Consumer VC takes a look into early-stage consumer investing and venture capital. If you are interested in learning about consumer trends, have a b2c business and interested in learning about the fundraising process at the early stage, you have come to the right place.
Mike interviews some of the top venture capitalists in the world that focus on B2C and consumer type companies or have a deep track record investing in these categories such as marketplaces, SaaS, social, CPG and non-tech subscription.
Mike also interviews founders that are building some of the most disruptive consumer facing companies in the world. The conversation usually includes the insight the founder discovered, fundraising strategy, and the pitch.
This podcast also includes bonus episodes. Each bonus episode dives into a particular subject that might not have to due with the fundraise or venture capital, but still would be helpful to founders. For example, a bonus episode on brand strategy or how to construct a board of directors. All bonus episodes will be clearly labeled.
For all episodes, please visit www.theconsumervc.com. For updates, you can follow @mikegelb on Twitter.
Consumer VC takes a look into early-stage consumer investing and venture capital. If you are interested in learning about consumer trends, have a b2c business and interested in learning about the fundraising process at the early stage, you have come to the right place.
Mike interviews some of the top venture capitalists in the world that focus on B2C and consumer type companies or have a deep track record investing in these categories such as marketplaces, SaaS, social, CPG and non-tech subscription.
Mike also interviews founders that are building some of the most disruptive consumer facing companies in the world. The conversation usually includes the insight the founder discovered, fundraising strategy, and the pitch.
This podcast also includes bonus episodes. Each bonus episode dives into a particular subject that might not have to due with the fundraise or venture capital, but still would be helpful to founders. For example, a bonus episode on brand strategy or how to construct a board of directors. All bonus episodes will be clearly labeled.
For all episodes, please visit www.theconsumervc.com. For updates, you can follow @mikegelb on Twitter.
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Q1 2025 was the slowest fundraising quarter for consumer VC in recent memory. So what's really happening in venture capital—and how is it impacting founders in consumer, SaaS, and AI?
In this episode, Mike sits down with Peter Walker, Head of Insights at Carta, to break down what's beneath the data:
✅ Why seed valuations are holding—but fewer deals are closing
✅ What’s behind the Series A “chasm” in consumer
✅ How mega funds are reshaping early-stage investing
✅ The rise of solo GPs and the slow decline of mid-sized funds
✅ Why LPs are getting frustrated with VC
✅ What founders risk when a mega fund passes on their Series A
✅ Why AI is warping the current “reset” in venture
✅ And what the future of venture might really look like
👉 If you're a founder, investor, or emerging manager trying to navigate the post-2021 world, this is a must-listen.
Timestamps
00:00 Intro
01:00 Why Consumer VC Has Higher Highs & Lower Lows
04:00 What Went Wrong with DTC and VC Expectations
06:00 Fund Size Creep & Why Some Firms Abandoned Consumer
10:00 The “Thesis Drift” Problem in Venture
13:00 Why Most VCs Don’t Stay in Their Zone of Genius
15:00 Mega Funds vs. Seed Funds: Optics, Pressure, and Power
21:00 Why Series A Has Become a Brick Wall
26:00 Will AI Companies Actually Be Durable?
31:00 The Rise of 3-Year Fundraising Cycles
35:00 The Future of Emerging Managers
38:00 The Squeeze on Mid-Sized Funds
40:00 The “Just a Little VC” Founder Strategy
44:00 Why Seed Valuations Haven’t Crashed
47:00 How Tariffs Are Impacting Consumer Deal Flow
51:00 Where Is the Liquidity? (& Why M&A is Surging)
54:00 Are We Actually in a Reset?
56:00 The AI Hype Cycle and OpenAI Risk
59:00 Peter’s Favorite Books (Personal & Professional)
📬 Subscribe for more founder stories & venture insights: 👉 The Consumer VC Newsletter - https://www.theconsumervc.com/
Follow Mike Gelb: Twitter / IG / TikTok → @mikegelb / @consumervc
