Armory Square Ventures

??Wednesday, April 9, kickstart your day with advice and insights from Noah Glass, founder and CEO of Olo! Somak Chattopadhyay will lead a fireside chat with Noah before opening the floor for a candid AMA session - if you're an early-stage founder who wants to hear from a leader who's been on your journey and lived to tell the tale, you won't want to miss this. Register to join us here: https://lu.ma/sx42l7h9

What a pleasure to share a table with such a dynamic group of investors! We talked about how VCs are using AI to surface great opportunities, what real moats look like in an AI-native world, and the ways in which the goalposts of growth continue to shift. There was plenty of spirited debate about where all of this is headed and how AI will shape the world future generations will grow up in. The one consensus? We're all bullish on backing great founders who know how to leverage the tools that are available. Always a privilege to be in the room for these conversations -- our thanks to Dan Borok for co-hosting with Somak Chattopadhyay, and to Mark Batsiyan, Max Chee, Jenny Friedman, Andrea Hippeau, Galina Ozgur, Lexi Quirk, Julian Roeoes, and Ian Sigalow for joining us!

Great dinner with an awesome group of early-stage NYC investors—lots of ground covered, and some debates left unfinished -- but a few key takeaways stood out: ???Market and policy uncertainty is already reshaping enterprise buying—longer cycles, more scrutiny, and changing priorities for venture-backed startups. ???AI-driven software development is now table stakes—if startups aren’t using AI to extend productivity, that’s an unforced error. ???The tension between vertical AI solution sales cycles and later-stage hypergrowth is real—navigating it is a critical challenge for founders. Always fun to exchange ideas with this group—Lexi Quirk, Ian Sigalow, Mark Batsiyan, Max Chee, Julian Roeoes, Andrea Hippeau, Galina Ozgur and Jenny Friedman—already looking forward to the next one! And thanks to Somak Chattopadhyay and Armory Square Ventures for co-hosting with nvp capital!

Last week, our monthly on-site meeting set sail for sunnier shores.?? The team headed to Florida to recharge, reconnect, and strategize for the coming months, including planning some very exciting events we can't wait to share with you. Stay tuned (and stay warm in the meantime!).

For the second installation of the ASV book club, our team read Elizabeth Joy Zalman & Jerry Neumann's Founder Vs. Investor. It's essential reading (and rereading!) for those on both sides of the equation. The book strives to balance the natural information asymmetry in the founder-investor relationship, when founders are laser-focused on one company while investors often have insight into dozens.

We've seen tremendous value incorporating LLMs as research assistants lately and it got us wondering: How are you using LLMs in your day-to-day?

What do WeWork, Quibi, and GoPuff have in common? They were promising startups that raised massive amounts of capital, ballooned too quickly, and collapsed under their own weight. We call it the Foie Gras Effect: https://lnkd.in/e-Jw-48n When companies raise more money than they can productively use, they aren't just given runway; they're handed a ticking time bomb. How can AI founders avoid it today? Scale with discipline and have a plan for the funds before you get them.

Six more weeks of winter means more time to enjoy our winter newsletter! Read our thoughts on vertical AI, team updates, and exciting job postings across our network: https://lnkd.in/eSNpnRxc Subscribe to make sure you get the next one in your inbox!

Congrats to ASV Venture Advisor Steve Hovagimyan on this exciting new position with Aprio! Between this and the Eagles' Super Bowl win, Steve has had a spectacular month.??

What fintech founders need to know from yesterday's summit on the Politics of Fintech Innovation, organized by Lynx Collective and hosted by Goodwin: ??Don't wait until you have an ask to approach regulators! Bring your perspective to start the conversation - your competitors certainly are. ??Pay attention to RFIs, even if you're not planning on responding to them. Seeing others' responses can provide valuable intel and keep you in the loop. ??If you're concerned about new federal legislation, remember that the vast majority of tech is regulated at the state or local level, not national. Thanks to Andrew Chang for organizing this timely and important summit, and to Jared Fine and Alexander Rea for the invite!