Katelin Holloway, an investor at 776, shares her insights on supporting founders by being helpful and empathetic. She emphasizes the importance of passion for aspiring investors and developing a unique approach in the venture capital space. Meanwhile, Adam Felesky and Mike Droesch discuss the necessity of maintaining commitments and broadening networks in early-stage investing. They also touch on the challenges of balancing profitability with quality in the booming meal delivery sector. This engaging dialogue is packed with advice for navigating the startup landscape.
Caitlin Holloway emphasizes the necessity for investors to maintain trust and support during challenging times for founders post-funding.
Mike Drosch highlights the importance of cultivating a genuine passion for venture capital to ensure long-term success and resilience.
Deep dives
Tovala's Success and Retail Partnership
Tovala has achieved significant success in the meal kit industry, reaching nine figures in revenue and enjoying three consecutive months of profitability. The company is launching a major retail partnership with Costco, which is viewed as an ideal collaboration for expanding their market reach. Tovala has focused on addressing customer needs by providing high-quality meals that require minimal preparation time, allowing users to enjoy dinner in under 30 minutes. This commitment to customer satisfaction and a streamlined cooking experience has been crucial for Tovala's growth and success in a competitive market.
Key Advice for Early-Stage Investors
Caitlin Holloway emphasizes the importance of being genuinely helpful as an investor, stating that building trust and honoring commitments is paramount. She suggests that many founders feel abandoned after receiving initial funding, reiterating the necessity for investors to maintain their support during challenging times. Simple gestures, like remembering personal milestones or checking in post-meetings, can strengthen relationships and build a supportive network. Holloway’s approach fosters lasting connections with founders, which can ultimately enhance an investor’s reputation and future opportunities.
Finding Passion and Personal Style in Venture Capital
Mike Drosch advises young investors to cultivate a deep passion for venture capital to sustain long-term success in the field. He suggests that recognizing personal preferences and tailoring their approach—whether through writing, networking, or other activities—can lead to better outcomes. By focusing on areas that genuinely interest them, investors are more likely to persevere through challenges and become adept in their chosen niche. Drosch's perspective highlights the significance of passion and personal style in carving a successful path in venture investing.