Episode 51: "Obsess Over Founder DNA" | Denver Ventures Co-Founder Amy Brandenburg

Today's episode explores three ideas that caught my attention:

1. Angel investment dollar-cost averaging - The vintage year matters, and Amy's comments got me thinking about how traditional finance concepts like DCA can be applied effectively in the angel investing world.
2. Curation creates commitment - Amy's insight that showing fewer, highly-vetted deals can increase member engagement challenges a common assumption I see in the angel space that more deal flow equals more value.
3. The founder is everything - Amy's collaboration with clinical psychologist Marty Dubin to systematically assess founder DNA made me think about how tempting (at least, at the pre-seed and seed stage) it is to focus on evaluate a business when we really should be evaluating the person.

I explore these ideas and more with Amy Brandenburg, Co-Founder and Managing Partner of Denver Ventures Seed Fund.

Amy Brandenburg is Co-Founder and Managing Partner of Denver Ventures Seed Fund, which has grown from an informal angel group to managing $65M+ AUM in just five years. Her unique background spans the complete startup lifecycle, from being startup employee number one to experiencing GitLab's successful IPO as a team member. Amy brings a distinctive focus on "founder DNA" assessment, collaborating with clinical psychologist and serial entrepreneur Marty Dubin to develop proprietary psychological evaluation methods that go beyond traditional due diligence in early-stage investing.

During our conversation, Amy shares:

• Member activation strategies that helped Denver Ventures grow from informal group to 850+ investors including why partner skin-in-the-game was crucial for credibility.
• Lessons from GitLab's asynchronous culture including the "no agenda, no meeting" rule and iteration-over-perfection mindset that shaped her leadership approach.
• Why Colorado's 20-year ecosystem building strategy succeeded where others failed and how coastal capital migration during COVID accelerated regional growth opportunities.

What We Cover:

00:00 Introduction

02:30 Importance of Founder DNA

04:07 Amy's Journey in Angel Investing

05:40 Denver Ventures Seed Fund Formation

11:26 Growth of Denver Ventures

14:32 Unique Approach to Angel Investing

15:23 Commitment to Investing in Every Deal

17:04 Strategies for Successful Angel Investing

26:13 Current State and Future Plans

Listen now on Apple Podcasts, Spotify, YouTube, and more.

Connect with Amy

LinkedIn:   / amymbrandenburg  

X: https://x.com/AMBrandenburg

Connect with Andrew

Newsletter: https://thediligentobserver.substack.com

X:   / akazlow  

LinkedIn:   / andrewkazlow  

Book: https://angelops.pitchfact.com/

Website: https://pitchfact.com/

Stuff We Reference

Brad Feld:   / bfeld  

Marty Dubin:   / martin-dubin  

Chris Petersen:   / chrispetersen1  

Brian Leach:   / bwleach  

Ibotta: https://home.ibotta.com/

Dan Caruso:   / danielpcaruso  

Denver Ventures: https://denverventures.co/

GitLab: https://about.gitlab.com/

Andreessen Horowitz: https://a16z.com/

Baylor Angel Network:   / baylorangelnetwork  

Techstars: https://www.techstars.com/

Caruso Ventures: https://dan-caruso.com/caruso-ventures/

Colorado Startups: https://coloradostartups.org/

Rockies Venture Club: https://www.rockiesventureclub.org/

Band of Angels: https://www.bandangels.com/

Super Founders: https://www.amazon.com/Super-Founders...

Blindspotting: https://www.amazon.com/Blindspotting-...

Secrets of Sand Hill Road: https://www.amazon.com/Secrets-Sand-H...

Denver Startup Week: https://www.costartupweek.com/

DFW Startup Week: https://dfwstartupweek.com/



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All opinions expressed are personal and may not reflect the views of the individual’s organization or of The Diligent Observer. Not investment advice.