December 10, 2025

200 Rejections to a Billion-Dollar Exit: Larry Cheng on Resilience and Growth

1 hour 7 minutes

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In this episode of Finding Peak, Ryan Hanley sits down with Larry Cheng, founder of Volition Capital, for a masterclass in resilience, fundraising, and brand building.

Larry shares the unfiltered story of how he overcame 200 rejections to raise his first fund, the philosophy that drives his success, and why he believes a founder's personal brand is more critical than ever.

This is a no-BS conversation packed with actionable insights for entrepreneurs, investors, and anyone looking to level up their game.

Connect with Larry Cheng

Volition Capital: https://www.volitioncapital.com

Larry Cheng on X: https://twitter.com/larryvc

Larry Cheng on LinkedIn: https://www.linkedin.com/in/larrycheng/

Key Topics Discussed:

The Power of Resilience: Larry shares the story of facing 200 rejections before securing the first investment for Volition Capital and the mindset that kept him going.

Fundraising Philosophy: Learn Larry's core principle: "Don't take no's personally. Don't take yeses for granted."

Venture Capital vs. Growth Equity: A clear breakdown of the different stages of private equity and what it means for founders.

The Chewy Story: The inside story of how Volition Capital's investment in Chewy became a multi-billion dollar success.

The Founder's Brand: Why Larry believes a founder's personal brand and community engagement are non-negotiable in today's market.

Authenticity in Leadership: How to be an external and authentic leader, even if you're an introvert.

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By Ryan Hanley

3.2

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