Dan Hershberg loves golf. So much so that he founded the Amateur Golf Society – a PGA-style tour that any golfer can participate in. The investors think his flexible tournament model is a hole in one. But things get complicated when they discover a majority of the company is owned by a private equity firm, not the founder. Will the VCs and the PEs come together for the love of golf? Or will this deal land in the bunker. Today’s investors are Beck Bamberger, Al Bsharah, Jillian Manus, and Howie Diamond. To learn more about Dan's golf startup and the investors featured on this episode, check out the Amateur Golf Society show page. And for a deep dive on the companies featured on the show, subscribe to The Pitch Insider. Enjoying the podcast? Use this link to text a friend! Learn more about your ad choices. Visit podcastchoices.com/adchoices
Four.
Golf.
Today's pitch is about golf.
But before I get back to my scramble, there's four other letters that you need to know.
There's VC and then there's PE.
No, not high school gym class.
Private equity private equity funds are similar to venture capital funds in that they invest in private companies.
But that's where the similarities end.
VC's invest small dollars at the beginning of a company.
When PE comes into the picture, it's way later in the game.
They're the pot of gold at the end of the fundraising rainbow.
But that means when private equity invests, they take control.
Here's the twist.
Today's brand new golf company is already backed by private equity, and now they want to raise some venture capital, too, which is backwards.
Can VC and PE hit the course as a foursome, or will one be forced to caddy for the other?
I'm Josh Muccio.
Welcome to the pitch where real entrepreneurs pitch real investors for real money.
I'm Beck Bamberger, managing partner of Bad Ideas Group.
Welcome to San Diego.
Hi, I'm Al Bechera, the managing partner at Interlock Capital.