I had the pleasure of meeting Natalie, a Director at Bullish with a rich background in content and curation at Thingtesting, Lerer Hippeau, and Forbes. Also she's just a really genuine, cool, and infinitely curious person, and I was stoked to sit down and get her thoughts on CPG investing today.
Here are some of her latest musings...
How has your time at a curation destination like Thingtesting shaped your approach as an investor?
I loved my time at Thingtesting because it gave me a great birds eye view of the consumer landscape and a solid pulse on what’s trending and why. When I connected with Bullish, the team recognized the ability to quickly immerse myself into a range of categories as a big plus. Throughout my career I’ve been lucky to write and edit stories on consumer companies and have found that there are many parallels between being a reporter and being an investor. Curiosity that takes you down rabbit holes and the drive to dig deeper to develop a better understanding are both championed here at Bullish. Given my past work experiences, being able to work alongside a team with backgrounds in marketing, journalism, and finance, is so energizing. Our own journeys make us differentiated in our point of view and I see it as a massive advantage as we pick companies for investment.
How are early stage VCs like Bullish assessing potential investments right now?
There’s something very anti-hype cycle about being a consumer-only VC firm right now. Given the recent surges of interest and investment in areas like the creator economy and AI, investing in consumer is essentially a counter narrative to the headlines. The fact is, consumer spending drives 70% of the U.S. economy, so of course, we are bullish on consumer. Founders tell us that they appreciate our consistency, considering how much the market has changed over the last decade. We believe this focus allows us to partner with founders who are intent on building remarkable businesses targeting real pain points that legacy players aren’t addressing well enough.
What's one brand that really made you stop in your tracks recently?
Monty’s, maker of plant-based “Cloud Cheese” cream cheese and “Cloud Butter” cashew butter, wowed me when I first saw the brand’s whimsical and creative packaging. I was finally able to try the butter after grabbing it at Pop Up Grocer a few weeks back. I had been thinking about Philadelphia and what brands would come after its crown in the cream cheese section, and now at least a few better-for-you challengers have emerged, like Monty’s, Kite Hill, and Melanie’s Medleys. Maybe it’s because I’m a New Yorker but I think having more options to pair with your bagels during a grocery store run can only be a good thing.
