The Startup CPG Podcast

In this episode of the Startup CPG Podcast, host Hannah Dittman sits down with Brian Bustamante-Nicholson, a partner at Greycroft in the consumer brands vertical, to explore what growth-stage investors actually look for in consumer businesses—and how founders can build with intention from day one.Brian has spent 15 years working alongside founders building consumer businesses, developing a sharp lens for what actually drives durable growth versus what just looks good in a pitch deck. His experience spans deep e-commerce knowledge and evaluating brands at the earliest stages through to scale, giving him a practical, operator-minded view of how products, teams, and metrics evolve over time. At Greycroft, Brian leads a separate consumer investment strategy alongside founding entrepreneurs Catherine Power (Avaline, Burst, Merit) and Eric Ryan (Method, Olly), investing in exceptional growth-stage consumer businesses at inflection points—typically $5-15M in revenue with strong product-market fit signals.Throughout the conversation, Brian shares the core pillars he looks at during diligence (velocities, cohort behavior, repeat purchase rate, unit economics, margin structure), why capital efficiency matters more than flashy growth, and how strategics evaluate businesses the same way investors do—making gamesmanship around metrics a losing strategy. He discusses lessons learned from standout portfolio companies like Array (anti-aging hair care), what strong founders consistently get right for long-term success, and how to think about building real defensibility as you grow—particularly the importance of retail distribution as a moat in oversaturated categories like health and wellness, skincare, and beverage.Brian also shares his perspective on how AI is beginning to meaningfully show up in the consumer space through agentic commerce (AI agents shopping on consumers' behalf), why building digital footprints and distribution today will benefit brands tomorrow, and why being a first adopter in platform shifts creates outsized advantages through better marketplace economics. Whether you're navigating business decisions or fundraising conversations, this episode offers grounded, thoughtful insights on how investors evaluate consumer businesses and what it takes to build enduring brands that compound over time.Listen in as they discuss:Brian's background: 15 years investing from Stripes Group to Sonoma Brands to Greycroft's consumer strategyWhat Greycroft looks for: $5-15M revenue, strong product-market fit, unit economics, margin structurePortfolio case study: Array anti-aging hair care and investing at inflection pointsWhy capital efficiency matters: strategics see through gamesmanship around margins and growthRetail distribution as a moat: differentiation in oversaturated digital-native categoriesHow AI is changing commerce: agentic shopping and building trust with AI agents through reviews and digital footprintsLessons learned: patience, concentrated strategies, and building enduring businesses with strong fundamentalsFundraising process: relationship-building timelines and how many meetings before closing dealsEpisode Links:Brian Bustamante-Nicholson - Partner, Greycroft LinkedIn: https://www.linkedin.com/in/brian-b-nicholson-a813372/Greycroft Website: https://www.greycroft.com LinkedIn: https://www.linkedin.com/company/greycroft-partners/Don't forget to leave a five-star review on Apple Podcasts or Spotify if you enjoyed this episode. For potential sponsorship opportunities or to join the Startup CPG community, visit http://www.startupcpg.comShow Links:Transcripts of each episode are available on the Transistor platform that hosts our podcast here (click on the episode and toggle to “Transcript” at the top)Join the Startup CPG Slack community (30K+ members and growing!)Follow @startupcpgVisit host Hannah's Linkedin Questions or comments about the episode? Email Daniel at podcast@startupcpg.comEpisode music by Super Fantastics

In this episode of the Startup CPG Podcast, Caitlin Bricker welcomes Alan Scholnick, founder and CEO of Datefix, for a thoughtful conversation on innovation, wellness, and entrepreneurship in the food industry. Alan shares how his journey from real estate and private aviation to launching a natural food brand was driven by a passion for fitness and clean nutrition.Alan discusses the inspiration behind Datefix—a simple yet powerful concept that turns one of nature’s oldest fruits, the date, into a convenient, portable energy source. He explains how Datefix bridges the gap between health, flavor, and functionality, serving as both a nutritious snack and a reliable fuel for athletes and busy professionals alike.They also delve into the nutritional science and versatility of dates, exploring their role as a low-glycemic, fiber-rich source of sustained energy. Alan also reflects on the brand’s authentic approach to marketing and consumer education, emphasizing humor, transparency, and a commitment to bringing natural foods back to the forefront of modern wellness.You will also hear about Datefix’s growing community—from marathon runners to individuals managing diabetes—who have made the product a trusted part of their daily lives.Tune in to learn how Datefix is redefining healthy snacking by combining simplicity, authenticity, and purpose.Listen in as they share about:Origins and Concept of DatefixHealth and Nutrition BenefitsSustainability and Zero-Waste InnovationCustomer Stories and Community ImpactRetail Growth and Brand PositioningCultural Shift Toward Real FoodCommunity and DistributionEpisode Links:Website: https://datefix.com/ LinkedIn: https://www.linkedin.com/in/alan-scholnick-70a7061b5/ Don't forget to leave a five-star review on Apple Podcasts or Spotify if you enjoyed this episode. For potential sponsorship opportunities or to join the Startup CPG community, visit http://www.startupcpg.com.Show Links:Transcripts of each episode are available on the Transistor platform that hosts our podcast here (click on the episode and toggle to “Transcript” at the top)Join the Startup CPG Slack community (20K+ members and growing!)Follow @startupcpgVisit host Caitlin's Linkedin Questions or comments about the episode? Email Daniel at podcast@startupcpg.comEpisode music by Super Fantastics

In this episode of the Startup CPG Podcast, host Daniel Scharff sits down with Adam O'Connor, founder of Smidge Beverage—a lightly boozy 2.5% ABV vodka soda—and Josh Fischer, VP of Product at Cin7, to explore how early-stage founders can build scalable operations systems that support growth without breaking as they scale.Adam shares his journey launching Smidge Beverage, a premium low-alcohol vodka soda brand in Arizona, starting with self-distribution before transitioning to third-party distributors. With a finance and supply chain background, Adam knew from day one that having proper systems in place—particularly inventory management—would be critical to scaling efficiently. He implemented Cin7 pre-revenue, recognizing that without an end-to-end system to track inventory, lot codes, expiration dates, and invoicing, operations would quickly become unsustainable as the business grew.Throughout the conversation, Adam discusses the realities of self-distribution in the alcohol industry (navigating three-tier systems, building retailer relationships, delivering and merchandising products himself), why he chose to invest in inventory management before his first production run, and how systems like Cin7 allowed him to focus on growing the business rather than manually tracking ingredients and managing spreadsheets. Josh provides the Cin7 perspective on what founders need to know about inventory management, why the transition from "brand builder" to "operations economist" typically happens around the 12-month mark, and how proper systems enable better inventory forecasting, sales channel expansion, and warehouse efficiency.Whether you're launching a CPG brand, scaling self-distribution, or wondering when to implement proper back-office systems, this conversation offers honest lessons on why getting infrastructure right early matters, how to avoid common pitfalls when implementing inventory management software, and why founders who prioritize operations alongside brand-building are better positioned for sustainable growth.Listen in as they discuss:Adam's journey: finance background in wine and spirits, launching Smidge Beverage (2.35% ABV vodka soda)Implementing Cin7 inventory management pre-revenue: why systems matter from day oneSelf-distribution realities: navigating three-tier alcohol systems and building retailer relationshipsWhen to transition from self-distribution to third-party distributorsThe three stages of CPG growth: inventory forecasting, sales expansion, operations efficiencyWhy founders shift from "brand builder" to "operations economist" around 12 monthsSetting up SKUs, lot codes, expiration tracking, and integrations (QuickBooks, Shopify, EDI)Tips for implementation: focused onboarding, outsource accounting, learn systematicallyKey CPG tech stack: inventory management, accounting, Shopify/EDIEpisode Links:Cin7:Get 50% off your first 3 months: https://bit.ly/458bcCYLinkedin: https://www.linkedin.com/company/cin7/ Instagram: https://www.instagram.com/cin7online/?hl=en Josh Fischer - VP of Product, Cin7 LinkedIn: https://www.linkedin.com/in/joshcfischer/ Smidge Beverage: Website: https://www.smidgebeverage.com/LinkedIn: https://www.linkedin.com/company/smidge-beverage/ Instagram: https://www.instagram.com/smidgebeverage/?hl=enAdam O'Connor - Founder, Smidge Beverage LinkedIn: https://www.linkedin.com/in/adamoconnor-8519201b7/Don't forget to leave a five-star review on Apple Podcasts or Spotify if you enjoyed this episode. For potential sponsorship opportunities or to join the Startup CPG community, visit http://www.startupcpg.com. Show Links:Transcripts of each episode are available on the Transistor platform that hosts our podcast here (click on the episode and toggle to “Transcript” at the top)Join the Startup CPG Slack community (30K+ members and growing!)Follow @startupcpgVisit host Daniel's Linkedin Questions or comments about the episode? Email Daniel at podcast@startupcpg.comEpisode music by Super Fantastics

In this episode of the Startup CPG Podcast, host Hannah Dittman sits down with Josh Wand and Sean Kelly, General Partners at the Family Fund, to explore what founders actually need to understand when navigating fundraising. The Family Fund is a deeply community-driven investment firm built by former founders who believe the best companies are built through trust, transparency, and long-term partnership.Josh and Sean bring decades of firsthand entrepreneurial experience and an incredibly deep operator and founder network, which gives them a uniquely practical, grounded perspective on investing at the earliest stages. Throughout the conversation, they unpack why asking the right questions matters just as much as having the right answers, how to truly understand deal terms and power dynamics, and why knowing an investor's focus, incentives, and target stage is critical before bringing them onto your cap table.The conversation covers the traits that consistently show up in great founders, the difference between early-stage problems (product-market fit, customer love) versus later-stage challenges (team scaling, professionalism, organizational structure), and how to think about alignment as your company grows. Josh and Sean also emphasize the importance of researching investors the same way you would research retail buyers—understanding their allocation strategy, stage focus, and whether they actually invest in your specific vertical and company size before pitching.Throughout the episode, listeners gain tactical insights on essential questions to ask investors (like "walk me through a time one of your investments struggled and how you showed up"), why raising at too high a valuation can backfire and limit future funding options, critical deal terms to watch out for (liquidation preferences, redemption rights, founder vesting resets), and why founders should optimize for the next five years—not just winning the current round. Whether you're preparing for your first institutional fundraise or evaluating investor partners for a growth round, this conversation offers honest, hard-won insights from two investors who have been in the founder seat themselves.Listen in as they discuss:Josh and Sean's backgrounds: 20+ years as entrepreneurs before co-founding Family Fund in 2022What Family Fund is: Early stage investor ($1-5M checks) with 60%+ founder and CEO LPsHow fund cycles work and what Fund 1 vs. Fund 2 means for foundersWhy researching investors matters: treating it like researching retail buyers at TargetEssential questions founders should ask investors before accepting capitalUnderstanding critical deal terms: liquidation preferences, redemption rights, and founder vesting resetsWhy raising at too high a valuation backfires and limits future funding optionsTraits of great founders and early-stage vs. growth-stage problem differencesWhy the best founders optimize for the next 5 years—not just winning the current roundFounderland 2026: Family Fund's annual gathering of 7,800+ founders, retailers, and strategicsEpisode Links:Website: https://www.humblegrowth.com/Personal LinkedIn: https://www.linkedin.com/in/nick-giannuzzi-6a550b14b/Company LinkedIn: https://www.linkedin.com/company/humblegrowth.com/ Don't forget to leave a five-star review on Apple Podcasts or Spotify if you enjoyed this episode. For potential sponsorship opportunities or to join the Startup CPG community, visit http://www.startupcpg.comShow Links:Transcripts of each episode are available on the Transistor platform that hosts our podcast here (click on the episode and toggle to “Transcript” at the top)Join the Startup CPG Slack community (30K+ members and growing!)Follow @startupcpgVisit host Hannah's Linkedin Questions or comments about the episode? Email Daniel at podcast@startupcpg.comEpisode music by Super Fantastics

In this episode of the Startup CPG Podcast, Caitlin Bricker welcomes Houston Buehrle, founder of Little Zing, a premium mustard brand rooted in a century-old Danish family recipe. Houston shares how he transformed his great-grandmother’s handcrafted condiment into a fast-emerging brand in the CPG space, known for its clean ingredients, distinctive flavor, and standout branding.Throughout the conversation, Houston discusses his commitment to ingredient integrity, his approach to product innovation, and the importance of authentic storytelling in building consumer trust. He also reflects on lessons learned from his previous venture, Bindle Bottle, and how resilience and creativity guided him toward launching Little Zing.Listeners will gain insights into grassroots brand building, the value of community-driven growth through farmers markets, and how platforms like TikTok Live are reshaping direct-to-consumer engagement. Houston also offers a preview of Little Zing’s upcoming garlic miso flavor, designed to expand the brand’s reach while staying true to its original ethos.Tune in to learn how Houston Buehrle turned a family legacy into a modern, purpose-driven brand.Listen in as they share about:The Origin of Little ZingProduct DevelopmentBranding, Packaging & DifferentiationRetail Strategy & Market GrowthThe CPG and Condiment LandscapeSampling & CollaborationsMarketing & TikTok Live StrategyCollaborations & Future VisionEpisode Links:Website: https://littlezing.com/LinkedIn: https://www.linkedin.com/in/houston-max-buehrle-40043a36/ Don't forget to leave a five-star review on Apple Podcasts or Spotify if you enjoyed this episode. For potential sponsorship opportunities or to join the Startup CPG community, visit http://www.startupcpg.com.Show Links:Transcripts of each episode are available on the Transistor platform that hosts our podcast here (click on the episode and toggle to “Transcript” at the top)Join the Startup CPG Slack community (20K+ members and growing!)Follow @startupcpgVisit host Caitlin's Linkedin Questions or comments about the episode? Email Daniel at podcast@startupcpg.comEpisode music by Super Fantastics

Michael Brandt, founder and CEO of Ketone IQ, built a ketone-based energy brand that secured DoD research, major retail deals, and strong revenue. He explains what ketones are and how they differ from caffeine. He recounts early product hurdles, DTC-first education tactics that fueled retail, trial-driving QR demos, and the strategic moves behind scaling and building category moats.

In this episode of the Startup CPG Podcast, host Hannah Dittman sits down with Matt Craighead, R&D Manager at Trubar, to explore the real product development process—from initial concept and benchtop formulation to scaled production and everything in between. Matt brings a rare blend of technical depth, operator empathy, and practical insights to what is often the most misunderstood part of the CPG journey: how products actually get created.Matt shares how Trubar approaches R&D for their vegan, gluten-free, soy-free protein bars with no sugar alcohols, artificial sweeteners, or seed oils—navigating the complexities of formulation, ingredient sourcing, co-manufacturer partnerships, and scaling from home kitchen trials to commercial production. The conversation reveals the unglamorous realities of product development: why some projects take 2-4 months while others stretch to 8+ months, the critical importance of manufacturability over pure flavor perfection, and how small decisions like mixing order, line speed, or ingredient supplier changes can make or break a product.Throughout the episode, listeners gain tactical insights on managing the R&D process with project briefs and clear timelines, why formula changes should always be the last resort when troubleshooting production issues, how to balance perfection with the 80/20 principle when bringing products to market, and the often-overlooked factors like water activity, allergen control, and equipment compatibility that determine whether a product can actually be manufactured at scale. Matt also discusses when it makes sense to bring R&D in-house versus outsourcing to co-manufacturers, how to navigate SKU proliferation as brands grow, and why communication and planning ahead are non-negotiable for R&D success.Whether you're launching your first product, scaling formulations from benchtop to commercial production, or troubleshooting manufacturing challenges, this conversation offers honest lessons on what separates successful product development from costly failures—and why R&D is where everything starts.Listen in as they discuss:Matt's background: 8 years in R&D and co-manufacturing, now leading R&D at TrubarWhat Trubar is: vegan protein bars with no seed oils, sugar alcohols, or artificial sweetenersThe R&D process timeline: 2-4 months for formulation, up to 1-2 years for full commercializationMajor R&D milestones: concept, benchtop trials, ingredient sourcing, line trials, and scaled productionWhy manufacturability matters as much as flavor: the honey formulation cautionary taleThe 80/20 mindset: balancing perfection with getting products to marketWhat makes R&D go well: planning ahead, communication, and documentationCommon pitfalls: focusing too much on functionality without considering production realitiesWhy formula changes should be the last resort when troubleshooting production issuesSmall decisions with big impacts: mixing order, line speed, cooling tunnel capacity, and temperatureIngredient supplier changes and how protein powder sources affect finished productsManaging the cross-functional dance: R&D, packaging, marketing, and timeline constraintsWhen to bring R&D in-house vs. outsourcing to co-manufacturersChoosing the right co-manufacturer: communication, food safety, allergen control, and equipmentHow to manage custom formulation processes with co-manufacturersSKU rollout strategy: starting with 2-4 core flavors and expanding with seasonalsProject briefs as the foundation: flavor profile, timeline, cost targets, and macro goalsWhy water activity and allergen control are critical for ready-to-eat barsThe importance of process control documentation and detailed production notesEpisode Links:Trubar Website: https://www.trubarinc.com Instagram: @trubar.brands LinkedIn: https://www.linkedin.com/company/trubarMatt Craighead - R&D Manager, Trubar LinkedIn: [Matt's LinkedIn URL]Don't forget to leave a five-star review on Apple Podcasts or Spotify if you enjoyed this episode. For potential sponsorship opportunities or to join the Startup CPG community, visit http://www.startupcpg.com.Show Links:Transcripts of each episode are available on the Transistor platform that hosts our podcast here (click on the episode and toggle to “Transcript” at the top)Join the Startup CPG Slack community (30K+ members and growing!)Follow @startupcpgVisit host Hannah's Linkedin Questions or comments about the episode? Email Daniel at podcast@startupcpg.comEpisode music by Super Fantastics

In this episode of the Startup CPG Podcast, host Caitlin Bricker sits down with Stephanie McGregor, founder of Ringa—a moringa and apple cider vinegar infused beverage with no added sugar, no sugar substitutes, and no natural flavors. After 20 years as an operator in food and beverage working on brands like Red Bull, Glacéau Vitaminwater, and others, Stephanie was ready to leave the industry until an Airbnb host in Baja, Mexico wouldn't stop talking about the moringa tree growing on her property.Stephanie shares her journey from winding down a previous company in 2022 to launching Ringa as a mission-driven brand committed to radical ingredient transparency. The conversation explores the decision-making behind formulating with only real, pronounceable ingredients—from organic moringa tea and raw apple cider vinegar to real cucumber juice and ginger—and why "unapologetically tart" is both a product philosophy and a long-game strategy in a market addicted to sugar.Throughout the episode, Stephanie discusses the challenges of educating consumers about what "natural flavors" really means (and what manufacturers aren't telling you), why microdosing moringa in a delicious format beats the "plug your nose and gulp it down" supplement approach, and how Ringa landed a feature in Whole Foods' 2026 trend report predicting vinegar as the next big functional ingredient. She also shares her experience as a self-proclaimed "Startup CPG groupie," attending nearly every Grocery Run and trade show opportunity to accelerate retailer discovery at a fraction of traditional costs.Whether you're launching a better-for-you beverage, navigating ingredient sourcing for functional foods, or building a self-funded brand with operator experience, this conversation offers honest lessons on playing the long game, learning to say no, staying patient while trends catch up, and building extreme loyalty over viral growth.Listen in as they discuss:Stephanie's 20-year operator background: Red Bull, Vitaminwater, and winding down a business in 2022The Baja, Mexico Airbnb moment that introduced Stephanie to moringa and inspired RingaWhat moringa is: a complete plant protein with all nine essential amino acids, drought-tolerant, and nutrient-denseThe decision to formulate with no added sugar, no sugar substitutes, and no natural flavorsWhy "natural flavors" aren't always natural—and how proprietary blends hide ingredient transparencyThe philosophy of being "unapologetically tart" and playing the long game on consumer taste educationHow real cucumber juice creates a completely different flavor experience than cucumber "natural flavor"Microdosing moringa: making functional ingredients delicious and palatable for daily consumptionLanding in Whole Foods' 2026 trend report: vinegar as the "OG functional food"Why fiber is the macro people actually need (90% of us don't get enough)Attending every Startup CPG Grocery Run event: accelerating retailer discovery at a fraction of trade show costsOperator advice: learning to say no, staying nimble, and building a good business over chasing hockey stick growthWhy going slow and building loyalty beats viral growth for long-term brand successEpisode Links:Website: https://www.drinkringa.com Instagram: https://www.instagram.com/drinkringa/ Stephanie McGregor - Founder, Ringa LinkedIn: https://www.linkedin.com/in/stephanieleemcgregor/Don't forget to leave a five-star review on Apple Podcasts or Spotify if you enjoyed this episode. For potential sponsorship opportunities or to join the Startup CPG community, visit http://www.startupcpg.com.Show Links:Transcripts of each episode are available on the Transistor platform that hosts our podcast here (click on the episode and toggle to “Transcript” at the top)Join the Startup CPG Slack community (30K+ members and growing!)Follow @startupcpgVisit host Caitlin's Linkedin Questions or comments about the episode? Email Daniel at podcast@startupcpg.comEpisode music by Super Fantastics

Amna Mettmann, founder of the premium craft soda brand Brause, reveals how her brand used Grocery Run events as a launching pad, closing deals with retailers like Woodland Markets right after launching on Shopify. Jocelyn Ramirez, founder of Todo Verde, shares her exhilarating experience winning the Fresh Thyme Market pitch slam, emphasizing the power of authentic storytelling in capturing buyer interest. Both highlight the importance of community support and the unique, efficient networking opportunities provided by Grocery Run events.

In this episode of the Startup CPG Podcast, host Hannah Dittman sits down with Alex Borschow, Managing Partner at Rocana Ventures, to explore what Series A investors actually look for in consumer brands. The conversation dives deep into defining product-market fit, understanding traction metrics across channels, and why thoughtful, mission-driven capital matters for building sustainable CPG brands.Alex shares how Rocana Ventures approaches Series A investments ($7-25M revenue) with a focus on authentic better-for-you brands, omnichannel traction, and strong unit economics. He discusses the importance of evaluating velocity metrics in retail, repeat purchase rates in DTC, and why Amazon rankings and reviews are critical indicators of consumer adoption. Drawing from portfolio successes like Olipop, Alex reveals what separates compelling investment opportunities from brands that aren't quite ready—and how founders can position themselves for success before they start raising capital.Throughout the episode, listeners gain insider perspective on investor-founder dynamics, the traits that define resilient leadership, and practical benchmarks for DTC retention (30-60% vs. outdated 10-12% standards), retail velocities (units per SKU per store per week), and club channel performance. Alex also emphasizes why not every metric has to be perfect to raise capital—but founders must demonstrate accountability, self-awareness, and a clear roadmap for addressing gaps. Whether you're building toward Series A or evaluating your first institutional round, this conversation offers clarity on what matters most when building a fundable, mission-driven CPG brand.Listen in as they discuss:How Rocana Ventures evaluates Series A brands ($7-25M revenue, omnichannel traction)What product-market fit looks like across DTC, Amazon, retail, and club channelsWhy repeat purchase rates and customer retention define long-term brand valueUnderstanding retail velocity metrics: units per SKU per store per weekThe importance of baseline velocity increases post-promo in retailDTC metrics evolution: from LTV/CAC to payback periods and 30-60% retention benchmarksAmazon rankings, reviews, and ROAS as critical indicators of consumer adoptionClub channel dynamics: Costco roadshows, rotation benchmarks, and chunky POsWhy household penetration and unaided brand awareness matter at scale ($50M+)Founder traits that matter most: humility, accountability, coachability, and transparencyThe postmortem mindset: learning from failure and embracing dissonanceWhy Rocana's 60%+ strategic LP base creates differentiated value beyond capitalHow to choose the right investment partner and build relationships before fundraisingRed flags vs. green flags: confirmation bias, honesty, and addressing weak metricsEmerging opportunities Rocana is excited about in better-for-you consumerEpisode Links:Rocana Ventures Website: https://www.rocanaventures.com LinkedIn: https://www.linkedin.com/company/rocanaventuresAlex Borschow - General Partner, Rocana Ventures LinkedIn: https://www.linkedin.com/in/alexborschow/Don't forget to leave a five-star review on Apple Podcasts or Spotify if you enjoyed this episode. For potential sponsorship opportunities or to join the Startup CPG community, visit http://www.startupcpg.comShow Links:Transcripts of each episode are available on the Transistor platform that hosts our podcast here (click on the episode and toggle to “Transcript” at the top)Join the Startup CPG Slack community (30K+ members and growing!)Follow @startupcpgVisit host Hannah's Linkedin Questions or comments about the episode? Email Daniel at podcast@startupcpg.comEpisode music by Super Fantastics