🎧How to Win at Pre-Seed: Consumer Signals, Red Flags, and Venture-Scale Bets with Shamin Walsh of BAM Ventures

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Hey friends,

A big thank you to Odile Roujol for introducing me to our guest today—Shamin Walsh, Managing Director at BAM Ventures. BAM is an early-stage, consumer-focused venture capital firm based in Los Angeles that’s focused on investing at the pre-seed stage. They’ve backed some truly iconic companies:

• Honey

• Cotopaxi

• NerdWallet

• Zola, Away

• Thrive Market

The list goes on. Seriously, some of the most exciting consumer success stories out there.

In this episode, we dig into:

• 03:44 Why She Joined BAM originally & What Makes the Firm Different

• 07:00 Is Investing in Consumer Still Sexy? (Hint: Yes, If You Do It Right)

• 10:07 Power Law Returns in CPG & Brand Exits

• 13:21 Why Fund Size Dictates Strategy

• 16:10 Balancing Brand, Commerce Infra & Consumer Tech

• 17:30 What BAM Looks for in Founders

• 20:15 Case Study: How Thrive Market Nailed Consumer Behavior

• 23:15 The Danger of False Signals in Consumer Startups

• 26:00 How BAM Thinks About Reserves & Follow-Ons

• 28:20 Staying Price Disciplined (Even in the 2021 Hype Cycle)

• 30:00 Why Founders Pick BAM Over Bigger Funds

• 32:00 Capital Efficiency ≠ Always Bootstrapping

• 35:09 Fundraising Strategy & How to Navigate Future Rounds

• 37:00 What Early Traction Signals Actually Matter

• 39:10 How BAM Measures Stickiness vs. Trendiness

• 44:00 Could a New Social Platform Still Win?

• 46:00 BAM’s View on AI: Not a Strategy, Just a Tool

• 48:00 ⚡ Rapid Fire Round: Trends, Products, Books

• 52:00 Why “The Little Prince” Still Inspires Shamin