What does it really take to scale a B2B software company from early traction to a category leader?

In this episode, Maitlan Cramer, Managing Director at Bow River Capital, breaks down the "Capital Plus" playbook used to manage roughly $4.7 billion in assets across the firm.

Maitlan moves beyond the typical VC advice, explaining why growth equity is about "rolling up your sleeves" to fix broken processes rather than just writing checks. He shares why he will always choose a great market over a great product, how to distinguish between vanity growth and sustainable revenue, and why founders need to stop fearing the "growth equity" label.

⭐ Sponsored by Podcast10x - Podcasting agency for VCs - https://podcast10x.com

WHAT YOU'LL LEARN:

📒The Growth Equity Playbook: How investing at the growth stage differs from early-stage VC.

📉 Market over Product: Why you can fix a bad company, but you can’t fix a bad industry.

🚩 Red Flags: How to spot "unhealthy growth" and vanity metrics before they kill your business.

🤝 Sales & Talent: Why Maitlan hires for "grit" over resumes, and how to rebuild a C-Suite.

🤖 The AI Wave: How artificial intelligence is reshaping retention, moats, and software pricing.

TIMESTAMPS

(00:00) - Let's start

(00:41) - Introduction to Maitlan Cramer and Bow River Capital

(02:36) - Maitlan's journey from Grant Ventures to managing $4.7B fund

(04:18) - Stage of investment and growth equity vs buyout approach

(05:11) - Majority ownership and buyout strategy explained

(06:48) - Misconceptions founders have about growth equity capital

(08:07) - Board involvement across different software verticals

(08:24) - Case study: Altvia and building go-to-market motion

(12:45) - Case study: HR Soft and restructuring the C-suite

(15:43) - Impact of AI on competitive advantages and moats in software

(16:33) - Assessing competitive advantage through customer calls

(20:15) - AI strategy and data flywheel effects

(23:29) - Great market vs great product investment philosophy

(24:45) - Key operational metrics beyond revenue growth

(27:38) - Bootstrap vs venture-backed investment opportunities

(30:41) - Trends in customer acquisition costs and retention metrics

(33:32) - Identifying and hiring great sellers

(38:19) - Biggest learning: trusting the process

(41:12) - Rapid fire round begins

(41:24) - Sectors and regions of investment

(43:03) - Typical stage and revenue range for investments

(44:04) - Ownership targets in portfolio companies

(45:07) - Typical check size and capital deployment

(46:15) - How founders can get in touch

(46:45) - Where to follow Maitlan and Bow River Capital

(47:05) - Closing remarks

ABOUT THE GUEST

Maitlan Cramer is a Managing Director at Bow River Capital, a Denver-based alternative asset manager. The firm manages approximately $4.7 billion in assets and operates across seven private fund platforms. Maitlan leads investments for the Software Growth Equity team, focusing on majority-control recapitalizations and buyouts of mission-critical B2B software companies.

CONNECT WITH US

Website: https://VC10X.com

Bow River Capital: https://www.bowrivercapital.com/

Maitlan Cramer on LinkedIn: https://www.linkedin.com/in/maitlan-cramer-b797a744

#GrowthEquity #SaaS #PrivateEquity #Investing #Startups #BowRiverCapital #BusinessPodcast

India's IPO market has completely lost its mind. Groww is worth more than the Bombay Stock Exchange (as of 18th Nov '25 the date of recording).

PhysicsWallah is losing ₹243 crore but got a 33% listing pop. And companies are literally moving their headquarters from the US to India just to IPO here. What's going on?

In this deep dive, we expose the wild world of Indian startup IPOs. You'll discover how companies magically become profitable right before going public, why retail investors are gambling billions on unprofitable startups, and the shocking "reverse flip" trend where unicorns are abandoning Silicon Valley for Mumbai's markets.

This is the untold story of the biggest IPO boom and potential bubble in the world right now.

Note- The video was recorded on 18th Nov '25, all numbers and stock prices are true to that date.

Disclaimer: This video is for educational and informational purposes only and is not financial advice. Please do your own research or consult a registered financial advisor before making investment decisions. The creator is not responsible for any profits or losses resulting from investment decisions.

KEY TAKEAWAYS:

✅ How Groww became worth more than the 150-year-old Bombay Stock Exchange

✅ Why PhysicsWallah got a 33% listing gain despite losing ₹243 crore

✅ The accounting tricks companies use to become "profitable" before IPOs

✅ Why 70+ startups are moving from US/Singapore to India (reverse flipping)

✅ India vs USA IPO markets: lower requirements, higher valuations, unlimited appetite

FEATURED COMPANIES:

Groww: ₹1.1 lakh crore valuation (more than BSE itself on 18th Nov '25)

Lenskart: Years of losses, then ₹297 crore profit in FY25—just before IPO

PhysicsWallah: Loss-making but 33% listing gains

Pine Labs: 2.5x oversubscribed despite unclear profitability

Zomato, Paytm, Nykaa, Ola Electric: The cautionary tales

TIMESTAMPS:

(0:00) Introduction

(0:33) Groww IPO

(1:54) Lenskart IPO

(2:36) Pine Labs IPO

(3:15) Physicswallah

(4:51) Why & how do companies turn profitable just before the IPO?

(6:51) Class of '21 - Zomato, Paytm, Nykaa

(9:45) India vs USA IPO Markets

(10:46) Reverse Flipping

(12:04) Why are companies reverse flipping to India?

(13:11) Is indian IPO market visionary or plain crazy?

(13:58) Closing

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VC10X breaks down the most important stories in tech, startups, and investing every week. If you want actionable insights to help you build or invest in the next great company, subscribe now.

LET'S CONNECT

Website: https://VC10X.com

X / Twitter: https://x.com/choubeysahab

LinkedIn: https://linkedin.com/in/choubeysahab

COMMENT BELOW

Is India's IPO market the future or a bubble waiting to pop? Have you invested in any of these companies? Let us know in the comments.

#IndiaIPO #Groww #PhysicsWallah #Lenskart #StartupIndia #VentureCapital #IPOMarket #RetailInvesting #ZomatoIPO #PaytmIPO

In this episode, we sit down with a true legend of the tech and investing world, Fabrice Grinda, Founding Partner at FJ Labs. With a track record that includes founding the global classifieds giant OLX (used by 350M+ people), achieving over 350 exits as an investor, and being named the #1 Angel Investor by Forbes, Fabrice shares a masterclass on what it takes to win in the world of startups.

We dive deep into his incredible journey, from leaving McKinsey at 23 to chasing his entrepreneurial dream, to the bold "spaghetti on the wall" strategy of launching OLX in 100+ countries simultaneously.

Fabrice gets candid about nearly going bankrupt, borrowing money on his credit cards to make payroll, and the resilience it took to build a company to $200 million in revenue.

You'll also hear the untold story of how he tried to buy the "Alibaba.com" domain from a then-unknown Jack Ma, and the pattern recognition that allowed him to become an early investor in future giants like Alibaba, Airbnb, and Flexport.

If you're an entrepreneur, investor, or just fascinated by what it takes to build and identify world-changing companies, this conversation is packed with priceless insights.

⭐ Sponsored by Podcast10x - Podcasting agency for VCs - https://podcast10x.com

VC10X website - https://vc10x.com

FJ Labs website - https://fjlabs.com/

Fabrice Grinda on LinkedIn - https://www.linkedin.com/in/fabricegrinda/

🎙️ Hosted by Prashant Choubey

Follow Prashant on LinkedIn - https://www.linkedin.com/in/choubeysahab

We talk about -

- Why Fabrice left a prestigious job at McKinsey to become a founder.

- The high-risk strategy that made OLX a global phenomenon.

- Lessons from nearly losing everything and bouncing back stronger.

- The key traits that separate successful companies from those that fail.

- His contrarian take on the current AI bubble and where the real opportunities lie.

- The future of marketplaces and the next trillion-dollar opportunities.

Timestamps:

(00:00) - Introduction

(03:02) - Journey from McKinsey to becoming an entrepreneur

(04:48) - OLX's global expansion strategy and market selection

(07:33) - Fundraising approach and VC backing for OLX

(09:44) - Building Zingy to $200M revenue after near bankruptcy

(11:16) - Bootstrapping Zingy with small incremental raises

(12:32) - Transition from operator to investor

(14:16) - Being named #1 angel investor by Forbes

(16:11) - Framework for evaluating marketplace opportunities

(17:32) - Pattern recognition in successful vs failed companies

(19:09) - Current marketplace market conditions and valuations

(22:30) - How AI is changing purchasing behavior in marketplaces

(24:42) - Why B2B marketplaces are compelling now

(26:18) - AI's impact on marketplace defensibility and network effects

(27:41) - Early investments in Alibaba, Airbnb, and Flexport stories

(29:58) - Cross-border marketplaces and live commerce trends

(32:27) - International arbitrage and business model innovation

(34:10) - Solving the chicken and egg problem in marketplaces

(36:00) - Take rates in marketplaces from early to mature stages

(39:12) - Marketplace monopolies and pricing power

(41:06) - Zomato's valuation and public market implications

(45:45) - Biggest hurdles for marketplace founders today

(46:35) - Contrarian belief: Investing in marketplaces over AI

(48:08) - Rapid fire: Investment sectors, stages, and check sizes

(49:26) - How to reach Fabrice and closing remarks

For sponsorship or guest appearance requests, write to [email protected]

Subscribe to VC10X on YouTube, Spotify, and Apple Podcasts.

#FabriceGrinda #AngelInvesting #Marketplaces #OLX #StartupStory #VentureCapital #Alibaba #Entrepreneurship #TechInvestor #FJlabs

Michael Burry—the legendary investor who predicted the 2008 housing crash—has just placed a massive bet against the AI boom. His latest 13F filing reveals he's shorting Nvidia and Palantir, the two darlings of the AI revolution. Is this the beginning of the AI bubble bursting, or is Burry making the biggest mistake of his career?

In this deep dive, we break down Burry's exact positions, the warning signs he's seeing that others are ignoring, and what this means for the future of AI investing. We also examine the counter-argument: why betting against this market could be incredibly dangerous.

TIMESTAMPS

(00:00) - Michael Burry's billion-dollar bet against AI

(00:24) - How we know about Burry's bet: 13F filings revealed

(00:44) - Burry's targeted bets: NVIDIA and Palantir put options

(00:55) - Why shorting NVIDIA is significant

(01:15) - Why shorting Palantir matters

(01:36) - The two-pronged attack strategy

(02:05) - Warning sign #1: Smart money is cashing out (SoftBank exits NVIDIA)

(02:31) - Warning sign #2: Astronomical valuations

(03:11) - Warning sign #3: Spending doesn't match profits

(03:43) - Why Burry could be wrong: This isn't the dot-com bubble

(04:05) - AI as a true platform shift

(04:22) - Burry's past mistakes: The Tesla bet

(04:38) - What this means for founders & investors

(05:18) - Is this Big Short 2.0?

(05:48) - Final thoughts and call to action

KEY TAKEAWAYS

✅ Why Michael Burry is shorting Nvidia and Palantir specifically.

✅ The three warning signs that suggest an AI bubble.

✅ How smart money (like SoftBank) is quietly exiting AI stocks.

✅ What founders and VCs should focus on in this new environment.

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VC10X breaks down the most important stories in tech, startups, and investing every week. If you want actionable insights to help you build or invest in the next great company, subscribe now.

LET'S CONNECT

Website: https://VC10X.com

LinkedIn: https://linkedin.com/in/choubeysahab

COMMENT BELOW

Do you think the AI market is a bubble? Or is Burry making a massive mistake? Let us know in the comments.

#MichaelBurry #Nvidia #Palantir #AI #BigShort #VentureCapital #TechBubble #Investing #Startup

After selling your company for half a billion dollars, what do you do next? Our guest, Shay Levi, decided to start all over again with an even more ambitious mission.

Shay previously co-founded the API security giant Noname Security, which was acquired by Akamai for a staggering $500 million.

Now, he's back with Unframe, a company taking on the entire software industry with a radical promise: they'll build your custom software for free, and you only pay if it delivers a real impact.

Today, Shay walks us through his incredible journey, the contrarian thinking behind his new venture, and how Unframe is using AI to build working solutions in just a matter of days.

⭐ Sponsored by Podcast10x - Podcasting agency for VCs - https://podcast10x.com

VC10X website - https://VC10X.com/

Unframe website - https://unframe.ai

Shay Levi on LinkedIn - https://www.linkedin.com/in/shaylevi2

🎙️ Hosted by Prashant Choubey

Follow Prashant on X - https://x.com/ChoubeySahab

Follow Prashant on LinkedIn - https://www.linkedin.com/in/choubeysahab

Timestamps:

(00:00) - Introduction to Unframe's business model and value proposition

(01:07) - Shay Levy's background and Noname Security's $500M exit

(02:52) - Founding story of Noname Security

(04:51) - Difficult moments and challenges during the Noname journey

(07:05) - Learning from failures and improving processes

(08:22) - Decision to start Unframe after successful exit

(11:38) - How Unframe's business model works in practice

(14:44) - Pricing structure and customer alignment

(17:14) - Managing client expectations and feature requests

(19:24) - Using AI tools for building solutions quickly

(21:45) - AI models and developer tools used at Unframe

(22:34) - Team structure for building solutions

(23:45) - Building blocks approach and platform architecture

(24:00) - Early days GTM strategy and customer acquisition

(25:39) - Emerging from stealth with $50M funding

(27:54) - Fundraising experience and investor reactions

(30:41) - Positioning Unframe as a foundational platform

(32:21) - Product-market fit indicators for Unframe

(34:06) - Building a moat and competitive advantages

(37:40) - Lessons learned from Noname Security

(38:40) - Biggest learning as a founder: the importance of hard work

(41:24) - Closing remarks

For sponsorship or guest appearance requests, write to [email protected]

Subscribe to VC10X on Youtube, Spotify, Apple Podcasts.

Meta and Amazon are making billions in profit, so why are they laying off thousands of employees in late 2025? It’s not a recession, it’s a strategic shift.

We break down the real reasons behind the new wave of "quiet layoffs" sweeping Big Tech and what it means for the future of your career.

In this deep dive, you'll learn about the "Great AI Re-Allocation," how the "Year of Efficiency" became a permanent strategy, and why the jobs of the future are becoming highly specialized.

This isn't just news; it's a critical look at the new rules of the tech industry and how you can navigate them.

TIMESTAMPS

(00:00) - Introduction: Meta and Amazon layoffs despite record profits

(00:37) - Recent layoff reports at Meta and Amazon

(01:35) - The new normal: continuous strategic culling in big tech

(02:00) - Reason 1: The great AI reallocation

(02:50) - Reason 2: Year of efficiency as permanent operating philosophy

(03:40) - Reason 3: Pandemic hiring aftershocks

(04:17) - What does this mean for you?

(05:04) - Silver lining: Talent boost for startup ecosystem

(05:22) - Conclusion and call to action

KEY TAKEAWAYS

✅ Why profitable companies are still cutting staff.

✅ How AI is forcing a massive reallocation of talent and capital.

✅ The new skills that are in high demand (and which are at risk).

SUBSCRIBE FOR MORE VC & STARTUP STRATEGY

VC10X breaks down the most important stories in tech, startups, and investing every week. If you want actionable insights to help you build or invest in the next great company, subscribe now.

LET'S CONNECT

Website: https://VC10X.com

X / Twitter: https://x.com/choubeysahab

LinkedIn: https://linkedin.com/in/choubeysahab

COMMENT BELOW

Has this new wave of layoffs affected you or your company? Let's discuss it in the comments.

#TechLayoffs #Meta #Amazon #BigTech #JobMarket #CareerAdvice #AI #VentureCapital

In this episode, we sit down with Michelle Urben, Managing & General Partner of the Synergos Fund, an innovative firm that is challenging the traditional VC model. They've launched a "continuum fund," a new structure designed to support transformative companies through their entire lifecycle, from seed to commercialization.

We dive deep into why they "don't invest for an exit," their mission to build "very durable companies that we want to own forever," and how they are tackling some of the world's biggest problems, from the global energy demand to recycling spent nuclear fuel.

⭐ Sponsored by Podcast10x - Podcasting agency for VCs - https://podcast10x.com

Synergos Fund - https://www.synergosholdings.com/general-7

Michelle Urben on LinkedIn - https://www.linkedin.com/in/michelle-boquiren-urben-0538852

🎙️ Hosted by Prashant Choubey

Follow Prashant on LinkedIn - https://www.linkedin.com/in/choubeysahab

Topics discussed:

- The Continuum Fund Model

- Conscious Capitalism and Impact Investing

- Long-Term Investment Strategy vs. Quick Exits

- Nuclear Energy and Spent Fuel Recycling

- The Evergreen Fund Structure and Investor Flexibility

& lots more

Timestamps:

(00:00) Introduction to Michelle Urben and Synergos Fund

(02:22) What makes a Continuum Fund different from traditional VC funds

(06:55) Solving the critical problem of access in late-stage startups

(07:30) Structure of the Continuum Fund compared to typical venture capital funds

(10:12) Defining conscious capitalism and ensuring returns for investors

(11:27) Investment deployment and flexibility for investors

(14:45) Transparency and meaningful stakes in portfolio companies

(18:02) Balancing patient capital with investor expectations

(19:04) Advantages of Washington, D.C. for the companies they're backing

(22:02) Navigating political uncertainty around clean energy and funding

(25:19) Electricity demand from AI and clean energy solutions

(27:31) Balancing active investing with community building in Washington, D.C.

(31:06) Investor reception to the new investment model

(33:02) Biggest learning from investing in startups

(34:27) Rapid fire round begins - sectors, stages, and investment approach

For sponsorship or guest appearance requests, write to [email protected]

Subscribe to VC10X on Youtube, Spotify, Apple Podcasts.

How did Intel go from losing $18.8 billion to a $4.1 billion profit in just six months?

A legendary venture capitalist, Lip-Bu Tan took over and executed a masterclass in corporate turnaround strategy.

We break down the VC playbook that not only saved the iconic chipmaker but also convinced its biggest rival, Nvidia, to invest $5 billion.

In this deep dive, we unpack one of the most dramatic business stories of 2025. You'll learn how Intel lost its dominance, the brutal decisions their new CEO had to make, and the strategic capital moves that shocked Wall Street.

This isn't just a story about a big company; it's a goldmine of lessons for every founder, operator, and investor.

Important Note: The stock graph screenshots & figures were taken after market closing on 28 Oct '25. Not a financial advice.TIMESTAMPS

(00:00) Introduction to Intel's dramatic turnaround story(00:50) Intel's fall

(02:06) Enter The VC - Introduction of Lip-Bu Tan as new CEO

(03:18) Tan's turnaround playbook

(5:52) Q3 2025 earnings report and financial results

(7:04) Key lessons for startups and VCs:

- Lesson 1: Value of an outsider perspective

- Lesson 2: Importance of strategic capital

- Lesson 3: Focus is everything

- Lesson 4: Speed of execution

- Lesson 5: Possibility of a comeback

(8:53) Closing remarks and call to action for viewers

KEY LESSONS COVERED

✅ The power of an outsider's perspective in a crisis.

✅ How to use strategic capital (not just any capital) to validate your turnaround.

✅ The importance of radical focus and cutting non-core assets.

✅ Why execution speed is a company's greatest weapon.

SUBSCRIBE FOR MORE VC & STARTUP STRATEGY

VC10X breaks down the most important stories in tech, startups, and investing every week. If you want actionable insights to help you build or invest in the next great company, subscribe now.

LET'S CONNECT

Website: https://VC10X.com

X / Twitter: https://x.com/choubeysahab

LinkedIn: https://linkedin.com/in/choubeysahab

COMMENT BELOW

What's the boldest corporate turnaround you've ever seen? Let's discuss it in the comments.

#Intel #VentureCapital #StartupStrategy #Turnaround #Investing #Business #TechNews #Nvidia

Jan Szilayi is the co-founder of Reflexivity, a AI market research platform that is quietly becoming the secret weapon for some of the world's top investors.

Backed by legendary figures like Stanley Druckenmiller, Thomas Peterffy, and Greg Coffey, and partnered with Microsoft, Reflexivity is already being used by major hedge funds like Millennium and Soros Fund Management to navigate the overwhelming flood of market data.

In this conversation, we explore how AI is evolving from a simple data tool into an analytical partner that helps investors ask questions they didn't even know they should be asking.

We discuss the key principles from legendary investors that are baked into the platform's DNA, and we tackle the big question: Could an AI one day compete with the best asset managers on the planet?

⭐ Sponsored by Podcast10x - Podcasting agency for VCs - https://podcast10x.com

Reflexivity website - https://reflexivity.com/en

Jan Szilagyi on LinkedIn - https://www.linkedin.com/in/jan-szilagyi-12284ab

🎙️ Hosted by Prashant Choubey

Follow Prashant on X - https://x.com/ChoubeySahab

Follow Prashant on LinkedIn - https://www.linkedin.com/in/choubeysahab

Timestamps:

(00:00) Introduction to the podcast and Reflexivity

(03:26) Johan's background and motivation for building Reflexivity

(04:25) Overview of the Reflexivity platform

(05:44) Differentiating Reflexivity from other AI investment tools

(07:50) Market focus of Reflexivity (public vs private markets)

(08:51) Key principle learned from Stanley Druckenmiller

(10:43) Types of research possible on Reflexivity

(13:02) Democratization of market alpha through AI

(14:53) Convincing top investors to use Reflexivity

(15:41) Influence of academic training on company building

(16:54) Managing a long-distance founder partnership

(18:09) Comparison with horizontal AI companies

(19:38) Strategic partnership with Microsoft

(20:41) Go-to-market learnings and challenges

(22:19) Potential for an autonomous investment agent

(26:32) Fundraising strategy and investor selection

(28:16) Capital allocation approach

(29:18) Comparing market prediction to running a startup

(30:55) Perspective on AI hype and market valuation

(33:05) Biggest learning from building Reflexivity

(33:48) How to learn more about Reflexivity

For sponsorship or guest appearance requests, write to [email protected]

Subscribe to VC10X on Youtube, Spotify, Apple Podcasts.

Ganesh Padmanabhan is the Founder & CEO of Autonomize AI.

After eleven years scaling infrastructure at Dell, Ganesh took on healthcare's biggest problem—an industry drowning in data but struggling to use it.

We're discussing AI agents, healthcare transformation, and why patients believe healthcare has deteriorated despite all the technological innovation.

⭐ Sponsored by Podcast10x - Podcasting agency for VCs - https://podcast10x.com

Autonomize AI - https://autonomize.ai/

Ganesh Padmanabhan on Linkedin - https://www.linkedin.com/in/padmanabhan/

Stories in AI Podcast - https://www.storiesinai.com/

🎙️ Hosted by Prashant Choubey

Follow Prashant on X - https://x.com/ChoubeySahab

Follow Prashant on LinkedIn - https://www.linkedin.com/in/choubeysahab

Timestamps:

(00:00) Introduction

(02:22) Ganesh's journey from Dell to founding Autonomize AI

(06:55) Overview of what Autonomize AI does

(10:03) Initial go-to-market approach and challenges in healthcare

(14:51) Developing channel partnerships

(18:15) Organic demand for AI in healthcare

(23:07) Challenges of implementing AI in healthcare (data privacy, hallucinations)

(29:17) Series A fundraising approach and strategies

(36:16) Details of the fundraising process

(40:24) Deployment of capital raised

(42:45) Balancing rapid product development with lengthy healthcare sales cycles

(46:27) Metrics used to show ROI to customers

(49:59) Most pivotal decisions that changed Autonomize's trajectory

(54:00) Playbook for building credibility in heavily regulated industries like healthcare

(57:11) Closing remarks and ways to follow Ganesh and Autonomize AI

For sponsorship or guest appearance requests, write to [email protected]

Subscribe to VC10X on YouTube, Spotify, and Apple Podcasts.