Birchmere Ventures’ Ned Renzi

Birchmere Venture Founder Ned Renzi

Ned Renzi co-founded Birchmere Ventures and has been investing in Pittsburgh for more than two decades. His firm focuses on software companies in western Pennsylvania.

You cannot have a tech boom without an abundance of startup capital. While taking money from a VC is the wrong move for 99% of businesses, fast-growing tech firms rely on investors like Ned to help them scale quickly and build amazing software.

The Ned Renzi Interview

After spending the previous night furiously preparing for launch, we celebrated our first official day as a company interviewing one of Pittsburgh’s biggest venture capital investors. The podcast was one of the most popular episodes of “Going Deep with Aaron Watson”.

Ned schooled us on his firm’s investing philosophy, key Saas (Software-as-a-Service) metrics he pays attention to, and why he’s recently gotten obsessed with fasting in the morning. Even if you never intend to raise outside capital (like us), this is still a stimulating and valuable conversation.

We also appreciated the intensity and discipline that Ned displays in his professional life. He doesn’t take any meetings or calls until after noon, so that he can focus on deep work in the morning while he is fresh.

Birchmere Ventures

Birchmere Ventures has offices in both Pittsburgh and San Francisco.

Ned and the Birchmere team have invested in Pittsburgh startups NoWait, FreeMarkets, and JazzHR.

 

Key Terms Mentioned

Saas – a business model based on software licensing and delivery. The company’s software is licensed on a subscription basis and is centrally hosted.

CAC – Customer Acquisition Cost

LTV – Lifetime Value of a single customer (average)

ARR – Annual Recurring Revenue

MRR – Monthly Recurring Revenue

 

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