E30: How Kirsten Green Built Forerunner Ventures

This is a special episode featuring an interview between Forerunner Ventures founder Kirsten Green and Turner Novak of The Peel podcast and Banana Capital. The conversation covers Kirsten's journey from her early days in retail investment banking to the creation of Forerunner Ventures, how she thinks of the state of consumer investing, the story behind Dollar Shave Club, how she makes investment decisions, and maintaining strong relationships with LPs.

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RECOMMENDED PODCAST: The Peel Podcast with Turner Novak

Head to The Peel for more of Turner's in depth interviews with great founders and the investors who fund them.

Spotify: https://open.spotify.com/show/3QqtxGHqsPnKTG4CS7NgX5

Apple: https://podcasts.apple.com/us/poddrcast/the-peel-with-turner-novak/id1694440669

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SPONSORS:

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RELATED SHOWS: 10X Capital Podcast

If you like Turpentine VC, check out our show The 10x Capital Podcast with David Weisburd, where David talks to the investors behind the investors: https://10xcapitalpodcast.com/

Sourcery by Molly O'Shea

Sourcery by Molly O’Shea brings the conversations founders and investors have behind closed doors into the light. Subscribe for upcoming episodes with: Delian Asparouhov of Founders Fund and Varda Space, and Chris Power of Hadrian.

Spotify: https://open.spotify.com/show/2Ni3Tese9CtZa3oxpCjgTg

YouTube: https://www.youtube.com/@SourceryVC/

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X / TWITTER:

@kirstenagreen (Kirsten)

@eriktorenberg (Erik)

@turpentinemedia

@turpentineVC

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TIMESTAMPS:

(00:00) Intro

(00:47) Kirsten's Early Career and Retail Insights

(02:40) Consumer Behavior

(03:09) Impact of Discounts

(05:55) Transition from Public to Private Market Investing

(07:07) Journey to Venture Capital

(10:31) Birth of Forerunner Ventures

(11:11) Navigating the Financial Crisis of 2008

(11:15) SPONSOR: ATTIO | BRAVE

(13:04) Overcoming Failure

(27:18) Raising the First Institutional Fund

(40:34) Challenge of Securing LP Money

(41:26) Convincing Investors

(43:11) Story of Dollar Shave Club Investment

(50:50) Fundraising for Forerunner

(59:45) Approach to LP Side of Fundraising

(01:02:06) The Future of Consumer Investing

(01:13:33) Building Relationships with Founders

(01:17:20) Wrap

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This show is produced by Turpentine: a network of podcasts, newsletters, and more, covering technology, business, and culture — all from the perspective of industry insiders and experts. We’re launching new shows every week, and we’re looking for industry-leading sponsors — if you think that might be you and your company, email us at [email protected].