Investor Spotlight: Ryan Springer of Midnight Venture Partners
The Startup CPG Podcast
Startup CPG
4.9 • 642 Ratings
🗓️ 27 September 2025
⏱️ 46 minutes
🔗️ Recording | iTunes | RSS
🧾️ Download transcript
Summary
In this episode of the Startup CPG Podcast, Hannah Dittman welcomes Ryan Springer, Managing Partner and Co-Founder of Midnight Venture Partners, for an in-depth conversation on the evolving world of CPG investing. Ryan shares his path into venture capital, insights gained from his early experiences in retail strategy, and the vision behind building Midnight Venture Partners.
The discussion covers strategies and viewpoints from Midnight Venture Partners, exploring how investment theses evolve to adapt to category dynamics, market factors, and shifting opportunities. Ryan also offers valuable perspective on founder-investor alignment, holding periods, and the critical traits—such as tenacity and grit—that set successful entrepreneurs apart.
From navigating differentiation and defensibility to understanding consumer behavior shifts and new growth frontiers, this episode provides practical guidance for founders and industry professionals alike.
Listen now to gain actionable insights on scaling a CPG brand and building lasting investor partnerships.
Don’t miss the chance to connect with investors and brands—secure your spot at fandf.startupcpg.com
Listen in as they share about:
- Midnight Venture Partners Overview
- How Venture Capital Works
- Investment Fundamentals
- Founder–Investor Alignment
- Lessons from Fund I → Fund II
- Differentiation & Defensibility in CPG
- Consumer Trends & Growth Channels
- Founder & Investor Perspectives
- Advice for Founders & Aspiring Investors
Episode Links:
Website:Â https://midnightvp.com/
LinkedIn: https://www.linkedin.com/in/ryan-springer-466a02aa/Â
Don't forget to leave a five-star review on Apple Podcasts or Spotify if you enjoyed this episode. For potential sponsorship opportunities or to join the Startup CPG community, visit http://www.startupcpg.com.
Show Links:
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- Visit host Hannah's LinkedinÂ
- Questions or comments about the episode? Email Daniel at podcast@startupcpg.com
- Episode music by Super Fantastics
Transcript
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| 0:00.0 | That misalignment of timeline of timeline and speed and all that kind of thing is where B.C. starts to get a bad reputation that I believe it kind of earns because a lot of DCs, |
| 0:21.1 | including myself when I get lazy, aren't clear to these founders about, hey, I need you to do |
| 0:27.1 | this in this period of time, or I'm going to start getting antsy, and whatever levers I've got |
| 0:32.2 | to kind of push you further along, or for instance, I'll get a lot of brands that'll say, |
| 0:40.0 | hey, and VC on my board is telling me to launch an RTD version. And I'm like, well, there's a reason. They need you |
| 0:45.0 | to go for the fences and they're totally okay if you're a zero. That's not true for you. |
| 0:49.5 | This is your one thing. If it's a zero, that's a giant bummer. |
| 1:00.0 | Hey, everybody. I'm Hannah Dittman, Operations and Finance correspondent at Startup CPG and the founder of Ready Basics. As a former CPG investor, I'm especially excited to host this investor spotlight with Ryan Springer from Midnight Venture Partners. |
| 1:08.0 | If you've ever wondered how investors really think about fund returns, |
| 1:11.0 | defensibility, or what separates a good founder from an unforgettable one, this episode is for you. |
| 1:16.2 | We're sitting down with Ryan Springer of Midnight Venture Partners, a founder himself, a second |
| 1:20.4 | generation CPGer, and the co-founder of High Desert vodka. Ryan shares how investors think about |
| 1:25.8 | the math behind venture returns, the factors that |
| 1:28.1 | truly matter in defensibility, plenty of hot takes on industry topics, and how to position |
| 1:32.7 | yourself so investors recognize your edge. We also dive into what makes a strong investor-founder |
| 1:37.9 | relationship work and the role a great capital partner should play beyond just writing a check. |
| 1:42.7 | Whether you're figuring out when to start |
| 1:44.5 | fundraising, how to stand out in a crowded market, or what investors think like, you'll get invaluable |
| 1:49.7 | perspective from someone who's built both brands and a venture firm. Enjoy. Hey everybody, welcome |
| 1:58.9 | back to the startup CPG podcast. This is Hannah, and today I am here with Ryan Springer, a founding partner for a midnight venture partners. Ryan, welcome to the show. |
| 2:07.7 | I'm plump to be on. Thank you for having. We are so excited to have you. I'd love to kick off with you introducing yourself. Can you share your title, a brief background of your experience prior to |
| 2:17.9 | MVP, and what led you to investing in the first place? Definitely. My title is managing |
... |
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