Lay of The Land #244 Will Zell (Vessel) — Empowering Founders and Democratizing VC in Ohio
Will Zell — Founder and Managing Partner of Vessel, founding CEO and now Executive Chair of AssetWatch, and a leading voice in rethinking how venture capital works across Ohio.
Will’s path into technology and venture isn’t conventional. He grew up — and still lives — in Bellefontaine, Ohio. At 17, he ran for city council under the slogan “A Voice for the Future.” He spent time in ministry, built a real estate portfolio during the financial crisis, and ultimately found his way into technology startups — learning firsthand what it means to raise capital in a state that consistently punches below its weight in venture investment. After early startup failures, Will co-founded what became AssetWatch, a predictive maintenance platform serving global manufacturers. The company has since raised more than $100 million in venture capital and scaled into a high-growth industrial technology business employing hundreds.
But perhaps more interesting than breaking through Ohio’s capital gap is Will’s effort to redesign it. In 2020, he founded Vessel — a diversified venture platform focused on investing in and building category-defining companies in Middle America. Through Vessel and the Ohio Angel Collective, Will is working to expand access to early-stage capital, grow the top of Ohio’s innovation funnel, and shift the ecosystem from scarcity to abundance.
In our conversation, we unpack:
- The structural capital gap facing Ohio founders
- What it took to navigate AssetWatch through near-zero runway moments
- Why democratizing venture access matters
- How to build a multi-stage venture platform outside the coasts
- And what it would mean for Ohio to invest in innovation proportionally to the size of its economy
This is a conversation about capital formation, ecosystem design, and the long-term work required to build a venture-backed innovation economy in Ohio.
00:00:00 Introduction & Show Disclaimer
00:00:58 Will Zell’s Background & Early Influences
00:04:26 Path to Entrepreneurship & Community Impact
00:11:11 Transition from Curiosity to Entrepreneurship
00:13:03 Early Business Ventures & Real Estate
00:20:01 Entry into Technology Startups
00:22:01First Tech Swings & Lessons Learned
00:25:58 The Ohio Capital Gap
00:31:08 Breaking Through with AssetWatch
00:36:59 AssetWatch Product & Impact
00:40:22 Transition to Vessel & Venture Capital Access
00:45:34 Vessel’s Mission & Structure
00:49:07 Goals for Success & Midwest Venture Landscape
00:55:16 Power of Community & Culture Change
01:00:25 What's Next: Curiosity and Culture Change
01:04:35 Founders, Opportunity, and Encouragement
01:06:08 Bellefontaine Highlights & Closing
01:08:39 Farewell & Closing Credits
-----
LINKS:
https://www.linkedin.com/in/willzell/
https://www.ohioangelcollective.com/
https://buildvessel.com/
https://spiltsocial.com/
-----
SPONSOR:
Cerity Partners
Cerity Partners, a full-service investment and wealth management firm serving high-net-worth individuals, entrepreneurs, and business owners, is proud to sponsor Lay of The Land. The firm has local roots in Cleveland and across Ohio, and like this podcast, Cerity Partners advisors specialize in serving the interests of local entrepreneurs and business leaders. They understand how to manage the total picture of wealth, both personal and professional. Cerity Partners has a unified team of specialists who collaborate on almost every aspect of a client’s financial life, including business ownership. The firm’s national presence means it can offer the resources and specialized knowledge of the largest institutions with the independence and service of a neighbor. The Cerity Partners Cleveland team understands the complexity that comes with wealth, and they adhere to fiduciary standards. Discover the financial lay of your land.
Learn more at ceritypartners.com/NPR or call 216-464-6266.
Roundstone Insurance
Roundstone Insurance is proud to sponsor Lay of The Land. Founder and CEO, Michael Schroeder, has committed full-year support for the podcast, recognizing its alignment with the company’s passion for entrepreneurship, innovation, and community leadership.Headquartered in Rocky River, Ohio, Roundstone was founded in 2005 with a vision to deliver better healthcare outcomes at a more affordable cost. To bring that vision to life, the company pioneered the group medical captive model — a self-funded health insurance solution that provides small and mid-sized businesses with greater control and significant savings.
Over the past two decades, Roundstone has grown rapidly, creating nearly 200 jobs in Northeast Ohio. The company works closely with employers and benefits advisors to navigate the complexities of commercial health insurance and build custom plans that prioritize employee well-being over shareholder returns. By focusing on aligned incentives and better health outcomes, Roundstone is helping businesses save thousands in Per Employee Per Year healthcare costs. Roundstone Insurance — Built for entrepreneurs. Backed by innovation. Committed to Cleveland.
-----
Stay up to date by signing up for Lay of The Land's weekly newsletter — sign up here: https://layoftheland.ck.page/5f0c1e28fa
Connect with Jeffrey Stern on LinkedIn — https://www.linkedin.com/in/jeffreypstern/
Follow Lay of The Land on X @podlayoftheland