The Startup CPG Podcast

Startup CPG
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The top CPG podcast in the world, highlighting stories from founders, buyer spotlights, highly practical industry insights - all to give you a better chance at success.

  1. 2D AGO

    Founder Fundraising Journey: Jesse Konig, CEO & Co-Founder of Jesse & Ben's

    In this episode of the Startup CPG Podcast, host Hannah Dittman sits down with Jesse Konig, co-founder and CEO of Jesse & Ben's, to explore what it really takes to disrupt a legacy category, raise capital in CPG, and build a fast-growing brand from the ground up. The conversation dives deep into the reality of fundraising as a first-time CPG founder, the mechanics of running a competitive investment process, and why great velocity data and fanatical customers are worth more than any polished pitch deck. Jesse shares his unconventional path from running a food truck in Washington D.C. (serving gourmet hot dogs and hand-cut fries) to opening a burger restaurant—on a 10-year lease—right as COVID hit, to making the bold pivot into frozen CPG with Jesse & Ben's. Built on a simple but powerful idea—bringing frozen french fries back to their original glory with better-for-you oils (beef tallow and avocado oil), clean sourcing, and zero fillers—Jesse & Ben's has quickly become a true food industry darling, landing nationwide distribution at Whole Foods and Sprouts in their first full calendar year, with Target, Kroger, and Costco on the horizon. Throughout the episode, Jesse pulls back the curtain on his fundraising journey from a friends-and-family SAFE round (20+ investors, hundreds of thousands to ~$1M) to a more institutional process driven by real velocity data, social proof, and competitive FOMO. He reveals how his valuation cap changed three times in one week once investors realized others were circling, why fundraising is a full-time job and a momentum game, and how he and co-founder Ben divided and conquered—Jesse running the investor process while Ben stood up a 6,000 sq ft production facility from scratch in 2025. Jesse also shares what he looked for in investment partners (back-channel references, not just curated intros), how to size a fundraising round (raise more than you think you need), and why the only way to lose in CPG is to run out of money. Whether you're raising your first friends-and-family round, preparing for an institutional process, or trying to figure out how much capital you actually need, this conversation is packed with hard-won, practical wisdom from a founder who's lived every stage of it. Listen in as they discuss: Jesse's background: D.C. food truck → burger restaurant → COVID pivot → frozen CPGThe origin of Jesse & Ben's: clean-sourced frozen french fries made with beef tallow and avocado oil"Turning junk food into joy food": the brand mission and why focus winsVertically integrating production: opening a 6,000 sq ft frozen manufacturing facility in 2025The first fundraise: friends, angels, and small VCs via SAFE notes on a rolling basisWhy fundraising is a full-time job and a momentum game—not a nights-and-weekends projectRunning a competitive process: how FOMO moved their valuation cap three times in one weekWhat investors actually leaned into: velocity data, fanatical customers, social proofHow to select investors: back-channel references, horror stories, and who you want to call in a crisisSizing your round: raise more than you think you need and always build in a runway bufferThe only way you lose in CPG: running out of moneyAdvice for founders: think with the end in mind, divide and conquer, run a process Episode Links: Jesse Konig — Co-Founder & CEO, Jesse & Ben's Personal LinkedIn: https://www.linkedin.com/in/jessekonig/ Website: https://www.jesseandbens.com/  LinkedIn: https://www.linkedin.com/company/jesse-and-bens/ Instagram: https://www.instagram.com/jesseandbens  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 (35K+ 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

    47 min

  2. 3D AGO

    Founder Feature: Lindsay Hancock of My Better Batch

    In this episode of the Startup CPG Podcast, host Caitlin Bricker sits down with Lindsay Hancock, founder of My Better Batch—a clean label cookie mix made with non-GMO ingredients, designed to taste just like homemade cookies. Caitlin and Lindsay dig into the winding road that led Lindsay from helping build a company acquired by Kind Snacks, to navigating divorce as a single mom at 40, to shipping her very first order in April 2024 and baking thousands of cookies in an Airbnb to prepare for her first-ever trade show. Lindsay shares how nearly two decades in food—starting on the retail side, then moving to manufacturing—gave her both the expertise and the courage to bet on herself. After the acquisition of her previous company by Kind Snacks and the unexpected upheaval of a divorce, she found herself at a crossroads: keep climbing the corporate ladder or build something of her own. She chose the latter. My Better Batch was born from a simple but powerful insight: there's a massive gap between the cookie mix you grab off the grocery store shelf and the homemade cookie you actually want to eat. Lindsay set out to bridge that gap—delivering a shortcut that moms can feel genuinely good about. In less than two years in market, the results have been remarkable. My Better Batch landed in the Sprouts Forager set, Thrive Market, Lowe's Foods, the Fresh Market, Metropolitan Market, and Target—where Lindsay was accepted into the Target Accelerator program after meeting the team at a trade show. She also won the Good Housekeeping Best Snack Award and earned feature coverage in Parade magazine and All Recipes. And she did most of it as a solopreneur with a lean team of fractional consultants. Lindsay reflects on what it takes to build momentum quickly as a small brand, why getting the product into people's mouths is everything, and how community—through networks like Startup CPG—provides the validation and feedback that a solo founder can't always find internally. Listen in as they discuss: Lindsay's career path: retail → manufacturing → building a company sold to Kind Snacks → solopreneur at 40How divorce became an unexpected catalyst for building My Better BatchWhat makes My Better Batch different: clean label, non-GMO, homemade taste without the effortShipping the first order in April 2024 and growing from DTC to national retail in under two yearsThe Sprouts Forager set, Thrive Market, Target, Lowe's Foods, the Fresh Market, and Metropolitan MarketGetting accepted into the Target Accelerator programBaking thousands of cookies in an Airbnb to prep for her first trade showWhy quality of connections matters more than quantityThe Good Housekeeping Best Snack Award and major press in Parade and All RecipesDream retailers on the wishlist: Wegmans and H-E-BOperating as a solopreneur: fractional teams, LinkedIn's "Real CPG Journey" series, and finding validation in community Episode Links: My Better Batch Website: https://mybetterbatch.com/ Instagram: https://www.instagram.com/mybetterbatch LinkedIn: https://www.linkedin.com/company/mybetterbatch/ Lindsay Hancock — Founder, My Better Batch LinkedIn: https://www.linkedin.com/in/lindsayhancock/ 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 (35K+ 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

    23 min

  3. 6D AGO

    #237 - Inside Founders & Funders with Alex Michaelsen from Leisure Hydration and Alex Malamatinas from Melitas Ventures

    In this episode of the Startup CPG Podcast, host Daniel Scharff recaps the biggest investor event of the year—Founders & Funders—with two standout guests: Alex Malamatinas, founder of Melitas Ventures, and Alex Michealsen, founder and CEO of Leisure Hydration. Together, they pull back the curtain on what it's really like to be in the room: from the 10-minute speed dating meetings to the panel content, the VC dinner, and the hard-won fundraising lessons early-stage founders need to hear. Alex Malamatinas shares what makes a founder truly stand out in a short meeting—charisma, clear vision, and product differentiation—and why meeting in person unlocks things a deck simply can't. Alex Michealsen breaks down his methodical approach to pitching: leading with questions for the investor, then firing off the numbers that matter most (velocity, contribution margin, channel performance) before the bell rings. He also introduces the "CPG triangle"—margin, velocity, and cash flow management—as the framework every operator should run every decision through. The conversation covers the nuances of margin (why contribution margin is the only one that truly matters when running a business), how to build investor relationships over years rather than days, and why the prep work before an event like Founders & Funders is just as important as the meetings themselves. Both guests also offer candid feedback on how to make the event even better next year. Whether you're an early-stage brand trying to break into the investor ecosystem, a founder preparing your first pitch, or just trying to understand what VCs are actually looking for, this episode delivers honest, tactical insight from two people who've been on both sides of the table. Listen in as they discuss: The Founders & Funders format: curated one-on-one meetings, 70 VCs, 160 brands, and 600+ meetings in a dayWhat makes a founder stand out in a 10-minute meeting: vision, charisma, and knowing your numbers coldAlex Michealsen's pitch framework: interview the investor first, then lead with velocity and contribution marginThe CPG triangle: why margin, velocity, and cash flow management are the only three things that matter as an operatorMargin explained clearly: product margin vs. gross margin vs. contribution margin—and why contribution is kingWhy beverage brands' Amazon contribution margin is often lower than retail despite higher gross marginBuilding investor relationships over years, not days—and why most of Leisure's investors took two years to closePR and content from the event: hot deals of 2025, trends vs. fads, real talk on margins, deal terms 101, and a keynote with Paul VogueIdeas for leveling up Founders & Funders: wildcard meetings for early-stage brands and mixed founder-investor social eventsThe Startup CPG Roadshow: a mobile version of Founders & Funders coming to major cities in 2025 Episode Links:  Founders and Funders: fandf.startupcpg.com Alex Malamatinas – Founder & Managing Partner, Melitas Ventures LinkedIn: https://www.linkedin.com/in/alex-malamatinas-17a25124/ https://www.linkedin.com/company/melitasventures/ Alex Michealsen – Co- Founder & CEO, Leisure Hydration  LinkedIn: https://www.linkedin.com/in/alex-michaelsen-35b395162/ https://www.linkedin.com/company/leisure-hydration/ 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 (35K+ 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

    42 min

  4. FEB 21

    Unpacking CPG Finance: Ryan Williams, Founder of Northall

    In this episode of the Startup CPG Podcast, host Hannah Dittman sits down with Ryan Williams, founder of Northhall, to demystify CPG finance and accounting for early-stage consumer brands. The conversation covers everything from the bare minimum financial foundations a founder needs to get right, to the metrics investors care about most—and the hard-earned lessons Ryan has picked up from years of working hands-on with hundreds of brands across stages. Ryan shares his path from investment banking at Houlihan Lokey (advising on the sell-side of Snack Factory/Pretzel Crisps) to CFO of a venture-backed coffee brand, to building Northhall—a full-cycle accounting and finance partner exclusively focused on CPG companies. Northhall serves brands from pre-revenue through approaching nine figures of revenue, acting as a one-stop shop for bookkeeping, controller functions, financial modeling, FP&A, and fundraising readiness. Throughout the episode, Ryan breaks down critical concepts founders often hear but don't fully understand: gross-to-net revenue, chart of accounts and the general ledger, gross margin vs. contribution margin, and how to think about channel-level economics. He explains the three-stage accounting lifecycle of a CPG brand, why connecting the GL directly to your financial model speeds up decision-making, and why adding software too early can do more harm than good. Ryan also offers a framework for fundraising readiness—including why optimizing for valuation while your bank account is declining is one of the most common and dangerous traps founders fall into, why capital efficiency (revenue divided by capital burned) is one of the clearest signals of value creation, and why early-stage brands should prioritize 3x growth over near-term profitability. Whether you're a founder picking up QuickBooks for the first time, preparing for your first institutional raise, or just trying to understand what investors are actually looking at when they review your financials, this episode offers clear, grounded, and immediately actionable guidance. Listen in as they discuss: Ryan's path: Houlihan Lokey investment banking → CFO of a venture-backed coffee brand → founding NorthhallNorthhall's focus: full-cycle accounting + finance for CPG brands from $3M–$100M+ in revenueWhy CPG finance is different: inventory, sell-in vs. sell-through, gross-to-net spreads, accruals, trade deductionsThe three-stage accounting lifecycle: family bookkeeper → QuickBooks + quality spreadsheets → full enterprise reportingGross-to-net revenue: why booking your Shopify or Amazon payout as revenue understates your true salesChart of accounts / GL 101: what it is, why it matters, and how to structure itGross margin vs. contribution margin: a clear, step-by-step breakdown with examplesChannel-level economics: why understanding margin by channel (DTC, Amazon, distributor, retail) is the right level of detail for sub-$10M brandsOffline deductions: UNFI/KeHE chargebacks, trade rates, and how to peel back the layers over timeThe "what happened to my $1" framework for conceptualizing unit economicsFundraising traps: anchoring to outlier deal terms, optimizing valuation while burning cashKey investor KPIs: capital efficiency ratio (revenue ÷ capital burned), growth rate, and why 3x early beats near-term profitabilityAdvice for founders: find real product-market fit, take bigger pivots instead of incremental tweaksHow to break into CPG finance: the "give first" philosophy and building the Food and Beverage Investor Database Episode Links: Ryan Williams — Founder, Northhall 🔗 LinkedIn: https://www.linkedin.com/in/ryanstuartwill/ 🌐 Website: https://www.northhall.com/ https://www.linkedin.com/company/northhall/ 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 (35K+ 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

    42 min

  5. FEB 20

    Founder Feature: Kun Yang of Pricklee

    In this episode of the Startup CPG Podcast, host Caitlin Bricker sits down with Kun Yang, co-founder of Pricklee—a natural hydration drink powered by prickly pear cactus fruit with no artificial dyes, no artificial sugars, and no plastic. Caitlin and Kun crack open the brand-new Pricklee 2.0 cans live on the podcast and dive into the four-and-a-half-year journey from launching in Boston in 2021 to hitting what Kun describes as a true product-market fit moment. Kun shares how he and his co-founder Mo—both doctors of pharmacy—were living with a roommate studying heart health in 2019 when the Framingham Heart Study caught their attention. The data showed that people consuming one artificially sweetened drink per day had a 3x increased risk of stroke and dementia compared to those drinking full-sugar beverages. That finding, combined with mounting evidence on artificial dyes, lit a fire under them to build something better—especially as they were starting their own families and looking around at the same legacy, neon-colored hydration drinks that had filled grocery aisles since their childhoods. Rather than raising institutional capital and hitting the gas immediately, Kun and Mo applied a scientific approach to brand building: test, iterate, improve, and keep going without ego. They launched with a cactus water positioning that got them into key accounts like Sprouts, Whole Foods, and H-E-B, then spent the next four years refining formulation, repositioning, and listening hard to customer feedback. The single greatest challenge, Kun reflects, was education—explaining the prickly pear ingredient itself slowed them down. Repositioning to lead with "natural hydration" unlocked a whole new level of resonance with their target consumer: young families who love better-for-you soda and energy drinks but haven't yet had a natural hydration option they'd actually reach for. Throughout the conversation, Kun and Caitlin discuss the parallels between Pricklee's journey and Poppy's pivot from apple cider vinegar to soda, why coconut water built the demand for natural hydration without fully capitalizing on it, and why the category sequence of better-for-you soda → energy → hydration makes Pricklee's timing feel inevitable. Kun also shares the velocity growth Pricklee is seeing since launching 2.0 (200–400% depending on the channel), a fully subscribed (and oversubscribed) seed round, new distribution through Vistar, and two brand-new flavors debuting at Expo West 2026: Mixed Wild Berry and Juicy Watermelon. Listen in as they cover: Why two pharmacists decided to disrupt the legacy hydration categoryWhat the Framingham Heart Study revealed about artificial sweeteners and brain healthHow Pricklee applied the scientific method to brand building and product-market fitThe education challenge of leading with a prickly pear ingredient vs. a natural hydration benefitWhy families are Pricklee's core target—and why toddlers are the ultimate product validatorsHow coconut water created demand that Pricklee is positioned to captureThe case for aluminum over plastic and why sustainability has become a growth driverPricklee's distribution expansion into Vistar and the food service channelWhat's new with Pricklee 2.0: new formulation, new packaging, new flavorsTwo flavor announcements: Mixed Wild Berry and Juicy Watermelon debuting at Expo West 2026A fully subscribed seed round—and what's next for the brand Whether you're a founder trying to find product-market fit, a buyer looking for the next natural hydration brand, or a consumer who's been searching for a better option than neon-colored plastic bottles, this episode is for you. Note: Pricklee will be at Expo West Booth #8920 (ACC, Level 3) Episode Links: Website: www.pricklee.com Instagram: https://www.instagram.com/drinkpricklee/ 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 (35K+ 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

    34 min

  6. FEB 17

    #236 - Expo West Tips for New Exhibitors

    In this solo episode of the Startup CPG Podcast, Daniel Scharff—Founder & CEO of Startup CPG—shares his complete playbook for winning at Expo West. After exhibiting at Expo West (and Expo East) more times than he can count, Daniel breaks down exactly how emerging brands can maximize ROI at one of the most overwhelming trade shows in the world: 70,000 attendees, 3,000 booths, and buyers with limited time. From pre-show strategy and proactive buyer outreach to booth setup hacks, follow-up timing, scrappy sampling tricks, and how to avoid “stripping the screw” with buyers—this episode is a tactical, no-fluff guide for founders who want to turn booth investment into real retail traction. Whether it’s your first Expo or your tenth, this episode will help you walk in with intention—and walk out with momentum. Listen in as Daniel covers: • Why you must build a real buyer target list before the show• How to identify which buyers and distributors are attending• Smart, proactive outreach strategies that actually get responses• Pre-show marketing tactics to build buyer FOMO• Booth design advice for early brands (don’t overspend!)• Why product is always the hero—not your backdrop• The #1 sampling mistake brands make (temperature matters)• How to serve ice-cold beverages without buying booth electricity• Using volunteers strategically so you don’t burn out• How to spot and approach buyers—even if you don’t know their name• The exact way to ask for buyer contact info without being pushy• Lead scanners vs. scrappy note-taking: what Daniel recommends• How and when to follow up after the show• Playing the long game with retail relationships• Booth logistics checklist: test your setup before you go• The one thing you don’t want to be hunting for at Home Depot at 9pm• Why you should bring two pairs of shoes (seriously)• Applying to pitch competitions and retailer programs• Leveraging LinkedIn in real-time during the show• Why you should always carry product—even off the show floor• Creative (and slightly sneaky) aisle strategies to intercept buyers Expo is a massive investment. Daniel’s goal with this episode: help you make sure the magic moment happens when the right buyer walks into your booth. 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. 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 (35K+ 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

    26 min

  7. FEB 15 · BONUS

    The Year of Fiber: What to Expect at Expo West 2026 with Comet

    In this mini episode of the Startup CPG Podcast, Daniel Scharff sits down with Hannah Ackermann and Taylor Davis from Comet to explore the fiber and gut health trends taking over CPG—and what brands should expect to see at Expo West 2026. If last year was the year of protein, this year is shaping up to be the year of fiber. From prebiotic sodas to functional jams and bone broth, fiber is showing up in categories we never imagined. Hannah and Taylor break down why consumers are suddenly obsessed with gut health, how the "Poppy effect" is influencing product innovation, and why people are starting to have preferred fiber types—just like they do with protein. Listen in as they cover: Why fiber is becoming the next big functional ingredientThe rise of prebiotic sodas and how brands like Poppy changed the gameWhy different fibers (like resistant starch vs. inulin vs. arabinose) matterConsumer insights: two-thirds want fiber in baked goods and bars, not powdersThe connection between Dry January, mocktails, and functional beveragesWhere all that volume from alcohol reduction is really goingEmerging categories: prebiotic jams, bone broth, and spreadsHow to differentiate your brand with the right prebiotic fiberWhy arabinose-based fiber is gentle, fully soluble, and easy to formulate withWhere to find Comet at Expo West (booth N1746 in Hot Products!) Whether you're formulating a new product or just want to stay ahead of CPG trends, this episode will help you understand why fiber is everywhere—and how to use it strategically in your brand. Comet will be at Expo West booth N1746 with samples of Be Pop, a sparkling prebiotic beverage made with natural honey and arabinose fiber. Stop by to try it and connect with their applications team. Episode links: Want to learn more? Visit comet-bio.com Linkedin:https://www.linkedin.com/company/comet-bio/  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. 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 (35K+ 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

    13 min

  8. FEB 14

    Investor Spotlight: Brian Bernstein, Rich Products Ventures

    In this episode of the Startup CPG Podcast, host Hannah Dittman sits down with Brian Bernstein, investor at Rich Products Ventures, to explore what corporate venture capital looks like in practice—and why it might be the strategic partner early-stage food brands didn't know they needed. The conversation dives deep into evaluating product-market fit, understanding the metrics that actually matter (velocity over door count, margin bridges, the "Toledo test"), and why venture capital isn't the right fit for every founder. Brian shares his unconventional path from investment banking at Bank of America (working on the Yeti IPO) to Blue Apron during its rise and fall, to MBA at Wharton, to Restaurant Brands International (Burger King, Popeyes, Tim Hortons), and eventually landing at Rich Products Ventures. He discusses how Rich Products—a $6 billion, 80-year-old, family-owned frozen food manufacturer—operates its corporate venture fund with a hybrid approach: 60-70% financial investor, 30-40% strategic partner. Drawing from recent investments like Evergreen (frozen better-for-you waffles), Ripple (pea milk), and Delicious (frozen novelty bites), Brian reveals what separates compelling opportunities from brands that aren't ready for institutional capital. Throughout the episode, listeners gain insider perspective on corporate venture versus traditional VC, the diligence process Rich Products Ventures runs (100% of what a financial investor does, plus strategic support), and why information walls, no right of first refusal clauses, and evergreen fund structures make corporate venture an asset—not a burden. Brian emphasizes his conviction drivers: founder-market fit, velocity in natural crossing into conventional, margin bridges with clear paths to profitability, and the "Toledo test" (if it won't sell in Toledo, Ohio, it's not a scalable brand). He also shares why venture money isn't right for every brand, how to think about exit timelines (7-10 years on average), and why founders should hire only when it's painful. Whether you're evaluating corporate venture investors, preparing for diligence, or wondering if venture capital is the right path for your business, this conversation offers clarity on what early-stage food investors care about most when backing mission-driven founders building real, durable businesses. Listen in as they discuss: Brian's path: investment banking (Yeti IPO) → Blue Apron's rise and fall → Wharton MBA → RBI → Rich Products VenturesRich Products background: $6 billion revenue, 80 years old, family-owned frozen food manufacturerCorporate venture thesis: pre-farm to post-fork, $100K-$3M checks, seed to Series C stageHow corporate venture differs from traditional VC: hybrid 60-70% financial, 30-40% strategicWhy corporate venture can be an asset, not a burden: information walls, no RFR clauses, evergreen fund structureWhat makes a compelling investment: founder-market fit, velocity crossing into conventional, margin bridges, platform potentialCase studies: Evergreen (frozen waffles going after Eggo), Ripple (pea milk at scale), Delicious (frozen novelty bites)The "Toledo test": if it won't sell in Toledo, Ohio, it's not a scalable brandWhy velocity matters more than door count: depth over breadth, turns per store per SKU per weekEvaluating margins: contribution margin bridges, clear paths from 15% to 30%, initiatives in placeWhy venture capital isn't the right fit for every brand: lifestyle businesses vs. $100M disruptorsExit pathways: strategics (7-10 years, $75M+ revenue), private equity (cash flow focused), IPOs (decade+, billion-dollar brands)Advice for founders: solve a real consumer pain point, start scrappy, hire when it's painful, be ready for pivotsHow to prepare for diligence: deck, model, pipeline, margin bridge, velocity benchmarks, category contextAdvice for operators transitioning to investing: network building, warm intros, develop your thesis Episode Links: Rich Products Ventures LinkedIn: https://www.linkedin.com/company/rich-product-ventures/?viewAsMember=true Brian Bernstein — Investor, Rich Products Ventures LinkedIn: https://www.linkedin.com/in/brianbernstein Website: richproductsventures.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.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 (35K+ 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

    47 min
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About

The top CPG podcast in the world, highlighting stories from founders, buyer spotlights, highly practical industry insights - all to give you a better chance at success.

Information

  • Creator
    Startup CPG
  • Years Active
    2020 - 2026
  • Episodes
    393
  • Rating
    Clean
  • Copyright
    © Startup CPG
  • Show Website
    The Startup CPG Podcast

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