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Tank Talks By Ripple Ventures

By: Ripple Ventures
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  • Summary

  • Join your host, Matt Cohen, Founder & Managing Partner at Ripple Ventures for weekly conversations with leaders in the startup ecosystem discussing the truth about investing, building and running startups.

    tanktalks.substack.com
    Matt Cohen
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Episodes
  • The Journey to CEO with Rob Kumer of KingSett Capital

    The Journey to CEO with Rob Kumer of KingSett Capital
    Jun 6 2024

    This week, we welcome Rob Kumer, CEO of KingSett Capital, to share his journey from Analyst to CEO, the evolution of KingSett Capital, and the strategic moves that have shaped the firm into a $17 billion private equity real estate powerhouse.

    Rob provides insights into the impact of global experiences on his career, the challenges and opportunities of zero-carbon buildings, and the future of office spaces amid market bifurcation and work-from-home trends.

    About Rob Kumer: Rob Kumer is the Chief Executive Officer of KingSett Capital.

    As the chair of KingSett’s Investment Committee, Rob oversees new investment activities, shapes the project finance strategy, and steers the mortgage lending business. His leadership extends to chairing the Management Committee, where he ensures the ongoing implementation and oversight of the firm’s business strategy.

    Rob's academic background includes a degree in Honours Business Administration from the Ivey Business School at Western University, where he also serves on the Advisory Board. Beyond his professional achievements, Rob is dedicated to community service as a director of the Sinai Health System Foundation in Toronto.

    In this episode, we discuss:

    (01:19) Rob shares his career path from growing up in Toronto to becoming KingSett Capital's CEO

    (03:12) His early career in real estate development and his tenure at RioCan

    (04:45) His decision to join KingSett Capital and John Love's influence on his career trajectory

    (11:50) KingSett Capital's growth and diverse investment strategies emphasizing successful capital raising

    (17:55) The creation of the urban infill fund and its strategy of acquiring key street corners in Toronto

    (23:44) KingSett's strategic decisions during the early months of the pandemic

    (29:47) Insights into the current state of commercial real estate and the impact of rising interest rates

    (30:34) Market bifurcation and the future of office spaces, with a focus on Toronto

    (33:12) The performance of AAA office buildings versus lower-tier properties

    (37:36) The continued evolution of office space design to meet changing needs

    (43:26) The challenges and value creation opportunities in achieving zero-carbon buildings

    (48:56) Rob’s views on the proposed capital gains decisions in Canada and their potential investment impact

    (54:09) The importance of building relationships for success in both personal and professional life

    Fast Favorites

    🎙 Favorite Podcast: Making Sense Podcast with Sam Harris

    📰 Favorite Newsletter / Blog: DealBook by Andrew Ross Sorkin

    📲 Favorite Tech Gadget: AutoDrive in his car, his bicycle

    📈 Favorite New Trend: Neckties and working from the office

    🤔 Favorite Life Lesson: Make relationships

    Follow Matt Cohen and Tank Talks here!

    Podcast production support provided by Agentbee.ai



    This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit tanktalks.substack.com
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    55 mins
  • Private Equity Insights: Strategic Growth with Nolan Bederman of Bederman Capital

    Private Equity Insights: Strategic Growth with Nolan Bederman of Bederman Capital
    May 30 2024

    This week's guest is Nolan Bederman of Bederman Capital discusses the evolving landscape of private equity, emphasizing the importance of strategic growth, innovation, and building strong management partnerships. He highlights the need to balance technology and business operations, address regulatory challenges, and prioritize psychological insight in investment decisions. Bederman also critiques the Canadian regulatory environment, calling for a more supportive approach to entrepreneurship to drive productivity and economic growth.

    About Nolan Bederman:Nolan Bederman is the Executive Chair of the Lifespeak and is also the founder and managing partner of Bederman Capital Corp., a private equity business focused on investing in North American growth companies.

    In 2017, he formalized a partnership with New York-based Reynolds Channel Capital Partners, a private equity fund focused on making similar investments.

    Before founding Bederman Capital Corp., Nolan was a co-founding partner of Genuity Capital Partners, a mid-market private equity fund, where he spent almost ten years leading numerous successful private equity investments. Prior to joining Genuity, Mr. Bederman was an Executive Director in private equity at CIBC Capital Partners. Mr. Bederman was also a Vice President in the US Mergers & Acquisitions group of Merrill Lynch & Co., where he focused on advising global companies in the capital/consumer goods, transportation, food, and pharma sectors.

    He graduated with a combined JD/MBA program from the University of Toronto and a BA (Econ.) from the University of Western Ontario.

    In this episode, we discuss:

    (01:00) Career Transition and Private Equity Beginnings

    (02:25) Building and Growing Businesses

    (04:00) Notable Investments and Lessons Learned

    (08:13) Challenges and Learning from Failures

    (11:00) The Role of Trust in Private Equity

    (15:22) Engagement in Companies and Private Equity Dynamics

    (20:14) Psychology in Private Equity

    (25:17) Private Equity Landscape Changes

    (29:00) Advice for Aspiring Private Equity Professionals

    (34:35) Technological Innovation and Business Strategy

    (41:11) Mental Health in the Workplace

    (45:52) Impact of Canadian Economic Policies

    Fast Favorites

    🎙 Favorite Podcast: Bill Maher's Club Random, Scott Galloway's Pivot (with Kara Swisher), Dan Carlin’s Hardcore History

    📰 Favorite Newsletter / Blog: Fast Company, Inc.

    📲 Favorite Tech Gadget: Miele coffee maker

    📈 Favorite New Trend: Walking while on conference calls

    📚 Favorite Book: The Birth of Loud by Ian S. Port (story of Leo Fender and Les Paul)

    🤔 Favorite Life Lesson: Treat everyone with respect, regardless of their position.

    Follow Matt Cohen and Tank Talks here!

    Podcast production support provided by Agentbee.ai



    This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit tanktalks.substack.com
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    58 mins
  • Clutch CEO Dan Park on Resilience & Leadership in the Face of Adversity

    Clutch CEO Dan Park on Resilience & Leadership in the Face of Adversity
    May 23 2024
    On this week’s episode, we welcome back Dan Park, CEO of Clutch, for his second appearance. Dan shares how his team navigated the recent downturn in the startup world and the valuable lessons they learned from the experience.Since his last visit in October 2021, Dan and his team faced significant economic turbulence in the tech and automotive ecosystems. After securing a $100 million Series B and $150 million in debt financing, Clutch had to make tough decisions, including a 30% reduction in workforce. Dan walks us through these pivotal moments, discussing the strategies Clutch employed to adapt its business model and maintain trust with customers and employees.Additionally, Dan offers insights on managing investor expectations during turbulent times and how Clutch is positioned today, achieving record growth despite the challenges.We also have John Ruffolo back to discuss the news!Now, let’s jump into the Tank with Dan Park from Clutch.A word from our sponsor:The team at Ripple is always focused on helping our founders and portfolio companies find the best partners to work with within the tech and venture capital ecosystem. And that is why we are so excited to announce our partnership with the incredible team at Torys LLP. When it comes to legal support and advice, the team at Torys is the best in class. Torys is a storied Canadian law firm with offices in Toronto, Montreal, Calgary, Halifax and New York City. Torys has been around since its founding in 1941.They have always worked closely with players across the emerging startup ecosystem in all aspects of the creation, acquisition and commercialization of businesses. They help founders determine when and how much to fundraise, how to achieve the right economic structure, how to think about board and control issues and how to successfully navigate different stages of growth. They are also advisors to VC funds, strategic investors, private equity funds and other institutional investors on fund formation and shareholder arrangements to buyouts and other exits.In fact, Torys recently acted as counsel to Maverix PE on the transformative $260M Miovision Technologies growth funding with an advisory team that included Dany Assaf, Konata Lake and Max Schwartz-Labell on that investment.So whether you are negotiating a new business arrangement or developing a new service offering, Torys helps clients seize new opportunities and build creative, market-leading business models in this fast-paced world we live in every day space.Visit torys.com to learn more.About Dan Park:Dan is CEO of Clutch, an online platform for car buying and ownership. Prior to Clutch, Dan was GM & Head of Uber Eats Canada. During his time at Uber, Dan led the growth of Uber's food delivery platform in Canada. Previously, Dan was a Venture Partner at Azure Capital Partners and led the firm’s Canadian investment efforts.In this episode, we discuss:(02:18) John Ruffolo discusses the potential of AI to solve productivity losses and the challenges of enterprise adoption.(06:12) Intellectual Property in AI Development including data scraping issues and the need for regulatory frameworks(09:31) Stability AI's Downfall and the broader implications for the AI industry, including the challenges of profitability and competition(14:32) Toronto's Office Vacancy Crisis and its impact on property valuations, and the financial health of Canada's largest pension funds(20:00) Dan provides a background on Clutch's business model and the strategic adjustments made to navigate economic challenges, including reducing geographic footprint and focusing on profitability(26:30) The experience of facing economic turbulence, including the shift in market sentiment and the need for rapid strategic changes.(30:04) How Clutch maintained customer trust and transparency during challenging times and insights gained from customer feedback(35:56) Clutch's investment in technology, including AI-powered pricing models and internal tooling, to enhance efficiency and customer experience(41:16) Dan shares his vision for the future of the online used car marketplace, predicting increased e-commerce adoption and leveraging AI for better pricing and customer service(52:24) Advice to entrepreneurs on handling stress, seeking support, and making tough decisions during challenging timesFast Favorites🎙 Favorite Podcast: WorkLife by Adam Grant and All-In📰 Favorite Newsletter / Blog: The Peak📲 Favorite Tech Gadget: Oura Ring📈 Favorite New Trend: Lower use of phones in schools and people focused on reducing screen time📚 Favorite Book: "Endurance" by Alfred Lansing and "Into Thin Air" by Jon Krakauer🤔 Favorite Life Lesson: "Do things for the stories" - the value of experiences and learning through challengesFollow Matt Cohen and Tank Talks here!Podcast production support provided by Agentbee.ai This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit...
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    1 hr
Leadership Economics Personal Finance
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