Sumeet Shah is Workville’s in-house Venture Capitalist and startup advisor.
As the principal of Brand Foundry Ventures, Shah has over six years of experience across the startup and private equity industries, formerly running new business strategies at Gist Digital and handling business development and project work at Gotham Consulting Partners. He also assisted in the creation of XRC Labs, a consumer and retail accelerator run by Kurt Salmon and Parsons, as the Program Manager for their inaugural class and was Head of Strategic Partnerships for their second class.
Together, with Andrew Mitchell, Shah launched BFV in March, 2014. I met Andrew back in 2011,” says Shah, “when I was in the private equity consulting world via a mutual friend. He was working on the early stage world at his angel shop while I was handling later stage work. We hit it off (at a steakhouse, I may add) and kept in touch.”
Shah had originally planned to send him promising startups but Mitchell quickly poached him and brought him on to Brand Foundry Ventures. “We are now moving with our second fund that is doing $500k-$1MM checks to lead/co-lead on seed deals on consumer product startups,” Shah says. “We’re excited for this year!”
For Shah, vetting and valuing companies boils down to three main categories. “It’s all about people, product, and pipeline,” he says. “The cyclical atmosphere of strong teams building key cohesive products and how they’re looking to take their business and brand to the next level.”
For someone starting a new business, Shah has one piece of advice: “Passion is key,” he says. “However, set yourself an internal clock of 12 months to pull together savings and you can survive. It’s easy to get driven into the entrepreneurship ecosystem but you need to make sure you’re taking care of yourself.”
Sumeet Shah is available by appointment for Workville members. “Coworking is so fantastic because you’re always tapped into the ecosystem and can see people working on some amazing stuff,” he says. “By being curious, you learn more and have the opportunity to help!” With Workville specifically, he loves the central location. “It feels above the clouds,” he says. “Away from the crazy hustle of NYC.”
Workville is truly an oasis in the heart of midtown Manhattan, offering NYC coworking space and private offices for startups and entrepreneurs. Book your tour today to see the space.
Workville members, please let your community managers know if you’d like to meet and chat with Sumeet Shah. If he’s not in the office, you may catch him at Nios in The Muse hotel. “It’s an old favorite,” he says.