Batshit Crazy Ventures Research
Investment Thesis
Batshit Crazy Ventures (BCV) is an early-stage venture capital firm dedicated to supporting unconventional and high-risk startups at the earliest stages of development. Based in Boulder, Colorado, the firm focuses exclusively on pre-revenue, pre-seed, and pre-everything startups that embody bold, creative thinking. Founded in 2016 by Dane McDonald (formerly at Foundry Group), BCV believes in the power of passionate founders with early-stage ideas and provides not just capital but significant operational support and founder mentorship.
Investment Philosophy
BCV takes a generalist approach with a focus on supporting founders who are solving real problems with conviction. The firm dedicates substantial time, effort, and resources to working with early-stage founders, recognizing that many breakthrough companies start with "crazy" ideas that traditional investors overlook. The firm's irreverent brand and approach reflect its commitment to supporting unconventional thinking and non-consensus bets.
Stage Focus
Batshit Crazy Ventures invests exclusively in the earliest stages:
- Pre-Seed & Pre-Everything: Companies with ideas, prototypes, or minimal traction
- Seed: Early-stage companies beginning to validate product-market fit
The firm rarely participates in Series A, preferring to maximize founder support and hands-on involvement at the earliest stages when capital and mentorship have the highest impact.
Check Size
Typical investment range: $100,000 - $1,000,000
- Most common: $250K-$500K for pre-seed
- Occasional: Up to $1M for exceptional seed companies
Sector Diversity
BCV is a true generalist investor with portfolio exposure across multiple sectors:
- AI/ML and Robotics: Early-stage AI applications, robotics companies
- Biotech & Life Sciences: Pre-clinical biotech, healthcare innovation
- Climate & Clean Energy: Clean energy, climate tech solutions
- Enterprise Software: B2B SaaS, developer tools, infrastructure
- Defense & Aerospace: Advanced manufacturing, aerospace tech, defense-related applications
- Consumer & Food: Branded beverages (Liquid Death, Sunday), consumer apps
- Hardware & Manufacturing: Electric vehicles (CAKE motorcycles), manufacturing innovation
- Ad Tech & Influencer Marketing: (Influence.co)
- Blockchain & Crypto: Earlier investments in blockchain technology
- IoT & Hardware: Connected devices, sensor networks
Recent Activity & Portfolio Performance
BCV has made 26 investments since founding, with strong exits:
Active Notable Companies:
- Liquid Death: Unicorn status (valued at $1B+), energy beverage brand
- Sunday: Series C, $104M raised, lawn care brand
- Fi: Series B, smart GPS tracking for dogs
- Shinesty: Series A, fashion/apparel brand
- Xplore: School transportation technology
- Radian Aerospace: Space launch systems
- Cosmic Shielding: Aerospace/defense tech
- Constellation Labs: Advanced technology
- CAKE Motorcycles: Electric motorcycles (acquired)
- Radar Relay: Decentralized exchange (acquired)
- Kubos Corporation: Satellite operations software (acquired)
- Influence.co: Influencer marketing platform (acquired)
Fund Deployment:
- Most recent investments: 2021 (Opopop Series A, Cosmic Shielding Seed)
- Portfolio has generated 1 unicorn and 6 successful acquisitions
- Shows early-stage fund deployment capability
Team & Background
Dane McDonald (Co-Founder, GP): Founded BCV and FG Press. Previously spent 3+ years at Foundry Group focused on sourcing and deal flow. Has deep Boulder tech ecosystem connections.
Alex Bogusky (General Partner): Design, marketing, and consumer products expert. Former principal at award-winning agency Crispin Porter + Bogusky (CP+B). Brings consumer brand and marketing expertise to portfolio companies. Actively involved in sourcing and supporting portfolio companies.
Jordan Bornstein (Partner): Denver-based partner with deal sourcing and investment expertise.
Cole Sears (Principal): Early-stage operations and founder support.
Finn Faldi (Principal): Investor and deal sourcing support.
Decision Process
BCV operates as a partnership with collaborative decision-making. Given the small team and early-stage focus, investment decisions are made relatively quickly with strong partner alignment.
Founder Preferences
BCV seeks:
- Founders with conviction and bold ideas, even if "crazy" or non-consensus
- Technical founders with deep domain expertise
- Experienced entrepreneurs who have built before
- Diversity in founder backgrounds and perspectives
- Founders willing to engage with hands-on mentorship and support
Geographic Focus
Primarily United States with concentration in:
- Boulder, Colorado (home base)
- Denver, Colorado (secondary hub)
- San Francisco Bay Area (access to tech talent)
- International investments in select cases (Singapore, Sweden)
Typical Involvement
- Board seats: Active board participation typical for early-stage companies
- Mentorship: Significant operational support and founder mentorship
- Resources: Access to BCV network, introduction capabilities, operational expertise
- Follow-on: Limited reserves for follow-on investments, but will support strong companies
Co-Investment Partners
BCV frequently co-invests with:
- SpaceFund (aerospace/space tech)
- Valor Equity Partners
- Creandum (Nordic tech)
- Lagfe (Nordic investors)
- Other early-stage and founder-friendly funds
Warm Introduction Preference
Like most early-stage funds, BCV operates largely through founder introductions, portfolio company referrals, and ecosystem connections. Warm introductions from trusted sources (Boulder tech community, Foundry Group alumni, existing portfolio founders) are strongly preferred.
Notable Pattern
BCV shows strong appetite for consumer brands with strong founders: Liquid Death (beverage), Sunday (lawn care), Shinesty (apparel), and Fi (pet tech) represent successful consumer bets that required both product innovation and brand building.
Historical Context
Batshit Crazy Ventures emerged from the Boulder tech ecosystem during the growth of the city as a startup hub. The firm's irreverent branding and founder-first approach reflects the culture of unconventional thinking that characterizes the Boulder/Denver startup community.
Conclusion
BCV is a genuine early-stage fund with significant founder conviction and operational involvement. The firm excels at identifying bold founder-led companies with breakthrough potential, even when ideas seem unconventional. Strong portfolio exits (1 unicorn, 6 acquisitions) and continued activity demonstrate both successful pattern-matching and strong founder relationships that create follow-on opportunities.