Cosimo Leipold

Some more insight into what we are building at Aerodome 📈🚀

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I find it hard to believe that with millions of EVs entering the market and the proliferation of AI compute that PGE is actually going to have excess capacity in 2040 without any additional generation from 3rd parties. I am also curious if there are enough transmission lines and if PGE views that as someone else’s problem. Maybe they are planning on AI and ACTUAL figuring it all out! https://lnkd.in/gybsMmaw

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Listen to a frank conversation with the CEO of Albers Aerospace, the fastest growing engineering company in the US according to Inc. magazine; John Albers and I discuss the US defense industrial base and defense technology's challenges ahead. #nonbetaalphapodcast #albersaero #irongatevc #21stcenturyconflict #supplychain #industrialpolicy #americanmade #warfighterready

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Today I want to put the spotlight on Arelys Sosa, Thomas Tingelöf and Kent Moore who are the amazing founders of DREV.🔦 The problem they are tackling is that battery gigafactories, semi-conductor factories, and battery recycling plants face big challenges collecting hazardous metal micro-particles, slowing production, and they are squandering precious materials, and endangering staff. These are all individually big problems and combined this is huge.☣️ Drev has the solution to all to this with The Vault, an innovative technology powered by patent-pending dry brush technology and a revolutionary canister design, eliminates water and chemicals from the cleaning process, improves safety, and enables the adaptive reuse of valuable materials that would otherwise be thrown away with save manufactures millons. 🧹 The Drev team has the unique domain experience for solving a particular problem that we're always looking for when we are backing founders at the Norrsken Accelerator. Arelys is an industrial engineer who was part of the original team at Panasonic Energy at Tesla’s Gigafactory 1 so she has seen this problem first hand for years. Thomas has a PhD and he has been the CTO of PowerCell and VP at Volvo Cars and has massively scaled technologies before.🤩 The interest from the industry is huge and they are currently running projects with some of the leading battery manufacturers. You can read more and contact them here: https://lnkd.in/d7V-mKrx

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Ryan Sullivan launched a new career in his late 40s. The self-described risk averse entrepreneur is acquiring small legacy manufacturing businesses across the US — and it's going well. His first acquisition was a 100-year-old electrical component manufacturer in Wichita, Kansas, doing about $700k in adjusted EBITDA. He bought it alongside a partner, who took a little apartment in Wichita and flew back and forth during the transition. 2 years later, they've bought 3 more businesses, have another under LOI, and have expanded to 5 partners. We spend a lot of time on Ryan's model here, which has some key elements: * He raises money from investors to buy these businesses, but he does it deal by deal, not as a fund. * His investors get returns from the acquired business's cash flows, as opposed to the more traditional PE model, where liquidity occurs when they then exit those businesses themselves. * He's a long-term holder of these businesses. Decades is the plan. * He uses SBA loans and personal guarantees for each acquisition, which is why his group has expanded to 5 partners. But despite those loans & PGs — or better said, because of — he is conservative with debt; the debt/equity ratios in his acquisitions are low. They are structured such that an acquired business's revenues could decline *by half*, and the deal would still survive. * And more. This interview pulls back the curtain on a serial acquirer that's not quite a holdco, not traditional private equity, and not a roll-up. Which I appreciate because it feels like Ryan and his partners didn't just copy the existing models out there. Instead they worked from first principles to arrive at a model that aligns incentives, and generates compelling economics even while being conservative with respect to debt & risk. Enjoy this interview with RYAN SULLIVAN, managing director of North Park Group. 👉 link to interview in comments below

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The secret—if it ever was one—is out on private equity fondness for vertical software. While PE-backed acquisitions were down 50%+ from a peak in 2021, vertical buyouts have continued to grow, and the fervor seems to be gaining steam. In today’s essay, we will pose an answer to one question: is PE a viable path to exit for a venture-backed startup?

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#ObsessivelyEnthusiasticInvestor #UnreasonablyEnthusiasticInvestor #IrrationallyEnthusiasticInvestor at REFASHIOND Ventures: The Industrial Transformation Fund. We look for the people we believe are doing the best work in Industrial Transformation & Supply Chain Technology; Attempting the impossible. Then we go all-in on them. With obsessive, unreasonable, and irrational enthusiasm. We back them with evangelical zeal. Join us. #IndustrialTransformation #SupplyChain #Innovation #Technology #Startups #VentureCapital #DemandTheImpossible #UnreasonableEnthusiasm #ObsessiveEnthusiasm #IrrationalEnthusiasm  

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I used to think LPs only invested in emerging VC / PE firms for better returns. That’s true…sort of They obviously first and foremost want high returns, but in building our firm and studying the industry I’ve learned that LP motivations are more nuanced than that To understand why an LP really might invest in us, I start with the assumption that they could invest that $ in Blackstone (or a similar large PE firm with top quartile track record) What could we offer that is incremental, and how should we position ourselves in that way? 1. Smaller funds can be higher upside — LPs may be looking for higher risk / higher return opportunities, so we have to emphasize the path to outlier returns. This means discussing not only their expected value but also the distribution of outcomes, and how that might differ from the rest of their portfolio 2. Harder to partner with successful firms later — LPs are often looking to build long-term partnerships with firms that will be around for many fund cycles, and that is about more than just returns. It’s important to emphasize not just the strategy of this fund but also the vision of the firm we’re building 3. Co-invest opportunities — Some LPs don’t care about co-invest, others only invest in funds for co-invest. When speaking with the latter, we emphasize that we have a disciplined and repeatable process to generate and share co-invest opportunities (easy to say, harder to execute) 4. Learning and thought partnership — We have LPs that invested in us because they have conviction in or personal passion for health & wellness and want to learn more about the ecosystem. For these folks we might talk through investment opportunities they see that are in our industry, or invite them to industry events. We also spend a ton of time writing quarterly letters to help them track the industry and learn from our companies It takes years to know where our returns will ultimately shake out, and we’ll have no reason or permission to exist if they aren’t good In the meantime it’s crucial to recognize and deliver on these other needs of our LPs, to provide the experience that they signed up for

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Clean firm power is at the center of the climate conversation today. At Propeller, we’ve been building a thesis on the intersection of the ocean and the energy transition – whether it’s powering, transmitting, or storing technologies that will help reach our skyrocketing demands for electricity. When I met Jake Jurewicz and Matthew Slotkin, I was taken by their ambitious vision for bringing nuclear power to coastal environs with speed and cost efficiencies through small modular reactors (SMRs). Their company, Blue Energy, intends to leverage shipyards that have the capabilities and human capital to safely build a new American industry. Jake and the Blue Energy team are deep subject matter experts that operate with a vigor and determination that makes us at Propeller proud to support this vision and incredible team. SMRs are a fundamental ingredient to meeting our global net zero targets. Thanks to Jake and Matt, I can now point out coastal nuclear facilities on any map, and offer family trip detours to admire and think of change at shipyards, and our clean energy future, much to the chagrin of my wife and kids. Congrats to fellow investors Engine Ventures Michael Kearney At One Ventures Tom Chi Tamarack Global Angular Ventures Starlight Ventures Nucleation Capital If you want to learn more, please reach out. Brian Halligan Rodrigo J Prudencio Reece Pacheco Devdutt Yellurkar Dr. Julie Pullen Tod Hynes #smr #nuclear #cleanfirmpower #ocean #climate

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Fun session with Silas Mähner 🔍🌎 Hopefully non controversial takes on how we think about adaptation and resilience Third Sphere. Also weighed in on thinking about engagement with Big Oil. Absolutely not possible to generalize here. TLDR on one end of the spectrum is Norway, generating substantial GDP from oil, but leading the way across multiple climate efforts, like EVs and heatpumps. On the other end are some state actors that have worked to undermine organizations like COP and sew broader chaos, very, very likely as a way to shift resources away from energy transition (likely very, very hard to spend on defense and green transition at the same time in the US and EU, for example).

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The Information just broke the news of the incredible $8B+ #fundraising haul, with General Catalyst nearly doubling its last total. Fund breakdowns include $4.5B for "core venture funds," $1.5B for their "core creation team," and $2B for "multiple accounts." This was a 33% oversubscription to their $6B fundraising target, which surfaced in April 2024 by the Financial Times. While this is great news for the #entrepreneurial founders, the key question /challenge for General Catalyst will be where to place the newly closed funds to deliver the returns expected by their #limitedpartners that entrust them with their hard-earned capital. What do you think? #management #venturecapital #privateequity #capitalmarkets

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This certainly will change the autonomous vehicle landscape! #ai #autonomousvehicles #software #techsolution #restrictions #ban #automotiveindustry #nationalsecurity #data #datamanagement #dataharvesting

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This is quite interesting advice and also quite a non-consensus view in the B2B software world. Cross-border founders who are considering the US vs International incorporation question should consider this as valuable input.

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The joining of Google Next Renew and OhmConnect signals some validation of an effort started some eight years ago. Championed by Dave Wechsler, Curtis Snyder and Jon Kaplowitz, we worked to develop a virtual power-plant by giving away XFINITY HOME connected thermostats in exchange for demand response agreements. With enough concentration this would prove to reduce consumption on demand. Unfortunately, initial success gave way to larger competing priorities. We must continue to invest in the nation's infrastructure in a way that benefits and rewards customers, improves reliability and reduces human impact on the environment. I'm eager to see how this partnership will deliver a substantial impact in energy efficiency, demand response, grid optimization, and customer engagement. It's a promising step. How do you think the merger of Google Nest Renew and OHMConnect will impact residential energy management? https://lnkd.in/ev_z2Wbz

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STOP sending generic investor emails. Here’s what to do instead to actually secure meetings. I see too many founders doing this and failing. ✅ Do this instead: ✅ Research to personalize messages. ✅ Ask for feedback or advice, not money at first. ✅ Share some value before asking for anything - an article, a connection, etc. ✅ Be brief and brilliant. ♻️ Repost if you liked this, 📢 Comment or DM me "𝗳𝘂𝗻𝗱𝗶𝗻𝗴" to hear more from me about raising money for your startup. I'm here to serve. #business #entrepreneurship #fundraising

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🌌 **Why Interlune Stands Out in Space Resource Harvesting** 🌌 In an era where the quest for clean and sustainable energy is at its peak, multiple companies are trying their hand at harvesting natural resources from space. But as we know, not all companies are created equal. At Interlune, their mission is crystal clear: harvesting natural resources from space to power a clean and sustainable economy. Unlike others, their focus isn’t just on extraction but on ensuring these resources are harnessed with the highest efficiency and minimal environmental impact. The intersection of SpaceTech & ClimateTech is a fascinating one. As our galaxy becomes smaller and more accessible each day with technological advancements, so does the opportunity to maintain a healthy, thriving planet! 🚀🌱🌏🌙

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Two encouraging developments for Group14 Technologies and electrification efforts more broadly last week. 🔋⚡   Lightrock partnered with Group14, led by Rick (Eric) Luebbe, in 2022, recognising the groundbreaking nature of its SCC55™ material. Compared to conventional lithium-ion batteries, SCC55™ offers up to 50% more energy density and extremely fast charging. Moreover, it can seamlessly integrate into existing lithium-ion manufacturing lines without the need for retooling. 1) 100 battery manufacturing customers, representing over 95% of the world’s battery production for both electric vehicles and consumer electronics, have received their first shipments of SCC55™. This follows the establishment of the initial production factory in Woodinville, Washington, and a joint venture with SK Inc. in South Korea. 2) The U.S. Department of Energy (DOE) has awarded Group14 up to $200 million to build a factory capable of producing 7,200 metric tons of silane, addressing a critical bottleneck in the US battery manufacturing industry. This grant will also create 300 new jobs for the factory’s construction and an additional 150 roles for commissioning, ramping up, and sustaining production. Group14 is scaling battery production to new heights and accelerating the electrification and sustainability of our society. Their BAM-1 factory in Woodinville has been operational since 2021, and the SCC55™ produced there is already in over two million smartphones. The new JV factory has an initial annual capacity of 2,000 tonnes of SCC55™, enough to power roughly 100,000 to 250,000 electric vehicles per year. Group14’s BAM-2 factory site in Moses Lake, Washington, is expected to add another 4,000 tonnes of capacity in 2025, bringing the combined annual capacity for SCC55™ material to over 30 gigawatt hours. Huge congratulations to the entire Group14 team on this milestone and award. I encourage you to follow Group14 and check out the links in the comments for additional details. #Group14 #Electrification #Sustainability

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While not always true, but mostly true. Capital formation at scale can drive major shifts in industry. We are seeing it with VC and AI. We have seen it with PE and AEC. What I am starting to see is capital formation to truly disrupt the AEC. Why? Massive Market Slow adoption/digital transformation. Outdated business practices that may or may not align with the clients goals. It is a bit of a perfect storm. You can bet against capital allocators. But the forcing function of large amounts of capital entering any market will have a resounding effect. Stay tuned…

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