As you may know, I have a business degree - and in particular, a double major in accounting and finance - and let me tell you, despite this, every day I learn SO much in business, personal finance, and real estate that I did not know.
Here’s another one of those topics I didn’t know anything about: private equity and venture capitalism.
Today I’m honored to be joined by Yuri Fulmer - someone who knows a LOT about finance, business, private equity, and venture capitalism.
In the last episode of Goalden Girls Podcast, we learned about Yuri’s incredible entrepreneurial background, and the creation of his $60-million company, as well as the lessons, challenges, and real talk of what that was ACTUALLY like.
Let me tell you a little about Yuri in case you missed part one: he has been building businesses since his early twenties, starting with an unexpected opportunity to buy a local franchise while working for A&W. Since then, Yuri has grown that single A&W franchise into dozens, building a $60-million business portfolio by the time he was 30. In 2016, he founded Fulmer Capital Partners (now Fulmer & Company) to continue doing what he does best - helping businesses grow and serving local communities, both of which you’ll learn more about in this episode.
Yuri’s community and business experience is impressive and his contributions do not go unnoticed: he’s been recognized in many places including Canada’s Top Forty Under 40 (2008), The BC Community Achievement Award (2010), The Spirit of Vancouver Award (2011), The Queen's Diamond Jubilee Medal (2012) and The Order of British Columbia (2010) for Yuri’s “dynamic entrepreneurship and committed volunteerism”. Away from the office, you can often find Yuri - or maybe not find him – enjoying the great
outdoors near and far, fishing, diving, canoeing, kayaking, climbing and
exploring.
If you haven’t already, make sure you go back and listen to the last episode - trust me, it’s a great one! In it, Yuri shares how he ended up where he is now as the Founder of Fulmer & Co, a family firm that owns and invests in a collection of companies in the hospitality, B2B, manufacturing, construction, digital technology and consumer service industries.
And that’s what this episode is all about: private equity and venture capitalism. You’ll get your questions answered, such as:
What is private equity and what does a private equity firm do?
What is venture capitalism and how is it different than private equity?
What are angel investors and how friends and family can be one of your best places to start with funding your business.
Listen in and you’ll also learn:
As a business, what you can get out of working with private equity or venture capitalism. You’ll hear about the tradeoffs and what you give up in exchange for the opportunity to grow your company.
You’ll hear about how to find legitimate private equity firms, and how you can do due diligence on them. You’ll also learn what the due diligence process looks like AS a founder and entrepreneur – and this part definitely shocked me a little.
Yuri’s best tips and advice for fundraising.
How there is still a HUGE imbalance in the private equity world: the vast majority of funding goes to male versus female-founded companies, and there is serious underrepresentation for POC as well. Yuri got honest about the role he has to play and how he’s making a difference.
When I put the question out there on social media to YOU and asked “what do YOU want to know about private equity and venture capitalism” the resounding answer was “EVERYTHING”. So, my friend, here’s my best attempt at covering as much as possible and as close to “everything” as is possible in a 45 minute episode. Buckle up friend… here we go!
Here are the juicy bits you can look forward to:
How Yuri decided what to invest in (8:15)
What private equity is and what private equity firms do. (9:20)
The difference between private equity, venture capitalism, and angel investing. (12:00)
The pros and cons to working with private equity and venture capitalism. (19:50)
What most are doing with capital to grow. (22:40)
All about due diligence. (41:25)
What entrepreneurs should be prepared for if they are looking for investors. (44:45)
Yuri's best tips for pitching to investors. (51:15)
What needs to change to level the playing fields for entrepreneurs. (55:40)
What Yuri is building with Fulmer & Co. (1:01:45)
Rapid fire round with Yuri. (1:05:50)
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Quotes to Share:
Download and share the quotes you loved on your social and inspire those around you:
“[Private equity] is an established business with a proven bottom line.” - Yuri Fulmer
“The more money you take, the more you owe someone else, and I don’t mean owe in the financial sense.” - Yuri Fulmer
“Take as little as you need to continue to grow the business.” - Yuri Fulmer
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Thank you so much for listening.
xo,
Lisa
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