Don’t Raise VC Money Until You Hear This | Mike Gelb with Shamin Walsh | Consumer VC

Consumer VC: Venture Capital I B2C Startups I Commerce | Early-Stage Investing I Brands | Technology

This episode is brought to you by Highbeam.

Highbeam is the all-in-one banking and cash management platform built for consumer brands – https://www.highbeam.co/capital?partn…

Join host Mike Gelb as he chats with Shamin Walsh, Managing Director at BAM Ventures — the early-stage VC firm behind Thrive Market, Honey, and Cotopaxi.

Shamin breaks down how BAM spots winning startups early, why fund size shapes strategy, and what it really takes to build sticky consumer brands — without chasing unicorn hype.

From AI buzz to price discipline and founder fit, this episode is packed with practical insights for anyone building or backing a consumer company.

🕒 Timestamps

00:00 What Makes AI Actually Valuable

01:22 Intro – Who is Shamin Walsh & BAM Ventures?

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

07:00 Is 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

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