Starting Stage 2 and Reflecting on the Journey

Today, Grand Ventures announced the final close on Fund II at over $50M! Like other big milestones in life, it triggered some reflections on the journey, lessons learned, and advice I can share with other fund managers and founders. Here we go…

Let’s start with some thank yous. First of all, to our portfolio founders. Thanks for your courage, leadership, hard work, and relentless energy. Starting a business is hard and not for the faint of heart. Growing one from ten employees to hundreds is even harder. We appreciate your partnership and thank you for letting us be a part of your story. We hope to be good stewards and help you catalyze growth. To be honest, raising GV II was only possible (and much easier) thanks to your outstanding performance and growth. Let’s keep it up!

Thanks to our Limited Partners who believed in me, entrusted the Fund with their capital, and have shared Grand Ventures’ vision to be a catalyst to create a brighter future. Back in 2017, when GV I launched, it was less certain how much capital would be raised, if we would source and win top deals, and grow the portfolio. You saw something in me that I may not have seen and believed in yet, even as I was heads-down building Grand Ventures. Thanks for everything you do, not just your capital, but your help with deal sourcing, diligence, and helping accelerate growth in portfolio companies.

Thanks to my amazing team! Special credit to my early partners, McKeel Hagerty and Maitlan Cramer, who bought in before the PPM was even complete! My current partners — Camila Noordeloos for your incredible energy, drive, and work ethic. Nathan Owen, the seasoned operator on the team and “CEO Whisperer” - I learn something new every day! Nick Cohn and Kelly Wiarda for driving deal pipeline, marketing, platform, and all the things we need to do. And for the next two additions, I can’t yet announce, welcome! Get ready! Let’s GO!

Here are a handful of lessons we’ve learned and advice I can share, particularly for other emerging fund managers.

1. Fundraising is HARD. If I knew back then what I know now, Grand Ventures may not exist. Thank goodness I didn’t! Thousands of meetings. Thousands of “No Thanks”. Rejection is part of the game. Prepare for it mentally and physically.
2. Build your tribe. We talked about my team and investors. It’s also my friends who keep me grounded and positive. My parents, siblings, and family have always loved me unconditionally and believed in me. My wife who fell in love when I was a struggling entrepreneur trying to start my first fund. My kids who amaze me every day and remind me why it’s all worth it. It’s all the people that support you along the way.
3. Decompress. Supporting 20–30 companies and serving on their boards, building relationships with hundreds of investors, growing a team, and having to raise capital to pay the bills and feed your “tribe” will take its toll. The only way to thrive is to monitor your physical and behavioral health. Faith, exercise, and family are the top three things that keep me balanced. Find balance early on, and build a foundation to endure and thrive.
4. Enjoy the journey. Milestones would not be as sweet without the setbacks we face along the way. Embrace the lows, just like the highs. Every time someone dismisses me, or our vision for the fund, it just adds fuel to the fire to press on and keep my eyes on the prize. Some investments won’t work out as planned. Learn from your mistakes and use them to get stronger every day.

The future has never been brighter. Closing Grand Ventures II is the start of the next leg of the journey. If we look past the recent macroeconomic roller coaster, there are stable and predictable trends. We believe technology will continue to play a huge role in creating a brighter future and resolving the challenges we face as a society. Founders will continue to build amazing companies. Founders, venture capitalists, and society will reap the rewards.

Here’s to the dreamers, risk-takers, and builders — we’re here to support you!