Lee Mayer

I spoke with Christien Louviere of BDE Capital about his journey from a $330mm exit to becoming an independent sponsor. Christien shared excellent insights for folks looking to partner with business owners, rather than buy sellers out completely. Below are a few of the topics we covered: - Why he moved from “zero-to-one” startups to a buy-then-build strategy - How Christien's background shaped a focus on growth vs. cost-cutting - Why 20–40% rolled equity is central to his deal structures—and how it builds trust with sellers - Using scenario analysis with AI tools to evaluate management teams and uncover hidden key-person risks - How to identify when a $3–5M EBITDA company truly has a middle management layer—or is still founder-reliant For anyone investing in or buying small businesses, Christien’s approach provides a fresh lens on growth, alignment, and deal structuring. 🎥 Watch the full interview here → https://lnkd.in/ekfkaiej 🎧 Listen on Spotify: https://lnkd.in/e86Agx6V

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Most people don’t exactly love their insurance company, and the data backs it up. Incumbents are scoring shockingly low with customers: - State Farm: 1.5 stars on Trustpilot, 3.9 on Google, and 1.23 on BBB - Allstate: 1.2 stars on Trustpilot, 3.0 on Google, and 1.12 on BBB - Universal P&C (largest in FL): 1.5 stars on Trustpilot, 3.2 on Google, and 1.28 on BBB Meanwhile, Kin Insurance is flipping the script: 4.9 ⭐ on Trustpilot, 4.7 ⭐ on Google, and 4.59 ⭐ on BBB Kin’s tech-first approach makes pricing more fair, service faster, and claims smoother. It’s a completely different experience for homeowners, and customers are singing Kin's praises in reviews. It's exciting to see such a massive gap between a challenger and the old guard. Kin is showing us that insurance doesn’t have to be broken. Proud to back Sean Harper and his team, who are raising the bar for the whole industry!

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We built 1099Policy after coming to the realization that the delivery mechanism for getting business insurance to the folks who needed it most was built/designed for a world that doesn't exist anymore. Annual policies and months-long underwriting cycles, all of it designed for a full-time employment model where the employer buys coverage for a stable workforce. But of course independent contractors don't work that way. They take a gig on Tuesday, finish on Thursday, and start another one for a different company the following week. Asking them to buy an annual GL policy for a $1,500 assignment is like asking someone to buy a year-long gym membership for a single workout. So we started with the delivery problem, not the insurance product problem. The question wasn't "what coverage do contractors need"- that part was well understood. The question was: can you fractionalize an insurance product down to a single assignment, bind it programmatically, and embed it into the workflow where contractors are already being onboarded? Turns out, the answer is yes. But it required building with both the API layer and the insurance carrier in mind. That architectural decision- API-first, embedded in the onboarding workflow, platform-agnostic- is still the thing that matters most about what we do. #WorkforceInfrastructure #APIFirst #ContingentWorkforce #ContractorCompliance #PlatformBuilders

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Every hire, product feature, and GTM experiment is a capital allocation decision, most teams just don’t call it that. I’m kicking off a 3-part series on capital allocation for founders, operators, and finance leaders with a simple question: ➡️ Will the next $1 you deploy become worth more than $1? Series overview Part 1: defines the core concept + the math Part 2: where capital goes + how to measure whether it’s working Part 3: AIMS framework for communicating allocation decisions to management teams and your board Part 1 (attached here) lays the practical foundation: 🔹 The $1 invested test and ROIIC vs. hurdle rates (scoreboard vs. decision lens) 🔹 A lightweight “investment brief” to evaluate bets (GROW / BUILD / BUY) 🔹 The small metric toolkit that translates finance into operating decisions (NPV / payback / ROIIC / incremental margin) 🔹 Early-stage proxies when DCF inputs are unknowable (burn multiple + revenue quality) 🔹 Operator “vital signs” to spot drift early (profit engine, leverage, cash conversion, optics) Series Roadmap ✔️ This series (Parts 1–3): breadth-first. shared, lightweight framework to define value creation, choose decision-grade metrics, and communicate tradeoffs clearly ✔️ Next series: depth-first. momentum drivers + operational decisions that need near real-time measurement to spot drift early and course-correct fast Read Part 1 here and Part 2 and 3 on substack. Next Series will be out next week. 💰 What’s one bet you’re funding right now, and how will you prove it’s working?

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I’ve spoken to over 2 dozen MDs at PE firms I can confidently say that the arb of figuring out how to implement Vertical AI at portfolio companies is very real right now It will fundamentally change underwriting for those who can do it predictably and unlock generational returns. Most are aware they need to act. Very few have.

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Health insurance is a ~$1.5T market, with distribution dominated by brokers. And yet brokerage ops are still filled with manual, repetitive work and unstructured data. That's why we've led Gyde's $60M funding to rebuild it. Healthcare insurance brokers aren’t just selling insurance. They are the first line of healthcare navigation: enrollment, renewals, and the first call when something breaks. But as healthcare has grown more complex, the broker’s role has become more important and their infrastructure hasn’t kept up. On an operational level, it still looks like spreadsheets, inboxes, and manual work, especially during Q4 renewals. Gyde exists to change that. Gyde is building an AI-native platform that augments brokers - not replaces them - by automating the repetitive work that prevents scale, quality, and trust. Gyde isn’t just software - it’s an AI roll-up where Gyde partners with owners by combining ownership, hands-on support, and tech to modernize brokerage operations from the inside. That combination is what gives Gyde the potential to become the trusted guide across insurance, wealth, and health, not just a point solution. Proud to partner with Will Johnson, Sam Wiener, and the entire Gyde team on this journey. Full conversation behind the investment here: https://lnkd.in/eFHPBUZm

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🚨 New Generation Space Podcast Episode Alert 🚨 Portfolio Spotlight with CEO Mike Gulla of Adaptive Insurance 🌍 Host Leah Martin chatted with Mike Gulla, CEO of Adaptive Insurance, a Texas-based startup using AI-driven parametric insurance to tackle climate risk head-on. Fresh off a $5M Seed round, Mike shares how Adaptive is helping communities and businesses stay resilient in the face of increasingly extreme weather. Lewis Alun Jones, Generation Space’s VP of Investment also joined the conversation, to unpack why Adaptive is a standout in the space. 🔗 Listen now: https://lnkd.in/eXNBtWkv

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Excited to share MTech Capital's latest investment in Pasito's Series A. The Pasito team are solving a big problem in employee benefits and have built a great AI-native product which brokers and carriers love. https://lnkd.in/e2qMAd_X

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🔗 Owner fatigue doesn’t show up on a balance sheet—but buyers can smell it. When founders hit the wall mentally, emotionally, or physically, companies quietly lose momentum, culture, and value. This piece unpacks 5 signals that it's time to consider an exit before fatigue makes the decision for you, including: The shift from builder to caretaker Culture erosion Personal burnout Loss of control Strategic drift ⚠️ If your business is running you, not the other way around, this read could change your trajectory. #Entrepreneurship #MergersAndAcquisitions #ExitPlanning #FounderLife #BusinessStrategy

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