Venture capital isn’t just for Silicon Valley insiders. In this episode, you’ll hear how an early VC podcaster turned a lack of deal flow into a nationwide network, built a fund around AI-first companies, and developed a sharp playbook for spotting founders who can go from formation to IPO.
In this episode, Philip and Nick Moran discuss:
- Venture capital vs. private equity and angel investing
- How tech supercycles (internet, mobile, SaaS, AI) reshape venture
- Screening 10,000 deals a year and the six traits of great founders
- Using a podcast to build deal flow, network, and credibility
- Early-stage venture strategy, tax advantages, and staying small for 10x+ returns
Lightbulb Moments:
- Venture capital is largely about backing high-growth, high-margin technology and AI businesses at the formation stage, long before meaningful revenue exists.
- The most compelling founders combine a clear vision with flexibility on how to get there, continuously leveling up their skills and surrounding themselves with complementary talent.
- Strategic content-like a focused podcast-can transform a deal-flow desert into a powerful network engine that surfaces top opportunities nationwide.
- The bulk of value creation in modern technology companies now happens in the private markets, which is why early-stage venture and thoughtful use of provisions like QSBS can be so powerful.
- Remaining intentionally small in assets under management is often the only way a venture firm can realistically deliver true venture-style, top-decile returns to its investors.
“Startups and business building are an endurance game. It’s not a talent game.” – Nick Moran
Nick Moran is the Founder and General Partner of New Stack Ventures. A former M&A and Product Management professional for Danaher, Nick began angel investing full-time in 2013. In 2014, he launched the first Venture Capital podcast, The Full Ratchet, growing it into one of the largest media brands in venture and the top 0.5% of most-listened-to podcasts globally. The networks and deal flow generated from the show led to the founding of New Stack Ventures, which focuses on mission-driven founders outside the Bay Area. New Stack has fast become one of the leading seed funds between the coasts. They have raised over $100M in AUM and are currently investing out of Fund 3.
Connect with Nick Moran:
Website: https://www.newstack.com/, https://fullratchet.net/
LinkedIn: https://www.linkedin.com/in/nick-moran-a738503/
YouTube: https://www.youtube.com/@nicholasmoran3095
Email: team@newstack.com
Connect with Philip:
Website: https://www.fornarolaw.com/
Podcast Website: https://lbmpodcast.com/
Pinterest: https://www.pinterest.com/philipfornaro/
YouTube: https://www.youtube.com/@fornarolaw3002
LinkedIn: https://www.linkedin.com/in/fornarolaw
Instagram: https://www.instagram.com/fornarolaw/
Facebook: https://www.facebook.com/FornaroLaw
https://www.facebook.com/philip.fornaro.3
Podcast Production by Turnkey Podcast. Thinking of starting a podcast? Get more info at https://turnkeypodcast.com/ or reach out to Doug Sandler directly at Doug@TurnkeyPodcast.com or call 410-340-6861.
You’re the expert. Your podcast will prove it.