159. The Pioneer of Post-Seed (Paul Martino)
The Full Ratchet (TFR): Venture Capital and Startup Investing Demystified · Nick Moran
March 13, 201847m 6s
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Show Notes
Paul Martino of Bullpen Capital joins Nick to discuss the emergence of the Post-Seed round. In this episode, we cover:
- Why Paul passed on joining Mike Maples at Floodgate in order to start Bullpen
- The product/market fit algorithm he developed for Mike
- If the stages of funding are moving out or if there are just more of them
- How Bullpen is differentiated
- The metrics they require to engage with startups
- How his quant background has helped make this subjective discipline more objective
- The hardest aspect of developing new, young VCs
- We discuss lack of innovation in the asset class
- Why herd mentality is pervasive
- Other contrarian principles he and Bullpen embrace
- If it's harder to get A or B round funding for the non-traditional founders or industries that he invests in
- How Private Equity is impacting exits the differences in sourcing at post-seed and we wrap up w/ Paul's thoughts on how branding and investment focus helps drive opportunity for Bullpen
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