Wolf Starr joined Sunny Ray to discuss The Venture Atlas, a network of venture funds built to widen access to venture capital and angel investing for founders and communities that traditionally struggle to raise money. Starr traces his path through four careers, moving from a blue collar construction and events business to a startup connecting small businesses with communities, to producing large scale festivals, and finally to investing. He explained why his team runs three distinct funds rather than one, starting with the Pride Fund, a national vehicle for LGBTQ plus founders built with Angels out of New York, followed by a second fund focused on impact driven businesses across Ohio. Starr described the three rules his funds use before investing, the origin and results of a Midwest bus tour that connected founders and investors across twenty one cities including South by Southwest, and why he believes collaboration matters more than competition among venture funds. He closed with advice for founders preparing to raise capital and for anyone building a career across multiple industries.
A four career entrepreneur turned investor on building The Venture Atlas to widen access to venture capital.
What is the Venture Atlas and what problem are you trying to solve with it?
The Venture Atlas is our network of venture funds that work together. Venture capital and angel collectives are amazing resources to help grow businesses and communities, but traditionally access is very limited. Our whole mission is to make it more available for individuals to participate and for different kinds of businesses to get funded.
You've had four distinct careers. What connects them all?
They've all been very different, but the through line is that each one taught me more about how to work with people and grow community and connections. One after another I've continued to learn and grow and bring phenomenal people from all walks of life into my networks so I could help support them.
Why did you create multiple funds rather than just one broad vehicle?
We built a bus tour to learn venture and different ecosystems. Our first fund existed because there wasn't a fund specifically for the LGBTQ plus community, so we partnered with Angels out of New York and raised it fifty thousand dollars at a time. Our second fund came when an investor wanted to back impact driven businesses across Ohio, so we brought in family offices and major partners.
What criteria do you use when deciding to invest in a company?
We have three rules. We have to provide value beyond dollars, so if a founder just wants money we're not the right partner. It has to be truly venture scalable, since we love brick and mortars but they aren't the right fit for our funds. And I have to be able to explain it simply enough that my eleven year old can repeat it back to me.
What do founders commonly misunderstand about raising capital?
The first rule is you shouldn't raise venture capital unless you have to. Angels are a different story, but with venture capital the only reason to take a dollar from us is if it helps you do in two years what would traditionally take a dozen years. Venture capital should almost be the last option if there's any other way to make it happen.
What sparked the bus tour and what did you learn from it?
I was throwing big music festivals and we'd often be short on cash right before an event, so I realized venture firms could wire money overnight so their investors could meet the headliner. That led to loading a bus in Columbus with founders and investors, driving to Cleveland, then Detroit, doing radical collaboration between cities. We ended up running nineteen events across twenty one cities, including South by Southwest.
What places or communities are underrated sources of innovation?
I'm a big fan of Toronto, and Louisville, Atlanta and New Orleans are doing great. Austin and San Antonio work well together too. But I'm really bullish on the Midwest. Chicago is going to blow us all away over the next twenty years, and Columbus is starting to get some big wins with real exits that the coasts are beginning to notice.
What should founders do before they ever start outreach to investors?
They should know why they need funding, what they'll do with it, and who they want to partner with. Not all money is the same, so find an investor who aligns with your goals and personality. Get specific, talk to founders they've already invested in about the relationship, and know who you're talking to before burning your energy on a mismatch.
Building something daring? Sunny talks to founders like this every day. Fifteen minutes to see if your story belongs on the stage.
Claim your pre-interview