Episode #341 of The VentureFizz Podcast features Somak Chattopadhyay, Managing Partner at Armory Square Ventures.
Yes, markets like the Bay Area, NYC, and Boston get a lot of attention when it comes to building startups and having the ability to raise capital, but there are lots of other places to build a successful company. This has always been the case, but the pandemic definitely pushed this reality further.
This is why a firm like Amory Square Ventures exists. There are lots of secondary markets where entrepreneurs need access to capital and it is also a very important matter for the local economy for these companies to grow and create jobs, versus relocating.
Somak shares the details of what led him down the path to start Armory Square Ventures, a seed and early stage venture fund, and why their approach of investing in seconday markets has not only been a differentiator for their firm but what they also consider as an optimism engine and a community catalyst for regions outside Silicon Valley.
In this episode of our podcast, we cover:
- Advice on how founders can push back on advice from investors.
- Somak’s background story and his early career in startups.
- How he landed in venture capital at Edison Ventures and Tribeca Venture Partners.
- The details on what they are targeting for investments and portfolio company examples like Machinery Partner and ACV Auctions, a Buffalo company that went public.
- Somak’s anti-portfolio, companies that he reviewed and an investment didn’t work out and went on to be a successful company.
- Advice on building a marketplace.
- And so much more.