175. From Operator to Accelerator MD to Fund Manager (John Fein)

The Full Ratchet (TFR): Venture Capital and Startup Investing Demystified · Nov 21, 2018 · 47m

John Fein of Firebrand Ventures joins Nick to discuss From Operator to Accelerator MD to Fund Manager. In this episode, we cover:

So you participated in 5 startups, after which you scaled an organization from zero to 1,500 employees and $2B/year in revenue. Talk about your background and experience at United Health.

Tell us a bit about your decision to raise a fund.

When I started raising fund I, I had calls w/ 30+ GPs and my target was $5M but I told him, under no circumstances would I raise more than $10M, even if things went really well. He responded that the difference between a $5M and a…