CleanTechies Podcast #116 - Consultative VC, Understanding Customers (as a VC), Developing Industry Networks for Your PortCos, & More w/ Rick Zullo (Equal Ventures)
(CoHost.AI Summary)
Imagine having a front-row seat to the evolution of climate tech, from the early 2000s to now. That's the fascinating journey we take with Rick Zulo, co-founder and GP at Equal Ventures, on our latest podcast episode. Rick candidly unravels his intriguing journey from earning a dual degree in leadership studies and economics to becoming a successful venture capitalist. His perspective on the creation and investment of startups designed to combat climate change is both insightful and thought-provoking.
Rick doesn't shy away from the challenges he faced during the cleantech backlash and the aftermath of the cleantech bubble burst. His unique point of view that venture capitalists are akin to sheep is certain to intrigue. He also illuminates his investment approach, which involves in-depth research before financial commitment, and discusses how the digital divide has impacted legacy industries. The conversation takes an intriguing turn as he discusses his belief that venture capital should be a consulting role with an equity stake.
In our chat, Zulo sheds light on the hurdles of raising capital for companies in legacy industries and how Equal Ventures is changing the game by offering similar opportunities as those in IT and consumer spaces. It's an eye-opening look into the future of venture capital and climate tech. We also explore his work with Climatech VC, where they have created a unique business model of giving away software for free and making money through working capital procurement. You'll surely leave this episode with a fresh perspective on climate tech and its future.
Show Notes:
In this episode Silas Mahner (@silasmahner) and Rick Zullo (@Rick_Zullo) discuss, Rick's career trajectory to VC, the thesis behind Equal Ventures, his thoughts on the CTVC's H1 Funding report, and his advice to founders and VCs.
This episode is densely packed with value as Rick has clearly thought a lot about these problems. Perhaps my favorite takeaways are 1) that he views VC as more Consulting with Equity than banking and 2) was how they develop industry connections and understanding so that they can actually help their PortCos succeed.
Enjoy the Episode! 🌎
* 📺 👀 Prefer to watch: subscribe on YouTube.
* 📫 Interested in written summaries and takeaways from the episode? Subscribe to the newsletter.
* Want to be part of the community and engage further? Check out the Slack Channel. https://tinyurl.com/mwkn8zk5
CleanTechies is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.
Topics:
* 1:51 Intro to Rick
* 8:10 How he got into Climate
* 19:27 Equal Ventures
* 23:45 VC is not Consultative Anymore
* 35:45 Building in Public
* 39:53 Their Remit
* 42:38 H1 CTVC Funding Report Reaction
--PAY WALL--
* 45:58 Advice to Other Founders and VCs
* 50:03 Speak the Language of Your Customers
* 52:09 The Biggest Mistakes Founders Make
Links:
* Connect w/ Rick on Linkedin: https://www.linkedin.com/in/rickzullo/
* Follow Rick on Twitter (X.com): https://twitter.com/Rick_Zullo
* Equal VC Website: https://www.equal.vc/
* Check out our Sponsor, NextWave Partners: https://www.next-wavepartners.com/
* Follow CleanTechies on LinkedIn: https://www.linkedin.com/company/clean-techies/
* HMU on Twitter: @silasmahner
Thank you for reading CleanTechies. Feel free to share the post if you enjoy it.
Other episodes you might enjoy:
* Most Recent Episode: How Logical Buildings Built the First Residential & C&I Energy Management Service w/ CEO, Jeff Hendler
* Similar Topic: How to Raise Money for your ClimateTech Startup w/ Tommy Leep, founder of Jetstream VC
* Something Totally Different: How to build an MVP with a complex ClimateTech Startup - Andy Frank, Founder of Sealed