The Full Ratchet: Venture Capital Demystified

Paul Martino of Bullpen Capital joins Nick to discuss the emergence of the Post-Seed round. In this episode, we cover:

  • Why Paul passed on joining Mike Maples at Floodgate in order to start Bullpen
  • The product/market fit algorithm he developed for Mike
  • If the stages of funding are moving out or if there are just more of them
  • How Bullpen is differentiated
  • The metrics they require to engage with startups
  • How his quant background has helped make this subjective discipline more objective
  • The hardest aspect of developing new, young VCs
  • We discuss lack of innovation in the asset class
  • Why herd mentality is pervasive
  • Other contrarian principles he and Bullpen embrace
  • If it's harder to get A or B round funding for the non-traditional founders or industries that he invests in
  • How Private Equity is impacting exits
    the differences in sourcing at post-seed
    and we wrap up w/ Paul's thoughts on how branding and investment focus helps drive opportunity for Bullpen

 

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Direct download: FR159_Martino.mp3
Category:general -- posted at: 8:17pm EST