Nick Cromydas

I spoke with Christien Louviere of BDE Capital about his journey from a $330mm exit to becoming an independent sponsor. Christien shared excellent insights for folks looking to partner with business owners, rather than buy sellers out completely. Below are a few of the topics we covered: - Why he moved from “zero-to-one” startups to a buy-then-build strategy - How Christien's background shaped a focus on growth vs. cost-cutting - Why 20–40% rolled equity is central to his deal structures—and how it builds trust with sellers - Using scenario analysis with AI tools to evaluate management teams and uncover hidden key-person risks - How to identify when a $3–5M EBITDA company truly has a middle management layer—or is still founder-reliant For anyone investing in or buying small businesses, Christien’s approach provides a fresh lens on growth, alignment, and deal structuring. 🎥 Watch the full interview here → https://lnkd.in/ekfkaiej 🎧 Listen on Spotify: https://lnkd.in/e86Agx6V

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I’m thrilled to officially announce our $3M seed investment in Propel People, a company we built inside the 1848 Ventures studio to tackle one of the biggest challenges facing the #construction industry today: the skilled #labor shortage. For small and medium-sized contractors, hiring isn't just a challenge. It's the number one threat to their growth, profitability, and safety. With 94% of contractors struggling to find qualified workers, it’s clear that traditional hiring methods aren't built for the trades. That’s why we built Propel People. It’s a mobile-first, AI-powered hiring platform designed for how construction actually works: in the field. By leveraging smart candidate ranking, instant #SMS-based screening, and a fully #bilingual interface, Propel helps contractors build great crews faster and more efficiently. I’m also thrilled to formally announce that industry veteran Dexter Bachelder is at the helm as CEO. Having worked with Dexter and the team over the last few months, we've already seen the impact of his leadership. His 25 years of experience scaling construction tech companies will be instrumental as Propel People enters this initial stage of growth. This investment reinforces our core thesis at 1848 Ventures: building AI-native companies that solve fundamental pain points for the #SMBs that form the backbone of our economy. A huge congratulations to Dexter and the entire Propel People team on this milestone. We are incredibly proud to partner with you to support the people who build our world. Read the full announcement below. #constructiontech #venturecapital #seedfunding #ai #skilledtrades #smb

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If you’re a founder building a company in complex or industrial markets, the most aligned CVCs are often the legacy, industry-rooted ones (many of them based right here in the Midwest). These are groups that want to pilot, deploy, and actually change how the business operates. When a corporation leverages their venture program designing it for real integration and applied learning, everything moves faster...for everyone involved. Read the full article on StartMidwest: https://lnkd.in/g8qWkUNN

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Closing the Deal: Lessons from Mill and Matt Rogers Mill's partnership with Amazon and Whole Foods exemplifies the strategic alignment essential for a startup's success in today's competitive landscape. Matt Rogers emphasizes the importance of understanding your partners’ values and aligning your mission with theirs. At ElevenX Capital, we recognize that strategic partnerships can amplify growth and innovation. How do you evaluate potential partnerships to maximize value in your portfolio? #investing #innovation #venturecapital #entrepreneurship

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Rides2U, one of Beckett Industries' portfolio companies, continues to scale with the launch of its product and service at the University of Michigan. Another step in its strategic rollout across college towns nationwide.   Built for safe, reliable, reservation-based transportation, Rides2U focuses on community trust and predictability, not random availability. Each ride is pre-scheduled, every driver vetted, and the experience designed for peace of mind — especially for students, parents, and campus communities.   In a category driven by speed, Rides2U is winning on safety, reliability, and community connection, becoming the trusted mobility platform for markets the big players often overlook. #ridesafe #rideshare #annarbor University of Michigan University of Michigan - Stephen M. Ross School of Business

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At Venture Investors Health Fund we have experienced the impact that funds of funds (FoF) can have on capital availability. Our first experience was with the Venture Michigan Funds, two state sponsored funds of $95M and $120M. That’s big enough to make a large enough commitment to justify opening an office in the state (at least $15M). The idea was to attract experienced firms from out of state and their syndication networks. The commitment couldn’t be more than 25% of a fund and the funds had to invest at least that amount in Michigan. It worked. They stopped collecting data in 2018, but by that time, the funds had invested $264M in 56 Michigan companies. Through syndication, total invested was $1.71B (6.45x). VMF 1 returned 1x by 2018, and VMF 2 was 3x. Annual economic impact had grown to $303M. That data was before HistoSonics, Inc. got FDA approval triggering its meteoric rise. The company may have never gotten off the ground without VMF. Series A had 5 funds, 4 from Michigan, 3 of which opened a MI office because of VMF. Badger Fund is also State funded, but the first fund was only $25M, so they pursued a different strategy of helping launch first time funds, resulting in new funds across the state. We need that too, and it has impacted the number of funds and companies able to get VC backing. NVNG Investment Advisors, LLC is a private effort targeting corporate investors. We need more participants in the asset class, but small institutions and companies can’t always make the scale of investment to get diversification or hire the in house expertise for fund selection. A FoF like NVNG provides that. All different, all playing important roles. To be an Exempt Reporting Advisor, 80% of investments need to be directly into companies, precluding FoFs. The DEAL Act would lower the threshold to 50%, so a FoF that did 50% direct co-invest could qualify, lowering the barrier to formation. Ask Congress to make that happen.

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AI for CFOs and operations teams that can illuminate the business equation and optimize it. AI for health systems that helps them with everything from claims to better care. The next wave of multi-billion-dollar companies will be built around ideas like these. That’s why Felicis just published our first-ever Call for Startups. We’re eager to meet founders who see what others miss. These are the areas capturing my imagination. Whether you fit here or you're inventing something new, I'd love to hear from you.

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🥾 #bootstrapping as a mindset should be ephemeral, one that requires a deliberate transition away from as a business enters sustained growth Appointing an established auditor is often regarded as a luxury and not part of bootstrapping Audits discipline a business - to be methodical, thorough and deliberate - traits that acquirers often seek in due diligence After all, "What gets inspected, gets respected," Anon We will share the traits of venture businesses sought and respected by MNC acquirers, join us if your business is out of the #bootstrapping mindset #fulfillingpotential #hepmil #oobmil

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Function Health announces their $298M Series B, to help us all live healthier, happier and longer. “It is not good enough to be in a world where AI exists and not be applying it to your health,” Jonathan Swerdlin, CEO and co-founder of Function, told TechCrunch. You should be able to manage your biology. The objective of Function Health is to apply the best available technology to human health.” https://lnkd.in/esCkcFsn Okeanos 🚀🚀

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It is incredible what care.fi has built - an OS for healthcare players —unifying RCM, claims intelligence, and embedded finance into a single execution layer. Welcome to July Family, Care.fi

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