How Amias Gerety Wins in Venture When Others Chase Hype

In this episode, Alex Rawlings speaks with Amias Gerety, Partner at QED Investors, a leading fintech-focused VC firm managing nearly $1B in assets. Amias shares insights on venture capital strategy, staying disciplined during market hype, sourcing deals, and how lessons from his time at the U.S. Treasury shape his investment decisions today.⏱ Episode Highlights:00:00 – Intro & QED Overview QED’s structure, fintech focus, and global reach.01:20 – VC Mistakes & Market Hype The danger of "paying ahead of growth," especially in AI.03:12 – Staying Disciplined Simple metrics and historical heuristics that guide better investment decisions.04:39 – Deal Dynamics in VC vs PE Why proprietary deal flow in VC means getting in early — before companies start raising.07:26 – Hunting vs. Gathering How QED targets specific companies instead of waiting for inbound deals.08:51 – Building Relationships Top-heavy structure means founders speak directly with partners on the first call.14:43 – Using Senior Talent Early Deploying high-value advisors like Capital One co-founder Nigel Morris from the start.16:09 – Biggest Mistake in Venture Ignoring founder misalignment — “If it’s a maybe, it’s a no.”18:25 – CEO Ownership in Startups Why QED avoids deals where founders don’t have control — unlike PE’s model.20:43 – Operating Partners in VC VC success comes from entrepreneurial operators who aim to join portfolio companies.24:31 – Honest Career Advice Be clear about whether you want to be an operator or an investor — ambiguity causes misalignment.25:59 – Treasury Lessons Decision-making under pressure during the financial crisis informs his bold, data-light approach in VC.30:12 – What He Reads Only old books — for timeless thinking and unexpected insights.31:46 – Connect with Amias Reach out via LinkedIn.Amias offers a rare perspective bridging government, fintech, and venture capital — a must-listen for anyone navigating today’s competitive investing landscape.Raw Selection partners with Private Equity firms and their portfolio companies to secure exceptional executive talent. We focus on de-risking executive recruitment through meticulous search and selection processes, ensuring top-tier performance and long-term success.🔗 Connect with Alex Rawlings on LinkedIn: https://www.linkedin.com/in/alexrawlings/ 🌐 Visit Raw Selection: www.raw-selection.comLooking to grow your team? Check out our Hiring Guidesfor proven strategies, templates, and best practices to make smarter hires. 

Episode OverviewIn this episode, Alex Rawlings welcomes Michael Von Bevern, Co-Managing Director for Sunterra Fund Services, to discuss the evolving landscape of fund administration in private equity. Michael shares nearly two decades of experience, working with over 500 fund managers, and offers invaluable insight into common mistakes first-time managers make, the growing role of fund administration, and why outsourcing has become the gold standard for operational efficiency and investor confidence.🔑 Key Discussion Points00:00 – Introduction Michael Von Bevern introduces his role at Sunterra Fund Services and his extensive background in fund administration.01:00 – Common Mistakes First-Time Managers MakeTrying to be overly creative with fund terms and waterfall structures.The importance of staying aligned with industry-standard terms in the first fund.Complexity can hurt comparability for institutional investors.03:00 – The State of Capital RaisingCapital raising is particularly tough right now.Institutional investors require clarity, standardization, and comparability.Advice: Stick to well-known structures and build trust first.04:00 – Why Outsourcing Fund Administration is CrucialFund administration has evolved from an internalized process to a norm for outsourcing.Early resistance was based on trust and control issues.Outsourcing offers scalability, access to high-end tech, and cost advantages.06:30 – In-House vs. Outsourced Fund AdminOutsourced teams can mirror internal teams in quality and responsiveness.Modern fund admin is more than just accounting—it's a strategic enabler.Today, ~80% of PE firms outsource, up from 50% in 2016.09:00 – Why Private Equity Firms Hire from Fund Admin FirmsFund admin professionals gain holistic knowledge: legal docs, accounting, operations, strategy.They're “multi-tools” vs. siloed specialists.Michael celebrates when former team members go on to run their own funds—and even become clients.12:00 – What Makes a Gold Standard Fund Admin?Real-time access to quality data and timely reporting.Transparent, responsive communication.Strong tech + strong people = winning formula.13:30 – The Shift Toward Data AccessibilityGone are the days of black-box reporting.Modern fund admins provide daily access and reconciliations.The focus now is on improving affordability and automation.14:30 – Michael’s RecommendationsReads: Preqin, PitchBook, newsletters.Follows thought leaders like Howard Marks (Oaktree).Active in ILPA and New York's PE ecosystem.16:00 – Market Trends Observed Through Fund AdminFundraising in 2023-24 has slowed, with private credit outperforming PE.Saturation from 2021–22 launches is causing fatigue.Prediction: Q4 2025 to Q1 2026 will see a strong rebound in fundraising.18:30 – How to Reach MichaelWebsite: sunterra.comOpen to DMs and happy to refer prospective clients even if Sunterra isn’t the best fit. 🔗 Connect with Alex Rawlings on LinkedIn: [https://www.linkedin.com/in/alexrawlings/](https://www.linkedin.com/in/alexrawlings/) 🌐 Visit Raw Selection: [www.raw-selection.com](https://www.raw-selection.com) Looking to grow your team? Check out our Hiring Guidesfor proven strategies, templates, and best practices to make smarter hires. 

In this episode, host Alex Rawlings is joined by Joe Basrawy, Managing Director at Partners Capital, a global multi-asset investment firm serving some of the world's most sophisticated investors — including private equity founders, endowments, and family offices.Joe offers a rare and in-depth look at the Limited Partner (LP) perspective — covering common pitfalls private equity firms make, what LPs are really looking for, and how to stand out in a crowded market. He also shares a masterclass on co-investments, including how LPs assess alignment, avoid adverse selection, and punch above their weight in deal flow.This episode is packed with actionable insights for fund managers, deal professionals, operating partners, and anyone looking to better understand what makes a top-performing PE firm in the eyes of institutional investors.⏱️ Timestamps:00:00 – Welcome and guest intro: Joe Basrawy, Managing Director, Partners Capital 01:00 – Joe’s background: From investment banking to multi-asset investing 01:25 – What drew Joe to Partners Capital and what’s kept him there 02:21 – Biggest mistakes PE firms and portfolio companies make 03:15 – Raising too much capital: Overstretching and going off-spec 04:13 – Deal-level diversification: What LPs want to see 05:39 – Co-investing 101: Why it's attractive and the risks of adverse selection 06:37 – How LPs like Partners Capital avoid adverse selection in co-investments 07:33 – Being a reliable and speedy co-investment partner 08:31 – Why LPs say “no” to co-investments — alignment, conviction, and deal partners 09:57 – Referencing employees and internal conviction in deals 10:56 – What makes the best private equity firms? Joe’s four pillars 11:25 – #1: Strategy differentiation – A case study in healthcare PE 13:22 – #2: Value creation edge – Organic growth vs market tailwinds 15:18 – #3: Ownership dynamics – How GP stake sales affect firm culture 17:15 – #4: People – Why leadership and succession planning matter 19:05 – Referencing portfolio executives: The most revealing feedback 20:28 – What LPs learn from talking to portfolio CEOs 21:56 – What LPs look for in fund managers – Discipline, detail, and passion 23:52 – Joe’s reading recommendations – Fiction and finance 25:47 – How to connect with Joe 26:17 – Outro from Alex📘 Recommended Reading by Joe Basrawy:The Children Act by Ian McEwan (also a film adaptation with Emma Thompson)The Money Kings – History of Jewish-American families who founded Wall Street firms🔗 Connect with Joe Basrawy:LinkedIn (search Joe Basrawy)Partners Capital Website Looking to grow your team? Check out our Hiring Guides for proven strategies, templates, and best practices to make smarter hires. 

In this episode, Alex Rawlings is joined by Jeremiah Wanzell, a seasoned consumer brand executive with leadership roles at Hugo Boss and Calvin Klein, and now an operating partner working with private equity firms to drive growth in the consumer sector. Jeremiah shares his insights into the evolving role of the operating partner, value creation beyond financial engineering, the importance of omnichannel strategy, and how consumer-focused PE firms can win in a shifting market.⏱️ Timestamps00:03 – Intro & BackgroundJeremiah's career journey: from Bloomingdale’s to Hugo Boss & Calvin KleinLaunching Growth Mindset Advisors to work with PE firms as a fractional growth officer00:57 – Mistakes Private Equity Firms MakeMisunderstanding or undervaluing the role of the operating partnerValue creation needs real operators, not just consultantsPE firms still testing the waters, especially in the lower/mid-market03:44 – Why the Operating Partner Model Isn’t Universal YetToo often operating partners are brought in post-acquisition — a critical mistakeThey need to be involved from the outset to shape value creation plans05:12 – Case Study: Capizio AcquisitionDeal thesis: investing in niche category leadersBrought the deal to Argonne after another firm passedRole: pre-deal diligence, channel expansion, post-deal advisory07:07 – What Deal Teams MissOverlooking multi-channel retail strategyExamples: Nike’s failed DTC push vs. Allbirds’ slow wholesale expansionOmnichannel is no longer optional09:32 – Industry Shoutout: GrataSponsor mention for proprietary, data-driven PE deal sourcing09:58 – State of Consumer DealsDeal volume down 15% YoY, but deal size upHighlighted mega deals: Skechers ($9B), Dick’s x Foot Locker, Rode BeautyHot sectors: health & wellness, beauty, and digitally native brands11:27 – Tariffs & Pricing StrategyTariff uncertainty is a headwind but affects all brands equallyBrands must have clear differentiation and pricing transparencyExamples: airlines as commoditized vs. a loyal landscaper who passed along cost savings15:14 – Great Retail ExperiencesRetail “theater” matters more than everExamples: Vuori, Lululemon, building community through in-store eventsIt all starts with product excellence17:32 – Evolution of DTC & Shopify’s DisruptionApple iOS14 killed third-party tracking; CAC skyrocketedShopify commoditized eComm site creation → flooded market with undifferentiated brandsStubborn brands (e.g. Allbirds) suffered by not adapting18:59 – Retail Experience ExamplesRetail must build community and be about more than transactionsBrands that create loyalty through events and authentic connection win19:51 – What Jeremiah RecommendsFan of The Private Equity Podcast and Scott GallowayEncourages reading, webinars, and giving back to your network🔗 Connect with Alex Rawlings on LinkedIn: https://www.linkedin.com/in/alexrawlings/ 🌐 Visit Raw Selection: www.raw-selection.com Looking to grow your team? Check out our Hiring Guides for proven strategies, templates, and best practices to make smarter hires. 

🔹 Episode Overview: In this episode, we’re joined by William Quartner, Partner at Prelude Growth Partners, a New York-based private equity firm dedicated to the high-growth consumer space. William shares insights from his impressive journey through investment banking and private equity at firms like Goldman Sachs and TowerBrook Capital, to now helping build Prelude Growth from its inception to the recent close of Fund III. He explores critical investment lessons, the importance of talent, consumer industry trends, and the real-life challenges and rewards of building a PE firm from the ground up.00:00 – Intro to William Quartner  & Prelude Growth PartnersWilliam’s background: Goldman Sachs, TowerBrook, and JP MorganPrelude’s focus: high-growth consumer sectors like beauty, health & wellness, pet, baby, and food/beverageJust closed Fund III – now managing $1.3B in AUM02:24 – Common Mistakes in PE & Consumer InvestingMisunderstanding the type of risk (product, category, brand, execution)Lack of clarity on risk-return profile per categoryUndervaluing the importance of top-tier talent in portfolio companies05:18 – Evaluating Talent and LeadershipDifferences between a great founder/CEO and an average oneImportance of building the right team earlyPartnership model: working closely with founders as a minority investor07:41 – Passion for the Consumer IndustryHow deep focus and passion improve investment intuitionRecognizing industry "tourists" vs committed insidersBenefits of building a tight, focused ecosystem09:39 – Lessons from Goldman Sachs & TowerBrookSeeing institutional rigor and processLearning high-standard due diligence and underwritingWanting to work up the risk curve and help build something from scratch11:29 – The Startup Journey of Prelude GrowthFrom $85M in Fund I (2018) to $600M in Fund III (2025)Early-stage scrappiness and challengesMost rewarding part: building a recognized brand and seeing portfolio companies become category leaders16:55 – Current Consumer Industry Trends & OutlookGrowth brands more insulated from macro headwindsTariff uncertainty and its impact on planningStrategic reshuffling by large CPG players creating investment opportunitiesConcerns around consumer debt and buy-now-pay-later risksLP skepticism toward consumer-focused funds, but Prelude bucks the trend20:35 – Content RecommendationsPodcasts: Pivot (Kara Swisher & Scott Galloway), Acquired, SmartLessBusiness newsletters: Axios Pro Rata, Term SheetSubstack content for niche consumer insights21:32 – How to Connect with William 📧 Email: [email protected]🔚 Closing Thoughts: William offers a masterclass in consumer investing; from risk frameworks and talent strategy to fundraising and sector specialization. His journey from major institutions to entrepreneurial investing highlights the power of clarity, conviction, and cultural fit in PE.🔗 Connect with Alex Rawlings on LinkedIn: https://www.linkedin.com/in/alexrawlings/ 🌐 Visit Raw Selection: www.raw-selection.com Looking to grow your team? Check out our Hiring Guides for proven strategies, templates, and best practices to make smarter hires. 

Guest: Greg Moran – Multi-exit founder, investor, and Managing Partner at Evergreen Mountain Equity Partners Host: Alex Rawlings, Founder of Raw Selection⏱️ Timestamps & Topics00:00 – Introduction to Greg Moran Alex welcomes Greg Moran, a multi-exit founder turned investor, and Managing Partner at Evergreen Mountain Equity Partners. Greg introduces his background in scaling businesses, raising $500M+ in capital, and his current focus on future-of-work technologies.01:29 – Biggest Mistakes in Private Equity & Venture Greg highlights two major missteps:Private Equity: Disrespecting existing leadership and stripping company culture.Venture Capital: Failing to deeply understand a founder's motivations under pressure.03:51 – Behavioral Due Diligence: The Adaptive Innovator Greg explains how Evergreen Mountain uses a proprietary founder archetype model based on studying 100+ founders with multiple 9-figure exits. 📘 Book: The Adaptive Innovator 🔬 Assessment Tool: theadaptiveinnovator.ai06:11 – The Four Pillars of the Adaptive Innovator ModelCreative Resilience – Performing better under pressureBalanced Risk-Taking – Small experiments lead to bold movesHumble Assertiveness – Leading without being the loudest voiceStrategic Accountability – Owning failures and empowering teams09:09 – How the Assessment Works Greg walks through the free assessment's design—competency-based and situational judgment questions that help reveal how founders respond under real pressure.11:37 – From Operator to Investor: The Shift Greg discusses the personal challenge of moving from "solver" to "sounding board" and helping founders overcome small thinking and incrementalism.15:01 – Scaling Requires Talent Transformation Once you think bigger, the next hurdle is team capability. Greg discusses the importance of upgrading talent and how average hires dilute culture and repel A-players.18:26 – “Hire Fire and the Walking Dead” Greg's framework on talent management:Hiring is easyFiring the clearly bad is manageableThe real issue? Keeping the “walking dead” – the average, inoffensive underperformers who drain momentum.20:21 – Coaching Founders Through Tough Talent Calls Greg explains his approach as an investor: gently keeping the conversation alive, helping founders reach the inevitable realization themselves. 🗣️ Anecdote: The "5-second hesitation test" from a former board member.31:27 – Recommended Reading & Interests 📖 The Alchemist by Paulo Coelho – a yearly re-read for Greg 🎒 Outdoor adventure and Alaska documentaries (his son is a bush pilot)32:52 – How to Connect with Greg Moran🌐 Website: gregmoran.me🧠 Assessment: theadaptiveinnovator.ai💼 Fund: emep.io🔗 LinkedIn: Greg Moran📺 YouTube & X (formerly Twitter): Active channels for the docuseries and insights🔗 Connect with Alex Rawlings on LinkedIn: https://www.linkedin.com/in/alexrawlings/ 🌐 Visit Raw Selection: www.raw-selection.com Looking to grow your team? Check out our Hiring Guides for proven strategies, templates, and best practices to make smarter hires. 

🕒 Episode Timestamps & Show Notes00:00 – Introduction Alex welcomes John Dwyer, Founder of The Institute of WOW, to explore how direct response marketing can drive real results for private equity firms and their portfolio companies.00:53 – What is WOW Factor Marketing? John explains his flipped model: get prospects to try your product so they fall in love with your brand—not the other way around. 02:16 – The Power of Incentives Examples like McDonald’s Happy Meals and Kellogg’s cereal toys demonstrate how incentives remove focus from price. Yet, 97% of businesses still fail to use them effectively.03:35 – B2B Application of Incentives John shares how “freemium” strategies—like webinars and educational content—can help service businesses generate leads and build trust.05:25 – The PE Blind Spot: Marketing Marketing is often underutilized at the PE firm level. It’s left to portfolio companies and only becomes a priority at scale ($100M+ revenue). 06:21 – Creating High-Value Content Instead of always documenting, John recommends delivering structured, high-impact content like digital resources to demonstrate expertise and create authority.08:36 – Giving Away IP to Build Trust Sharing ideas freely (within reason) helps firms position themselves as experts. Private equity firms can do the same by publishing their value creation playbooks.09:33 – Case Study: Dental Facebook Contest A $30/day contest targeting parents of kids with crooked teeth generated 1,000+ leads in a week—demonstrating the power of a well-crafted incentive-based campaign.12:43 – PE Deal Origination via Events John recommends PE firms host webinars or in-person events to share their expertise and attract business owners—selling “once to many” like Tony Robbins.14:11 – Thinking Beyond Traditional Marketing John suggests PE firms partner with data providers or influencers to host educational events. Joint ventures and revenue-share models can scale reach efficiently.17:27 – Turnkey Marketing & Strategic Partnerships From travel vouchers to million-dollar contest giveaways, John shares how creative incentives combined with strong partnerships can produce scalable campaigns.19:10 – Using AI for Lead Generation John discusses how AI-powered voice bots deliver high-volume outreach, sharing relevant data like estimated home values—ideas that can inspire new B2B tactics.21:57 – Hiring Great Marketers John stresses the importance of case studies and results over resumes. Look for marketers who can think outside the box and prove success with real-world campaigns.24:21 – Purple Cow Thinking in Action A standout example: A building society offered free holidays for mortgage customers and later added Jerry Seinfeld to the campaign—resulting in billions in new loans.26:42 – Books & Resources John recommends The Purple Cow by Seth Godin. He prefers audio content and real-world business insights over fiction.28:04 – How to Contact John 📩 Email: [email protected] 🌐 Website: theinstituteofwow.com🔗 Connect with Alex Rawlings on LinkedIn: https://www.linkedin.com/in/alexrawlings/ 🌐 Visit Raw Selection: www.raw-selection.com Looking to grow your team? Check out our Hiring Guides for proven strategies, templates, and best practices to make smarter hires. 

Episode Summary: In this insightful episode, Alex Rawlings is joined by Brett Hickey, the CEO and founder of Star Mountain Capital. Brett shares his unique journey from humble beginnings in Northwestern Canada to leading a multi-billion-dollar asset management firm in the U.S. With deep reflections on leadership, value-based investing, building collaborative ecosystems, and what truly drives sustainable success in private markets, this is a masterclass in private equity thinking.Brett also discusses the strategic opportunities in the U.S. lower middle market, the implications of aging demographics, his risk-aligned investment strategy, and the power of culture in scaling a firm. If you're looking to understand how to build a high-performing investment organization from the ground up—and what books, frameworks, and philosophies support that—this episode is essential listening.⏱️ Episode Highlights & Time Stamps:00:00 – Welcome and Introduction to Brett Hickey 00:41 – Overview of Star Mountain Capital and its focus on U.S. lower-middle market private credit, secondaries, and private equity 01:12 – Key mistake PE firms make: passive asset management vs. active value creation 03:08 – Aging demographics as a key investment opportunity 04:05 – Valuation arbitrage in lower middle market businesses 05:05 – Reflections on a possible downturn: macroeconomic risks and “air pockets” 07:59 – Aging populations and structural economic concerns 09:53 – The importance of cash flow and capital protection 10:21 – Brett’s entrepreneurial journey – from launching his first fund at 26 to building Star Mountain Capital 12:41 – The S-shaped growth curve and persistence through innovation 13:40 – Brett’s data-driven approach to strategy and decision making 15:35 – Why aging demographics and inefficient markets create opportunity 17:08 – Biggest challenge in building the firm: People 19:30 – Aligning team culture and expectations through transparency and shared values 20:57 – Why Star Mountain is 100% employee-owned – benefits and challenges 22:54 – Building trust and long-term alignment through ownership 24:45 – Observations on asset management failures and strategic missteps 25:44 – What is the Collaborative Ecosystem and how it drives results at Star Mountain 27:34 – How peer networks like EO and YPO influenced the firm’s internal culture 28:31 – Leveraging insights between secondaries and direct investments 29:59 – Case studies, adjusted EBITDA, and forensic underwriting 31:18 – Using real business alignment as a differentiator in competitive deal processes 33:13 – Recommended reading: Brett’s top books and content on leadership and execution 33:41 – Never Lead Alone by Keith Ferrazzi 34:37 – Agility by Leo Tilman and General Chuck Jacoby 36:54 – Harvard Business Review and Rob Kaplan’s work on leadership 38:48 – Principles by Ray Dalio and how it influences Brett’s thinking 39:18 – A practical tip: triangulating decisions with deep experts 41:13 – Final reflections on value investing, risk management, and staying grounded 42:09 – How to get in touch with Brett and Star Mountain Capital 42:38 – Wrap-up and takeaways from Alex🔗 Connect with Alex Rawlings on LinkedIn: https://www.linkedin.com/in/alexrawlings/ 🌐 Visit Raw Selection: www.raw-selection.com

🧠 Episode Summary: In this insightful episode, Alex Rawlings is joined by Brian Reavell, Founder of R-Squared Advisors and seasoned Private Equity Operating Partner, to dive deep into the world of go-to-market (GTM) strategies. Brian shares a comprehensive GTM playbook for PE-backed portfolio companies—spanning from due diligence and customer segmentation to talent evaluation and post-investment execution.With over two decades of commercial leadership and consulting experience, Brian explains why private equity firms often overestimate internal talent, underestimate customer orientation, and misalign incentives—leading to missed growth targets. Packed with case studies and actionable frameworks, this episode is a goldmine for anyone looking to drive scalable and sustainable sales growth within a PE-backed environment.⏱️ Timestamps:00:00 – Introduction to Brian Reavell and today's GTM focus 01:26 – Common mistakes PE firms make around organic growth assumptions 03:21 – The three critical GTM pillars: Ideal Client Profile, Talent, and Segmentation 05:38 – Why talent is the most overlooked area in due diligence 08:00 – Assessing sales talent beyond resumes and black books 09:28 – Quantitative vs. qualitative approaches to evaluating salespeople 11:20 – EQ, IQ, and AQ: The key characteristics to assess in talent 13:18 – Building a GTM strategy post-investment: Process & execution 14:45 – Case Study: GTM transformation in a $4B building products distributor 16:56 – Impact of role design and customer segmentation on profitability 18:50 – $500M top-line and $100M EBITDA opportunity unlocked 20:42 – Managing change in founder-led businesses 23:07 – Overcoming resistance at field and leadership levels 24:53 – Case Study: Cultural and GTM integration in a K-12 education platform 27:43 – Creating flexible but standardized playbooks 29:35 – Assessing and top-grading sales and marketing leadership 31:02 – Succession planning and commercial leadership turnover 32:54 – What creates board-level confidence in GTM leaders 33:52 – Brian’s top reading and learning resources 35:19 – The First 90 Days, AI, and making tech an enabler 36:17 – How to connect with Brian Revelle📚 Resources Mentioned:Winning Moves & Intelligent Equity by Dan KreminsThe First 90 Days by Michael WatkinsChatGPT and AI tools for sales enablement and productivity📨 Connect with Brian Reavell: Email: [email protected] Company: R-Squared Advisors (not linked in transcript, assumed domain)Raw Selection partners with Private Equity firms and their portfolio companies to secure exceptional executive talent. We focus on de-risking executive recruitment through meticulous search and selection processes, ensuring top-tier performance and long-term success.🔗 Connect with Alex Rawlings on LinkedIn: https://www.linkedin.com/in/alexrawlings/ 🌐 Visit Raw Selection: www.raw-selection.com Looking to grow your team? Check out our Hiring Guides for proven strategies, templates, and best practices to make smarter hires. 

🔍 Episode Overview:In this episode, Alex Rawlings is joined by David Rowley, Operating Partner at Diversis Capital, to explore how private equity can drive value creation through smarter product strategies and the integration of artificial intelligence. With a career spanning back to the 1980s in software product development, David shares practical insights into aligning executive teams with PE theses, building agile innovation pods, and how AI is transforming both product development and organizational structures.💡 Key Discussion Points:The Critical Role of Alignment: David highlights that one of the most frequent causes of failure in portfolio companies is a lack of alignment between leadership and the PE firm's investment thesis.Product Strategy Framework: Distinguishing between goals, vision, and strategy, David explains his approach to creating adaptive product strategies optimized for optionality and driven by data.AI’s Evolving Impact: David discusses how AI is reshaping product development, comparing the current inflection point to the rise of agile methodologies in the early 2000s. He introduces the concept of small, highly-focused “cocktail party” innovation pods to build and iterate rapidly.Scaling Innovation Across Portfolio Companies: He emphasizes the need for organizational models that support rapid, creative innovation while maintaining core operations—balancing “keeping the lights on” with breakthrough work.Grassroots AI Adoption: David shares how he's cultivating a culture of experimentation across Diversis’ portfolio companies, allowing individual contributors to explore AI tools, sparking internal champions and grassroots innovation.Avoiding AI Hype Distractions: With AI now included in many value creation plans, David outlines how to distinguish between superficial use cases and those that drive meaningful operational improvements.Leveraging CTO Experience as an Operating Partner: David reflects on how his hands-on CTO background across multiple sectors enhances his intuition and effectiveness in the PE world—particularly when decisions must be made before data is complete.Trends in the Operating Partner Role: From a recent operating partner forum, David notes the growing trend of more hands-on involvement from operating partners, suggesting a broader shift in private equity away from consultants and toward in-house expertise.⏱️ Timestamps:00:00 – Introduction to David Rowley and today’s topics 01:28 – Biggest mistake PE firms make: lack of leadership alignment 02:50 – Defining product strategy vs. goals and vision 05:10 – Key indicators for pivoting product strategy 06:32 – How AI is changing product development structures 08:55 – Traits and structure of high-performing innovation teams 10:42 – Balancing innovation pods with ongoing operations 12:31 – David’s early exposure to AI (40 years ago!) 14:52 – Deploying AI across portfolio companies 16:44 – Using AI agents in business operations 17:39 – Avoiding AI distractions and integrating AI into value creation 20:00 – Testing leadership alignment through AI transformation 21:14 – From CTO to operating partner: Lessons and intuition 23:08 – Takeaways from the Operating Partner Networking Forum 24:58 – Trend toward in-house expertise and interim CTO roles 25:51 – How to connect with David 26:20 – Wrap-up and final thoughts Looking to grow your team? Check out our Hiring Guides for proven strategies, templates, and best practices to make smarter hires.