In this episode, we welcome Noah Friedman, a distinguished venture capitalist and general partner at Top Shelf Ventures. Noah shares his fascinating career transition from acting to becoming a successful VC and entrepreneur in the alcohol industry.

Noah provides valuable insights into his experiences founding Top Shelf Ventures, a fund specializing in the alcohol sector, and co-founding Uncharted, an innovative media and events business that facilitates connections between leading founders and investors. He offers expert advice on the challenges of fundraising for a new fund, strategies for cultivating relationships with Limited Partners, and the key criteria he considers when evaluating potential investments in alcohol brands. It's a spirited conversation you won't want to miss!

Here's what you're in for:
00:00 Intro
07:49 Building relationships with mentors
11:56 The founding story of Uncharted
20:16 Challenges of raising a first-time fund
31:42 Investment criteria for alcohol brands
35:42 Valuation approaches for alcohol startups
37:18 Exit valuations in the alcohol industry
39:11 Advice for emerging fund managers
42:34 Outro

This episode is sponsored by ThunderVC, an investment bank for founders by founders.

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ABOUT NOAH FRIEDMAN

Noah Friedman is the Co-Founder and Managing Partner of Top Shelf Ventures, a venture and private equity fund that targets the biggest opportunities in the multi-trillion-dollar alcohol and vices industries. He is also the Co-Founder of Uncharted with Michael Loeb, a community of world-class founders and investors anchored by a monthly dinner series and an annual summit. Noah is a goal and growth-oriented, obsessively entrepreneurial individual passionate about creating, scaling, and growing great businesses.

Noah’s experience and passions lie at the intersection of technology, media, CPG, and communication, with a background in acting and production that has been a fundamental building block for how he approaches business, communication, and people.

Connect with Noah on:

• Linkedin: https://www.linkedin.com/in/noahsf/


• X: https://x.com/noahsfriedman?lang=en

ABOUT FUNDRAISING DEMYSTIFIED

Our goal is simple: to equip you with the knowledge, inspiration, and guidance to navigate the labyrinthine world of fundraising. Whether you're a budding entrepreneur seeking seed funding or an established founder looking to scale your business, this podcast will provide you with the tools you need to conquer the fundraising landscape.

Thank you for being a loyal subscriber to Fundraising Demystified. We appreciate your support and are excited to continue bringing you more inspiring stories from successful founders.

ABOUT JASON

Jason Kirby is the co-founder of Thunder VC. He is a serial entrepreneur with 4 multi-million exits and decades of experience in fundraising and business building. He has coached hundreds of entrepreneurs in his career on fundraising, investing, capital strategy, and business development.

You can reach out to Jason through:

• Email: jason@thunder.vc


• LinkedIn: https://www.linkedin.com/in/jasonrkirby/