How Impact Scales Portfolio Support

Cassie Young is a General Partner at Primary Venture Partners, a $1B AUM early-stage firm in New York backing category-defining SaaS, fintech, and vertical software companies. Before investing, she spent 15 years as a GTM operator, serving as Chief Revenue Officer at Sailthru and later Chief Customer & Commercial Officer at Marigold (Campaign Monitor, Sailthru, and other martech brands), where she scaled global sales, marketing, and customer success organizations.

Today, Cassie leads investments while also running Primary’s Impact program, giving founders access to a 30-person team across talent, GTM, and strategic finance, and she continues to teach operators through programs like Pavilion and Duke’s Innovation & Entrepreneurship board.

Discussed in this episode:

• How Cassie “accidentally” became a VC after 15 years in GTM leadership.
• The career advice Bill Gurley gave her that changed her trajectory.
• Why Primary refuses to say “platform” and instead built a 30-person Impact team.
• How she actually sources pre-seed/seed founders before they leave their jobs.
• Primary’s 5-part Founder Outcomes Framework (vision, talent, JDCE, and more).
• The difference between real traction vs. “happy ears” and fake design partners.
• Why she’s picky on GTM/AI tools and looks for step-change, not incremental gains.
• How operators can actually break into VC (hint: it’s all about doing the work).

Episode highlights

00:35 — Clay, usage-based pricing, and the $100M ARR rocketship

09:10 — The real story on AISDR: where AI reps actually work (and where they really don’t)

14:02 — Inside “The Gross Retention Apocalypse” and why AI experimental budgets are a ticking time bomb

22:46 — How Cassie accidentally became a VC and the Bill Gurley advice that changed her career path

27:17 — Why Primary hates the word “platform” and how Cassie built a 30-person Impact team for founders

36:10 — Cassie breaks down her 5-part founder outcomes framework (including “jaw-dropping customer experience”)

46:01 — Avoiding “happy ears”: how founders should really use design partners and MedPick-style rigor

57:48 — Time to value as the new north star and why nailing a tight wedge beats peanut-buttering features

1:01:29 — So you want to be a VC: Cassie’s playbook for operators to break into venture (without delusion)

Brought to you by: AngelList

How did we build the GTMfund back office? Easy!

We leveraged AngelList’s Rolling Fund product for Fund I, which was the perfect vehicle to scale up GTMfund in its first iteration. This structure allowed us to build our network, and add revenue leaders while we raised and deployed capital simultaneously, which was crucial for getting early points on the board and building relationships with founders.

For Fund II, we transitioned to a traditional closed-end fund structure through AngelList. This time with institutional investor support. This model allowed us to be more intentional about our portfolio construction. We worked closely with the AngelList team throughout this process, and they were incredible — always there to support us and our LPs every step of the way.

If you’re raising a fund or are looking to migrate your fund, we highly recommend you check them out. You can do so at www.angellist.com/gtmfund.

The GTMnow Podcast
The GTMnow Podcast is a weekly podcast featuring interviews with the top 1% GTM executives, VCs, and founders. Conversations reveal the unshared details behind how they have grown companies, and the go-to-market strategies responsible for shaping that growth.

Visit gtmnow.com for more episodes and other interesting content.