Elsewhere Alpha

Donovan Bennett, co-founder and CEO of Milli Llama, discusses the platform's mission to connect college students with K-12 schools as substitute teachers. He explains how Milli Llama addresses the lack of training and support for substitute teachers and the potential for surge pricing to incentivize subs. It is a mobile-based platform that connects substitute teachers with K-12 schools. They focus on the charter, private, and Catholic school markets.

James Barlia, an investor at Revolution, joins the pod to talk about the work he and the Rise of the Rest team are doing to invest in startups across America. We get into how he became a VC, what he looks for in an investment, reasons for success and failure, and many of the ways founders in Middle America can leverage their location as a competitive advantage.

Chet Kristy, Founding Partner at IKONA Partners, discusses his background and the focus of his firm in advising software companies based outside of tech hubs. He highlights the industries and sectors in middle America that are ripe for disruption and shares examples of companies that have successfully built their businesses around pain points. Chet also explains the advantages of starting a company in non-tech hub cities and the considerations for different types of exits, including selling to strategic buyers or raising private capital. The conversation covers various topics related to raising venture capital, exit options, and operating characteristics for a sale-worthy business.

Max Knapp, founder of Whitewater, shares his background and inspiration for starting a private equity firm focused on succession-based opportunities in Appalachia. He discusses the demand for capital and liquidity events for aging business owners in the state, as well as the lack of natural buyers due to net migration. Max highlights the operational inefficiencies and technology gaps in legacy industries, emphasizing the potential for improvement and growth. He also explains the importance of building trust and culture in acquired companies and the sourcing and diligence process for identifying opportunities. Max concludes by discussing the risk-adjusted returns and non-competitive sourcing in the West Virginia market, as well as the potential for growth through consolidation. In this conversation, Max Knapp discusses the process of acquiring and scaling businesses in rural Appalachia. He emphasizes the importance of identifying opportunities, conducting thorough diligence, and creating a game plan for growth. Max also shares a case study of an HVAC company acquisition and highlights the role of finding the right operator and implementing best practices. He then delves into the process of starting a fund and attracting limited partners. Max discusses the use of leverage in acquisitions and shares his long-term vision for Whitewater. DISCLAIMER: Nothing in this podcast is intended to be investment advice nor is it a solicitation for investment.