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

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

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

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

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

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

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

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

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

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