LM: Hi Laurel Mintz here, Co-GP of Fabric VC, and this is Oversubscribed. I am so thrilled for our big, big, big announcement. And in fact, I'm gonna have Frank announce this huge, huge news.
FM: The huge news is that Laurel is no longer just a GP of Fabric. She now has a partner in crime moi, as Co-GP of Fabric, and I cannot be any more thrilled to be joining what you've worked hard to build and the infrastructure that you've created for Fabric.
LM: So for those of you who have been joining us along this very long journey, Frank and I met a few years ago, almost three years ago, and we would have cocktails, and we would sit and chat, and we would always say, gosh, we wish we had just started this together. And so we thought, why do we have to wait to do that? And so we're excited that Frank is joining as Co-GP so that we can wrap this fund up at the end of the year. Really, really strongly. And a little teaser alert, we will be launching a much larger fund next year. So, Frank, if you want to share a little bit about your background and what you bring to the table.
FM: Sure, Laurel, thanks. My background is traditional in the accounting and finance role. I worked at Deloitte in the audit department. I worked at Motorola's internal audit, where I got bit by the tech bug. I chose to get my MBA in entrepreneurship and tech at UT Austin, Hook Em Horns, and then, and then luckily, found a startup job right out of school working for a startup in Dallas called match.com which was an amazing ride. It was like riding a bow. Um, and ended up in LA when Barry Diller bought us and, and shortly thereafter launched Punch Financial as an outsourced accounting CFO services firm. Because I kept getting asked by a lot of founders and entrepreneurs and VCs to help them out, um, and then realized that I needed to get more involved in the investing and venture army. And so I started making a lot of small angel investments. And now I'm thrilled to be doing this in a more structured and organized way and in a better way with you at my side.
LM: I'm super honored to have you join. We've been talking about it for a while, and then we're just like, let's, let's do this. So, like, I teased a little bit more about the fund to coming soon, but what I'm most excited about is one of the things that you always say, which is like, one plus one is four. And the two of us bring such incredible operating experience. Maybe four, maybe Six. I don't remember the number you usually get, but something in the more than 2 range. As you know, I bring all this marketing, operating experience, you bring all the financial deeper diligence to the table. So the thought process is really that we're going to be able to not just pick better winners, which was always the thesis, but even more so now we're going to be able to help make them winners with both of our added value. Can you share a little bit more about that value add? And I know we talk about dumb money all the time and how we're really going to change the face of venture.
FM: Yeah, I mean, I talk to founders daily, Laurel, since I'm working with them and on the Punch basis and accounting and finance, and they all say the same thing. It's like, it's great that they have money, but a lot of times they need help problem-solving solving and they don't have an extensive mentor list or, you know or contacts. And so they need someone to just spitball stuff off of. And so we get asked everything from soup to nuts sometimes. And I'm always, sometimes, surprised at what they even ask us before they pull the trigger on. So I think giving that mentor vibe where they feel comfortable coming to their VCs and asking for help and not feeling like they're bothering them and we're not seeing them as incompetent, I'd rather them ask and ask for help and provide that help. Because if I can help them cut a corner and get through something quicker, I'm always happy to do so. And I think that's what's going to make our partnership in fabric unique and stand out because we really are going to be adding value outside of just providing capital.
LM: Well, not only are we going to be adding value to our portfolio, but you are adding so much value to what we've already built at Fabric. The operational efficiencies, the deep financial diligence that you've been doing for way too many years. Just like me, I don't like to name the number anymore. We've been doing this for a long time. And again, I'm just so beyond excited and honored to have you join us. So you want to wrap us up for this exciting announcement?
FM: Yeah, we can't wait to meet each and every one of you. If Laurel hasn't convinced you already to contribute to the fund, then what are you waiting for? Get on the train. We are definitely going to make waves. You're going to hear about us a lot more. As you can tell, Laurel and I have a lot of energy, and we're going to really focus on this next fund, getting out there and really making some strategic investments in growing our existing investments. So we'd love to have you join. I'd love to be part of the family and hope to meet you guys all soon.
LM: Absolutely. And to that end, if you are in the LA, Dallas, San Francisco or New York areas in the next few months, let us know if you are active as an investor. We're doing our last final road show. So, Frank, welcome to the family.
FM: Thank you so much, Laurel. I'm thrilled to be part of the family.
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