Eric and I had a great discussion about Venture Capital in Iowa and the greater Midwest. From discussing Eric's journey as an entrepreneur to an investor as well as digging into his $22M fund ISA Ventures, Eric drops a ton of knowledge and advice for listeners!
For more information about ISA Ventures, you can visit their website here: https://www.isaventures.com/
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Here are some show notes:
Entrepreneurship Journey
01:25 Eric's journey to entrepreneurship
05:50 Founding Geonetric
07:50 Getting into investing
11:00 Why it's important to have an exit strategy as a founder
ISA Ventures
12:50 What is Venture Capital?
15:00 Who are the LPs in ISA Ventures
18:25 Pros and Cons of sticking to only Iowa investments
20:30 What do you look for before investing in a company and team?
22:05 Analyzing market sizes of potential investments
24:13 ISA Ventures $22M fund model
29:26 Balancing risk and diversification on investments
32:30 What happens when a company has a liquidation event?
State of Iowa VC
35:15 Upcoming industries to look at in Iowa and the Midwest
37:25 Iowa Innovation
42:07 Do you need to be an expert in a specific industry?
46:45 Local groups helping bridge the gap between startups and VC
50:15 How does Iowa position itself for more outside VC investment?
Wrap Up Questions
52:15 How can students learn more about VC?
54:40 Books and Podcast that Eric recommends:
Built to Sell Radio Podcast
20VC by Harry Stebbings
Scaling People by Claire Johnson
Venture Deals by Brad Feld and Jason Mendelson