Investor Stories 415: Why I Passed (Walsh, Binatti, Schroepfer)

This episode of TFR is brought to you by Ramp, the spend management platform we use here at TFR. They're offering listeners a $150 just to take a demo. We've never had an offer quite like this. Claim your $150 before this offer is gone at our partner link, ramp.com/partner/tfr. And this episode of TFR is brought to you by the American Arbitration Association, where smart startups and investors turn to for fast, efficient, and cost effective dispute resolution. Visit adr.org/tfr to learn more. Welcome to the podcast about venture capital where investors and founders alike can learn how VCs make decisions and reach conviction. Your host is Nick Moran, and this is the full ratchet. Welcome Welcome back to TFR. On today's special segment, we ask guests to discuss their anti portfolio, a start up investment that they passed on. Here's the segment called why I passed. Today's special segment, we have Shamine Walsh of Bam Ventures. Shamine, can you tell us a story about a startup that you passed on? Oh, I mean, we pass on startups a lot because we invest so early that there are a lot of great startups actually that that we pass on just out the gate because they're too expensive for us. I'm trying to think of one that I've passed I I think there are a few startups I have passed on in the enterprise space. Oh, I I can use an example. So I I passed on Tapcart, which is a large business now because I didn't necessarily believe that every brand needed its own app. But I should have listened to our own mantra, which is to love the founder and just like the idea because they're incredible founders, and I really like them as people. And so I should've I should've I should've heeded our own guidance. Awesome. On today's special segment, we have Daniella Benacci of Pismo. Daniella, can you talk about a critical opportunity or decision that you chose not to pursue? Was it the right call, and why did you pass on the opportunity? I think it touched, one of the things that we just discussed, like, was the moment when we were starting and when we decided to go to look for fundraising. We had the opportunity to sign with one or two local angel investors that would provide us with the money that we needed. But although we we needed the money so badly, we said, no, it's not the right partner because, like, there's no experience in outside Brazil. There's no experience in launching startups. So I remember saying no to a term sheet and to one of those things. And on the other day, the four of us, like, Jesus Christ, what are we doing? Like, what's gonna happen? Like, what if we don't find another fund? But I think it was the right call to make at that time because when you go to investors, it's not only about money, …