Phil Clement

Boards of Directors – How Relevant To The Business Is The Board? In 2014, activist investor Starboard Value successfully replaced all 12 directors on the board of Darden Restaurants. The following shows the Darden incumbent board at the time of Starboard's proxy fight, Starboard’s value creation plan initiatives, the Starboard director nominees and the before and after performance (revenue, EBITDA, EBITDA margin and stock price). Note especially the direct relevance of each Starboard nominee to the industry or some aspect of the value creation plan. How often do you see this level of relevance on public company boards?

11

13 Comments

Darden Restaurants recently reported its quarterly results, showcasing resilience amidst a challenging environment. While Olive Garden faced a decline in same-store sales for the second consecutive quarter, Darden's overall performance remained steady, with earnings per share surpassing expectations at $2.65 and revenue reaching $2.96 billion. Looking forward to fiscal 2025, Darden projects a promising outlook with expected earnings per share between $9.40 and $9.60 and anticipated net sales of $11.8 billion to $11.9 billion. The company's LongHorn Steakhouse segment notably reported a 4% increase in same-store sales, underscoring Darden's effective management and operational strength. With plans to invest $550 million to $600 million in capital expenditures, Darden is poised to enhance its offerings and maintain its competitive edge in the market. Read More Here: https://lnkd.in/eFgDC97p #hospitality #restaurants #technology #innovation Branded Hospitality Ventures Angelo Fama Jr. John Espy Dave George Daryl L. Cunningham Lisa McDowell Robert Anderson Ali Charri

18

1 Comment

Revitalizing Family Business Consulting with Exponential Thinking The core challenge facing family businesses is a lack of clarity around succession planning. Older owners struggle to evaluate next-gen leaders, while rising talent isn't sure how to demonstrate their readiness. As the family business landscape undergoes a massive $74 trillion wealth transfer, consultants Doug Gray and Kent Rhodes saw an opportunity to reinvent their industry. Their Assess Next Gen (ANG) platform exemplifies how small and medium-sized firms can leverage Exponential Organization (ExO) principles to drive innovation and impact. The chapter title is Family Business Consulting; A Blueprint for Scalable, Impactful Generational Transitions https://lnkd.in/dADcEVYB By Niki Faldemolaei

6

In our latest episode on Practical Nerds, Patric and I talk about what "Service-as-a-Product" means for AEC tech, and why it might prove to be one of the most valuable and timely opportunities for founders to address.

31

Our view on the current venture capital markets. Curious to hear other investors' thoughts but I feel like seed stage valuation, at least in the gaming and entertainment sectors, has finally come down to the pre-covid level. Since February or March this year, we started seeing that the founders are willing to raise a $1-2m seed round at a $10m-ish valuation, not like $4-5m at $20-25m in 2022 and 2023. What are you guys seeing?

27

2 Comments

Transactions can play a significant role in large-scale transformation, presenting a time of intensified focus on change and a heightened sense of ownership and accountability. #M&A #privateequity #transformation #valuecreation https://ow.ly/1qqY50QRY4J

1

Attention all founders! The game has changed, and the playing field is tougher than ever. With economic headwinds and a funding crunch, you can't afford to wing it anymore. Board meetings are no longer just a formality - they're your lifeline to navigating turbulent waters. In this article, I've shared some hard-won wisdom on how to run a killer board meeting that extracts maximum value from your all-star team. Whether you're preparing for your next raise or fighting to survive, this guide is a useful blueprint for masterful board meetings.

37

4 Comments

Good blog post from my partner Andrew Heyman on the importance of alignment between founders and their VC partners. GoPoint is actively seeking new investments. Happy to speak more with anyone running new ventures looking for perspective here.

8

The 2024 NVCA Yearbook is out, and there are a few tidbits about the VC landscape 💴 ▪️More Places to Pitch: There's been a slight increase in investments made outside of Silicon Valley and other traditional tech hubs. Cities across the Midwest and South are seeing more VC activity, which could drive regional innovation. Not Seattle, though. Do better, PNW. ▪️Sluggish Fundraising, More Dry Powder: Although fundraising did not pick up steam in 2023, the amount of dry powder held by the industry ticked up slightly to $311 billion. It's out there, waiting to be deployed. ▪️The Old Normal: Corporate investors are still active-ish. CVC and family office investments were down but remain a significant minority of the deals and dollars committed in VC. ▪️Sustainable is Sizzling: ESG factors increasingly matter for deal-makers. More venture firms are making sustainability an investment focus area/criteria. Not-So-New Money: AI, biotech, and clean energy investing have been hot for a while. This isn’t breaking news, but it’s increasingly true. ▪️Risky and Safe: The current economic climate poses numerous challenges but also plenty of opportunities. Market volatility has made exiting more difficult but has also created attractive entry points for strong founders that could bear fruit later. All 91 pages of the 2024 NVCA Yearbook is below👇

100

4 Comments

Such an excellent conversation this week. For those in venture capital, this is a must listen. https://lnkd.in/gQUgM8q9

1

1 Comment

Join us tomorrow for a panel discussion on the complex relationship many FirstGens have to money and how that affects founders, investors, operators and others. See you tomorrow! https://lu.ma/9rixyzgs

23

2 Comments

VC capital down 97%!!!! 😱😱😱 Is CPG venture capital dead? Not yet, but there is no doubt a big shake up is in the works. We are not just seeing brands go bankrupt, but there will be a large number of CPG venture capital firms move out of the space or close up completely. Let’s look at how we got here. Prior to 2010, the venture capital market for CPG did not exist. Most of the capital for brand development came from friends & families, and it wasn’t until brands grew to the magical PE threshold of $10m in revenue or $2m in EBITDA were brands able to access institutional capital. Then came the rise of digital marketing (DTC) and online based corporate infrastructure platform applications (quickbooks online, online banking, etc) in early 2010s that started leveling the playing field for consumer startups. The ability to bypass retailers and market directly to consumers reduced the impact of the large strategic stranglehold on brick & mortar distribution. Also, productivity gains through a distributed corporate infrastructure allowed for more professional manage without the traditional fully burden cost of a InHouse team all located in a single location. This rise tigger hypegrowth for that first cohort of brands, leading to a wave of strategic M&A from 2015 - 2019, first in big food & beverage and then followed by the diversitied groups such as P&G and Unilever. However, cracks were already showing. Most brands acquired during this time failed and strategics started changing there M&A strategy model, requiring brands to be larger before acquisition. The next phase brought the beauty and personal care wave, with food & beverage VCs diversifying into other categories. While this was happening, the amount of capital flowing into the market continued to accelerate. Then COVID hit… Instead of slowing the momentum, COVID super charged the capital flowing into consumer, with the early stage seeing a true bubble. COVID trends distorted and already distorted view of reality, as growth was unnaturally charged with capital in digital marketing without real customers being created, and it all hit reality with two major market changes. IOS change in May 21 and the increasing interest rate environment / quantum tightening reducing the investor liquidity for private capital. Fast forward to today, the venture capital dollars for CPG is back to where we were in 2010, practically zero. So what’s next? Over the past 10+ years there have been a massive infrastructure build to support early stage CPG that continues to allow for efficient brand development. There has also been a number of successful firms that have proven smart investors that can truly be value add can propel brands. So while the competition for capital is going to be fierce for years, those groups that do have deployable dollars will more than likely increase the probability of success for their portfolio companies. #cpg #venturecapital #cpginvesting

95

26 Comments

At the CFA Society Indianapolis Venture Breakfast last week I mentioned how SaaS is losing its VC footing to AI. A couple of folks asked for more information, so I figured I'd share today's PitchBook newsletter on the topic. (https://lnkd.in/eJ285n-a) Amid shifting landscapes in the tech sector, corporate innovation funds and investment dollars are increasingly pivoting towards AI experimentation. As traditional SaaS startups experience a deceleration in revenue growth, the focus is shifting. 💡 As we witness this transition, it's crucial for professionals in tech and investment sectors to understand how AI can drive not only efficiency but also innovation. ❓ Let's discuss how your organizations are adapting to this shift. Are you experimenting with AI? What impacts do you foresee in your industry? #AI #CorporateInnovation #TechTrends #StrategicInvestment

19

M&A should be transformational not transactional. This compelling article delves into how forward-thinking organizations are shifting from transactional to transformative approaches, unleashing new avenues for growth. Learn why mindset matters and how embracing agility can turn uncertainty into opportunity. Packed with practical insights and real-world examples, this article is a must-read for leaders ready to navigate the dynamic landscape of M&A with confidence and innovation. Read Here: https://lnkd.in/g2kjKGKY Branded Hospitality Ventures #business #technology #venturecapital #MandA #networking #innovation Noah Stern Matthew Lerner Steven M. Elinson Lisa M. Negele Harvard Business Review Robin Elledge, PCC, SPHR Soren Kaplan Clifton Carmody, PCC

9

2 Comments

A lot of you have heard me say "we aren't thematic investors EXCEPT when it comes to our consumer thesis and Vertikal Brands". So what does that mean exactly, and how did we choose to double down on outdoor specifically? I recently sat down with Matt Blevins who heads up the strategy for Clearview Capital, L.P. and we had the chance to talk about just that! Tune into our third episode of 'Coffee with Clearview' to learn more about how we got started in the space, and how we continue to partner with world-class outdoor consumer brands. #consumerprivateequity #consumerproducts #privateequity #outdoorenthusiast #outdoorbrands

19

Whiskey is emerging as a popular investment class among HNW investors according to a new report by KPMG: 27% said they plan to invest in whiskey within the next 3 years, making it the most popular form of "luxury" assets. Whiskey interest is followed by art (26%), jewelry (20%), wine (15%), and classic cars (14%). While increased capital moving into whiskey investments is likely to drive down returns in the long run, we believe the wholesale bourbon niche is still small enough to capture excess returns for investors who buy barrels in 2024. #bourboninvestments #alternativeassets #familyoffice #investmentideas https://lnkd.in/dgpdGCPd.

14

Hiring for top-level positions can be a challenging task, but partnering with an executive search firm can make all the difference. Here's why: 1. Vast network of top-level talent. Executive search firms provide access to an exclusive network of highly qualified executives. This means you can connect with top talent that may not be visible through other channels. 2. Confidential and discreet searches. Privacy is crucial when hiring for sensitive positions. Executive search firms (like AC Lion) ensure your search remains confidential, protecting your organization and potential candidates. 3. Comprehensive candidate assessments. Through rigorous evaluations, executive search firms assess candidates on various crucial factors, ensuring a perfect match for your needs. 4. Tailored recruitment. These firms customize their strategies based on your requirements, ensuring the candidates align perfectly with your organizational goals. 5. Time efficiency and faster hiring. With their expertise, executive search firms significantly reduce the time it takes to find and hire the best candidates, expediting the entire recruitment process. 6. Onboarding support and expert negotiations. The support doesn't stop at hiring. Firms like AC Lion assist in onboarding and negotiating terms to ensure a smooth transition for both parties. For more insights on why working with an executive search firm could be beneficial for your business, feel free to check out our full article here: https://lnkd.in/epUu3hfA #ExecutiveSearch #TalentAcquisition #Leadership #Recruitment

8

Ready to play big? Unlock the billionaire playbook: Start with an Aged Shelf Corporation and master the art of influence WITHOUT ownership. 🏦✨ If you want to learn more. Click here to sign up for my next free webinar ⬇️

1