Luke Vernon (Ridgeline Ventures) - Why family offices are great investment partners for brands, investment timelines and do brands need product innovation to succeed?

My guest today is Luke Vernon, Managing Partner of Ridgeline Ventures. Ridgeline Ventures is an independent investment group that provides founders and brands a unique alternative to traditional investment firms. Some of their investments include Cotopaxi, Bobo’s, OROS, and Pro’s Closet. Previously he was the CEO of Eco products, which he grew from $1mm to $80mm. We discuss his learnings as an operator, why he invests in consumer brands where other investor interest has softened, the benefits of being a family office and how he thinks about investment timelines. What were three of your biggest learnings growing Eco Products from $1mm to $80mm? Since you also started Luke’s Circle and helps companies find talent, what is the key to hiring the right people? After Eco Products sold, what eventually got you thinking of becoming an investor? How did Ridgeline Ventures form? Why doesn’t Ridgeline take outside capital? There’s been alot of funds that have pivoted or moved away from investing in consumer brands. What are the opportunities that you’re focused on? What’s your due diligence process? Pricing strategy in each channel How to scale the operations of the business How long does it take to scale? Food manufacturing Self manufacturing Great vehicles to finance CAPEX What were some of your learnings during COVID? How can a board provide value to a company? What’s one thing you think is overlooked when investing in consumer businesses? What’s one book that inspired you personally and one book that inspired you professionally?Endurance by Ernest Jackelin Blue Ocean Strategy What’s the best piece of advice that you’ve received?

Om Podcasten

The Consumer VC takes a look into early-stage consumer investing and venture capital. If you are interested in learning about consumer trends, have a b2c business and interested in learning about the fundraising process at the early stage, you have come to the right place. Mike interviews some of the top venture capitalists in the world that focus on B2C and consumer type companies or have a deep track record investing in these categories such as marketplaces, SaaS, social, CPG and non-tech subscription. Mike also interviews founders that are building some of the most disruptive consumer facing companies in the world. The conversation usually includes the insight the founder discovered, fundraising strategy, and the pitch. This podcast also includes bonus episodes. Each bonus episode dives into a particular subject that might not have to due with the fundraise or venture capital, but still would be helpful to founders. For example, a bonus episode on brand strategy or how to construct a board of directors. All bonus episodes will be clearly labeled. For all episodes, please visit www.theconsumervc.com. For updates, you can follow @mikegelb on Twitter.