Conviction, Tenacity, and a 97% IRR with ex-NEA and Tenacity VC’s Ben Narasin

I sat down with Ben Narasin, Founder and General Partner of Tenacity Venture Capital, for a wide-ranging conversation on what it takes to consistently back and build generational companies. Before launching Tenacity, Ben was a General Partner at NEA, one of the largest venture funds in the world, and earlier in his career founded FashionMall.com, which he led to an IPO during the first dot-com wave. Across decades in venture and entrepreneurship, his returns have been remarkable with a 97% IRR that reflects both discipline and conviction.

In this episode, we unpacked how Ben developed his founder-first philosophy, what drives his decision-making at the seed stage, and how he balances intuition with data. We also explored lessons from his own journey as a founder, how he spots resilience early, and what Tenacity’s name really means in practice.

If you’re interested in what separates the great investors from the good ones or how conviction compounds over time, this episode is a masterclass in both.