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In this Venture Grounds episode, Kate Meacham from Bullpen Capital explains why the best returns are hiding in the categories most VCs won't touch โ from sports betting and lottery to religious communities. She breaks down Bullpen's 15-year track record of looking past regulatory ambiguity and Silicon Valley taste to find generational companies in markets other firms write off as commoditized, taboo, or too slow.
Kate shares her journey from growing up in Indiana with a marketing background to leading consumer investments at Bullpen. She explains why the lottery market is bigger than books, movies, and film combined, why Bullpen has been quietly investing in religious communities, and why founder expertise, not market timing, is what compounded the firm's recent AI win with Matt and Ben at Moltbook.
You will hear insights on why time-to-product-market-fit has compressed from two years to six months, why founders who lean too hard into paid customer acquisition can never bring CAC back down, and why the founders Bullpen invests in at the messy middle between seed and Series A know how to build a brand that resonates before the audience ever interfaces with the product. Kate also shares her view on why marketing has shifted from year-one to week-one for every founder, why being scrappy with micro-influencers and organic channels matters more than ever, and what most founders get wrong about the specific value VCs can bring to go-to-market, hiring, and regulatory strategy. Whether you are building in consumer, navigating a regulated market, or trying to figure out where the real opportunity sits in a market obsessed with AI, this conversation gives you a clear and grounded view of what it takes to build outside the Silicon Valley default.
Kate shares her journey from growing up in Indiana with a marketing background to leading consumer investments at Bullpen. She explains why the lottery market is bigger than books, movies, and film combined, why Bullpen has been quietly investing in religious communities, and why founder expertise, not market timing, is what compounded the firm's recent AI win with Matt and Ben at Moltbook.
You will hear insights on why time-to-product-market-fit has compressed from two years to six months, why founders who lean too hard into paid customer acquisition can never bring CAC back down, and why the founders Bullpen invests in at the messy middle between seed and Series A know how to build a brand that resonates before the audience ever interfaces with the product. Kate also shares her view on why marketing has shifted from year-one to week-one for every founder, why being scrappy with micro-influencers and organic channels matters more than ever, and what most founders get wrong about the specific value VCs can bring to go-to-market, hiring, and regulatory strategy. Whether you are building in consumer, navigating a regulated market, or trying to figure out where the real opportunity sits in a market obsessed with AI, this conversation gives you a clear and grounded view of what it takes to build outside the Silicon Valley default.
Guest profile: Kate Meacham, Bullpen Capital
https://www.bullpencap.com/team
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