Find Kenneth Thomas online at: LinkedIn: https://www.linkedin.com/in/kennethkashifthomas/ Backfuture VC: https://backfuture.vc This episode is sponsored by EmergeOne, fractional CFOs for venture backed tech startups from Seed to Series B. Get in touch at https://emergeone.co.uk/contact-us/ or join the CFO team at https://emergeone.co.uk/join-the-cfo-team/ Sign up for EmergeOne’s weekly newsletter, Off Balance at https://off-balance.beehiiv.com/subscribe Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of Nothing Ventured, host Aarish Shah welcomes back repeat founder, angel investor, and blockchain expert Jay Gujral for the second part of their insightful conversation. Jay shares his entrepreneurial background, discussing how both of his parents were involved in business, including his father's art shop, Athena. The discussion delves into the current state of the market, particularly in the UK, and explores the intersection of emerging technology, data integrity, and startup ecosystems. Tune in for valuable insights and a deep dive into the evolving landscape of venture capital and entrepreneurship. Don't forget to check out part one for more context! Timestamps: 00:00:00 - Introduction and Guest Overview 00:00:31 - Host and Podcast Introduction 00:01:04 - Jay's Entrepreneurial Family Background 00:02:06 - Impact of Entrepreneurial Family on Jay 00:03:08 - Early Business Ventures 00:05:10 - Cultural Influence on Entrepreneurship 00:07:09 - State of the Market and Venture Capital 00:08:33 - Challenges for Emerging Fund Managers 00:10:39 - Shift Towards R&D Intensive Businesses 00:12:52 - Community-Led Funds and Web3 00:16:01 - Venture Ecosystem Reset 00:18:18 - European Venture Capital Opportunities 00:19:03 - Project Europe and Emerging Funds 00:21:50 - Age and Success in Entrepreneurship 00:22:28 - Education and Financial Literacy 00:25:10 - UK Entrepreneurship Environment 00:26:39 - Final Thoughts and Reflections 00:27:01 - Contrarian Opinion: Consistency 00:29:19 - Emotional Motivations and Giving Back 00:31:24 - Closing Remarks and Contact Information Find Jay Gujral online at: LinkedIn: https://www.linkedin.com/in/jaygujral/ Twitter: https://x.com/JayGujral Rekord:https: //rekord.io/ This episode is sponsored by EmergeOne, fractional CFOs for venture backed tech startups from Seed to Series B. Get in touch at https://emergeone.co.uk/contact-us/ or join the CFO team at https://emergeone.co.uk/join-the-cfo-team/ Sign up for EmergeOne’s weekly newsletter, Off Balance at https://off-balance.beehiiv.com/subscribe Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of Nothing Ventured, host Aarish Shah sits down with Jay Gujral, a seasoned entrepreneur and angel investor with a deep understanding of blockchain technology. Jay shares his journey from founding Gradlancer, a student freelance marketplace, to his current venture, Record, which aims to provide robust data integrity solutions for businesses. The conversation explores the challenges of blockchain adoption, the role of AI in validating information, and the importance of establishing a reliable system of record. Jay emphasises that the future of digital trust should be accessible without requiring extensive technical knowledge. Tune in to hear insights on the early missteps founders often make and how Record aspires to set a new data standard in the industry. Timestamps: 00:00:00 - Introduction to Jay Gujral Welcome to the episode featuring Jay Gujral, a repeat founder and blockchain expert. 00:01:02 - Web3 and Blockchain Adoption Discussion on the challenges of Web3 and the need for broader adoption beyond tech circles. 00:04:04 - Understanding Blockchain's Value Exploring why blockchain matters and its potential beyond cryptocurrency. 00:06:18 - Complexity of Blockchain Solutions The need for simplicity in blockchain applications for mass market adoption. 00:09:02 - The Current State of Blockchain Reflections on the hype around blockchain, NFTs, and the impact of recent scandals. 00:10:11 - Marketing Challenges in Crypto The crypto community's echo chamber and the need for external engagement. 00:11:32 - AI and Blockchain Intersection How AI's growth necessitates a reliable system of record, potentially fulfilled by blockchain. 00:14:15 - Proof of Data Integrity The importance of tamper-proof records in the age of AI and misinformation. 00:17:04 - Real-World Applications of Blockchain Examples of how blockchain can solve real-world problems, such as land title disputes. 00:19:12 - Blockdojo's Approach to Founders Insights into the support provided to early-stage blockchain founders at Blockdojo. 00:22:57 - The Importance of Focus for Founders Advice on the necessity for founders to solve specific problems rather than overreach. 00:25:13 - Record's Vision for Data Standards Discussion on the potential for Record to become a data standard in compliance and risk management. 00:27:44 - Lessons from Gradlancer Jay reflects on his experience building and selling Gradlancer and what he learned. 00:30:01 - The Evolution of Founding a Startup Comparing the startup landscape from Gradlancer to current ventures and the changes in approach. 00:35:11 - Decision to Return to Founding Jay discusses his thought process and motivations for starting again with Record. Find Jay Gujral online at: LinkedIn: https://www.linkedin.com/in/jaygujral/ Twitter: https://x.com/JayGujral Rekord:https: //rekord.io/ This episode is sponsored by EmergeOne, fractional CFOs for venture backed tech startups from Seed to Series B. Get in touch at https://emergeone.co.uk/contact-us/ or join the CFO team at https://emergeone.co.uk/join-the-cfo-team/ Sign up for EmergeOne’s weekly newsletter, Off Balance at https://off-balance.beehiiv.com/subscribe Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of Nothing Ventured, host Aarish Shah is joined by Ed Ebbern and Will McManners, founding partners of MD1 Ventures, Europe's first dedicated national security VC fund. With backgrounds in special forces and defense innovation, they explore the evolving adversarial landscape and the importance of asking better questions in an age of overwhelming data. The discussion highlights the necessity of viewing defense through a preventative lens to avoid conflict, the role of capital access in fostering success, and the vital contributions of small to medium enterprises in developing technological solutions. Tune in for insights on geopolitical narratives and the collective endeavor of security and vigilance in today’s world. Timestamps: 00:00:00 - Introduction to MD1 Ventures 00:02:55 - Early Years in Defense 00:03:34 - Shifts in Military Engagement 00:04:38 - Adversarial Environments and Innovation 00:08:09 - Understanding Terrorism Trends 00:10:00 - Founding Relationship Between Will and Ed 00:11:06 - Diversity in Defense Investment 00:12:39 - Government Collaboration Challenges 00:14:59 - Attracting Talent to Government Roles 00:17:03 - The Role of Private Sector in Defense 00:19:23 - Current Security Zeitgeist 00:22:04 - Importance of Supply Chain Security 00:25:11 - Long-Term Investment Strategies 00:27:49 - Addressing Capital Gaps in the UK 00:30:42 - The Role of SMEs in National Security 00:32:07 - Vulnerabilities in Subsea Infrastructure 00:35:12 - The Impact of Non-State Actors 00:38:01 - Conclusion and Future Considerations Find Ed Ebbern and Will McManners online at: LinkedIn: https://www.linkedin.com/in/william-mcmanners/ LinkedIn: https://www.linkedin.com/in/edwardebbern/ / MD One: https://md-one.com This episode is sponsored by EmergeOne, fractional CFOs for venture backed tech startups from Seed to Series B. Get in touch at https://emergeone.co.uk/contact-us/ or join the CFO team at https://emergeone.co.uk/join-the-cfo-team/ Sign up for EmergeOne’s weekly newsletter, Off Balance at https://off-balance.beehiiv.com/subscribe Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of Nothing Ventured, host Aarish Shah welcomes Mike Bank, founder of Underdog, a pre-accelerated syndicate that supports solo and non-traditional founders in launching revenue-generating businesses while maintaining their day jobs. Mike shares insights from his extensive experience as an investment banker, early-stage VC, and angel investor, discussing the challenges and opportunities in starting a business today. The conversation touches on key topics such as the importance of desirability, feasibility, and affordability in business ideas, the evolution of venture capital, and the inspiring story of a 13-year-old entrepreneur selling mystery seeds. Mike emphasizes the need for hard work and determination, breaking down mental barriers to diversity in entrepreneurship. Tune in to explore the journey of launching a business and the support available for aspiring founders. Timestamps: 00:00:00 - Introduction to Mike Bank and Underdog 00:01:29 - Mentoring DayZero Founders 00:01:57 - The Acceptability of Failure 00:02:17 - Podcast Promotion and Episode Structure 00:03:04 - The Role of Capital in Business 00:05:24 - Democratization of Innovation and Business Creation 00:06:09 - The Youngest Founder at Underdog 00:07:13 - The Seed Box Business Idea 00:08:17 - Real-World Skills Through Entrepreneurship 00:09:44 - Reflections on University and Failure 00:12:28 - The Importance of Effort and Experience 00:17:27 - Understanding Diversity in Entrepreneurship 00:20:15 - Personal Background and Privilege 00:25:03 - The Challenge of Funding Diverse Founders 00:27:12 - The Evolution of Underdog 00:30:31 - Learning from Failure and Mentorship 00:32:18 - The Value of Networks in Startups 00:39:00 - Open Access and Low Friction for Founders 00:42:02 - Demand Validation in Business Success Find Mike Bank online at: LinkedIn: https://www.linkedin.com/in/mfbank/ Twitter: https://x.com/mikefb Underdog: https://underdogx.co This episode is sponsored by EmergeOne, fractional CFOs for venture backed tech startups from Seed to Series B. Get in touch at https://emergeone.co.uk/contact-us/ or join the CFO team at https://emergeone.co.uk/join-the-cfo-team/ Sign up for EmergeOne’s weekly newsletter, Off Balance at https://off-balance.beehiiv.com/subscribe Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of Nothing Ventured, host Aarish Shah welcomes Mike Bank, the founder of Underdog, a pre-accelerated syndicate aimed at supporting solo and non-traditional founders in launching revenue-generating businesses while maintaining their day jobs. Mike shares insights from his extensive career in investment banking, early-stage VC, and as a prolific angel investor with around 100 early-stage bets. The conversation covers a range of topics, including the simplicity of starting a business today, the importance of viewing business ideas through desirability, feasibility, and affordability, and the challenges faced by founders. Mike also reflects on his experience mentoring over 100 DayZero founders, which led to the creation of Underdog, and discusses the significance of hard work in achieving success, irrespective of background. Tune in to learn more about the evolving landscape of venture capital and the inspiring stories of diverse entrepreneurs. Timestamps: 00:00:00 - Introduction to Mike Bank and Underdog 00:00:43 - Key Topics of Discussion 00:01:29 - Mentoring DayZero Founders 00:01:57 - Aarish Shah's Introduction and Podcast Details 00:02:49 - Mike Bank's Angel Investing Journey 00:04:07 - Diversity in Angel Investing 00:06:12 - Types of Investments in Mike's Portfolio 00:07:01 - Transition from Investment Banking to Angel Investing 00:09:40 - Mike's Early Entrepreneurial Experiences 00:11:09 - Learning from Failed Deals 00:13:00 - The Importance of Work-Life Balance 00:15:01 - The Reality of Angel Investing and Failure 00:17:35 - The Debate on Agency and Success 00:19:09 - The Role of Safety Nets in Entrepreneurship 00:22:20 - The Importance of Taking Risks 00:25:06 - Building an Ecosystem and Paying It Forward 00:27:10 - Leveraging the Internet for Opportunities 00:28:43 - The Simplicity and Difficulty of Starting a Business 00:29:02 - Tim Ferriss and the Real World MBA 00:31:01 - Learning on Someone Else's Dime 00:33:01 - The Concept of Underdog and Risk Management 00:34:06 - The Challenges of Traditional Accelerators 00:36:02 - The Startup Triangle of Success 00:37:54 - The New Way of Building Businesses 00:39:06 - Venture Capital Returning to Its Roots 00:41:26 - The Contrarian View on Venture Capital 00:42:15 - Misaligned Incentives in Venture Capital Find Mike Bank online at: LinkedIn: https://www.linkedin.com/in/mfbank/ Twitter: https://x.com/mikefb Underdog: https://underdogx.co This episode is sponsored by EmergeOne, fractional CFOs for venture backed tech startups from Seed to Series B. Get in touch at https://emergeone.co.uk/contact-us/ or join the CFO team at https://emergeone.co.uk/join-the-cfo-team/ Sign up for EmergeOne’s weekly newsletter, Off Balance at https://off-balance.beehiiv.com/subscribe Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of Nothing Ventured, host Aarish Shah sits down with Sam Kaplan, a partner at Five Seasons Ventures, a pan-European venture capital fund focused on investing in iconic and sustainable consumer brands. With an extensive background that includes roles at Citi and Birch Creative Capital, Sam shares invaluable insights into the venture capital landscape. They discuss the intricacies of investing, ranging from small checks of $25,000 to larger sums of $25 million, and delve into the importance of emotional connections to brands in early-stage consumer investing. Sam emphasises that customer acquisition costs reflect brand strength, while retention hinges on product quality, and highlights the unique challenges in consumer sectors compared to tech. The conversation also explores the critical concept of being first-purchase profitable and the significance of careful portfolio construction in venture capital. Tune in for a deep dive into the dynamics of consumer investing and the pivotal role of founders in business success. Timestamps: 00:00:00 - Introduction to the Podcast and Guest 00:00:42 - Overview of Sam Kaplan's Career 00:01:32 - The Importance of Emotional Reaction in Consumer Brands 00:02:03 - Aarish Shah's Background and Podcast Purpose 00:02:51 - Sam Kaplan's Experience at Birch Creative Capital 00:03:30 - Open Door Policy and Learning from All Conversations 00:05:02 - Overcuration and Homogeneity in Venture Capital 00:06:15 - Diversity in Venture Capital and Outliers 00:08:03 - Evaluating Early-Stage Consumer Brands 00:09:03 - Customer Acquisition Cost vs. Retention 00:10:14 - The Role of Brand in All Businesses 00:12:13 - Brand vs. Product in Consumer Goods 00:14:24 - Personal Experience with Brand Loyalty 00:15:05 - The Power of Brand in Commodity Products 00:16:24 - Trust and Brand in Consumer Products 00:17:07 - The Limitations of LTV in Consumer Businesses 00:18:20 - Critical Success Metrics in Consumer Ventures 00:19:03 - Switching Costs in Consumer vs. B2B SaaS 00:20:01 - The Role of ARR in Subscription-Based Consumer Products 00:21:09 - CAC Payback and First Purchase Profitability 00:23:00 - The Challenge of Scaling Consumer Brands 00:24:06 - Identifying Early-Stage Indicators for Success 00:25:06 - The Myth of Economies of Scale in Consumer Ventures 00:26:05 - The Reality of Increasing CAC Over Time 00:27:09 - Strategies for Diversifying Growth Channels 00:28:03 - The Importance of Diversification in Consumer Brands 00:30:16 - The Risks of Diversifying Too Soon 00:31:25 - Supporting New Channels and Geographies 00:32:01 - The Importance of TAM in Consumer Ventures 00:33:06 - Investing in Premium vs. Luxury Brands 00:34:31 - The Challenges of Investing in Luxury Brands 00:36:00 - The End Goal of Venture Funds 00:37:10 - Portfolio Construction in Consumer Ventures 00:38:00 - The Difference Between Tech and Consumer Venture Outcomes 00:39:27 - The Importance of Protecting Downside Risk 00:40:46 - The Role of Entry Valuation 00:42:09 - The Scope of Investment at Five Seasons 00:43:12 - The Risk Profile of Consumer vs. Tech Ventures 00:45:03 - The Importance of Avoiding Zeros in Consumer Portfolios 00:46:07 - The Complexity of Consumer Venture Capital 00:47:51 - The Concept of Value-Add VC 00:49:17 - The Role of Founders vs. VCs in Business Success Find Sam Kaplan online at: LinkedIn: https://www.linkedin.com/in/samuelmkaplan/ Twitter:https: //x.com/FiveSeasonsVC Five Seasons Ventures: https://fiveseasons.vc This episode is sponsored by EmergeOne, fractional CFOs for venture backed tech startups from Seed to Series B. Get in touch at https://emergeone.co.uk/contact-us/ or join the CFO team at https://emergeone.co.uk/join-the-cfo-team/ Sign up for EmergeOne’s weekly newsletter, Off Balance at https://off-balance.beehiiv.com/subscribe Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of Nothing Ventured, host Aarish Shah welcomes Maya Ghayad, a partner at ID4 Ventures, to discuss the evolving landscape of the venture capital industry. With nearly a decade of experience, Maya shares her insights on the significant changes happening within VC, including the phenomenon known as "the death of the middle." They explore the challenges early-stage founders face when navigating valuations, the importance of thorough diligence, and the necessity of an entrepreneur-friendly approach. Maya emphasises the value of understanding a founder's perspective and highlights how investors should support rather than overshadow them. Tune in for a deep dive into the future of European tech investment and the essential dynamics between founders and their investors. Timestamps: 00:00:00 - Introduction to Maya Ghayad and ID4 Ventures 00:01:00 - The Changing Landscape of VC: The Death of the Middle 00:03:00 - Current State of Fundraising for VC Funds 00:04:30 - Emerging Managers and Their Challenges 00:07:00 - The Importance of Due Diligence in VC 00:10:00 - Valuation Challenges for Founders 00:12:00 - The Role of Entrepreneur-Friendly Investing 00:14:00 - Metrics That Matter for Startups 00:16:30 - Navigating the Fundraising Process 00:18:00 - The Value of Accelerators in Today's Market 00:20:00 - Sector-Specific Insights: Space Tech and Beyond 00:22:00 - The Balance Between Founder Autonomy and Investor Guidance 00:24:00 - The Importance of Community and Talent in Startups 00:26:00 - The Impact of Dilution on Founders 00:28:00 - The Future of Accelerators and Their Relevance 00:30:00 - Conclusion and Final Thoughts on VC Dynamics] Find Maya Ghayad online at: LinkedIn: https://www.linkedin.com/in/maya-gayad-37b69033/ Twitter: https://x.com/Maya_Ghayad Id4 Ventures: http://www.id4.vc/ This episode is sponsored by EmergeOne, fractional CFOs for venture backed tech startups from Seed to Series B. Get in touch at https://emergeone.co.uk/contact-us/ or join the CFO team at https://emergeone.co.uk/join-the-cfo-team/ Sign up for EmergeOne’s weekly newsletter, Off Balance at https://off-balance.beehiiv.com/subscribe Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of Nothing Ventured, host Aarish Shah welcomes Simon Kohl, founder of Latent Labs, a startup at the forefront of generative models for computational protein design. Simon shares his journey from studying physics at the Karlsruhe Institute of Technology to his pivotal role in DeepMind's AlphaFold projects, where he developed key uncertainty metrics for protein structure predictions. He discusses the recent $50 million Series A funding raised for Latent Labs and its mission to advance AI-driven biotech. The conversation delves into the transformative potential of generative modelling in drug discovery, the significance of presenting ideas effectively, and the importance of agility and decisiveness in fundraising. Tune in to explore the intersection of biology and machine learning, and how it’s shaping the future of scientific innovation. Timestamps: 00:00:00 - Introduction to Nothing Ventured and Guest Background 00:01:25 - Overview of Generative Modeling and Protein Design 00:02:00 - Host Introduction and Podcast Purpose 00:02:49 - Simon Cole's Experience at DeepMind 00:03:40 - AlphaFold's Impact on Computational Biology 00:10:11 - Real-World Implications of AlphaFold 00:13:03 - The Future of Computational Biology 00:16:38 - Transitioning from DeepMind to Latent Labs 00:17:24 - Building a Strong Team Across Locations 00:20:00 - Support from DeepMind and Community Response 00:21:12 - Europe's Role in Scientific Innovation 00:24:37 - Latent Labs' Approach to Drug Discovery 00:29:01 - Fundraising Insights and Challenges 00:31:43 - Nimbleness in Fundraising and Decision Making 00:35:47 - Balancing Conviction and Market Feedback 00:41:05 - Geographic Flexibility and Talent Access 00:45:23 - Cultural Integration Across Locations 00:48:40 - Importance of In-Person Offsites for Team Cohesion Find Simon Kohl online at: LinkedIn: https://www.linkedin.com/in/simon-kohl-4840a7124/ Twitter: https: //x.com/saakohl Latent Labs: https://www.latentlabs.com/ This episode is sponsored by EmergeOne, fractional CFOs for venture backed tech startups from Seed to Series B. Get in touch at https://emergeone.co.uk/contact-us/ or join the CFO team at https://emergeone.co.uk/join-the-cfo-team/ Sign up for EmergeOne’s weekly newsletter, Off Balance at https://off-balance.beehiiv.com/subscribe Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of Nothing Ventured, host Aarish Shah welcomes investment manager Piotr Bukanski from Beringea. Piotr shares insights from his extensive background in finance, including his time at Merrill Lynch and his current focus as a generalist investor in B2B data, climate tech, and fintech. The conversation delves into the transferable skills from investment banking to growth investing, the importance of risk-taking and accepting failure in venture capital, and the dynamics of transitioning between consumer and B2B investments. Piotr emphasises the value of having a broad funnel of companies as a generalist while also becoming a specialist in specific sectors. He discusses the significance of understanding board dynamics and the necessity of vulnerability in investor-founder relationships. Additionally, Piotr addresses the challenges of climate tech infrastructure projects in relation to cash profiles and the current negative narrative surrounding the European IPO market. Tune in for an engaging discussion on the evolving landscape of venture capital and investment strategies. Timestamps: 00:00:00 - Introduction to Piotr Bukanski 00:01:06 - Transitioning from Investment Banking to Venture Capital 00:03:02 - Unlearning and Learning in Venture Capital 00:05:01 - Dealing with Imperfect Information 00:07:07 - Long-Term Thinking vs. Short-Term Metrics 00:08:34 - Comfort with Uncertainty in Early-Stage Investing 00:10:34 - Finding Reasons to Say Yes in Investments 00:11:44 - Identifying Risks vs. Upsides 00:12:54 - Decision-Making in Venture Capital 00:14:07 - Cultural Attitudes Towards Failure in Venture 00:19:45 - Shifting Focus from Consumer to B2B Investments 00:20:51 - Generalist vs. Specialist Investors 00:22:05 - The Value of Generalist Investors 00:24:05 - Specialisation in Different Stages of Investment 00:30:00 - Developing Skills as a Board Member 00:32:21 - The Importance of Listening on Boards 00:34:37 - Navigating Conflicts of Interest on Boards 00:38:24 - Challenges in Climate Tech Investment 00:39:35 - Capital Requirements in Climate Tech 00:41:08 - Finding Opportunities in Climate Tech 00:45:02 - The Role of Venture Capital in Large-Scale Projects Find Piotr Bukanski online at: LinkedIn: https://www.linkedin.com/in/piotr-bukanski/ Twitter: https://x.com/Beringea Beringea: https://beringea.co.uk This episode is sponsored by EmergeOne, fractional CFOs for venture backed tech startups from Seed to Series B. Get in touch at https://emergeone.co.uk/contact-us/ or join the CFO team at https://emergeone.co.uk/join-the-cfo-team/ Sign up for EmergeOne’s weekly newsletter, Off Balance at https://off-balance.beehiiv.com/subscribe Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of Nothing Ventured, host Aarish Shah welcomes leadership development expert Gillian Davis. They dive into her impressive journey, from her early beginnings in her family's executive recruitment business in Canada to co-authoring the book "First Time Leader" at just 28. Gillian shares her insights on practical leadership strategies, particularly in the tech industry, having worked with companies like WeTransfer, MessageBird, and Spotify. Timestamps: 00:00:00 - Introduction to Gillian Davis 00:00:31 - Key Topics Overview 00:01:17 - Importance of Company Culture 00:01:27 - Host Reintroduction and Podcast Purpose 00:02:19 - Transition from Fampany to Company 00:03:09 - Challenges in Scaling Owner-Led Businesses 00:04:02 - Succession Planning and Leadership Evolution 00:05:08 - Founder Time as Currency 00:06:01 - Right People for Different Stages 00:07:01 - Normalising Business Evolution 00:08:14 - Emotional Attachment to Business 00:09:03 - Employee Lifecycle in Startups 00:10:18 - Importance of Processes in Scaling 00:11:21 - Founders' Self-Awareness and Coach ability 00:12:36 - Three Types of Founders 00:13:29 - Timing for Preparing for Scale 00:14:19 - Early Stage Focus: Product Market Fit 00:15:02 - Roadmap and Mind Mapping for Future 00:16:04 - Emotional Attachment to Office Space 00:17:07 - Red Flags in Company Culture 00:18:08 - Importance of Making Hard Decisions 00:19:22 - Communication During Restructuring 00:20:22 - Building Culture from Ground Up 00:21:46 - Crisis Management and Internal Communication 00:22:46 - Family Business Dynamics 00:23:39 - Reality of Building a Business 00:24:23 - Balancing Employee Happiness and Business Results 00:26:05 - Defining Leadership in Tech-Driven Environments 00:27:01 - Balancing Directive and Facilitative Leadership 00:28:43 - Authentic Leadership During Pandemic 00:29:59 - Accountability in Leadership 00:31:14 - Leadership in Scaling Startups 00:32:06 - Processing Failure as a Leader 00:33:52 - Hands-On Leadership in Startups 00:34:19 - Linking Leadership to Strategy 00:35:24 - Taking Accountability and Earning Respect 00:36:10 - Bringing People Along the Journey 00:37:06 - Building Playbooks That Work for You 00:38:52 - Cultural Differences in Leadership Styles 00:40:11 - Media Influence on Founder Narratives 00:41:20 - Celebrating Founders and Entrepreneurship 00:43:13 - Creating an Inspiring Narrative for the UK Find Gillian Davis online at: LinkedIn: https://www.linkedin.com/in/davisgillian/ Twitter: https://x.com/GillianDavis07 OverTime Leader: https://overtimeleader.com This episode is sponsored by EmergeOne, fractional CFOs for venture backed tech startups from Seed to Series B. Get in touch at https://emergeone.co.uk/contact-us/ or join the CFO team at https://emergeone.co.uk/join-the-cfo-team/ Sign up for EmergeOne’s weekly newsletter, Off Balance at https://off-balance.beehiiv.com/subscribe Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of Nothing Ventured, host Aarish Shah interviews Zoltan Vardy, a seasoned B2B sales advisor and author of "The Launch Code." With nearly four decades of experience and over $2 billion in sales closed for major companies like CBS and NBCUniversal, Zoltan shares invaluable insights on mastering founder-led sales. The discussion focuses on transforming chaos into structure, overcoming the fear of selling, and understanding that sales is about solving problems rather than pushing products. Zoltan emphasises the importance of benefits over features, the iterative nature of sales, and how the journey from 0 to 1 differs significantly from scaling to 100. He also advocates for the significance of formal education in developing critical thinking skills. Tune in to discover how to accelerate your startup's revenue growth through effective sales strategies. Timestamps: 00:00:00 - Introduction to Zoltan Vardy and His Achievements 00:00:30 - Overview of Today's Episode Topics 00:01:35 - Call to Action: Rate, Subscribe, and Connect 00:02:22 - Zoltan's Journey to Writing "The Launch Code" 00:03:09 - The Impact of Zoltan's Work on Founders 00:03:38 - Zoltan's Family Background and Influence 00:06:10 - Transitioning from Corporate Sales to Startup Sales 00:07:41 - Zoltan's Entrepreneurial Experience During the Dot-Com Era 00:09:54 - Combining Corporate Structure with Startup Dynamism 00:11:04 - Founders' Fear of Sales and How to Overcome It 00:13:42 - The Importance of Problem-Solution Connection in Sales 00:15:36 - The Pain of Sales and Iterative Process 00:17:02 - Founder-Led Sales and the Importance of Direct Feedback 00:19:15 - Hiring the Right Salesperson at the Right Time 00:21:21 - Difference Between Business Development and Sales 00:22:29 - Selling Solutions, Not Products 00:24:04 - Case Study: Aleksander Niemczyk and Action Audit 00:26:32 - The Need to Have vs. Nice to Have Products 00:28:11 - Communicating Solutions in Simple Terms 00:30:15 - Creating a Clear Value Proposition 00:32:19 - The Role of Procurement in Sales 00:33:56 - Scaling Sales and Letting Go as a Founder 00:35:10 - Structure Enables Innovation 00:36:04 - Setting Clear Goals and Tracking Performance 00:37:07 - Case Study: Dexery's Growth Journey 00:39:18 - Building the Book vs. Building the Business 00:42:21 - The Risk of Founders Resisting Growth Find Zoltan Vardy online at: LinkedIn: https://www.linkedin.com/in/zoltanvardy/ Twitter: https://x.com/zvardy The Launch Code: http://www.thelaunchcode.net/ This episode is sponsored by EmergeOne, fractional CFOs for venture backed tech startups from Seed to Series B. Get in touch at https://emergeone.co.uk/contact-us/ or join the CFO team at https://emergeone.co.uk/join-the-cfo-team/ Sign up for EmergeOne’s weekly newsletter, Off Balance at https://off-balance.beehiiv.com/subscribe Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of Nothing Ventured, host Aarish Shah welcomes Dr. Tanja Emmerling, a partner at High Tech Gründerfonds (HTGF) and head of the Berlin team. With over a decade of experience in venture capital, Tanja shares her insights into the European tech landscape, highlighting HTGF's role as the most active seed investor in Europe. The discussion covers critical topics such as the impact of tax harmonisation on early-stage investments, the urgency for Europe to enhance its appeal to founders, and the unique decentralised tech hubs in Germany. Tanja also delves into the strengths of Germany's B2B sector in identifying AI use cases, the ongoing pressure for traditional companies to innovate, and the challenge of securing large investment checks, which often still come from the US. Finally, she explains why launching a startup in Europe remains a viable option compared to starting in the US, and how HTGF's innovative public-private fund structure emerged in response to the dot-com bubble collapse. Timestamps: 00:00:00 - Introduction to the Podcast and Guest 00:01:50 - Overview of Venture Capital in Germany 00:02:41 - Challenges in the German Investment Process 00:06:07 - Potential Changes to Streamline Investment 00:07:07 - The Need for a Harmonised European Startup Ecosystem 00:11:09 - Decentralised Tech Hubs in Germany 00:12:10 - Germany's Competitive Advantages in Tech 00:15:01 - Emerging Technology Themes in Germany 00:18:25 - The Pressure for Traditional Companies to Innovate 00:19:14 - Challenges in the Exit Landscape for Startups 00:23:04 - Why Founders Might Choose the US Over Europe 00:25:57 - Talent and Wage Disparities Between Europe and the US 00:29:06 - The Role of HTGF and Its Unique Structure 00:33:38 - Corporate LPs and Their Influence on Fund Strategy 00:37:49 - The Value of Corporate Partnerships for Startups 00:39:20 - Contrarian Conviction: Respecting Time 00:41:00 - Closing Remarks and Where to Find Tanja Online Find Tanja Emmerling online at: LinkedIn: https://www.linkedin.com/in/dr-tanja-emmerling-84593b20/ Twitter: https://x.com/EmmerlingTanja HTGF: https://htgf.de This episode is sponsored by EmergeOne, fractional CFOs for venture backed tech startups from Seed to Series B. Get in touch at https://emergeone.co.uk/contact-us/ or join the CFO team at https://emergeone.co.uk/join-the-cfo-team/ Sign up for EmergeOne’s weekly newsletter, Off Balance at https://off-balance.beehiiv.com/subscribe Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of Nothing Ventured, host Aarish Shah speaks with Ozan Unlu, co-founder and CEO of EdgeDelta, a pioneering company in the telemetry pipeline space focusing on observability and security. Ozan shares insights from his unique journey through engineering, sales, and entrepreneurship, delving into the nuances of transitioning from technical roles to commercial leadership. The discussion covers the importance of understanding customer needs, the challenges of fundraising in a shifting economic landscape, and the distinction between selling high-tech solutions versus consumer products. Ozan emphasizes the significance of continuous data curation in solving complex problems related to observability and security. Tune in to explore these themes and more as Ozan provides valuable perspectives for entrepreneurs and leaders in the tech industry. Timestamps: 00:00:00 - Introduction to EdgeDelta and Ozan Unlu 00:01:00 - The Transition from Technical to Commercial Roles 00:03:00 - Understanding Your Customer 00:06:00 - Sales Strategies: Spaceships vs. T-Shirts 00:09:00 - Navigating Enterprise Sales Cycles 00:10:30 - The Importance of Product-Led Growth 00:12:00 - Fundraising Dynamics: Seed vs. Later Stages 00:14:00 - Valuation Expectations in Different Market Conditions 00:16:30 - The Impact of Growth vs. Efficiency 00:19:00 - Balancing Growth and Profitability 00:22:00 - The Role of Continuous Curation and Inference 00:25:00 - The Challenge of Processing Large Data Volumes 00:28:00 - The Future of AI and Quantum Computing 00:30:00 - The Importance of Data Tiering 00:32:00 - Contrarian Conviction: Self-Awareness in Career Choices 00:45:00 - Conclusion and Final Thoughts Find Ozan Unlu online at: LinkedIn: https://www.linkedin.com/in/ozanu/ Twitter: https://x.com/Ozannlu Company: https://edgedelta.com This episode is sponsored by EmergeOne, fractional CFOs for venture backed tech startups from Seed to Series B. Get in touch at https://emergeone.co.uk/contact-us/ or join the CFO team at https://emergeone.co.uk/join-the-cfo-team/ Sign up for EmergeOne’s weekly newsletter, Off Balance at https://off-balance.beehiiv.com/subscribe Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of Nothing Ventured, host Aarish Shah welcomes Ioto Iotov, founder of Mainset, a venture capital firm focused on fintech and SaaS ventures. Ioto shares his unique journey from South Africa, detailing his background as a chartered accountant and competitive swimmer, and his path to earning an MBA from Columbia Business School. The discussion covers the importance of understanding the foundations and language of business, as well as the long-term relationships that venture capitalists cultivate with businesses. Ioto highlights the rapid growth of the fintech sector, accounting for 3% of financial services revenue and growing at 15% year-on-year, and addresses the challenges financial institutions face in servicing SMEs and SMBs. He also emphasises the importance of empathy in connecting with founders and the value of observation and experience in the venture capital landscape. Tune in to gain insights into the evolving world of fintech and the mindset required for successful investing. Timestamps: 00:00:00 - Introduction to the Episode 00:00:10 - Guest Introduction: Ioto Iotov 00:00:31 - Ioto's Career Background 00:00:41 - Mainset Venture Capital Overview 00:00:53 - Importance of Financial Literacy 00:01:04 - Long-term Relationships in Business 00:01:51 - Empathy and Experience in Venture Capital 00:02:01 - Host Introduction and Podcast Overview 00:02:23 - Encouragement to Engage with the Podcast 00:02:38 - Diving into Financial Literacy 00:03:03 - The Value of Financial Literacy for Founders and VCs 00:03:22 - Financial Literacy Beyond Venture Capital 00:03:53 - Profitability vs. Growth in Venture Capital 00:04:38 - Long-term Investment Perspective 00:05:00 - Valuation and Financial Sophistication 00:05:22 - Frameworks for Business Assessment 00:05:50 - Competitive Positioning and Pricing Power 00:06:33 - Financial Literacy as a Foundational Skill 00:07:06 - The Role of Unit Economics 00:08:25 - Importance of Understanding Business Metrics 00:09:00 - ROI on Business Decisions 00:10:02 - Market Trends: Profitability and Sustainable Growth 00:11:08 - The Shift from Growth at All Costs to Profitable Growth 00:12:07 - Bootstrapping vs. Venture Capital 00:13:00 - The Reality of Fundraising and Capital Availability 00:14:02 - Founders' Responsibility in Capital Management 00:15:09 - Efficient Growth and Return on Investment 00:15:21 - The Impact of Interest Rates and Market Conditions 00:16:07 - Managing Large Capital for the First Time 00:17:28 - Different Capital Needs for Different Businesses 00:17:48 - Pathways to Profitability 00:18:15 - Valuation Methods in Venture Capital 00:18:36 - Mainset's Investment Thesis in Fintech 00:19:21 - The Enduring Nature of Financial Services 00:20:05 - The Role of Financial Services in the Economy 00:21:09 - The Growth of Fintech 00:21:53 - Trends and Excitement in Fintech 00:22:59 - Collaboration vs. Competition in Fintech 00:23:22 - Challenges of Innovating in Large Financial Institutions 00:24:08 - Outsourcing Innovation to Startups 00:25:32 - Banks' Product Offerings for SMEs 00:26:16 - The Rise of Treasury Management Tools 00:27:02 - Banks' Retreat from Servicing SMEs 00:28:01 - Office of the CFO and SME Market Challenges 00:29:09 - The Difficulty of Scaling SME-focused Solutions 00:30:50 - The Challenge of Building a Better Excel 00:32:17 - The Role of ERP Systems in SMEs 00:33:07 - Venture Capital and Market Size Considerations 00:34:04 - The Consequences of Taking VC Funding 00:35:24 - The Importance of Joy in Business Partnerships 00:36:32 - Transparency and Alignment in Venture Capital 00:37:07 - The Importance of Exit Strategy Conversations 00:38:08 - The Time Sensitivity of Investment Returns 00:38:44 - Dual Responsibility of Emerging VCs and Founders 00:39:13 - Empathy Towards Founders 00:40:07 - The Highs and Lows of Entrepreneurship 00:41:10 - The Value of Experience in Venture Capital 00:42:10 - The Debate: Operators vs. Investors 00:43:22 - The Importance of Understanding Business Operations 00:44:24 - Socioeconomic Backgrounds and Breaking into VC 00:45:21 - Improving Diversity at the GP Level 00:46:08 - The Challenge of Building a Track Record in VC 00:47:02 - Finding Ingenious Ways to Overcome Lack of Means Find Ioto Iotov online at: LinkedIn: https://www.linkedin.com/in/iotoiotov/ Twitter: https://x.com/IotoIotov Company: https://mainset.co.uk This episode is sponsored by EmergeOne, fractional CFOs for venture backed tech startups from Seed to Series B. Get in touch at https://emergeone.co.uk/contact-us/ or join the CFO team at https://emergeone.co.uk/join-the-cfo-team/ Sign up for EmergeOne’s weekly newsletter, Off Balance at https://off-balance.beehiiv.com/subscribe Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of Nothing Ventured, host Aarish Shah interviews entrepreneur and mentor Henry Joseph Grant, who shares insights from his extensive experience in scaling startups and driving innovation. The discussion delves into the transformative impact of the iPhone on business, particularly in launching Just Eat, a brand that grew from startup to a $2.44 billion IPO. Henry emphasises the importance of comfort, convenience, and choice in technology, while also highlighting the delicate balance of asking for money versus advice. The conversation explores themes of product-led growth, strategic decision-making in times of cuts, and the unique cross-pollination opportunities at the Web Summit, connecting startups with Fortune 500 companies and investors. Additionally, Henry reflects on the challenges faced by the West in venture capital and economic growth. Tune in for a thought-provoking discussion filled with practical advice for entrepreneurs and innovators alike. Timestamps: 00:00:00 - Introduction to Henry Joseph Grant 00:00:32 - Leveraging the iPhone for Just Eat's Success 00:01:36 - The Cost of Comfort, Convenience, and Choice in Tech 00:02:01 - Host Introduction and Podcast Promotion 00:02:50 - Henry's Return to Podcasting 00:03:43 - Early Days at Just Eat 00:05:17 - Funding Just Eat Through Restaurant Fees 00:05:57 - Guerrilla Marketing at Freshers' Fairs 00:08:22 - The Importance of Doing Things That Don't Scale 00:09:57 - Educating the Market and Overcoming Challenges 00:12:07 - Internal Politics and Leadership at Just Eat 00:14:02 - Owning the Marketplace and Handling Competitors 00:16:42 - Evolution of the Food Delivery Industry 00:18:41 - The Future of Food Delivery: Dark Kitchens and Innovation 00:19:47 - Henry's Diverse Career and Industry Adaptability 00:21:21 - The Impact of Marketplaces and Adding Value 00:23:32 - Legacy and Impact Beyond Monetary Value 00:26:11 - Joining Talixo and Relocating to Berlin 00:28:57 - Overhauling Sales and Partnerships at Talixo 00:30:24 - Achieving Near Profitability and the Impact of COVID-19 00:33:11 - The Importance of Making Cuts the Right Way 00:35:05 - Different Approaches to Handling Cuts During the Pandemic 00:37:43 - Founding Sendoff After a Personal Tragedy Find Henry Joseph Grant online at: LinkedIn: https://www.linkedin.com/in/henryjosephgrant/ Twitter: https://www.linkedin.com/in/henryjosephgrant/ Company: https://www.henryjosephgrant.com/ This episode is sponsored by EmergeOne, fractional CFOs for venture backed tech startups from Seed to Series B. Get in touch at https://emergeone.co.uk/contact-us/ or join the CFO team at https://emergeone.co.uk/join-the-cfo-team/ Sign up for EmergeOne’s weekly newsletter, Off Balance at https://off-balance.beehiiv.com/subscribe Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of Nothing Ventured, host Aarish Shah welcomes Jeff Crusey, a partner at 7% Ventures and seasoned VC with extensive experience in deep tech and startups. The discussion explores the limits of software functionality and usability, the implications of the UK’s approach to de-risking venture investments, and whether US VCs are fostering monopolies. Jeff shares insights on the impact of SEIS and EIS on UK VC numbers and contrasts rent-seeking behaviours with genuine value production in the business landscape. They also debate the necessity of new neobanks and question the concentrated power within the US VC industry. Finally, Jeff expresses his contrarian view on space exploration, arguing against sending people to Mars. Tune in for a thought-provoking conversation on the current state and future of venture capital. 00:00:00 - Introduction to Jeff Crusey Welcome to the episode featuring Jeff Crusey, partner at 7% Ventures, discussing his background and expertise in deep tech. 00:02:01 - The Evolution of Deep Tech Exploring why deep tech is gaining popularity now and comparing investment approaches in the UK and US. 00:05:36 - Mindset Differences in VC Discussing the abundance versus scarcity mindset in US and UK venture capital. 00:08:18 - Challenges for UK Founders Examining the risk aversion in the UK VC landscape and its impact on founders. 00:10:21 - The Flight of Talent Concerns about UK founders leaving for the US and the implications for the local ecosystem. 00:12:13 - First Principles Thinking in VC Jeff's frustrations with the lack of first principles thinking in the US VC ecosystem. 00:14:06 - FOMO and Market Dynamics The influence of FOMO on investment decisions and the implications for startups. 00:15:51 - Capital as a Moat in Deep Tech Discussing the importance of capital in deep tech and the challenges in the UK and Europe. 00:19:11 - The Role of Government Funding Analysing the impact of SEIS and EIS on the UK VC landscape and the need for a clearer picture. 00:20:05 - Comparing Sovereign Wealth Funds The differences between government-backed funds in the UK and Europe versus the US. 00:22:00 - Rent-Seeking vs. Value Production Differentiating between rent-seeking companies and those that produce real value. 00:24:30 - The Neobank Phenomenon Critiquing the proliferation of neobanks and their actual value proposition. 00:27:10 - US vs. UK Banking Systems Comparing the banking landscape in the US and UK, and questioning the need for more neobanks. 00:29:18 - Concerns About VC Consolidation Discussing the implications of VC consolidation and the potential for cartel-like behaviour. 00:31:12 - The Mythology of VC Exploring how the narrative around VCs can distort reality and impact investment decisions. 00:34:31 - The Role of Founders in Value Creation Highlighting the importance of founders in creating value, rather than VCs taking centre stage. 00:36:11 - Contrarian Conviction: Mars Exploration Jeff's belief that sending humans to Mars is not sensible and the case for robotic exploration instead. 00:40:07 - The Future of Automation Discussing the potential for fully automated manufacturing and the implications for human labor. 00:45:39 - Conclusion and Where to Find Jeff Wrapping up the conversation and sharing where to connect with Jeff Crusey online. Find Jeff online at: LinkedIn: https://www.linkedin.com/in/jeffcrusey/ Twitter: http://www.x.com/@JeffCrusey Web: https://www.7pc.vc/ This episode is sponsored by EmergeOne, fractional CFOs for venture backed tech startups from Seed to Series B. Get in touch at https://emergeone.co.uk/contact-us/ or join the CFO team at https://emergeone.co.uk/join-the-cfo-team/ Sign up for EmergeOne’s weekly newsletter, Off Balance at https://off-balance.beehiiv.com/subscribe Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of Nothing Ventured, host Aarish Shah welcomes cognitive and behavioural scientist Kristina Barger . With a diverse background in clinical psychology, tech innovation, and entrepreneurship, Christina shares her insights on the unique challenges faced by founders. The discussion delves into the traits of overachievers, the fine line between ambition and perfectionism, and the common misconception that confidence equates to competence. Christina emphasises the importance of maintaining a balanced life outside of business, highlighting the necessity of social connections and hobbies. Additionally, she discusses her work on ethical AI initiatives in mental health and the significance of decision-making in high-stakes environments. Tune in for valuable perspectives on navigating the entrepreneurial journey. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of Nothing Ventured, host Aarish Shah welcomes Dr. Uzma Choudry, an expert in deep tech and biotech investing. Uzma shares her extensive experience in developing the European tech bio ecosystem, including her role in managing a portfolio of over one and a half billion pounds at one of Europe's largest funds. The conversation delves into the current state of the life sciences venture market, highlighting the recent debloating of the venture bubble and the withdrawal of generous capital. Uzma explains the unique challenges in biotech, where the focus is primarily on de-risking technology and science rather than immediate revenue scaling. She emphasises the necessity for deep pools of capital in biotech investments and discusses how platform companies can showcase their value through their assets. Tune in for insights on sustainable growth and commercialization in the life sciences sector. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of Nothing Ventured, host Aarish Shah welcomes seasoned investor and entrepreneur Chris Donegan. With a rich background in molecular neurobiology and business strategy, Chris shares his insights on the current state of innovation and investment. The conversation explores whether the present and future are more promising than the past, and delves into the ongoing industrial revolutions—highlighting the transition into the AI age. Chris discusses the nuances of investing in advanced technologies, questioning whether a deep technical understanding, such as knowledge of qubits for quantum computing or molecular biology for biotech, is necessary for successful investment. Tune in for valuable perspectives on adapting to change and unlocking value through intellectual property in today's rapidly evolving landscape. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of Nothing Ventured, host Arish Shah welcomes Hannah Meiton, founding partner at Ampli Ventures, a venture capital firm based in Stockholm that specializes in early-stage investments in Nordic B2B SaaS companies. Hannah shares her insights on the importance of founders actively promoting their businesses, emphasizing that simply building a great product is not enough. She discusses the tendency of Nordic startups to undersell themselves and the importance of visibility in the early stages of development. Additionally, Hannah reflects on her experience in scaling businesses and how that informs her investment philosophy, advocating for a hands-on approach to help companies transition from founder-led operations to sustainable, scalable enterprises. The conversation also touches on the potential shift in venture capital towards more concentrated portfolios, reducing reliance on a few key companies for fund returns. Tune in for valuable insights into the evolving landscape of venture capital and the vital role of sales in a founder's journey. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Timestamps: 01:18 - Sellotape as an x-ray generator. 04:12 - Science as universal language. 09:22 - Pursuit of knowledge in science. 12:24 - University tech transfer challenges. 14:58 - Tech transfer at CERN. 20:08 - Altruistic mission of CERN. 22:12 - University equity in startups. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

00:02:25 - South Asian tech professionals' impact. 00:05:06 - Indian entrepreneurs in Europe.00:08:21 - Indians in technology leadership. 00:12:36 - Immigration and technology's future. 00:17:26 - India-Europe tech corridor opportunities. 00:21:30 - European talent for Indian companies. 00:24:10 - Talent acquisition and market dynamics. 00:29:18 - Highlighting successful Indian founders. 00:30:22 - European PR challenges in startups.00:34:14 - Healthcare recruitment innovation. 00:38:49 - Cross-border investment strategies. 00:44:34 - Cultural identity and assimilation. 00:47:20 - Unique challenges for immigrants. 00:51:04 - Competitive nature of the diaspora. 00:56:18 - Second-time founders buying companies. 00:57:25 - Venture capital and business success. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

[00:00:42] Climate refugees in Bangladesh.[00:04:09] Investing in emerging markets.[00:08:01] Bangladesh's unique growth potential.[00:12:10] Bangladesh's investment landscape challenges.[00:17:31] Indian VCs and Bangladesh opportunities.[00:20:49] Cultural dynamics in emerging markets.[00:25:04] Climate adaptation in Bangladesh.[00:30:05] Barriers to climate-friendly solutions.[00:32:08] Younger population's consumption awareness.[00:36:00] Value perception in emerging markets.[00:39:18] Sand battery technology in Vietnam.[00:43:28] Grocery delivery business models.[00:48:34] Grocery shopping in DACA traffic.[00:52:40] Personal shopper experience online.[00:56:01] Embracing mistakes as strengths.[00:58:46] Connecting on LinkedIn. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this special two-part episode of "Nothing Ventured," host Arish Shah sits down with Fred Destin, founder of Stride VC. They delve into the evolving dynamics between founders and venture capitalists, highlighting the surprising discontent founders often feel towards VCs. Fred shares insights from his extensive experience, including his time as a general partner at Accel and Accomplice, where he led investments in companies like Deliveroo and Zoopla. The discussion covers the importance of empathy in the founder journey, the concept of minimalist boards, and how VCs can genuinely support their portfolio companies. They explore the balance of skill and luck in venture investing, the significance of entry price, and the current state of the venture capital landscape. Fred emphasizes the need for VCs to adopt a beginner's mindset and to move beyond lazy thinking, encouraging a more human approach to investing. Join us for an enlightening conversation that challenges conventional perspectives in the venture capital ecosystem. [00:03:05] VCs as human beings. [00:06:06] Self-awareness in board dynamics. [00:09:10] Self-awareness in challenging situations. [00:12:57] The process adds value. [00:17:14] Digital noise and authenticity. [00:19:10] Real-time information challenges. [00:24:47] Empathy for the founder's journey. [00:30:07] The art of listening. [00:32:54] AI's impact on job identity. [00:34:43] The pursuit of happiness. [00:37:42] The challenges of venture capital. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this special two-part episode of "Nothing Ventured," host Aarish Shah sits down with Fred Destin, founder of Stride VC, to explore the evolving landscape of venture capital. They discuss the complex relationship between founders and VCs, highlighting the discontent many founders feel towards traditional venture capital approaches. Fred shares insights from his extensive experience, including his successful investments in companies like Deliveroo and Zoopla, emphasizing the importance of empathy and understanding in the VC-founder dynamic.The conversation delves into key topics such as the significance of minimalist boards, the adaptability required in venture capital, and the balance of skill and luck in making investment decisions. Fred also reflects on the Cambrian explosion in the venture space, the necessity for VCs to embrace a beginner's mindset, and the dangers of lazy thinking. Tune in for a thought-provoking discussion that challenges conventional VC wisdom and offers a fresh perspective on what it means to be a supportive partner for founders. Timestamps: 00:00:10 - Meet Fred Destin: A Venture Capitalist's Journey00:00:43 - Founders' Discontent with VCs00:01:05 - The Importance of Minimalist Boards00:01:37 - Navigating the Founder-VC Relationship00:02:34 - The Role of Trust in Board Dynamics00:03:27 - The Quality of Conversations in Board Meetings00:04:44 - The Dichotomy of Operators as VCs00:05:44 - The Role of Accountability in Board Membership00:06:49 - Empathy and Support for Founders00:08:28 - The Importance of Strategic Conversations00:09:42 - Building Effective Board Relationships00:10:34 - The Role of a Board Member00:11:06 - Creating a Supportive Board Environment00:12:05 - Understanding the Founder’s Perspective00:12:27 - The Need for a Strong Board00:13:40 - The Importance of Trust and Empathy00:14:15 - The Role of a Board in Difficult Times00:15:04 - The Founder’s Identity and Company Success00:16:09 - The Craft of Venture Capital00:17:37 - The Art of Decision-Making in Venture00:18:53 - The Balance of Skill and Luck in Outcomes00:20:18 - The Importance of Supporting Founders00:21:00 - The Role of a VC Beyond Investment00:22:39 - The Impact of Board Composition on Success00:23:50 - The Need for Effective Communication00:25:18 - The Importance of Preparation for Board Meetings00:26:05 - The Founder-VC Relationship Beyond the Board00:27:34 - Navigating Personal Challenges as a Founder00:29:09 - The Role of Trust in Personal Struggles00:30:34 - The Founder’s Responsibility to the Company00:32:00 - The Journey vs. The Outcome00:33:50 - The Craft of Venture: An Artisanal Approach00:35:03 - Building the Craft of Venture Capital00:37:08 - The Importance of Adaptability in Venture00:39:24 - The Role of Decision-Making in Venture Success00:40:49 - The Impact of Strategic Decisions on Company Growth00:42:00 - The Value of Support in the Venture Ecosystem00:43:55 - Conclusion: Reflecting on the Venture Journey Find Fred online at:LinkedIn: https://www.linkedin.com/in/freddestin/Twitter: https://x.com/fdestinStride: https://stride.vc/You can follow Aarish and Nothing Ventured on:LinkedIn: https://www.linkedin.com/in/adsinuk/ | https://www.linkedin.com/company/nothing-ventured-podcast/Twitter: https://x.com/adsinuk | https://x.com/NVPodThis episode is sponsored by EmergeOne, fractional CFOs for venture backed tech startups from Seed to Series B.Get in touch at https://emergeone.co.uk/contact-us/ or join the CFO team at https://emergeone.co.uk/join-the-cfo-team/Sign up for EmergeOne’s weekly newsletter, Off Balance at https://off-balance.beehiiv.com/subscribe Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Find Manish online at: LinkedIn: https://www.linkedin.com/in/manishpatelli/ Twitter: https://x.com/NavaVenturesVC Nava Ventures: https://www.nava.vc/ This episode is sponsored by EmergeOne, fractional CFOs for venture backed tech startups from Seed to Series B. Get in touch at https://emergeone.co.uk/contact-us/ or join the CFO team at https://emergeone.co.uk/join-the-cfo-team/ Sign up for EmergeOne’s weekly newsletter, Off Balance at https://off-balance.beehiiv.com/subscribe Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of Nothing Ventured, host Aarish Shah sits down with Helen Goldberg, co-founder and COO of LegalEdge, to explore the evolving landscape of legal services for fast-growing companies. Helen shares her extensive experience in mergers and acquisitions, having worked with renowned firms like Evershed Sutherland and Baker McKenzie, as well as her role at CBS Viacom Outdoor. The conversation delves into the burgeoning alternative legal services market, the Goldilocks legal principle, and the rise of the fractional model in law. Timestamps: 02:23 Fractional legal services evolution. 05:13 Choosing the right legal partner. 09:14 Fractional legal model's growth. 12:11 In-house legal vs. private practice. 14:36 Importance of early legal advice. 18:20 Contracts as insurance policies. 21:14 AI's impact on legal training. 26:17 European startup ecosystem challenges. 30:14 Funding disparities in the UK. 34:01 Exit readiness for founders. 36:36 Dead equity and shareholder agreements. 40:11 Regulatory challenges for startups. 43:04 Life isn't fair. Find Helen online at: LinkedIn: https://www.linkedin.com/in/helen-goldberg-1339801/ Twitter: https://x.com/GoldbergHelen LegalEdge: https://legaledge.co.uk This episode is sponsored by EmergeOne, fractional CFOs for venture backed tech startups from Seed to Series B. Get in touch at https://emergeone.co.uk/contact-us/ or join the CFO team at https://emergeone.co.uk/join-the-cfo-team/ Sign up for EmergeOne’s weekly newsletter, Off Balance at https://off-balance.beehiiv.com/subscribe Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of Nothing Ventured, host Aarish Shah sits down with Manish Karani, founder of Yareta, a groundbreaking AI tool designed to analyze personal traits and experiences to predict future success for corporations and investors. Manish shares insights from his impressive background, including his experience at Coutts, where he managed investments for ultra-high-net-worth families and achieved significant IRR in both venture capital and real estate. The conversation explores the impact of Liz Truss on the consumer tech sector, the decision-making process behind returning capital to LPs, and the transformative nature of crucible events in shaping perspectives and lives. Manish discusses the declining interest of non-UK LPs in the UK market, the importance of measuring individual responses to hardship, and the strong correlation between challenges faced and entrepreneurial success. Listeners will also learn about quantifying entrepreneurship potential through 27 key traits. Tune in for an enlightening discussion on resilience, investment strategies, and the future of entrepreneurship. 🕒 Time stamps - 00:02:19 - Genesis of Sentient Ventures 00:03:11 - Financial and Business Aspects of Running a Fund 00:04:05 - Impact of Liz Truss's Announcement on Consumer Tech 00:05:05 - Challenges in the Plant-Based Sector 00:06:09 - Decision to Return Capital to LPs 00:07:24 - Personal Crucible Events and Their Impact 00:09:02 - Reflection on Personal Hardship and Career Decisions 00:12:47 - Authenticity and True Meaning in Work 00:16:07 - Hindsight on Liz Truss's Mini Budget 00:18:34 - Political and Economic Challenges in the UK 00:20:13 - Difficulty in Attracting Non-UK LPs 00:23:49 - Fundraising Challenges for Emerging Managers 00:25:53 - Importance of Niche Focus for Fund Managers 00:29:34 - Hardship, Alienation, Illness, and Loss (HAIL) as a Thesis 00:30:33 - Measuring the Process of Overcoming Trauma 00:32:07 - Origin of the HAIL Concept 00:34:28 - Migrant Founders and Resilience 00:36:00 - Insights from Successful Entrepreneurs 00:38:07 - Authenticity in Investor-Entrepreneur Relationships 00:40:31 - Challenges in Assessing Founder Authenticity 00:43:15 - Importance of Authenticity in Investment Decisions 00:44:29 - Introduction to Euretta 00:45:11 - Quantifying Mindset and Personal Traits 00:46:19 - Academic Research on Hardship and Entrepreneurship Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of Nothing Ventured, host Aarish Shah welcomes Andrea Gurnari, a partner at 2100 Ventures, to discuss the intricacies of early-stage entrepreneurship and the venture capital landscape. Andrea shares insights on how founders should approach monetisation, emphasising the importance of deep intellectual honesty and the willingness to acknowledge when an experiment hasn’t worked. The conversation highlights the collaborative nature of the UK startup ecosystem and its advantages for entrepreneurs. Andrea also addresses the need for founders to understand the relativity between ecosystems and offers a contrarian perspective on evaluating reasoning versus output in decision-making. Tune in for valuable advice for early founders looking to navigate the challenges of innovation and productivity in Europe’s old economy.⏱️ Timestamps:00:02:02 - Why the UK for Startups?00:02:18 - The Importance of Monetization00:03:32 - Strategic Market Analysis00:04:54 - Cultural Differences in Socializing00:05:15 - Navigating the UK Ecosystem00:07:02 - The Excitement of the UK Startup Scene00:08:03 - Reflections on the Post-Financial Crisis Era00:09:39 - Deciding When to Pivot or Exit00:10:04 - The Psychology of Founders00:12:16 - The Role of Experimentation00:13:49 - Intellectual Honesty in Decision Making00:14:30 - The Stigma of Failure00:15:18 - Cultural Attitudes Towards Failure in the US vs. Europe00:18:12 - The Need for Acceptance of Failure in Europe00:20:06 - Cultural Components of European Ecosystems00:22:19 - Wealth Creation and Social Envy in Europe00:24:52 - The Role of Migration in Startup Growth00:26:13 - Labor Laws and Startup Flexibility00:29:01 - Breaking Down Barriers in the Ecosystem00:30:34 - The Importance of Cross-Pollination00:32:00 - The Future of the European Ecosystem00:34:40 - The Role of 2100 Ventures00:36:05 - Innovating the Old Economy00:44:01 - Sustainable Industrial Revolution and Climate Tech Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of Nothing Venture, host Aarish Shah sits down with Alokik Advani, Managing Partner at Fidelity International Strategic Ventures. With over two decades of experience in finance, Alokik shares insights into the role of corporate ventures in the startup ecosystem, addressing common misconceptions about their involvement, including the notion of "dumb money." The conversation highlights the increasing participation of strategic investors in deals, the evolving mindset towards sustainable growth (focusing on $100 million ARR rather than billion-dollar valuations), and the importance of patience in the investment landscape. Alokik also discusses the challenges startups face with down rounds and fund structures, emphasising the need for a long-term perspective. Tune in for valuable takeaways and contrarian advice that could reshape your approach to venture capital. 🕒 Time stamps - 02:19 Corporate venture capital's reputation.05:28 Strategic corporate venture capital.07:28 Corporate spinouts and strategic alignment.10:14 Corporate venture and founder dynamics.15:21 Flexibility in investment structures.18:12 Long-term investment strategies.20:23 Market state and investment returns.23:10 UK FinTech ecosystem evolution.26:44 UK tech market investment challenges.30:20 Philosophy of slowing down. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of Nothing Ventured, host Aarish Shah sits down with Joe Seager-Dupuy, an investment director at True, a London-based consumer and retail investment and innovation advisory firm. The conversation delves into the valuable lessons learned from early career challenges and the innovative spirit of Richard Branson. Joe shares insights on the differences between family offices and venture capital firms, particularly in how they approach investments in startups. They discuss the booming consumer market, highlighting that consumer spending constitutes 60% of GDP in most Western economies, and explore the future of retail, including the potential role of AI in the shopping experience. The episode also touches on the collaborative dynamics between established retailers and startups, as well as Joe's bold prediction that Ipswich will win the premiership within the next decade. Tune in for a thought-provoking discussion that uncovers the intricacies of the venture capital ecosystem.⏱️ Timestamps:02:30 - The Value of Strategy Consulting in Venture Capital05:30 - The Role of Consultants in Startups08:43 - The Importance of Board Dynamics10:30 - Insights from Virgin Management15:24 - Differences Between Family Offices and Traditional VCs22:09 - Crazy Deals and Experiences at Virgin24:14 - Consumer and Retail Landscape Post-COVID25:47 - The Scale of Consumer Spending28:33 - Potential for Big Outcomes in Consumer Ventures30:22 - Consumer Experience Challenges and Opportunities35:06 - AI's Impact on Consumer Experiences39:07 - Consumer Health and the Future of Healthcare46:34 - Education as a Key Sector for Innovation47:46 - The Role of Technology in Reducing Costs in Healthcare and Education Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of Nothing Ventured, Aarish Shah sits down with Piers Linney, known for his role on The Dragon's Den and The Secret Millionaire. Piers shares his journey from delivering newspapers to law, banking, and tech, discussing his 45x exit on his Dragon portfolio and thoughts on AI's impact on SMEs and nation states. They delve into DEI, ambition, and the importance of equality of opportunity. Tune in for insights from a seasoned investor and entrepreneur. Timestamps: 01:03 - Early Business Ventures and Career Path03:01 - Transition from Law to Entrepreneurship05:06 - Lessons from Early Business Ventures08:14 - Learning Customer Service and Sales09:57 - Piers Linney's Family Background11:02 - Diversity, Equity, and Inclusion (DEI)13:02 - Ambition and Access to Opportunity14:10 - Insights on Dragon's Den16:07 - Valuation and Investment Strategy on Dragon's Den18:46 - Success Stories from Dragon's Den19:04 - Traditional vs. Tech Angel Investing21:00 - Types of Businesses on Dragon's Den23:35 - Entertainment vs. Business on Dragon's Den25:03 - Importance of EIS and SEIS in Investments25:56 - Competition Among Dragons26:28 - Piers Linney's Decision to Join Dragon's Den28:09 - Post-Dragon's Den Career29:48 - Founding Implement AI30:36 - Importance of AI for SMEs33:35 - Augmenting Human Labor with AI36:39 - Future of AI in Professional Services38:14 - Types of AI Agents and Their Applications Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of Nothing Ventured, Aarish Shah interviews Cintia Mano, CEO of Core Angels, a global angel investor network. Cintia discusses her journey in investing in 27 startups and leading Core Angels to develop 11 angel funds across various countries. They explore the importance of investing across geographies and verticals, encouraging more female angels to invest in startups, and the significance of taking action in investing without waiting to feel completely prepared. Tune in to learn about building angel funds, expanding opportunities for both investors and startups, and the value of putting your money to work. Timecodes: 02:06 - Formalizing Angel Funds and Best Practices 03:09 - Benefits of Angel Funds for Startups and Investors 04:42 - Typical Journey of an Angel Investor 06:05 - Learning and Collaboration in Angel Investing 07:09 - Experienced Angels and Better Investment Experiences 09:10 - Pooled Capital and Influence on Cap Tables 09:46 - Fund Structure and Investment Commitment 11:55 - Cross-Pollination Amongst Funds 13:37 - Geographic and Thematic Focuses in Investment Strategy 17:01 - Current Operations and Angel Demographics 17:28 - Female Participation in Angel Investing 19:45 - Encouraging More Female Angels 00:22:00 - Challenges Faced by Female Founders 25:39 - Broader Issues of Diversity in Investing 28:28 - Female Founders vs. Femtech 32:35 - Exposure and Industry Understanding 36:26 - Advice for Aspiring Angel Investors 39:09 - Importance of Learning by Doing 42:22 - Portfolio Approach in Angel Investing 45:12 - Contrarian Conviction: Self-Reliance and Happiness Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of Nothing Ventured, Aarish Shah interviews Fred Hoch, co-founder of TechNexus, a Chicago-based venture collaborative. They delve into topics such as building communities, driving the evolution of software as a service, corporate innovation, the role of CFOs in championing innovation, the state of venture capital, and the opportunities ventures present for large corporations. Tune in to gain insights from Fred's 30 years of experience in the tech industry and his success in orchestrating investments for major corporations. 🕒 Time stamps: 02:06 - Evolution of Corporate Venture Capital (CVC)03:38 - Investing Beyond the Check04:49 - Different Models of Corporate Venture06:10 - Scouting for Disruptive Technologies08:12 - Challenges with Large Bets in CVC09:52 - Educating CFOs and Boards on Innovation12:24 - Issues with Traditional Venture Capital Models14:47 - Shift Towards R&D Heavy Projects16:24 - External R&D and Corporate Flexibility18:02 - Equity Compensation vs. Cash19:03 - Employee Mindset and Corporate Innovation20:27 - Realistic Expectations in Venture Capital22:30 - Ventures as Opportunities, Not Threats24:52 - Example: Electrification in Recreational Boating26:41 - Role of TechNexus as an Agitator28:19 - Broad Investment Strategy30:08 - Small Bets and Entrepreneurial Army31:03 - Hunting for Talent and Product Evolution31:35 - Contrarian Convictions in Today's World33:36 - Final Thoughts and Contact Information Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

On this episode of Nothing Ventured, Aarish interviews Amman Ahmed, the founder of Music for Pets, a business providing relaxing music and TV for pets. Amman shares his journey of discovering what type of CEO he wanted to be, from struggling with focus in university to building a successful business reaching 50 million cats and dogs with minimal marketing expenses. The episode covers Amman's unique path to success, the importance of knowing your numbers in business, and why founders should be prepared to make themselves disposable. Tune in to gain insights into the venture capital world and entrepreneurial lessons from Amman's experience with Music for Pets. Timestamps: 02:05 - Overview of Amman's Career and Ventures 02:41 - Transition from Rawmix to Music for Pets 03:04 - The CEO Journey: VC-Funded vs. Bootstrapped 03:57 - Realizing the CEO Role Wasn't a Fit 05:06 - The Challenges of Managing a Team 06:12 - The Reality Check and Team Confrontation 07:06 - Personal Reflection and Decision Making 08:03 - Choosing Between Two Paths of Success 09:17 - Prioritizing Mental and Physical Health 10:00 - The Value of a Lifestyle Business 10:47 - The Downside of Pitching to VCs 12:09 - Simplifying Business Decisions 13:06 - The Birth of Music for Pets 14:33 - Designing Music for Pets and Humans 16:26 - Testing and Iterating the Product 17:09 - Gathering Customer Feedback 17:42 - Achieving Organic Growth 18:00 - Monetization Strategies 20:47 - Revenue Growth and COVID-19 Impact 22:24 - The Unexpected Exit Journey 24:04 - Challenges with Potential Buyers 25:06 - The Random Email That Led to the Sale 26:10 - Understanding the Fit with Create Music Group 27:02 - Building a Business in Manchester 29:00 - Realizing the Business Was a Record Label 30:12 - The Sale Process and Valuation 32:08 - Getting Professional Help for the Sale 33:03 - The Benefits of a Bootstrap Exit 34:16 - Staying with Create Music Group 34:57 - Advice for Founders Considering an Exit 36:13 - Making Yourself Disposable as a Founder 37:16 - Planning for Taxes and Clean Business Practices 39:01 - Balancing Lifestyle and Business Goals 39:59 - Reflecting on the Journey and Points of Failure 41:01 - The Role of Luck in Success 42:10 - The Satisfaction of Building Value 42:59 - Recent Achievements and Recognition 44:01 - Final Thoughts and Contrarian Convictions Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of Nothing Ventured with Aarish Shah, Nicola Sinclair, founder of Twin Track Ventures, discusses the evolution of military technology from sharing one laptop among eight people to the current state of defense services. The conversation delves into topics such as utilizing drones with guns, printing aircraft parts for quicker repairs, leveraging interoperability, the role of science in defense, AUKUS impact on emerging technologies, and the future of military advancements. Tune in to gain insights into the intersection of technology, defense, and innovation. Timestamps: 00:20 Military technological evolution over time.03:24 Evolution of military communication.08:00 Collaboration in defense technology.11:37 International cooperation in defense.14:17 Dual-use technologies and applications.17:27 International defense partnerships.21:53 Military technology and innovation.23:38 Commercialization of defense technologies.27:07 Defense innovation and technology.30:11 Technology applications in military strategy.33:23 Ethical concerns about eVTOL.37:26 Military innovation and risk-taking.40:18 Impact of ITAR exemptions.44:50 Peak drone technology.45:30 Peak drone excitement. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.