Thunder

We're a tech-enabled investment bank for founders, by founders. We help companies navigate their capital strategy for acquiring funding to fuel their growth.

Founders: AI-assisted fundraising for companies. Join the network for free to see which investors are more likely to invest in you.

Investors: Access vetted deal flow and invest with no fees direct on cap table

Thunder X Capital, LLC offers securities through Stonehaven, LLC, a Member FINRA/ SIPC.

Managing Director & Founding Partner

Interplay

Operating Partner

PEF Community

Brining together the London PEF community

Chapter Lead

Hustle Fund

Angel Squad Member

Angel Investor & RE/VC/PE LP

Investor / Advisor 

Generation Esports

President & COO

Walmart Technology

Director Of Digital Media

LiquidSky Software, Inc. (Acquired)

Chief Revenue Officer

ConveyIQ by Entelo

VP of Marketing

Misc Small Businesses and Startups

Built, grew, and sold a few small businesses that are still actively running today.

Founder

I'm a serial entrepreneur that has raised $135M+ and has had multiple exits. I'm now on a mission to support founders with their capital strategy and acquire the capital they need to grow their businesses. 

Thunder.vc is a tech-enabled investment bank for founders, by founders.

When it comes to supporting the founders in our Thunder.vc community, here are some free resources that can help you with your capital raising efforts.

 - Fundraising Demystified newsletter - Sign up at http://join.thunder.vc
 - Free list of AI-recommended VCs specific to your business - https://web.thunder.vc/list-of-investors-vcs-for-founders 
 - Free tool to source lending partners for your working capital needs - https://lp.thunder.vc/apply-for-working-capital-for-your-startup-company
 - Private Slack community for founders - Apply to join at https://app.thunder.vc/signup

Here's my take on how VCs blew up another over-funded startup.

Bench, the Canadian fintech darling, raised over $100M in venture funding, yet it just shuttered its doors, laying off 450 employees and leaving its customers in the lurch with no warning. Let’s talk about why.

This isn’t a story of bad product or poor market fit. Bench built something founders needed—a streamlined way to handle their bookkeeping. It wasn’t perfect, but the value prop was solid, and their scale meant that had Product Market Fit. 

So how does a company with 12 years in the game and over $100M raised end up shutting down abruptly leaving their customers/employees in the dust?

The kicker: Ian Crosby, the co-founder and driving force behind Bench, was pushed out by the board after their last major round in 2021. I don’t know the facts of the boardroom drama, but I’ve seen this playbook before. A founder gets replaced under the guise of “professionalizing the company.” And guess what? It often backfires.

Here's my take: Based on Ian's confession from social posts, he knew he had a great business, but I think that business was going to be stable and steady, not a rocket ship. Those VCs needed it to be a rocket ship, especially after putting in that fresh capital at the peak of the market. They were deterred by Ian's practical vision and ousted him to bring in someone who would do their bidding to mega-scale a company...that just maybe...couldn't scale much more.

When the board/VCs prioritizes their markups, the wheels can come off fast. VCs may write the checks, but founders are the heart and soul of their companies. Ian knew the business, the customers, and the vision better than anyone. Without him, Bench became just another cog in the investor machine—focused more on achieving massive valuations vs building a great business..

The lesson for founders:
When you take on VC funding, you’re not just taking money—you’re taking on expectations, influence, and the risk that someone else might call the shots when things get tough. Protect your vision, and when you build your board, make sure they’re aligned with your long-term goals—not just their desire for valuation markups.

What do you think? Are boards too quick to replace founders, or is this just a harsh reality of venture-backed startups? Let’s discuss 👇

Jason Kirby

What are investors thinking when you pitch?

Founders often walk into the room (or Zoom) thinking, “I just need to impress them with my idea.”

Here’s what’s running through an investor’s mind:

1️⃣ “How big is this market, really?” Investors cut your projections in half the second they hear them. Get ahead of this by showing real traction and realistic growth paths, not just hypotheticals. Think TAM, SAM, and SOM- but don't exaggerate the numbers- they can smell BS a mile away.

2️⃣ “Can this team pull it off?” The idea is important, but they’re asking: Is this team resilient enough to execute? Share examples of how you’ve overcome challenges in the past—this builds trust. Especially at the early stage, they're betting on the founder almost as much as the product.

3️⃣ “What’s their exit plan?” They're thinking it, and need to understand what the potential for exit is, but don't waste your time trying to lay it out for them, they'll hate that. Let them come to the conclusion themselves and then be ready to have a discussion about it in case they dive in.

If you can address these concerns before they ask, you’ll own the room.

How do you go from bootstrapping to a $175M Exit?

Join me as I chat with serial entrepreneur David Hauser, who shares the story behind bootstrapping Grasshopper to a $175M exit and raising $42M for Vanilla. In this candid conversation, David talks about his journey from launch to successful exit—and the surprising challenges that came after.

Get the inside scoop on building multiple successful companies, navigating major exits, and finding purpose in new ventures. Now leading Durable Capital, David acquires and grows companies.

Tune in to hear more about his journey and personal insights on the struggles of being a founder. The link is in the comments.

Unicorns are overrated.

Everyone loves a good unicorn story. The $1B valuation. The press coverage. The "we made it" moment.

But at what cost?
-Burnt-out teams
-Unsustainable growth
-Founders giving up control piece by piece

Take it from someone who’s been in the trenches: chasing a unicorn valuation can leave your company bloated, broken, or worse, bankrupt. Just ask WeWork.

Instead of unicorns, let’s talk about camels.

Camels are resilient, resourceful, and built to survive long, hard journeys. 
Think: sustainable growth, profitability, and solving real problems for your customers.

In this week’s #FundraisingDemystified, I break down why the unicorn obsession is misleading and how founders can redefine success. It’s blunt. It’s practical. And it might just save your startup.

If you want to get this and more, subscribe via the link under my name.

Kicking off 2025 with something I feel people need to hear. All founders want to hit that sweet unicorn status, but how is it impacting the ecosystem?

Open article: Stop Chasing a $1B Valuation by Jason Kirby • 4 min read

This was my first phone—proudly displayed in front of my first TV. Going back home for the holidays always feels like cracking open a time capsule of what cutting-edge technology looked like back in the day.

The phone that took ages to send a text. The TV that needed a slap on the side to work properly. These were the gadgets we couldn’t live without.

What’s the most outdated piece of tech you’ve rediscovered while digging through your past?

Ever thought about selling your company? 

This week on #FundraisingDemystified, I sat down with Connor Tomkies, founder of Operator Equity, who’s gone pro in selling companies.
Connor breaks down the process:

-How he ran a 35-banker interview marathon to find the one
-Why the biggest promises aren’t always the best ones
-How he used spreadsheets to save on million-dollar legal fees
-The underrated importance of asking "Who’s running point on my deal?"

We also tackled the venture Kool-Aid many founders are sipping—hint: sometimes, bootstrapping or a boutique acquisition is the real MVP. 

Whether you're planning to scale, sell, or just survive another quarter, this episode is packed with no-nonsense advice, tough truths, and a few laughs along the way.

Listen now via the link in the comments

💡 Startup Debt Financing: How Much Can You Get?

From early-stage startups to profitable SaaS, here’s what real market rates look like in Q4 2024:
   • Early Stage: Quick cash, 15-25% interest.
   • Growing Startups: 1.5x monthly revenue, flexible terms.
   • Venture-Backed: Better rates, 13-16% interest.
   • Profitable SaaS: Long-term loans, as low as 8% interest.

🎧 Listen now to learn more on Spotify, Apple Podcasts, and YouTube- links in the comments
#StartupFinance #DebtFunding

Startup Debt Financing: How Much Can You Get?

Which sectors are most likely to get VC-backed in 2025?

Check out the list plus some of my thoughts in the latest issue of Fundraising Demystified.

Happy reading.

If you haven't, subscribe via the link below my name for weekly insights, tips, and info on access to capital.

Hey, I share some insights on the top sectors expected to raise in 2025. Also; 📊 - 2024 trumps 2023 in VC-backing 🎙️ - Scaling your business through

Open article: Who will get VC-backing in 2025? by Jason Kirby • 4 min read

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