E82: Fundraising in Bear Markets: How Nichole Wischoff Closed $50M [How I Invest]

This week on Turpentine VC, we’re dropping an episode from David Weisburd’s “How I Invest Podcast” with Nichole Wischoff of Wischoff Ventures. Nichole discusses her impressive $50 million fundraise, closed in a bear  market, sharing her strategy, brand-building efforts, and tips on leveraging social media to attract investors.

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RECOMMENDED PODCAST:

🎙️How I Invest with David Weisburd 

Apple Podcasts: https://podcasts.apple.com/us/podcast/how-i-invest-with-david-weisburd/id1697772657 

Spotify: https://open.spotify.com/show/2MHgyKMmJgznPI66MLxZfC

YouTube:https://www.youtube.com/channel/UCncFI0XEvTu7k4er6BgVN9g

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LINKS:

Wischoff Ventures: https://www.wischoff.com/

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X / TWITTER:

@NWischoff

@DWeisburd

@eriktorenberg

@TurpentineVC

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TIMESTAMPS:

(00:00) Intro

(00:35) Nichole Wischoff’s $50 million fundraise

(01:46) Building a brand and distribution

(02:50) The power of media in venture capital

(05:21) Fundraising strategies and challenges

(13:50) Sponsors: Oracle | Squad

(17:01) Leveraging relationships and networks

(22:39) Building a Twitter following

(29:37) Conclusion and contact information

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HIGHLIGHTS FROM THE EPISODE:

• Nichole Wischoff raised $50 million for her fund in five months during summer 2024's tough market.
• Her strategy focused on a first close of 50% by May and final close in August, creating momentum.
• Performance matters: her previous funds were top decile performers, providing essential credibility.
• $38.5M of the $50M came from just six LPs, with Sendona anchoring at $15M.
• Brand building through social media gave her the ability to "get on the phone with anyone" after two years.
• She got everyone in the data room simultaneously with a clear timeline, creating competitive pressure.
• After securing first close, she emailed everyone still in the pipeline to create urgency and force decisions.
• For social media success, she recommends authentic opinions and willingness to be wrong publicly.
• She narrowed relationships from 50 fund managers down to 8-10 truly trusted partners (the 80/20 rule).
• Always fundraise when you need capital, not based on market timing or what other GPs say.