In today's episode, we're joined by Daniel Fetner, a General Partner at Alpaca.  Before joining Alpaca, Daniel founded Soil Connect, a SaaS-enabled marketplace to manage and acquire soil. Daniel joined Alpaca in 2018 as Chief of Staff and later moved into an investor role. At Alpaca, he primarily focuses on real estate and construction tech. Daniel dives into how he recruited for VC, why specialization matters, PropTech as a standalone category, and the current state of the market.

Episode Chapters:

1. Founding Soil Connect - 1:45
2. Founder -> Funder - 4:36
3. Alpaca's 4 Founder Strategy - 10:47
4. Category Specialization as an Investor - 13:40
5. PropTech Evolution - 16:12
6. Hardware meets Software - 21:40 
7. PropCo/OpCo Structure - 23:15
8. Real Estate Tech Enablement - 26:35
9. Multiples Leveling Off - 28:00
10. Ending Questions - 29:43

As always, feel free to contact us at [email protected]. We would love to hear ideas for content, guests, and overall feedback.