Fintech regulations around the world can vary wildly, but here in Canada, they can be particularly onerous. Today someone who is no stranger to redefining and working through the complexing of Canadian regulations. Our guest is the Founder and CEO of KOHO Financial, Daniel Eberhard.Dan grew up in a tiny town in British Columbia and now runs a company with over 250 employees and $275m in financing.We talk about how bad the Canadian regulatory environment is for fintech companies and why innovation in the industry is being throttled by the government and their respective industry advisory groups.About Daniel Eberhard:Daniel Eberhard is the Founder and CEO of KOHO Financial. He started his career in 2010, building Kineticor Renewables Inc., a Saskatchewan wind farm company he and partner Andrew Plaunt began as a class project. They sold in 2011 to renewable energy giant Algonquin Power & Utilities Corp. Eberhard then decided to take on Canada’s bank giants by starting Koho Financial Inc. in 2014. Koho does away with the bank fees most users pay by providing them with a free, prepaid Visa card and mobile software to do many of their transactions such as taking direct deposits, paying bills, and making electronic transfers. Koho is not a bank but has partnered with Vancouver-based Peoples Trust Company to hold clients’ money while Koho handles the user interface, earning money by taking a portion of the interchange fee that merchants pay to process credit card transactions.In this episode, we discuss:(01:11) Dan’s path to becoming an entrepreneur(05:05) Lessons he learned from his mom about business(06:53) The problems with Canada’s banking regulations(09:26) Why the name KOHO(10:40) The culture at KOHO(13:57) Finding the right fit for new hires(17:50) How EQ figures into Dan’s leadership style(20:36) The impact of coaching and therapy on his leadership(22:52) The role of coaches at KOHO(30:22) How Dan is able to focus and compartmentalize his work(32:31) Why Fintech innovation is failing in Canada(37:26) How the market for fund raising and managing capital as a startup has changed(39:20) The next five years for KOHO(41:41) Advice to new founders(44:08) Early feedback from users(45:06) KOHO’s current relationship to other bankers(45:56) Life if Dan wasn’t a founderFast Favorites:* 🎙- Favorite Podcast: Sam Harris* 📰- Favorite Newsletter / Blog: Wait But Why* 📲- Favorite Tech Gadget: Oura* 📈-  Favorite New Trend: Deoptimizing your life* 📚- Favorite Book: The Lessons of History by Will and Ariel Durant* 🤔 - Favorite Life Lesson: Watching how hard his mom workedFollow Matt Cohen and Tank Talks here!Podcast production support provided by Agentbee.ai This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit tanktalks.substack.com

Prashant Matta, General Partner at Panache Ventures, shares insights from his impressive background with OMERS Ventures and Samsung. He discusses the evolution of the Canadian venture scene and the impact of market downturns on investment strategies. Prashant highlights Panache’s focus on pre-seed and seed-stage investments and the essential role of diversity in startups. He also reflects on lessons learned from working closely with founders and the significance of adapting to changing market conditions. A must-listen for aspiring investors!

This week we have a titan of Private Equity and Real Estate in Canada, Jon Love the Founder and CEO of KingSett Capital.Jon shares some incredible stories from his early years of running Oxford Properties, the lessons he learned from helping the firm navigate two real estate market downturns, and how the eventual sale to OMERS came to be.Jon discusses the reasons he decided to launch KingSett Capital back in 2002, how his leadership style has evolved from his days at Oxford, and how he has been able to grow the firm’s assets to over $17B.We dig into how Canada is falling behind on many aspects of innovation, the return-to-office mandates CEOs are facing today, and his thoughts on the current political climate in Ottawa.Plus we have John Ruffolo back to talk about the week’s news.About Jon Love:Jon Love is the founder and CEO of KingSett Capital, a prominent private equity real estate investment firm. Since its inception in 2002, KingSett has impressively managed over $17 billion in assets, earning a strong reputation for its effective investment strategies across various sectors, including Growth, Income, Urban Development, Mortgage, Residential Development, and Affordable Housing.Before his leadership at KingSett, Jon had a distinguished career at Oxford Properties, beginning in 1980 and eventually becoming President in 1987 and then CEO in 1992. He notably guided Oxford's transition to a publicly traded company in 1995. In 2001, Oxford was privatized when it was acquired by the Ontario Municipal Employees Retirement System (OMERS) in a $4 billion deal.Jon actively participates in prestigious business organizations and has received numerous accolades for his leadership and academic achievements, including an Honorary Doctorate from Western University in 2016, membership in the Order of Canada (C.M.) in 2018, and prestigious awards such as the Ivey Business Leader of the Year Award and the NAIOP Rex Icon Award in 2023.In this episode, we discuss:(0:01:04) News rundown with John Ruffolo(0:21:57) Jon Love’s career journey(0:23:08) Advice his father Don Love gave him as he took over Oxford Properties(0:24:12) How Jon’s experience selling Oxford shaped his view on when to sell(0:26:47) The importance of leveling with creditors and investors(0:30:50) Why he didn’t view as a Oxford a family business(0:33:35) How Jon’s approach evolved when he started KingSett Capital(0:34:26) On second-guessing himself for starting a new business(0:35:38) Making the jump to entreprenuership(0:38:40) How KingSett works to retain talent(0:40:30) How Jon’s approach to fundraising has changed over time(0:41:16) Why no deal is too small for KingSett(0:42:18) Derisking deals to protect against broader market trends(0:44:11) What current market conditions have meant for KingSett(0:45:23) The state of equity deals(0:46:18) Why innovation is lagging in the Real Estate sector(0:48:22) The importance of ESG to Jon and KingSett(0:50:42) Thoughts on the Canadian residential Real Estate market(0:54:39) Advice to younger leaders and CEOs(0:56:15) Why face to face is important(0:57:30) How Jon uses his Family Office Jona Capital(0:58:32) Jon’s passion investments(0:59:34) Political ambitions(1:02:19) How competitive Canadian capital is in the global marketplaceFast Favorites:* 🎙- Favorite Podcast: Tank Talks* 📰- Favorite Newsletter / Blog: Bloomberg News* 📲- Favorite Tech Gadget: His Phone* 📈-  Favorite New Trend: Facetime for keeping up with family* 📚- Favorite Book: Kids books with his grandchildren* 🤔 - Favorite Life Lesson: Bet on peopleFollow Matt Cohen and Tank Talks here!Podcast production support provided by Agentbee.ai This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit tanktalks.substack.com

We are big fans of coaching as a way to make career (and life) progress. Having a seasoned third party helping guide you through big decisions and day-to-day processes can be an invaluable edge in business. Our guest today is Joe Dunn, Principal at Cloudbreak - Executive and Founder Leadership Coaching.We dig into some of Joe’s coaching strategies when dealing with young leaders, how his coaching style sets him apart from the other CEO coaches out there, and how Joe balances emotional and rational responses when coaching founders who are struggling to find ways to drive company growth and personal development as a leader.About Joe Dunn:Joe Dunn, Principal at Cloudbreak - Executive and Founder Leadership Coaching, is a certified CTI Professional Coach known for his "Candor Coach" role with the Radical Candor team. With an impressive client roster that includes industry giants like Airbnb, Pinterest, LinkedIn, Asana, Envoy, Segment, and Plaid, Joe specializes in coaching CEOs, founders, executives, and technical leaders in the tech sector. His extensive background encompasses key early roles in three successful startups that went public and another that achieved a noteworthy $250 million sale. From humble beginnings in startup garages to a six-year stint as a product/engineering VP in a publicly traded company, Joe brings a wealth of experience spanning all stages of company growth.Joe's clients, typically founders, executives, and technical leaders, seek his guidance for personal and organizational growth. He offers expertise in various aspects of effective management, including hiring, communication, and navigating organizational change. Moreover, he helps clients uncover and transform fundamental personal patterns that drive success, making him a versatile and invaluable resource for individuals and organizations aiming to reach their next level of achievement.In this episode we discuss:(01:13) Joe’s journey to becoming a leadership coach(04:37) Parallels between coaching and parenting(07:45) Coaching founders and CEOs to be better communicators(09:50) An early experience that showed Joe the importance of a good coach(13:41) Helping founders become leaders(15:49) How surfing around the world with his son helped Joe evolve as a coach(18:03) Joe’s coaching style(22:06) Advice that Joe is giving in this current market to founders(26:13) Common traits amongst successful founders(28:21) How founders can empower their teams and delegate(30:42) What to do if delegating backfires(32:14) Advice to remain mindful and have a work-life balance as a founder(35:03) Perceptions of coaching in the marketplace(37:34) How Founders can maintain their overall focus on their long-term vision(40:03) Will AI replace coaches?Fast Favorites:* 🎙- Favorite Podcast: Prof Galloway* 📰- Favorite Newsletter / Blog: Ben Evans* 📲- Favorite Tech Gadget: Electric Bikes* 📈-  Favorite New Trend: Psychedelics* 📚- Favorite Book: Possession by A. S. Byatt* 🤔 - Favorite Life Lesson: There's way more time than you thinkFollow Matt Cohen and Tank Talks here!Podcast production support provided by Agentbee.ai This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit tanktalks.substack.com

Building a career is a series of choices, outcomes of those choices, and then reacting to those outcomes. Sometimes a small choice can have an outsized return, sometimes the reaction to an outcome can lead you down a new path. In investing we are looking for power-law returns, the small bets that we can return exponential value.Our guest today is an investor who has seen some amazing choices turn into huge returns and even better stories to teach and entertain us. Alexander Niehenke is a Partner at Scale Venture Partners where he specializes in Vertical SaaS investing.And John Ruffolo is back to talk about the news!About Alexander Neihenke:Alex Neihenke is a Partner at Scale Venture Partners since 2017. He has focused on early investments in vertical software markets where incumbents have failed to invest in advanced technology offerings. That thesis has led to investments in Archipelago, Dusty Robotics, Motive formally KeepTruckin, Root Insurance, Scout RFP, Spruce, Proscia, and Proxy. Motive has been one of the fastest growing SaaS companies of all time; Scout RFP was acquired by Workday in late 2019 for $540M; and Root completed its IPO in late 2020.He received his bachelor’s from UC Berkeley.In this episode we discuss:(0:00:56) News rundown with John Ruffolo(0:16:27) Alexander’s path to becoming an investor(0:18:45) The effect of watching his dad work so hard(0:20:50) Alex’s experience working in the banking industry(0:24:31) How the experience at Crosslink Capital shaped his career(0:25:56) His role advising Dollar Shave Club(0:28:08) On investing in friends(0:29:46) Joining Scale Venture Partners in 2013(0:32:17) How he focused on Vertical SaaS(0:35:23) Alex’s definition of Vertical SaaS(0:36:20) Misconceptions around Vertical SaaS(0:38:11) Why there’s a misunderstanding around TAM(0:40:08) Case studies around misaligned TAM(0:44:04) Lessons from his investment in Root Insurance(0:48:59) How Scale’s outlook has evolved over the last few years(0:52:06) Why Alex invested in Ripple Portfolio company Rose Rocket(0:54:30) Rules he lives by when joining a new board(0:57:29) What makes a good board member(1:00:00) Why Alex writes about industries prior to investing in them(1:02:52) Thoughts on the AI investing craze(1:05:47) Using data to analyze massive volumes of startups and their success(1:09:16) What would he be doing if he wasn’t an investorFast Favorites:* 🎙- Favorite Podcast: I’ll Drink To That* 📰- Favorite Newsletter / Blog: Scale Studio Flash Updates* 📲- Favorite Tech Gadget: Pokeball* 📈-  Favorite New Trend: 90’s Fashion, Open Water Swimming* 📚- Favorite Book: Catch-22* 🤔 - Favorite Life Lesson: Find humor in thingsFollow Matt Cohen and Tank Talks here!Podcast production support provided by Agentbee.ai This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit tanktalks.substack.com

Liquidity for investing in Venture Capital has been a recurring topic lately. Outsized rewards from investing in early-stage companies come when you hold until an IPO or other liquidity event. But life happens and that sometimes requires LPs to sell early and as more retail investors look into becoming Venture Investors, new ways to find liquidity will become the norm.Our guest today is an expert in secondary markets for LPs, a friend of the Pod Jeff Leathers, Co-Founder and CEO of Tap, a platform designed to help facilitate secondary market sales for LP stakes in PE and Venture Capital funds.About Jeff Leathers:Jeff Leathers is the Co-Founder and CEO of Tap. Before Tap, Jeff started and led the SPV and Fund Formations businesses at Carta. He previously held Product roles at fintech companies, including Quovo (acquired by Plaid) and Bloomberg. He received his MBA from Wharton.In this episode we discuss:(01:42) Jeff’s career and journey to Co-Founding Tap(04:03) Problems he helped GPs and LPs solve while at Carta(06:23) Why he went out and founded Tap(08:21) Differences between LP secondaries and direct secondaries(10:14) Why the time is right for more secondary markets for LPs(11:55) Problems that can occur in secondary markets(14:17) Why GPs can be resistant to secondary markets(15:29) How Tap’s approach is different in the market(17:56) What are stapled transactions(18:37) Defining industry terms like tender offers, continuation, and vehicles(21:45) Making sure deals comply with regulations(23:58) What Jeff is seeing in the market right now(26:47) What’s driving the secondary market(27:45) The biggest challenges for Tap and secondary markets(30:21) What secondary buyers are looking for(34:22) The role of technology in secondary markets(37:15) Tap’s business model(39:40) Advice to LPs and GPs looking at the secondary market(41:03) Jeff’s vision for the secondary market’s futureFast Favorites:* 🎙- Favorite Podcast: Capital Allocators* 📰- Favorite Newsletter / Blog: Money Stuff* 📲- Favorite Tech Gadget: Airpods* 📈-  Favorite New Trend: AI, AskPDF* 📚- Favorite Book: The Years of Lyndon Johnson* 🤔 - Favorite Life Lesson: We just got to do everything and have faith that you will win.Follow Matt Cohen and Tank Talks here!Podcast production support provided by Agentbee.ai This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit tanktalks.substack.com

John is back! And here’s the news that he and Matt discussed:(00:21) The loss of Damien Steel at OMERS(03:38) Who will fill the void left by OMERS(05:06) Tiger Global’s mysterious liquidity memo(09:08) The importance of a long-term view of relationships with LPs(10:49) ChatGPT Enterprise(13:57) With Kleenex leaving Canada, why is it so hard for US-companies to service us?Follow Matt Cohen and Tank Talks here!Podcast production support provided by Agentbee.ai This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit tanktalks.substack.com

Want to be featured on our Tank Talks Partner Showcase Episode - Apply Here!A word from our sponsor:The team at Ripple is always focused on helping our founders and portfolio companies find the best partners to work with within the tech and venture capital ecosystem. And that is why we are so excited to announce our partnership with the incredible team at Torys LLP. When it comes to legal support and advice, the team at Torys is the best in class. Torys is a storied Canadian law firm with offices in Toronto, Montreal, Calgary, Halifax and New York City. Torys has been around since its founding in 1941.They have always worked closely with players across the emerging startup ecosystem in all aspects of the creation, acquisition and commercialization of businesses. They help founders determine when and how much to fundraise, how to achieve the right economic structure, how to think about board and control issues and how to successfully navigate different stages of growth. They are also advisors to VC funds, strategic investors, private equity funds and other institutional investors on fund formation and shareholder arrangements to buyouts and other exits.In fact, Torys recently acted as counsel to Maverix PE on the transformative $260M  Miovision Technologies growth funding with an advisory team that included Dany Assaf, Konata Lake and Max Schwartz-Labell on that investment.So whether you are negotiating a new business arrangement or developing a new service offering, Torys helps clients seize new opportunities and build creative, market-leading business models in this fast-paced world we live in every day space.Matt Cohen sat down with Konata Lake from the firm to talk about their background and services.Visit torys.com to learn more.Follow Matt Cohen and Tank Talks here!Podcast production support provided by Agentbee.ai This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit tanktalks.substack.com

There’s a lot of talk about supporting underrepresented emerging managers and founders in the startup space, and it’s refreshing to speak with someone that’s moving beyond talk into action. Our guest today is Courtney McCrea, Co-Founder and Managing Partner of Recast Capital, a platform supporting and investing in emerging managers in VC. Recast is investing that emerging managers, particularly those with diverse partnerships, that represent both an underserved market and overlooked business opportunity, and is taking a new approach to meeting the need.This was a great conversation where we talked about the state of the market, why diversity is more than just window dressing, as well as the challenges women and underrepresented GPs face in raising venture funds and how Recast Accelerate is making a difference.Also John Ruffolo is back to talk tech headlines with Matt Cohen.About Courtney McCrae:Courtney is Co-Founder and Managing Partner of Recast Capital, an investment platform established to invest in and support emerging managers in venture capital, with a preference for diverse partnerships.Prior to co-founding Recast, Courtney was a Managing Director of Weathergage Capital, a fund of funds that provided its clients with access to premier venture capital, growth equity, and micro-VC partnerships. She also was involved in various private equity and finance roles at Weston Presidio, Silver Partners, Sterling Stamos, PPM America, and GE Capital.Courtney has an M.B.A. from the Kellogg Graduate School of Management and a B.A. from the University of Illinois, Champaign-Urbana. She is a member of the Kauffman Fellows Class 3.In this episode we discuss:(01:13) News rundown with John Ruffolo(18:38) Courtney McCrea’s journey to becoming an investor(20:43) How Weathergauge supprt of emerging managers evolved(22:07) Why emerging managers can outperform established managers(24:06) The decision to launch Recast(27:27) DEI stats for venture were and how is it starting to change(29:50) Early successes for Recast(32:10) How she evaluates potential managers(34:17) Advice she gives to her managers(36:10) What LPs are thinking about in the current market(41:42) Explaining risk and mitigation to her LPs(44:35) How the growth-quity landscape has evolved(46:40) What type of reporting and communication she likes to see(47:46) Advice to new investors looking to get into venture(49:46) The best career advice she’s received(50:43) What keeps Courtney motivatedFast Favorites:* 🎙- Favorite Podcast: Tank Talks* 📰- Favorite Newsletter / Blog: Recast Newsletter* 📲- Favorite Tech Gadget: iPhone* 📈-  Favorite New Trend: Technology disrupting legacy industries* 📚- Favorite Book: Grit* 🤔 - Favorite Life Lesson: Be your true self and the rest will come.Follow Matt Cohen and Tank Talks here!Podcast production support provided by Agentbee.ai This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit tanktalks.substack.com

Sales and RevOps are the lifeblood of successful startups (and companies in general), and because of that high-stakes nature, there is a lot of fear and confusion on how to set up and run a sales process in the best way. Our guest today is an expert on the RevOps experience, Tutt Mrasek of Fiat RevOps, who has a nearly two-decade career building and guiding companies through creating sales pipelines. And now his company Fiat is also getting into VC investing with Fiat Ventures.Tutt is a fun person to talk to about all things sales, bringing enthusiasm, charm, and insight to the hows and whats of the sales process.About Tutt Mrasek:Tutt Mrasek is the General Manager of Fiat RevOps, the revenue operations and sales consulting arm of Fiat Growth. Fiat RevOps was founded to help Sales Leaders, Sales Teams, and their companies get a more productive, happier, and healthier outcome while building for the future. With a career spanning 18+ years of having built Sales Orgs, three of which created category leaders, Tutt has seen firsthand the steps to success and failure that companies take.In this episode we discuss:(01:33) Tutt’s journey into sales and RevOps(06:43) Falling in love with the grind of sales(08:54) Defining traits of successful sales organizations(10:11) How Fiat RevOps works(11:31) How Tutt defines RevOps(16:26) Why companies need better sales infrastructure sooner than they realize(18:30) What can be done to encourage retention and career growth amongst sales teams(23:49) Some success case studies from Fiat RevOps(28:23) Commons sales issues with startups(31:51) Key components to a successful sales funnel(34:14) Leveling up your sales team(37:32) Shared mindsets that are helpful to grow sales teams(41:23) Coaching strategies and development frameworks for scaling a team(43:08) Dealing with company leadership that is focused on the wrong mindset(45:45) How Fiat Ventures, Fiat Growth, and Fiat RevOps work togetherFast Favorites:* 🎙- Favorite Podcast: Tank Talks / Armchair Expert* 📰- Favorite Newsletter / Blog: RevOps Co-op* 📲- Favorite Tech Gadget: Anything AI right now* 📈-  Favorite New Trend: Oversized Everything Clothing - Hilarious* 📚- Favorite Book: The Second Mountain * 🤔 - Favorite Life Lesson: Don't have unrealistic Expectations & My empathy will go as far as your effortFollow Matt Cohen and Tank Talks here!Podcast production support provided by Agentbee.ai This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit tanktalks.substack.com