Sound Investments - The Pacific Northwest VC & Startup Podcast with Ed Barker

In this episode of Sound Investments, host Ed Barker discusses into the Pacific Northwest venture capital scene with Andy Liu, co-founding partner of Unlock Venture Partners. Andy shares his journey from being an entrepreneur to an active early-stage investor, with over 90 investments under his belt. The conversation covers his experiences in launching startups, the investment focus of Unlock VC, tech trends, the challenges and opportunities in the Seattle and LA markets, and the characteristics of successful founders. Liu also talks about the importance of mission-driven entrepreneurs, the role of AI and data in venture capital, and his approach to hands-on investing. Additionally, Liu highlights some of the standout companies in Unlock VC's portfolio and shares his perspectives on future tech opportunities and trends.

00:00 Introduction to Sound Investments

00:21 Meet Andy Liu

03:20 Building Unlock Venture Partners

05:04 Investment Strategies and Focus Areas

16:55 Challenges and Opportunities in Seattle and LA

20:33 Comparing Investment Landscapes: Pacific Northwest vs. LA

21:46 The AI Revolution

22:31 Evaluating AI Startups

28:17 Success Stories

31:24 The Importance of Founder Focus in VC

34:10 Balancing Innovation and Practicality 

38:25 Leveraging Data and Technology in VC

40:39 Close

About Your Host

Ed Barker has enjoyed a weird and varied career. Ed is a Brit now resident in Seattle and has started three startups, enjoyed a long career in corporate strategy, and most recently was a VC. He's now building a podcast production company. Sound Investments is a small attempt to shine some light on the fantastic work being done in the Pac NW entrepreneurial community.

Andy Liu, Co-founding Partner of Unlock Venture Partners

Andy Liu is a co-founding partner of Unlock Venture Partners. He is a serial entrepreneur, most recently as a co-founder and CEO of BuddyTV. Prior to BuddyTV, Andy was the co-founder and CEO of NetConversions which was acquired by aQuantive, where he then served as VP & GM, Atlas NetConversions. Andy had previously worked in a variety of roles at Active Voice, Safeware, Boeing, and AT&T. He also serves on the non-profit board of Future Hope, which provides technology and leadership education to the impoverished and marginalized.

Andy has been a very active early stage investor in technology companies, mostly in the Pacific Northwest, with over 90 investments in companies such as Cheezburger Network, SoFi, Redfin, Buuteeq, Minted, Remitly, Amperity, Rover, Skilljar, and Sparq. He has been named 40 under 40 by PSBJ in 2003, Seattle Angel of the Year in 2010, and Innovator of the Year by Asian NW Weekly in 2016. 

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In this episode of Sound Investments, host Ed Parker chats with Martin Tobias, Managing Partner at Incisive VC. Tobias, a seasoned angel investor and startup founder, discusses his unique investing philosophy focused on B2B software that reduces friction at scale. Tobias recounts his journey from his early days at Microsoft to running his own VC firm and creating a successful angel syndicate. Key topics include the importance of founder-market fit, innovative distribution strategies, and identifying previously intractable problems now solvable through technology, particularly AI. Tobias also shares insights into several high-growth investments, the impact of AI on venture capital, and how the market is evolving post-2022 downturn.

00:00 Introduction to Sound Investments

01:02 Meet Martin Tobias

03:58 The Birth of Incisive VC

06:30 Investing Philosophy and Principles

13:45 The Power of AI in Solving Old Problems

21:32 Investment Process

24:58 Building Moats

29:50 Data-Driven VC Market

34:53 Notable Investments and Success Stories

39:26 Future Outlook

42:21 Staying Informed

About Your Host

Ed Barker has enjoyed a weird and varied career. Ed is a Brit now resident in Seattle and has started three startups, enjoyed a long career in corporate strategy, and most recently was a VC. He's now building a podcast production company. Sound Investments is a small attempt to shine some light on the fantastic work being done in the Pac NW entrepreneurial community.

Martin Tobias, Incisive Ventures

Martin is the Managing Partner and Founder of Incisive, an early-stage venture capital firm focused on investing in the first institutional round of technology companies that reduce friction at scale. Previously Martin was a Venture Partner at Ignition Partners and an early investor in Google, Docusign, OpenSea, and over a dozen Unicorns. He's also a father to three daughters, a cyclist, surfer, poker player, life hacker and motorcycle tinkerer.

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In this episode of Sound Investments, host Ed Barker interviews Peter Muller, founding partner of Breakwater Ventures, to explore his unique journey from Merrill Lynch to the launch of his venture capital firm in Seattle. They discuss Peter's career transitions, the Seattle startup ecosystem, and dive into key areas of interest like AI, fintech, and marketplaces. The conversation covers the challenges and opportunities in Seattle's venture capital scene, the firm's investment philosophy, and promising sectors. Peter also shares insights into raising capital in a tough environment and the necessary characteristics of successful founders.

00:00 Introduction

01:05 Meet Peter Mueller

05:59 Investment Philosophy and Strategy

07:23 Challenges in the Seattle Angel Market

11:57 AI, Fintech and Marketplaces

26:45 Fundraising Environment

38:37 Closing Thoughts

About Your Host

Ed Barker has enjoyed a weird and varied career. Ed is a Brit now resident in Seattle and has started three startups, enjoyed a long career in corporate strategy, and most recently was a VC. He's now building a podcast production company. Sound Investments is a small attempt to shine some light on the fantastic work being done in the Pac NW entrepreneurial community.

Peter Mueller, General Partner, Breakwater Ventures

Peter is a Co-Founder & serves as a General Partner at Breakwater Ventures. Previously, he served as a Managing Partner at SeaChange Fund. He serves as a Board Member at KredosAi. He serves as a Board Member at Vouched, KredosAI, and CreatorCo. He serves as a Board Observer at OSYTE. Previously, he worked in equity research at Bank of America Merrill Lynch covering TMT markets. He then moved on to become an early employee at Carta (formerly known as eShares) building their business valuations product. Before SeaChange, he worked as a Senior Analyst at Concert Golf Partners, a private equity real estate fund, and Trek Partners, a middle-market leveraged buyout firm.

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In this episode of Sound Investments, host Ed Barker interviews Brendan Wales, founding partner of Fuse, a venture capital firm in Seattle. Brendan shares his pathway from a tech-obsessed teenager to co-founding Fuse, including his early career and nine years at Headline. He details the founding of Fuse alongside partners Kellan and Cameron, highlighting their focus on early-stage companies in the Pacific Northwest, particularly in enterprise software, cloud, and space tech. The discussion covers key investments, differentiating in the VC landscape, and insights into the burgeoning space tech sector. Brendan also dives into the challenges and strategies of fundraising, the value of an extensive LP network, and the future of Fuse's investments.

00:00 Introduction to Sound Investments

00:16 Founding Fuse

01:53 Brendan's Career Journey

05:58 Building Fuse

09:21 Differentiating in the VC Landscape

11:45 Seattle vs. Bay Area

15:22 The Fuse Space Program

24:06 Highlighting Successful Investments

33:40 AI's Impact on Business

41:24 Conclusion

About Your Host

Ed Barker has enjoyed a weird and varied career. Ed is a Brit now resident in Seattle and has started three startups, enjoyed a long career in corporate strategy, and most recently was a VC. He's now building a podcast production company. Sound Investments is a small attempt to shine some light on the fantastic work being done in the Pac NW entrepreneurial community.

Brendan Wales, Founding Partner

Brendan is a founding General Partner of FUSE where he focuses on early-stage investments in vertical SaaS, B2B marketplaces, open-source software, and developer tools. At FUSE, Brendan has led the firm's investments in bttn., VisualPing.io, and Dendron. He serves as a Board Member at Oporto. He served as a Board Member at Layer. Before FUSE, Brendan spent nine years at e.ventures, where he partnered with companies such as Shopmonkey, Fetch Rewards, Shipt, Grin, BitWarden, Secured, Carewell, plus many others. Before joining e.ventures, Brendan was an early employee at ZOZI, a venture-backed marketplace in the tourism and local experiences market. His first role out of college was working in the Atlanta, GA office of Sun Life Financial, a $29B publicly traded financial services business. Brendan holds a BS degree in Finance from the University of Georgia. He served as a Board Member at Secured

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Minda Brusse, First Row Partners on Nurturing Pre-Seed Startups

In this episode of 'Sound Investments,' we sit down with Minda Bruce, founding partner at First Row Partners. With over 25 years in the startup ecosystem, Minda shares her journey from early startup roles to teaching investment and entrepreneurship at the University of Washington. She discusses First Row's unique investment strategies and principles, emphasizing support for pre-seed companies across the U.S. Minda elaborates on their role as investors in building strong founder relationships and the value of tech in media, commerce, and ed-tech. The episode also touches on their focus areas for 2025 and their commitment to education through workshops and university courses.

00:00 Introduction

01:16 Minda's Journey into Venture Capital

01:42 Founding First Row Partners

06:57 Investment Strategy and Focus

09:07 Building Relationships with Founders

18:03 Engaging with the Seattle Ecosystem

26:34 Current Market Dynamics and Tech Interests

37:41 Supporting Small Brands and Human Connection

44:08 Teaching and Mentorship at UW

47:20 Final Thoughts

About Your Host

Ed Barker has enjoyed a weird and varied career. Ed is a Brit now resident in Seattle and has started three startups, enjoyed a long career in corporate strategy, and most recently was a VC. He's now building a podcast production company. Sound Investments is a small attempt to shine some light on the fantastic work being done in the Pac NW entrepreneurial community.

Minda Brusse, Founding Partner

Minda Brusse has been in the startup ecosystem for over 25 years. In her early career, she was a lynchpin employee at a $39M venture-backed company acquired by Accenture. She continued to find her way into co-founder and leadership roles during early applications of new technology in SaaS software distribution, user generated content, consumer payments, and blockchain. Minda found that a key lever in enabling innovation came from the capital that fuels it; and she dug deep -- honing her skills as an investor and fund manager. She now contributes her time and talent at the University of Washington teaching hands-on investing and entrepreneurship courses in the Foster School MBA program.  During the pandemic, she co-founded The 1K Project to help families in need, raising $3.3M for 1,100 families to receive cash grants. She is a sustaining member of Seattle organizations Seattle Art Museum Supporters (SAMS) and the Junior League of Seattle. 

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Sound Investments: Global Venture Capital and Emerging Markets with Will Poole, Managing Partner at Capria VC

In this episode of Sound Investments, Ed Barker speaks with Will Poole, co-founder and managing partner at Capria VC, about his journey from a tech executive at Microsoft to a global venture capitalist. Focusing on emerging markets in Latin America, Africa, and Asia, Will discusses the unique opportunities and challenges of investing in these regions. The conversation explores Capria's network-driven approach, the impact of generative AI on venture capital, and the promising sectors like healthcare, education, and fintech. Will also shares insights into managing risk and the importance of founder selection.

00:00 Introduction

00:21 Meet Will Poole: From Tech Executive to Global Investor

06:07 The Genesis of Capria VC

07:52 Capria's Investment Philosophy and Strategy

10:41 Managing Risks and Selecting Founders

17:50 Generative AI in Emerging Markets

21:51 Impact of DeepSeek on AI Costs

25:41 AI's Role in Various Sectors

28:27 Regulatory Challenges and Opportunities

32:21 FinTech and AI

34:47 Exciting Startups and Success Stories

38:11 Focus Areas and Future Plans

41:04 Conclusion

About Your Host

Ed Barker has enjoyed a weird and varied career. Ed is a Brit now resident in Seattle and has started three startups, enjoyed a long career in corporate strategy, and most recently was a VC. He's now building a podcast production company. Sound Investments is a small attempt to shine some light on the fantastic work being done in the Pac NW entrepreneurial community.

Will Poole, Managing Partner at Capria VC

He is the Co-Founder and Managing Partner of Capria Ventures where he also serves as the firm’s Chief AI Evangelist. He has been directly investing in startups since 1997. His first institutional venture fund was raised for Capria’s predecessor Unitus Ventures, in 2012. He and his partners together manage over $180M AUM in companies spanning the Global South, from São Paulo to Nairobi to Bangalore to Jakarta. In his big tech career, Will was a Corporate Vice President at Microsoft, leading several business lines, including the $13 billion Windows client business. After that he led the company’s efforts to tailor products to the needs of mass-market customers in emerging markets. Will serves as a strategic advisor to African health systems transformer Village Reach, and as a board member of blended-finance leader Convergence Finance. He is also a Managing Director of The W Fund, a Seattle-based tech and life-sciences fund affiliated with the University of Washington.

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Sound Investments: Exploring Seattle's VC Scene with Ken Horenstein

In this episode of Sound Investments, host Ed Barker delves into the Pacific Northwest venture capital ecosystem with Ken Horenstein, Founder and Managing Partner at Pack Ventures. Ken shares his personal journey in venture capital, from his educational roots at the University of Washington to his role in supporting Seattle-based startups. The discussion covers the founding and principles behind Pack Ventures, the fund's focus on UW-affiliated ventures, and the broader Seattle startup scene. Key topics include the diversification of investment sectors, the evolution of the venture space in Seattle, and the future potential driven by AI, biotechnology, and robotics. Ken also emphasizes the importance of building a community and sharing insights to foster innovation. The episode offers perspectives for anyone interested in venture capital, startups, and the dynamic technologies shaping the future.

00:00 Introduction to Sound Investments

00:13 Meet Ken Horenstein: Founder at Pack Ventures

01:35 Ken's Entrepreneurial Journey

04:23 The Birth of Pack Ventures

05:54 Fund 1: Proof of Concept

10:00 Fund 2: Doubling Down on UW Ecosystem

12:45 Investment Strategy and Focus Areas

20:08 The Role of LPs and Fund Structure

25:31 Seattle's Unique Venture Ecosystem

26:58 AI and Local Capital Dynamics

29:47 Challenges and Opportunities in Life Sciences

32:05 Future of AI and Data in Healthcare

39:08 Exciting Projects and Investments

41:02 Staying Informed and Connected

44:50 Final Thoughts

About Your Host

Ed Barker has enjoyed a weird and varied career. Ed is a Brit now resident in Seattle and has started three startups, enjoyed a long career in corporate strategy, and most recently was a VC. He's now building a podcast production company. Sound Investments is a small attempt to shine some light on the fantastic work being done in the Pac NW entrepreneurial community.

Ken Horenstein

A founder at heart, Ken has supported dozens of entrepreneurs in their fundraising over the last 5+ years. An alum of M12 - Microsoft's Venture Fund, Ken cofounded the Venture Out community and accelerator. He has also angel invested in multiple companies in the Seattle area. Ken is a Double Dawg with both a BA and MBA from the University of Washington.

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Empowering Female Founders: A Conversation with Jessica Kamada of Swizzle Ventures

In this episode of Sound Investments, host Ed Barker interviews Jessica Kamada, the managing partner of Swizzle Ventures, a venture capital fund based in Bellevue that focuses on empowering female founders addressing women's challenges at pivotal life stages. Jessica shares her journey from a competitive figure skater to a growth marketer and eventually to founding Swizzle Ventures. She discusses the inspiration behind the fund, its vision, and the sectors they are investing in, including women's healthcare and financial health. Jessica also delves into her personal experiences, the fund's investment strategy, and the broader mission to shift the investment dynamics towards female founders. The conversation highlights the importance of addressing systemic issues and the potential for long-term impact in empowering women through targeted investment.

00:00 Introduction to Sound Investments

00:13 Meet Jessica Kamada of Swizzle Ventures

00:39 Jessica's Journey from Figure Skater to VC

01:29 The Origin and Mission of Swizzle Ventures

02:12 Early Career and Growth Marketing

05:52 Transition to Venture Capital

06:53 Personal Motivations and Challenges

08:46 Investment Focus and Strategy

12:30 Building a Network and Community

31:25 Future Vision and Inspiration

37:39 Farewell

About Your Host

Ed Barker has enjoyed a weird and varied career. Ed is a Brit now resident in Seattle and has started three startups, enjoyed a long career in corporate strategy, and most recently was a VC. He's now building a podcast production company. Sound Investments is a small attempt to shine some light on the fantastic work being done in the Pac NW entrepreneurial community.

Jessica Kamada, Managing Partner, Swizzle Ventures

Jessica spent eight years building Bamboo, a growth marketing agency where she was vice president of growth marketing, before becoming COO and joining the board of directors. During her tenure, she led growth programs for consumer tech businesses such as Headspace, Peloton, the New York Times and Rover. Previously, she worked at RedDrop, which provides menstrual education to tweens, as a growth adviser.

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Inside Venture Mechanics: Reinventing Startup Acceleration with Ron Weiner

In this episode of Sound Investments, host Ed Barker interviews Ron Weiner, CEO and chairman of the Bellevue-based startup launchpad, Venture Mechanics. They discuss Ron's extensive experience as a tech startup CEO and investor, and the innovative business model of Venture Mechanics, which aims to provide a unique, asynchronous approach to mentoring and supporting startups. They delve into the intricacies of raising venture capital, the challenges of building a successful team, and the importance of early customer discovery. Ron also shares insights into the specificity of the Seattle startup ecosystem and the emergent focus on diverse founder groups and sectors like consumer CPG and hardware. With a focus on meticulous preparation and a deep understanding of exit strategies, Venture Mechanics positions itself as a unique player in the startup incubation landscape.

00:00 Introduction to Sound Investments Podcast

00:13 Meet Ron Weiner: A Journey in Venture Capital

00:37 The Venture Mechanics Business Model

01:39 Ron Weiner's Personal Journey

02:30 Challenges and Lessons in Fundraising

03:37 The Importance of Customer Discovery

08:02 The Role of Mentors in Startups

18:00 The Mentor Conclave Process

23:33 Economic Model of Venture Mechanics

25:39 The Seattle Venture Capital Scene

29:37 Diversity in Founders

32:20 Mentorship and Micro VCs

34:55 Diversity in Seattle's Investment Scene

37:47 Consumer Packaged Goods

41:30 Military and Dual-Use Technologies

43:29 Trends in AI and Startup Launches

50:48 Success Stories and Inspirational Founders

54:30 Staying Informed and Continuous Learning

About Your Host

Ed Barker has enjoyed a weird and varied career. Ed is a Brit now resident in Seattle and has started three startups, enjoyed a long career in corporate strategy, and most recently was a VC. He's now building a podcast production company. Sound Investments is a small attempt to shine some light on the fantastic work being done in the Pac NW entrepreneurial community.

Ron Wiener, CEO, Venture Mechanics

Ron brings four decades of experience as a tech startup CEO and 25 years as an investor. This is his fourth incubator operation during those 25 years. Venture Mechanics is a startup incubator, event space and conference center, and coworking facility for rapidly-scaling startups. It is Seattle's largest hub not just for the hundreds of events for startup founders and early stage investors held there, but also domiciles numerous diversity "founder & funder groups" and the venture studios of a number of emerging VC fund managers.

For the prior decade Ron was CEO of ThermoGenesis Group. which was best known for its iMovR brand of standing desks, treadmill desks and other office ergonomics products. Prior to Thermogenesis, Ron served as Chairman and CEO of EquaShip. Previously he served as CEO and Postmaster General of Earth Class Mail Corporation. Prior to that Ron was founder and CEO of four other investor-backed high-technology companies; two in aviation, two in dot-com: Azure Technology, Distribution Sciences Corp / JetStream, PrintBid, and SnapNames.

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Empowering Pacific Northwest Startups: Insights from Voyager Capital's James Newell

In this episode of Sound Investments, host Ed Barker interviews James Newell, Managing Director at Voyager Capital. They discuss the unique investment landscape of the Pacific Northwest, Voyager Capital's focus on early-stage local companies, and the strengths and challenges of the Seattle startup ecosystem. James shares his journey from M&A banking to venture capital, his thoughts on the role of major tech companies like Amazon and Microsoft in shaping the local talent pool, and how Voyager supports founders in bringing their products to market. They also delve into the impact of AI on B2B solutions and the current state of the venture capital industry amid economic shifts. Notable insights include the importance of local investment and collaboration, and the exciting potential of portfolio companies like Carbon Robotics in the agtech sector.

00:00 Introduction to Sound Investments

01:17 Meet James Newell: Managing Director at Voyager Capital

01:40 James Newell's Journey into Venture Capital

04:05 Voyager Capital: Focus and Evolution

08:21 Seattle's Unique Startup Ecosystem

11:20 Supporting Founders: Challenges and Strategies

19:21 The Role of Universities in the Startup Ecosystem

21:13 Engagement with UW and Business School

22:33 Challenges and Tensions in University Spinouts

24:38 AI Hype and Practical Applications

29:35 VC Market Outlook and Challenges

33:35 Spotlight on Carbon Robotics

35:32 Sources of Inspiration and Learning

37:14 Conclusion and Farewell

About Your Host

Ed Barker has enjoyed a weird and varied career. Ed is a Brit now resident in Seattle and has started three startups, enjoyed a long career in corporate strategy, and most recently was a VC. He's now building a podcast production company. Sound Investments is a small attempt to shine some light on the fantastic work being done in the Pac NW entrepreneurial community.

James Newell, Managing Partner, Voyager Capital

James has been working with high-growth technology companies as an adviser and investor since 2005 and focuses on early-stage and seed investments in the Pacific Northwest. He currently serves on the boards of Voyager portfolio companies Sofy. and WellSaid Labs. He previously served as a board member or observer at Casper, DoubleVerify, General Assembly, Sauce Labs, and Zerto, among others.

Prior to joining Voyager, James worked for Institutional Venture Partners, a later-stage VC based in Menlo Park. While with IVP, James worked on investments in AlienVault, Carbonite, Casper, Checkr, DoubleVerify, General Assembly, Kayak, LegalZoom, Prosper, Sauce Labs, SoFi and Zerto. 

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