Refinery Ventures

Impressive adoption of Airflow with over 31 million downloads in November alone. Andy Byron and the team at Astronomer are at the forefront. Enterprises are diversifying their technology stacks with Snowflake (28%), Databricks (29%), and Google Cloud's BigQuery (27.6%) sharing equal adoption rates. Airflow serves as the vital connective element in this shift. Read more about this in the State of Airflow 2025 report: [Link to the report](https://lnkd.in/gfkHFrSD)

Steven Santamaria’s journey from Pittsburgh to Seattle and then to Cleveland is a perfect example of the boomerang effect in action. After building a network on the West Coast, he’s now leveraging those connections to drive success at Folio Photonics, marrying cutting-edge Midwest technology with Silicon Valley relationships. On Season 2 Episode 11 of Fast Frontiers, Tim Schigel sits down with Steve to discuss how returning talent fuels innovation, the power of networks, and why the Midwest is becoming a hotbed for emerging tech. Listen now to hear how the boomerang effect is shaping the future of Midwest startups! https://lnkd.in/gQTS7zsp

Businesses often believe that a strong product or idea will sell itself. But in reality, products don’t sell themselves—people do. This article highlights that the fastest-growing companies don’t just focus on strategy and innovation. They build strong, purpose-driven cultures where teams feel connected to a larger mission. That alignment fuels innovation, resilience, and long-term success. Entrepreneurs need to ask themselves: are we building a product or a company? Hypergrowth isn’t just about having the right product—it’s about having the right people, aligned behind a mission, to make it happen. What drives your team’s success? https://lnkd.in/gu9RM74x by Mckinsey & Co

Data demands are exploding—more storage, faster access, lower costs. But legacy tech can’t keep up, leaving customers frustrated. Emerging solutions like Folio Photonics’ laser-written storage could upend the market, offering faster, cheaper, and longer-lasting alternatives to traditional tape storage. With its innovative approach, Folio Photonics is well-positioned to redefine data storage and challenge outdated legacy systems. Read more here:?https://lnkd.in/gthYigdB

"It's about who is going to stand by you in your journey, in respect to what's the product you're working on." In this clip from Fast Frontiers, Shashank Saxena shares with Tim Schigel how the early leadership team at VNDLY wasn’t just drawn to the product—they were committed to the journey and the relationships that fuel hypergrowth success. Hear more about building strong teams, scaling fast, and why relationships matter more than ever in startups in this episode. What do you think is more important in early-stage hiring: passion for the product or commitment to the journey? Drop your thoughts below! Listen to the full episode here: https://lnkd.in/gEVnnjYd

Three Insightful Reads for Hypergrowth Leadership: Bain Insights: https://lnkd.in/gzdzWfVx McKinsey & Co: https://lnkd.in/gmN8jnai Forbes: https://lnkd.in/g77Vsv6B A common theme among each of these articles is that successful hypergrowth leaders must embrace intentionally and tempo. Intentionality – Startups do not build themselves, you start with a blank canvas. Hypergrowth leaders must be explicit in shaping and creating a culture - it will not happen organically. Tempo – Leaders set the pace, but it is a balance. One CEO I worked with introduced a “company shot clock”—20 seconds to the next play — to set the pace for associates. But without a clear purpose, constant urgency leads to burnout. Scaling is not just about speed, it is about sustaining momentum with purpose. What are ways that you've seen leaders set the pace?

We're #hiring a new Venture Capital Analyst / Associate in Cincinnati, Ohio. Apply today or share this post with your network. Come work with Tim Schigel, Peter Schmidt, and the rest of the Refinery Ventures team!

In S6 Episode 2 of our Fast Frontiers Podcast, Tim Schigel talked to Mike Kadin, CEO of RedCircle, about the importance of "defining a set of cultural values for the company that we have built together." Hear more about how strong leadership can build a culture that drives innovation, collaboration, and sets teams up for success with the link below. https://lnkd.in/gU2CV_WZ Let us know in the comments: What’s the one thing you believe every company culture needs to thrive?

Today marks an incredible milestone—Peter Schmidt’s third anniversary at?Refinery Ventures! During his time at Refinery, Peter has undeniably impacted our team and the venture capital landscape. His keen eye for innovation, dedication to finding transformative opportunities, and passion for helping startups thrive have inspired us all. From navigating complex deals to forging meaningful relationships with founders and entrepreneurs, Peter has been a driving force behind many of our successes. His expertise, integrity, and collaborative spirit elevate everyone around him, and we’re lucky to have him on the team. Here’s to many more years of growth, learning, and exciting ventures ahead!? #VentureCapital #Teamwork #Innovation #Anniversary #CelebratingSuccess

Refinery Ventures is thrilled to announce our first investment out of FUND III - Champion! It's another excellent example of hypergrowth leaders building great venture-backable businesses in our Great Lakes region. We pride ourselves on our ability to underwrite hypergrowth talent, and I think we nailed it with this one: Jeff Reekers, Gianna Scorsone, and Courtney C. are the type of leaders everyone would be proud to work with. It's a team uniquely positioned to build an AI customer-led growth company. More on the Company: Champion?is a promising customer marketing platform startup based in Indianapolis, Indiana, that is leveraging AI insights to redefine customer advocacy in the B2B marketing space. The Company provides an AI-powered platform to help businesses harness the power of their most loyal customers. Through this platform, companies can activate customer advocates to drive referrals, close deals faster, and enhance customer retention. Ultimately, Champion’s mission is to drive growth through existing customer bases. Champion's tools enable marketers to build authentic relationships, scale customer-led growth, and unlock dormant revenue streams. ? "We've known the Refinery team for a while and we really like their focus on hypergrowth leadership. We are excited to have them on board and think they can add a lot of value while helping us maintain all of our incredible momentum." - CEO Jeff Reekers Champion was co-founded by?Jeff Reekers,?Gianna Scorsone, and?Courtney Crispin. Prior to his work with Champion, Jeff was CMO at?Aircall, a unicorn startup based out of New York. While he was there he worked with Gianna, who has similar hypergrowth experience. Courtney has been building transformative technology for decades. The startup recently raised $3.3 million in seed funding, led by?Flyover Capital?and supported by other notable investors such as?High Alpha ?and?Bread and Butter Ventures. This funding will support further development of its AI infrastructure and expansion of its market presence.