#359 - Inside Bullish: Lessons from Backing Major DTC Winners (Peloton, Harry’s, Warby Parker)

In this episode of DTC POD, Brent Vartan, Managing Partner at Bullish, discusses the firm's unique approach to venture capital, blending brand marketing expertise with investment. Vartan details Bullish's early-stage investment strategy, emphasizing brand strategy as a growth mechanism and the importance of customer lifetime value over acquisition costs. He shares success stories from Bullish's portfolio, including Harry's, Nom Nom, and Bubble, highlighting the significance of building strong, culturally relevant brands positioned for long-term growth or strategic acquisition, rather than solely focusing on short-term profitability metrics like CAC and COGs. The conversation also explores capital structures, advocating for raising enough capital to foster courage and innovation, while cautioning against over-funding that can stall momentum.