LA Venture Podcast


Mike Fernandez — B Capital

September 14, 2022

Series B

Why is a Series B pitch so much different than pitching a Series A company?  How do growth stage investors think about multiples today?  

Mike Fernandez talks about what he is seeing in growth rounds today and the sort of support that is needed for later stage companies.

Full transcript

Mike Fernandez is with me today. Mike is well known in LA as he has been at B Capital since the start over seven and a half years ago. Mike, I'm pretty interested to pick your brain on growth stage investing as I know Series B to pre-IPO is your focus today at B capital, but I know you've done it all from seed to pre IPO, and I'm looking forward to hearing all about it.

Let's dive in and talk about the growth stage. I'm super curious about growth in 2022 versus 2021. And how you guys are thinking about the markets today. 

So, I primarily play in the infrastructure layers of enterprise software. And so when the market started to turn at the beginning of 2022, actually it took a while for some of that effect to filter down to the types of companies that I look at.