Tank Talks By Ripple Ventures

Podcasting as a medium has been around for close to 20 years, and it has become a vibrant channel of community and connection with little regard for gatekeepers and constraints. Which is wonderful for something like Tank Talks, but less so for communicating non-public and sensitive internal information to employees. Our guest today, JP Gooderham, founder and CEO of Storyboard, is helping companies to use podcasting as a safe, secure, and transparent to way talk to each other and help overcome the physical distance of remote work through podcasts.About JP Gooderham:JP started at Google when he graduated from Tulane University in 2013, he worked his way up the ranks to become Global Product Lead and decided to found Storyboard in 2019. In 2020, Storyboard raised a $4.5M seed round lead by CRV and joined by Harry Stebbings of 20MinuteVC, Operator Partners, Slack Fund, Dave Ambrose, and Matt Ziskie.A word from our sponsor:Ripple Ventures is always focused on helping our founders and CEOs find the best partners to work with. But before we introduce any provider to our companies, we always make sure we try the product first. And when it comes to managing business expenses at Ripple, we were super excited when the team at Jeeves came knocking on our door.Jeeves helped get me and my team setup with physical and virtual credit cards in days. I was able to allow my teammates to expense items in multiple currencies allowing them to pay for anything, anywhere at any time. We weren’t asked for any personal guarantees or pay any setup or annual fees either.Not only does Jeeves save us time, but they also give us up to 3% cashback on our purchases including expenses like Google, Facebook, or AWS every month. The best part, Jeeves puts up the cash, and you settle up once every 30 days, unlike some other corporate card companies that make you pre-pay every month.Jeeves offers a truly all-in-one expense management corporate card program for international startups and we at Tank Talks could not be more excited to partner with them. Listeners of Tank Talks can get set up with a demo of Jeeves today and take advantage of a $700 discount and skip the waitlist by visiting tryjeeves.com/tanktalks to learn more.In this episode we discuss:02:56 The challenges of employee engagement in the landscape of remote work04:56 Ways companies are using Storyboard to reach distributed workforces08:14 Use cases for Storyboard and audio has a way to build and maintain culture11:03 The affect of the pandemic on adoption of platforms like Storyboard13:32 How fast it takes for a company to fully adopt Storyboard into their internal communication15:59 Turning listeners into creators and driving ROI18:42 Storyboard’s playbook for upping ROI to their customers22:54 Diving into social audio tools beyond podcasting25:31 How secure is audio from outside listeners27:36 Case studies of companies using Storyboard to solve communication challenges30:53 How Storyboard is different from traditional Learning and Development33:54 How bottom up content is the future of employee communication and training37:15 Why Harry Stebbings decided to make his first investment in the podcasting spaceFast FavoritesPodcastBeyond The GridNewsletter/BlogNewcomerGadgetWhoopTrendAudioBookShoe Dog by Phil KnightLife LessonEat the frog firstFollow Matt Cohen and Tank Talks here!Podcast production support provided by Agentbee.Agency  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

Voice has long been the final frontier of computing interfaces, and now with the technology of smart speakers and other voice-enabled technologies we are finally able to access what science fiction has been writing about for decades. Our guest today, Braden Ream, founder and CEO of Voiceflow, is helping create that future. Voiceflow, then known as Storyflow, was one of the first portfolio companies backed by Ripple Ventures. Back then it was a platform that helped build skills on Alexa, but has since grown to become the go-to platform for voice and chat-based interfaces and is being used by global Fortune 500 companies like USAA, McDonalds & BMW.About Braden Ream:Braden Ream is the Co-Founder and CEO of Voiceflow, a platform that helps teams design, prototype and launch voice & chat assistants. Founded in 2018, Voiceflow currently powers 300M monthly messages and is deployed across 75,000 teams. Prior to Voiceflow, Braden worked at RBC and founded a social media app.A word from our sponsor:Ripple Ventures is always focused on helping our founders and CEOs find the best partners to work with. But before we introduce any provider to our companies, we always make sure we try the product first. And when it comes to managing business expenses at Ripple, we were super excited when the team at Jeeves came knocking on our door.Jeeves helped get me and my team setup with physical and virtual credit cards in days. I was able to allow my teammates to expense items in multiple currencies allowing them to pay for anything, anywhere at any time. We weren’t asked for any personal guarantees or pay any setup or annual fees either.Not only does Jeeves save us time, but they also give us up to 3% cashback on our purchases including expenses like Google, Facebook, or AWS every month. The best part, Jeeves puts up the cash, and you settle up once every 30 days, unlike some other corporate card companies that make you pre-pay every month.Jeeves offers a truly all-in-one expense management corporate card program for international startups and we at Tank Talks could not be more excited to partner with them. Listeners of Tank Talks can get set up with a demo of Jeeves today and take advantage of a $700 discount and skip the waitlist by visiting tryjeeves.com/tanktalks to learn more.In this episode we discuss:03:12 The history of voice tech leading to Voiceflow09:32 Why Alexa, Siri, and other voice-enabled platforms are succeeding where prior platforms have failed14:02 How the pandemic has helped shape the voice tech industry16:36 The other factors pushing forward voice tech21:42 How the voice apps are the new landing pages and the next internet25:23 Becoming a standard toolset for developing voice interfaces31:32 Addressing privacy concerns around voice tech36:02 How wake words work on Alexa and other platforms38:29 Plans for their recent raise from Felics Ventures, Ripple Ventures, True Ventures, Craft Ventures and othersFast Favorites:PodcastEconomics ExplainedNewsletter/BlogPaul GrahamTech GadgetiPad/Apple PencilNew TrendChessBookCrossing the ChasmBlue Ocean StrategyLife LessonThe world is run by people no smarter than you.Follow Matt Cohen and Tank Talks here!Podcast production support provided by Agentbee.Agency 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

Digital marketing is increasingly important to the success of every business, but it’s a dynamic industry, seeing major disruptions this year with the change to tracking brought by iOS 14. Our guest, Dan Pantelo, founder and CEO of Marpipe, is helping marketers figure out what’s actually working through scalable A-B testing and performance marketing with his platform Marpipe.We talk to Dan about the need for better testing, the current state of MarTech, and his recent $8M series A raise led by Stage 2 Capital along with ourselves at Ripple, Samsung Ventures, Laconia Capital Group, and others.About Dan Pantelo:Dan started out as a street salesman in some of NYC's lowest-income neighborhoods selling electronics on street corners. He went on to found Pantelo Group, an agency that quickly grew to $2M in monthly campaign spend. He founded Marpipe in 2019. Dan did his undergrad at Binghampton University.A word from our sponsor:For anyone that is lucky enough to be a part of building startups, we’ve all seen that mad-rush to answer extensive security questionnaires and implement SOC 2 controls the moment that big whale of a client is on the hook in order to not lose the deal. Which unfortunately ends up swallowing the entire organization's time and resources in the hopes to land that whale, right? Lucky for us at Ripple, we have partnered with compliance automation provider Drata. Drata saves our portfolio companies from these same issues when it comes to effectively proving a strong, ongoing security posture and achieving frameworks like SOC 2 and ISO 27001.Drata allows startups to put Security and Compliance on Autopilot. Companies using Drata experience an average time savings of 85% when compared to running the SOC 2 process manually. Build trust with customers by proving your commitment to security, and maintain continuous compliance in between your audits. Don’t take it from us, Drata works with all kinds of startups like ClearCo, Lemonade, FullStory, Slice and countless others. They're backed by top venture funds such as Okta Ventures and GGV, and are currently G2's number one ranked cloud compliance software provider for customer satisfaction. Listeners of Tank Talks can get set up with a demo of Drata and take advantage of a 15% discount offer and waived implementation fees by visiting drata.com/tanktalks to get setup today.In this episode we discuss:03:20 How personalization in advertising, data, and customization have evolved over the years since advertisers were forced online05:48 Every company is now a marketing company with a subject matter expertise09:28 Other challenges digital marketers face and how they are overcoming them11:30 How brands are using technology to harness User Generated Content (UGC)15:09 Why companies should be focused more on performance marketing20:16 The traditional ad creation process vs. the process with Marpipe24:27 Why creative is now more important with better tracking and recent changes to Facebook27:11 Typical ROI Marpipe customers are seeing31:14 the Marpipe target customer35:12 How Marpipe can use data to decipher trends and what works for specific clients36:46 The future of performance-based marketing39:22 Plans for the $8M Series A raiseFast FavoritesPodcastHow to Take Over The WorldNewsletter/BlogBanklessTech GadgetAirpod ProNew TrendDAOsBookBlack Swan by by Nassim Nicholas Taleb Life LessonOnly worry about things in your direct controlFollow Matt Cohen and Tank Talks here!Podcast production support provided by Agentbee.Agency 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

The market for cars in 2021 has been one of the most pandemic-affected markets. The supply of both new and used cars has never been tighter and our guest today is seeing it from all sides. Dan Park is the CEO of Clutch, Canada's first and largest online car retailer. We talk to Dan about the automotive industry, his path to becoming CEO, and about his plans for the $60M he recently raised from Canaan Partners, FJ Labs, and Real Ventures.About Dan Park:Dan is CEO of Clutch, an online platform for car buying and ownership. Prior to Clutch, Dan was GM & Head of Uber Eats Canada. During his time at Uber, Dan led the growth of Uber's food delivery platform in Canada. Previously, Dan was a Venture Partner at Azure Capital Partners and led the firm’s Canadian investment efforts.A word from our sponsor:For anyone that is lucky enough to be a part of building startups, we’ve all seen that mad-rush to answer extensive security questionnaires and implement SOC 2 controls the moment that big whale of a client is on the hook in order to not lose the deal. Which unfortunately ends up swallowing the entire organization's time and resources in the hopes to land that whale, right? Lucky for us at Ripple, we have partnered with compliance automation provider Drata. Drata saves our portfolio companies from these same issues when it comes to effectively proving a strong, ongoing security posture and achieving frameworks like SOC 2 and ISO 27001.Drata allows startups to put Security and Compliance on Autopilot. Companies using Drata experience an average time savings of 85% when compared to running the SOC 2 process manually. Build trust with customers by proving your commitment to security, and maintain continuous compliance in between your audits. Don’t take it from us, Drata works with all kinds of startups like ClearCo, Lemonade, FullStory, Slice and countless others. They're backed by top venture funds such as Okta Ventures and GGV, and are currently G2's number one ranked cloud compliance software provider for customer satisfaction. Listeners of Tank Talks can get set up with a demo of Drata and take advantage of a 15% discount offer and waived implementation fees by visiting drata.com/tanktalks to get setup today.In this episode we discuss:02:44 How the auto industry is evolving and why now is a great time for disruption04:56 The effect of the pandemic on modernizing the automotive industry and how its effected supply and demand for cars07:39 How consumer behavior during the pandemic pushed forward app adoption09:18 What the enduring lessons from the pandemic will be for the automotive industry10:30 Why the dealership model is ready for disruption11:42 How established players in the industry are fighting back against being disrupted from outsiders13:18 Breaking down the existing legal structures between dealerships and automotive brands16:16 How Clutch is using their data to analyze the aftermarket and used car market18:59 Why Clutch is a better way to buy a used car20:43 Real-world lessons Dan and his team have had to make while building Clutch22:06 How Clutch has captured market share23:18 How Dan defines Clutch’s company culture24:26 Why Dan left Uber Eats to become the CEO of Clutch26:46 Plans for Clutch’s recent $60M raiseFast Favorites:Favourite PodcastHow I Built ThisMasters Of ScaleRevisionist HistoryThis American LifeBlog/NewsletterThe PeakTech GadgetGoPro MaxTrendCanada’s startup sceneBookShoe Dog by Phil KnightFollow Matt Cohen and Tank Talks here!Podcast production support provided by Agentbee.Agency 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

Our guest today, Gale Wilkinson, founder and managing director of Vitalize Venture Capital, is working to change how we work, how we learn, and how people can access investing in startups.Vitalize is known for investing in the future of work and the future of learning startups. They typically invest $250K-$1.5M at the pre-seed and seed stages. Portfolio companies include Placer, The Mom Project, Toucan, Zero Grocery, Zingtree, hiitide, and many more. They have also recently launched a platform that allows non-qualified investors to invest in start-ups before they hit the public markets.About Gale Wilkinson:Gale started in analyst roles at Nielsen and Orbitz before moving into investing in 2012 by founding Irish Angels, a network of angel investors affiliated with the University of Norte Dame. In 2017 she launched a formal fund, Vitalize Venture Capital. She did her undergrad at Notre Dame and got her MBA at the University of Chicago. She is currently a member of the Kauffman Fellows class of 2023.A word from our sponsor:For anyone that is lucky enough to be a part of building startups, we’ve all seen that mad-rush to answer extensive security questionnaires and implement SOC 2 controls the moment that big whale of a client is on the hook in order to not lose the deal. Which unfortunately ends up swallowing the entire organization's time and resources in the hopes to land that whale, right? Lucky for us at Ripple, we have partnered with compliance automation provider Drata. Drata saves our portfolio companies from these same issues when it comes to effectively proving a strong, ongoing security posture and achieving frameworks like SOC 2 and ISO 27001.Drata allows startups to put Security and Compliance on Autopilot. Companies using Drata experience an average time savings of 85% when compared to running the SOC 2 process manually. Build trust with customers by proving your commitment to security, and maintain continuous compliance in between your audits. Don’t take it from us, Drata works with all kinds of startups like ClearCo, Lemonade, FullStory, Slice and countless others. They're backed by top venture funds such as Okta Ventures and GGV, and are currently G2's number one ranked cloud compliance software provider for customer satisfaction. Listeners of Tank Talks can get set up with a demo of Drata and take advantage of a 15% discount offer and waived implementation fees by visiting drata.com/tanktalks to get setup today.In this episode we discuss:03:26 Why the future of work is such an important area of Gale’s investing07:37 Is future of work just a code name for automation09:23 How remote work and gig economy interact with each other10:42 What Vitalize is excited about with Future of Work13:23 How the metaverse and online will mix with real-world opportunities14:03 Overlooked opportunities in the future of workspace15:24 The ethical questions around working for multiple employers16:39 Areas Gale is wary of in the future of work19:10 Areas in the creator economy Vitalize is looking to bet on20:54 Future of learning and where college degrees will be in the coming years22:40 How the pandemic has affected the future of work and the future of learning23:32 Opening up Venture to populations that have been historically excluded from investing24:48 Gale’s goal for Vitalize and how founders and investors can connect25:26 Gale’s secret to being so great on TwitterFast favourites:PodcastVenture UnlockedNewsletter/BlogAxiosTech GadgetHer PhoneNew TrendEco-friendly packagingBookThe Startup Community Way: Evolving an Entrepreneurial Ecosystem by Brad FeldFollow Matt Cohen and Tank Talks here!Podcast production support provided by Agentbee.Agency  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

As we’ve seen from the last two years, BioTech holds immense promise for the future but brings along challenges as an investor into the space. Today we have a lively discussion with two sides of the BioTech investing world, Peter van der Velden, General Partner and Managing director of Lumira Ventures, and Anthony Mouchantaf, Director, Venture Capital at RBCx.About Anthony Mouchantaf:As Director of Venture Capital with RBCx, Anthony works closely with partners across RBC on the bank’s venture investment strategy and leads the venture fund finance group. Prior to joining RBC Anthony was a VC-backed startup founder and a venture capital investor with OMERS Ventures, based out of the fund’s London and Toronto offices.About Peter van der Velden:With 28 years of investment and operating experience, Peter has participated in building companies from start-up through to expansion in the life sciences, information technology, and consumer sectors. Peter’s experience includes: Founder of a boutique merchant bank focused on private IT-based companies, Head of Investment Banking for a boutique investment bank focused on the public IT-based companies, Partner in a buyout partnership targeting retail and consumer-centric businesses; Vice President Business Development for a venture capital-backed drug delivery company; and an Associate role at Canada’s then-largest venture capital firm. Peter started his working career with Canada’s largest independent vaccine manufacturer.A word from our sponsor:For anyone that is lucky enough to be a part of building startups, we’ve all seen that mad-rush to answer extensive security questionnaires and implement SOC 2 controls the moment that big whale of a client is on the hook in order to not lose the deal. Which unfortunately ends up swallowing the entire organization's time and resources in the hopes to land that whale, right? Lucky for us at Ripple, we have partnered with compliance automation provider Drata. Drata saves our portfolio companies from these same issues when it comes to effectively proving a strong, ongoing security posture and achieving frameworks like SOC 2 and ISO 27001.Drata allows startups to put Security and Compliance on Autopilot. Companies using Drata experience an average time savings of 85% when compared to running the SOC 2 process manually. Build trust with customers by proving your commitment to security, and maintain continuous compliance in between your audits. Don’t take it from us, Drata works with all kinds of startups like ClearCo, Lemonade, FullStory, Slice and countless others. They're backed by top venture funds such as Okta Ventures and GGV, and are currently G2's number one ranked cloud compliance software provider for customer satisfaction. Listeners of Tank Talks can get set up with a demo of Drata and take advantage of a 15% discount offer and waived implementation fees by visiting drata.com/tanktalks to get setup today.In this episode we discuss:03:32 Peter’s journey to becoming a BioTech investor06:04 What the Canadian BioTech scene was like 10 years ago07:36 How Anthony convinced the team at RBCx to take BioTech seriously08:52 The pandemic’s role in convincing LPs to take BioTech seriously11:33 Peter’s take on why institutional investors have started to take BioTech investing more seriously15:09 How life sciences has more liquidity than traditional tech sectors17:07 How the life sciences market has matured over the last 10 years18:21 Insight into how investment committees at institutional investors work and how they look at biotech and life sciences23:26 Why life sciences can be intimidating to traditional investors30:57 What needs to happen to get Canadian investors more comfortable with investing in BioTech35:15 Why making unicorns isn’t everything in investing38:09 What value RBCx brings to the table besides capital41:40 How to manage LP communications in the BioTech space48:13 How Canada can become a global life sciences powerhouseFast FavoritesPodcastAnthonyThis is Actually HappeningPeterMasters of ScaleAmerican InnovationsNewsletter/BlogAnthonyVisual CapitalistPeterStat NewsTech GadgetAnthonyOura RingPeterApple WatchTrendAnthonyTikTokPeterWork-Life Balance from remote workBookAnthonyThe Federalist PapersPeterAtlas Shrugged by Ayn RandFollow Matt Cohen and Tank Talks here!Podcast production support provided by Agentbee.Agency 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

Data security is a huge concern, and a way to prove you take data security seriously is by obtaining a SOC 2 certificate. When obtained, SOC 2 is the gateway to larger enterprise contracts for SaaS companies, but the process of obtaining it can be labor-intensive, costly, and confusing. Drata was born to help streamline this process. We talk with Adam Markowitz, co-founder and CEO of Drata, to talk through SOC 2 and what Drata does for its customers.About Adam Markowitz:Adam is a former aerospace engineer who worked on rocket engines for NASA’s next-generation space launch vehicle as well as the Space Shuttle Main Engine. He went on to be the founder and CEO of Portfolium (Acquired by Instructure – 2019), proudly serving millions of students and grads from over 3,600 colleges and universities. He co-founded Drata in 2020 and recently closed a $25M Series A with GGV Capital, SVCI - Silicon Valley CISO Investments, Okta Ventures, Cowboy Ventures, and Leaders Fund.In this episode we discuss:01:58 What does SOC 2 Compliance and why is it so hard to achieve?05:03 The SOC 2 process with and without Drata06:48 Why SOC 2 is a growing concern for startups08:22 Is SOC 2 standard for B2B companies?09:53 What’s the first thing you should know if you’re asked for a SOC2 report?12:12 The difference between SOC 2 Type I and SOC2 Type II13:07 What the best case turnaround time for a SOC 2 Type I report13:48 Why many companies do a SOC 2 Type I on the way to get a SOC 2 Type II14:43 What type on content is in a SOC 2 report16:43 How founders should think about SOC 2 requests from clients18:25 How can startups instill a culture of cybersecurity20:59 Who should manage the SOC 2 process at smaller startups23:07 What Drata does to help simplify and automate the SOC 2 process26:13 What is the overlap between SOC 2 and HIPPA27:23 When is the right time to add a CISO position to a startup?28:50 Drata’s traction and recent Series A financingFast FavoritesPodcastMasters of ScaleNewsletter/BlogTed TalksGadgetAirpodsTrendHybrid/Remote workBookExtreme Ownership: How the US Navy SEALs Lead and Win by Jocko WilinkRelentless: From Good to Great to Unstoppable by Tim Grover and Shari WenkFollow Matt Cohen and Tank Talks here!Podcast production support provided by Agentbee.Agency 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

Subscriptions are taking over the world, but it can often be a challenge for smaller e-commerce sites to add and service this new sector on top of their existing business, Upscribe is here to fill that niche for Shopify shops and other e-commerce platforms. We talk with Dileepan Siva, founder and CEO, about what he’s building, the e-commerce landscape, and how to reduce churn and increase loyalty through smarter subscription offerings.About Dileepan Siva:Dileepan grew up across three continents and four countries before the age of ten. His dream job growing up was to be the UN Secretary General. After graduating from UC Berkeley and getting an MBA from Harvard, he went on to be an advisor for the US and UN in war-torn countries.After his time in government and politics, he moved to consulting and tech operations at Ebay, and Twitter, before becoming a founder for himself. Upscribe was founded in 2019 and recently closed a $4M seed round lead by Uncork Capital.In this episode we discuss:01:24 The evolution of the subscription economy03:09 What has caused the shift to subscriptions?06:13 The technologies that have helped enable subscriptions08:25 How companies can start into subscriptions10:27 Why Shopify and CAC has changed the game in e-commerce12:15 How non-SaaS businesses can implement subscriptions13:52 Why subscriptions are not just yesterday’s box companies15:25 What is the best strategy for pricing your subscriptions17:24 Why bundling is so important to e-commerce19:21 The importance of data and personalized marketing with subscription21:18 How companies should think about retention in relation to growth24:05 Dileepan’s best advice for a company just starting a subscription service26:18 Targeting data that Upscribe uses to upsell customers27:22 Why smart subscriptions is a good idea29:14 The decision to take on funding from UncorkFast FavoritesPodcast:Invest Like The BestNewsletter/BlogScott GallowayTech GadgetSony HeadphonesTrendThe future of workBookUntethered Soul by Michael SingerFollow Matt Cohen and Tank Talks here!Podcast production support provided by Agentbee.Agency 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

The transitions into different eras of the web can sometimes be hard to miss, but our guest today, renowned VC investor and Operator Mo Koyfman, has seen the signs clearer than others. He helped shape Web 2.0 as an operator and is now working hard shaping Web 3.0 as an investor. Mo and Matt have a fun conversation that dives into his views on the emergence of embedded Fintech and the ways he is looking to invest in the future of Fintech.About Mo Koyfman:Mo Koyfman is a prolific venture capitalist who started his career investing at IAC, working underneath Barry Diller. Mo led IAC’s acquisition of Vimeo, while also acting as COO for a period of time, Mo later moved on to Spark Capital in 2008, where he led investments in companies like Skillshare, Warby Parker, Plaid, and several others.Mo launched his new fund Shine Capital with $125 Million in funding in the Fall of 2020.A message from our sponsor:Now more than ever, entrepreneurs need committed partners to help them navigate the hardest pain points of scaling a technology business. Created by one of Canada’s largest banks, RBCx is re-imagining what it means to create meaningful and impactful technology companies in Canada.RBCx – the tech banking arm of the Royal Bank of Canada - is a full-service platform that accelerates the entrepreneurial journey at every stage of growth – providing access to a complete suite of capital solutions, innovative products and services, and operational expertise to help technology companies scale.Sid Paquette – former Managing Partner at OMERS Ventures, is leading the group and has recruited a bunch of new faces to the bank from the Venture and Tech industry. Tony Barkett and Tyler Kirk – two former Silicon Valley Bank leaders in addition to Nicole Kelly and Anthony Mouchantaf have also joined Sid from OMERS Ventures.RBCx has been incredibly active since their launch in June as an LP, and have already backed some of Canada’s most notable VC funds including Golden, Amplitude, Version One and Lumira Ventures. To learn more about RBCx visit www.rbcx.com or follow them on Twitter or Linkedin.In this episode we discuss:03:12 Mo’s definition of embedded FinTech16:50 How investing about learning and problem solving27:54 Lowering SaaS CAC and increasing LTV through embedded FinTech32:43 Calculations startups should make when deciding to add FinTech and other services38:53 Is the fight for new corporate credit cards a race to the bottom44:36 The future of offerings like compliance and tax services48:24 Shine Capital’s investment thesisFast FavoritesPodcastsJoe RoganNewsletter/BlogAVCTech GadgetHyperVoltNew TrendCryptoBookPortnoy's Complaint by Philip RothFollow Matt Cohen and Tank Talks here!Podcast production support provided by Agentbee.Agency 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

Our guest today, George Rossolatos, is the CEO of the Canadian Business Growth Fund (CBGF), which is an evergreen fund. Evergreen funds, or sometimes referred to as open-ended funds, are different than closed-ended funds which are the most typical structure we see in venture capital. With evergreen funds, capital is invested directly into an LLC on an ongoing basis with no termination date meaning they live on FOREVER!We talk with George about this unique position in the market as Canada’s first growth equity evergreen fund, the startup environment, and what Canada needs to do to keep its most innovative companies from receiving funding elsewhere.About George Rossolatos:As CEO of the Canadian Business Growth Fund (CBGF), George is responsible for developing the Fund’s national launch strategy, talent recruitment and the leadership and oversight of its investment activities.Previously, he served as CEO at Avante Logixx, a publicly-traded security and technology company, where he oversaw the company’s successful turnaround and growth strategies. Prior to that, he held leadership roles in private equity, first at Harrowston (acquired by TD Capital) and then at TorQuest as Co-founder and Partner where he launched the Fund’s $180 million Value Fund in 2002 and its $550 million Value Fund II in 2006.In addition to a degree in Commerce from Queens University, he has an FCPA Designation and an MBA from the Kellogg School of Management at Northwestern University with a specialty in Marketing, Entrepreneurship & Technology. He was previously recognized with the Top 40 Under 40 award, recognizing young business leaders.In this episode we discuss:01:56 Why CBGF decided to go with an evergreen fund as a structure03:21 From an LP perspective how does an evergreen fund look different from a traditional investment fund04:44 The types of investors that are LPs in CBGF05:34 Where the idea for an evergreen fund started07:24 Advantages and differences between CBGF and traditional VC funds09:34 Strategic differences between evergreen and other funds11:04 The transparency of management fees with an evergreen fund12:10 The benefits of of awarding carry to evergreen fund employees to attract and retain talent13:15 The challenges of running an evergreen fund16:58 How entrepreneurs view taking money from a CBGF versus more traditional funds19:47 Was an evergreen structure formed because of the nature of the LP base, or was the LP base attracted to the fund because it was an evergreen fund?21:39 How CBGF manages relationships with its portfolio companies and its LPs22:43 How Net Asset Value (NAV) is calculated at CBGF24:17 Where CBGF likes to be positioned on the cap table25:25 How returns compare historically between evergreen and traditional funds28:10 Deal competition in the current market30:46 Price sensitivity in their deal analysis32:22 How CBGF manages co-investments with their LP base33:54 Where they see exits for their companies35:57 How CBGF views the long term for the fund itself37:55 The state of the Canadian startup ecosystemFast Favorites:PodcastKwik Brain with Jim KwikNewsletter/BlogJohn P. Hussman’s Market CommentGadgetKindleNew TrendVirtual MeetingsBookGetting to Yes: Negotiating to Agreement, Without Giving In by Roger FisherFollow Matt Cohen and Tank Talks here!Podcast production support provided by Agentbee.Agency 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