In this episode of Consumer VC with Mike Gelb, Volition Capital Managing Partner Larry Cheng shares how some of the most durable consumer and e-commerce brands are built without relying on early venture capital or burn-at-all-costs growth.
Drawing on Volition’s experience backing consumer companies like Chewy, BURST, and Grove Collaborative, Larry explains why capital efficiency is often misunderstood, how overlooked markets can produce category-defining outcomes, and what truly makes a business investable before institutional capital enters the picture. He also unpacks the real lessons behind headline successes—from Chewy’s path to a landmark acquisition to the risks and realities of virality in modern brand building.
Get a grounded, experience-driven perspective on scaling with discipline, preserving ownership, and building meaningful companies in a more cautious capital environment.
