Cliff Goldstein

🚀 How do you get a pre-seed or seed round done *quickly* in NYC? ✅ Assemble a list of over 80 of the earliest-stage fund and angel investors in town ✅ Curate a dozen or so of them based on relevancy ✅ Break bread together. That's what nextNYC is doing with Checkwriters--and applications are OPEN. We're looking for pre-seed and seed NYC founders to pitch at our dinner next Wednesday night. The only criteria is that you have to have at least one *professional* investor committed to a currently open round--be it a fund, angel, scout, etc. 🗓 Applications are due *this Thursday*: https://lnkd.in/epJjny4P 🤝 Shoutout to the folks at Orrick Tech and Rho for helping to make this happen: Orrick is a tech-focused law firm passionate about helping entrepreneurs, innovators and investors push boundaries. Through our extensive client portfolio, deal volume, and relationships in the ecosystem, we provide commercial insight to each client’s strategy. From financing to protecting IP to retaining talent to advocating for innovation-friendly public policy, we offer a holistic solution across the tech & venture lifecycle. Rho is the business banking platform with everything founders need to manage their company cash and grow their business. See how they are supporting founders in NYC (https://lnkd.in/ef7uzDQv) – and earn rewards for switching your operating account to Rho.

55

7 Comments

Some thoughts after spending some time with a handful of builders and investors in NYC this past week! 1. New York City is quietly fostering one of the most vibrant and underrated consumer founder communities in the country. This ecosystem is bursting with innovative energy, driven by founders who are deeply embedded in culture and consumer behavior. For those who haven’t tapped in yet, I strongly recommend paying attention—it’s a hotbed of potential that’s primed for growth. 2. Understanding and valuing consumer products demands more than just financial acumen; it requires a deep understanding of culture, trends, and human behavior. Many investors are stepping away, not because the space isn’t viable, but because they lack the nuanced taste and cultural insight necessary to identify and nurture truly impactful consumer products. This gap presents a massive opportunity for those who “get it” to dominate the market with culturally relevant investments. 3. In today’s world, a product or service that lacks a strong community component is missing the mark. Community isn’t just an add-on; it’s the foundation upon which modern consumer brands are built. Doubling down on building and nurturing a community around your product can create a powerful network effect, driving organic growth and fostering long-term loyalty. 4. The next wave of consumer social platforms won’t look like the traditional social networks we’ve become accustomed to. Instead, we’ll see social experiences seamlessly integrated into other aspects of daily life, such as fashion, education, and real-world interactions. This evolution will redefine how we connect, share, and engage, creating new opportunities for innovation at the intersection of technology and everyday life. 5. Simplicity wins — In a world overflowing with options and information, simplicity is the ultimate competitive advantage. Products and services that cut through the noise with straightforward, intuitive designs and clear value propositions will stand out. Complexity might seem impressive, but simplicity is what drives adoption and sustained success in the consumer market.

64

9 Comments

Fundraising sends signals. Want to know yours? Too early - you might not be patient. Too much - you might not be capital efficient. Too late - you might've struggled to gain traction. Too long - you might not be interesting to anyone. Too short - you might be raising from who you know. But all those signals depend on how you are portraying your raise. Too early - might be good for your market or IP, because you need to move fast. Too much - might be necessary to deliver value effectively and efficiently. Too late - might be because you were obsessed with understanding your customer and problem. Too long - because you didn't need immediate capital and instead, more strategic investors. Too short - since you built a proposition that was investable based on those with the capital. Reverse engineer your investment narrative. Send the right signals. Want to know what signals you're sending? Drop a comment below and I'll reach out.

13

 I recently had the privilege of sitting down with Rob Lalka, a dear friend and the insightful author of "The Venture Alchemists: How Big Tech Turned Profits Into Power." Our conversation was a deep dive into the pivotal themes of his book, such as the ethical implications of technological innovation, the complex power dynamics between big tech firms and government entities, and the broad socio-economic impacts of tech monopolies on global markets. Rob's perspective on how big tech navigates profit, power, and responsibility offered an enlightening glimpse into the strategies that shape our world. This discussion is a must-listen for anyone intrigued by the influence and operations of tech giants and also how technology is used as a tool in our modern era. 🎧 Don’t miss this captivating episode where we explore these crucial issues and more. I’m eager to hear your thoughts and to keep this important conversation going! Listen now 👉 https://lnkd.in/gsDbPZtP #ImpactEXP #Podcast #BigTech

27

2 Comments

THE TRUTH ABOUT CLIMATE WEEK It's the Sunday before #ClimateWeekNYC is about to kick off and I have had an epiphany and a reminder. I went to a screening of the film, Common Ground, (https://lnkd.in/g83gvK8u) at the Climate Film Festival (https://lnkd.in/gi4Pd-Mi) and I was blown away and I met some amazing people doing vital work. The film is a brilliant portrayal of how closely tied human health and survival are to soil health and survival. And of course how we and big ag are destroying the hand that feeds us. The numbers are really ffing scary: 33% of the earth's soils are degraded, and topsoil could run out in just 60 years (we are losing 24B tons of fertile soil/year.) My partner, Paul Hawken, has been whispering in my ear, actually screaming in my ear, for years, that the soil is everything in climate. Common Ground makes an equally compelling case. No mystery that regenerative agriculture is the answer to both sequestering gigatons of carbon and to feeding a growing world population. In fact, of all nature-based solutions, soil has the greatest potential to sequester carbon and save our planet. And regenerative ag is also a long term more sustainable and more profitable business than conventional farming. Common Ground graphically presents the stark differences between regenerative farms and conventional farms located right next to each other and it's astounding. So yes I finally see the light or rather the soil as the key to our health and prosperity BUT I am a little embarrassed that I needed a film to remind me why I started Climactic. I/We get so caught up in the tech and the business in #climatetech that we can forget why we are all here. I suspect many of you are with me on this, as we negotiate term sheets, calculate TAMs, measure unit economics and plot exit values. We are here to use our knowledge, connections, skills, savvy and passion to help heal our planet and to help extend its life. Our efforts are by no means sufficient but they are quite necessary. While many of us love tech, we are in climate tech to make a difference, to make an impact, to set an example, to lift humanity up. And yes we can also generate great returns since these missions are not in conflict. As I mentioned, regenerative is good business for everyone, EXCEPT the corporations feeding us synthetic fertilizers and selling us conventional tillage equipment and the farmers who refuse to go regenerative. As we all move through climate week, let's remember why we are all here and speak out LOUDLY and BOLDLY to remind others in every session. Geeking out on tech and especially AI is stimulating and exciting for all of us techies but if done in a vacuum without deeply considering the planet, then we will all be guilty of unconscious greenwashing, so let's try and avoid that. Have an amazing week and I can't wait to see many of you at our Climate AI event on Wed (https://lnkd.in/gYGzQh2a) and yes AI and Ag is now on the agenda!

30

13 Comments

WE DID IT! After 2 years of pushing through the biggest downturn in VC in decades, Matthew Stotts 🌐 and I made it to the finish line with Fund I! We couldn't have done this without One Small Planet (Will Peterffy and Jack Wielebinski 🙏), Regen Network and Regen Foundation (Austin Wade Smith Gregory Landua and Will Szal), and a dozen other family offices and angels who believed that we can build a nature-positive economy utilizing our eye for software and our history as founders from day 1 A shout out goes to all of our founders (only four announced today, but watch this space - there are multitudes!) who trusted us enough to give us a spot on their cap table for this 10-15 year journey. This is the best job in the world, and it's because we get to work with people like you who have weird ideas in the best possible way. Using Bitcoin as anchor base load to decarbonize residential housing in America's most expensive energy market? Make every complex supply chain legible to machines so we can find and eliminate deforestation in commodity supply chains? Build deeply liquid environmental asset markets to price ecosystem services, on a blockchain, that no one needs to know is a blockchain? I'm so excited to get to work on this stuff for the next 10-15 years minimum, and to see what we can accelerate with our tiny fund in the next 5-6 years as we approach 2030 Onward! https://lnkd.in/gy3B-DFe

571

118 Comments

We just wrapped up an incredible Offsite in Lake Tahoe with the GroundForce Capital team. We’ve got a high-performing group that’s comfortable operating independently, which is great. But in-person, nonwork connections build the kind of relationships that make us more productive and happier in what we do. An unexpected takeaway? The distinction between process and content. A new associate, Summer Farren, raised a powerful question during one in-depth session: “Do we need to take a step back and think about process here?” My response? Absolutely we do. Most people, most businesses, confuse process and content. It’s as simple as having an agenda in advance of every meeting with clear objectives. Setting the context for a meta-conversation versus an in-the-weeds conversation is essential. If it’s all content, we need to make sure we step back and talk about the process. The reality? Most people operate in the business, not on the business. Seemingly minor moments like these are the reason we’re better together. A quick question can spark a massive shift in how you operate. Roles, titles, and seniority don’t matter. Everyone on the team has a unique skill set, and these Offsites are invaluable reminders of what those are. I’m excited for more meaningful moments with GroundForce Capital in 2025 and beyond!

86

6 Comments

In 2003, Mike Kirban was skating around NYC selling coconut water. 20 years later, that same product is set to hit $500 million in sales. 🥥 This is the Vita Coco story. The product is simple - some may even call it a commodity. But, branding, story telling and the right marketing allowed this Verlinvest portfolio company to win. This story will show that brands are built with patience, hustle and heart. In 2003, co-founders Michael Kirban and Ira Liran met 2 Brazilian women at a bar. Ira ended up falling in love with one of them and moved to Brazil🇧🇷 Later, during one of Mike’s visits, Ira convinced him to partner up to start selling coconut water in the US. Vita Coco was born! They scraped together $75,000 and bought two containers of coconut water; only to realize that they didn’t have FDA clearance to import them. But that didn’t stop them – They re-exported them to the Bahamas and flew there to sell through the product door-to-door. Mike was everywhere—skating through NYC in the morning, doing store demos in the afternoon and then bookkeeping at night. That’s the real founder hustle :) Meanwhile, Zico, a better-funded competitor, was emerging, setting the stage for the "coconut water wars." It’s around this time that Verlinvest realized we wanted to have a share of the coco-war, and ended up investing $2M. At the time, Vita Coco had not even hit $1M in sales yet. The momentum continued. In 2010, the brand raised a $5M celebrity from celebs like Madonna and Matthew McConaughey. Today, this is common - but at that time it was path breaking. Suddenly, they had the megaphone they needed to build massive brand awareness 🫡 Through the years, their distinct branding and marketing strategy allowed them to stand out on shelves across the world. In 2021, Vita Coco went public, raising $172M. Now, they’re on their way to clock $500M in sales :) From no business plan to building one of the biggest global beverage companies, the story of Michael and Ira building brand in a category like coconut water is one that’s always amazed me. In a lot of cases in consumer products, the product isn’t necessarily the moat. Success comes from brand and a relentless hustle - the willingness to roll with the punches. I’ve always said - the best way to start is to start. You will end up figuring out a lot on the way. I love the product. Have you tried Vita Coco? Do you think there is a case to build such a large coconut water brand in India? PS: Thinking of sharing more stories of our global Verlinvest portfolio like this. Thoughts? #business #entrepreneurship #founder

180

50 Comments

Everybody needs a place to put their love. - Karina Dresses tagline, circa 2012 In 2012 I made my first investment in a #femalefounder who also happened to be 50+. At the time I had no idea how unusual these founder traits were. I just knew the founder was passionate, authentic, experienced, perfectly aligned with both the product and the market. Most importantly there was a strong emotional bond between the product and the customers who bought it. 🤷🏾‍♂️- it just seemed like the smart thing to do. Not a lot of my investor buddies agreed at the time- probably not so surprising. Fast forward 10+ years and the value of my investment is ~20x & the amount of free cash flow distributed to equity holders is substantial & still increasing YOY. My takeaways: ✅Invest in authenticity, passion and intimacy (customer)- no matter what the founder profile looks like relative to others. ✅Follow your gut. ✅Not every deal is venture scale worthy. But there’s a potential investor for every deal. ✅Be the best version of you, not a lame version of someone else. Works for both investors & founders. :) Congratulations to Karina and the team at Karina Dresses! Proud as punch to be on this journey with you all🚀

10

5 Comments

$20M per employee!? Did you hear Garry Tan on My First Million Podcast? YC’s impact is staggering—they’ve created around $20 million in market cap value per employee, and when it comes to investment returns ~$100M... WILD! From 2018 to 2020, the top decile of YC investors saw a 16x return, and even the median investor saw a 5x return. Compare that to traditional VC, where only the top quartile usually sees any meaningful profit. YC’s power-law returns and impact per employee show the strength of their unique approach—simplifying equity deals and enabling founders to focus on what matters: building great companies.

63

4 Comments

💰Sharing a List of 80 Black-led VC funds (US based): About this list: I realized that I couldn’t find a current list of Black-led funds as of 2024 when a lot of new funds have launched over the last couple of years including GPs Sydney Paige Thomas, Terri Burns and more. I have been gathering a list of these funds in my network, and that I could find publicly over time so wanted to share with the ecosystem. Only 2% of VC funds are Black-led: I found 80 funds (maybe there’s more!). There are 3,417 VC firms in the US (according to NVCA). Founders - These funds invest from pre-seed through growth, some with a focus on diverse founders, others more broadly. ⅔ of them have OPEN funding applications that I’ve linked in the sheet. LPs - As mentioned, a number of these funds might not be in the databases used for tracking, so hope to get some more Black-led funds on your radar! VCs - maybe there are some funds you should get to know for deal sharing, etc 👉🏾Link to full list here: https://lnkd.in/gktBhY-W

936

118 Comments

I spoke to a founder whose fully remote company was destroying his business. They always had a strong anti-meeting culture, but embraced WFH during the pandemic. They couldn’t translate that culture remotely. Teams & communication got siloed - they weren't productive or innovating. Their revenue and growth suffered and the team grew frustrated. They tried changing their culture, but it didn’t work. At a town hall and came up with a solution: - Renting a cheap WeWork space - In the office three days a week - Banning meetings when remote And that change brought back their culture & growth. They didn’t need the office – but they did need collaboration. #WFH #Entrepenuership #SaaS

39

18 Comments

Finding the Perfect Balance at popped.nyc: Where Exclusive Meets Inclusive At popped.nyc, we're all about crafting a unique environment that bridges the gap between exclusivity and inclusivity. We embrace the "IYKYK" mentality, creating a space where insiders and newcomers alike feel valued and engaged. How do we achieve this balance? Open-Access Programming: We host events that are welcoming to all, ensuring that new faces can seamlessly integrate into our community while still offering exclusive experiences that make our regulars feel special. Inclusive Design: Our workshops and events are crafted with everyone in mind. Whether you're a seasoned pro or a curious newcomer, you'll find opportunities to connect and contribute meaningfully. Mentorship and Guidance: Experienced members are encouraged to share their knowledge and guide newcomers. This fosters a collaborative atmosphere where everyone can grow together. Segmented Access: We offer a range of events, from exclusive gatherings to open-access programs, ensuring that there’s something for everyone while maintaining the special touch of our niche community. Transparent Communication: We believe in clear, open communication about the nature of our events and the reasons behind any exclusivity, helping manage expectations and ensure inclusivity. Interactive Elements: Our events are designed to spark curiosity and engagement, providing newcomers with a glimpse into what makes our community unique. Respectful Boundaries: We balance privacy with openness, ensuring sensitive topics are handled respectfully while still fostering an inclusive dialogue. By focusing on these principles, we create a vibrant, dynamic space where the "IYKYK" mentality enhances our community while ensuring that everyone feels welcomed and involved. Join us at popped.nyc and be part of a community that celebrates both exclusivity and inclusivity. Let’s make connections and build something special together! #CommunityBuilding #InclusiveCulture #Networking #PoppedNYC #Events #ProfessionalGrowth

7

Wealth advisors are lacking two things right now: 1. Context 2. A full, holistic picture This is a problem I've set out to solve. The other day, a colleague asked why I created insytz. My response was simple: If everyone thinks in incomplete pictures and makes decisions based on curated, cherry-picked data, then everyone has the same blind spots. insytz virtually eliminates blind spots. It's not a trading platform. It's not curated. It's not biased. It's the FULL picture. insytz is a genuinely comprehensive view of the global macro ecosystem in real-time and going back decades. And it's going to help professional investors enhance their market knowledge, awareness, and investing expertise. #Finance #Investing

16

We are excited to back EnFi, Inc in their first round of financing. They just came out of stealth and announced a $7.5 million raise from our good friends at Unusual Ventures, Boston Seed Capital, Argon Ventures and us at Impellent Ventures. Scott Weller spoke with me about his new idea around revolutionizing credit risk analysis through AI, begrudgingly bemoaning getting pulled back into yet another startup :) He and Josh knew there had to be a better way to get risk analyzed fast at the level of the enterprise after the great SVB failing occurred and left thousands of founders scrambling away from their multi-covenant loans. They needed to move their money but couldn't because other financial institutions still relied on a clunky, long process of assessing loan-worthiness. Enter Enfi. I asked him to invest. Scott was another one of those entrepreneurs we'd back no matter what they were doing. It took a while to get him and the indomitable Joshua Summers to make room for us. But they finally relented, because I'm annoying. Very, very annoying. Like a chihuahua with a kazoo, except worse. Ask anyone... EnFi’s platform is revolutionizing credit risk analysis, underwriting and portfolio management through advanced AI and real-time monitoring for complex credit instruments. Their innovative approach to Continual Risk Analysis provides institutional and private lenders with deeper insights and automation, enhancing decision-making and risk management. Congratulations to co-founders Joshua Summers and Scott Weller, and the entire EnFi team. We are proud to be part of your journey and look forward to your continued success! #Fintech #AI #Lending #CreditRiskManagement #Innovation

18

2 Comments

View from the Office. I met Kyle Kazanjian-Amory, CEO and founder of Don't Tell Comedy, at a show he hosted in a loft in New York’s Meatpacking District. Kyle describes Don’t Tell Comedy as a house party for comedians. He launched the company in 2017 when he arranged a performance in a friend’s backyard. Three months later he quit his day job and organized 35 more shows that year. The shows featured little-known comics appearing in unusual locations announced at the last minute. He charged a small amount because he realized it made people more likely to show up. The events were BYOB to reduce the cost and increase the fun. That modest start has morphed into 100 events a week. Growth has been fueled by taping some of the shows and posting content on social media. Kyle said the hardest part about building the business in the beginning and even today is managing the inventory of chairs. Chairs have to be stored somewhere and lugged everywhere. Early on he would pack 60 IKEA Gunde chairs into a Prius and drive from LA to Portland. He jokes that if comedy doesn’t work out they could pivot to be a chair rental company. After graduating from college, Kyle worked briefly as an accountant. He hated it. On the side he was doing stand up; he was frustrated that the shows weren’t more engaging. As he described it on the podcast More of That, shows were held in the same tired venues and required two drinks. Some were held in bars where comics had to compete with football games on TV. It wasn’t fun. His solution was to host shows in smaller, unique sites announced the same day. He picked places ranging from CrossFit gyms to art galleries to barber shops. I attended a show in a loft near 14th street. It was one of the events that Don’t Tell videotaped. That effort started in 2022 with a YouTube channel and has been an accelerant to growth. In two years the channel has ballooned to 1.7 million subscribers. Don’t Tell posts have helped comics develop their own audiences and get discovered by bigger clubs. Kyle said he wants to be known as the brand that discovers talent. I can vouch that Don’t Tell is nothing like other shows I’ve attended. A friend recently took me to the vaunted Comedy Cellar in Greenwich Village. We were herded in like livestock through a chute. We had to deposit our phones in sealed plastic pouches. There was the inevitable requirement of two expensive, poorly made drinks. The comics were good, but they would drop in – do their set – and leave. By contrast, the comedians at Don’t Tell lingered after the show. The group included Mason James, Nore Davis, Jay Larson, Rachel Feinstein and Rachel Williams. I listened in as one of them — Mason — shared his experiences with guests. All around us the crew was breaking down and packing away the chairs. Somewhere outside a Prius was probably waiting to take them to the next site. #viewfromoffice

46

5 Comments