Sheel Mohnot is co-founder of Better Tomorrow Ventures, a venture firm that leads rounds in pre-seed and seed-stage fintech companies. It is one of the most active fintech investors in the world.

Sheel has spent the last decade in fintech — first as an operator and angel, then as a founder of his own firm. In this conversation, he walks me through the unconventional path that led him into venture, including time spent in India working in microfinance, and why he believes a focused fintech strategy makes sense.

We dig into some of his biggest early misses, including passing on both Robinhood and Chime, and what those decisions taught him about recognizing real customer shifts. Sheel also gives a clear-eyed view of today's hypergrowth environment, the gap between flashy numbers and durable businesses, and how AI is actually showing up in the day-to-day work of venture capital.

We also talk about the growing political involvement of tech leaders, the challenges facing San Francisco, and what he's most excited about looking ahead — from self-driving cars to the quieter, more practical uses of AI.

A candid conversation with one of fintech's more thoughtful investors.
Better Tomorrow Ventures

Sheel on X

In this episode of Something Ventured, Kent Lindstrom sits down with Mark Suster, Managing Partner at Upfront Ventures and one of Los Angeles' most prominent venture capitalists. Mark shares his unconventional journey from early computer programming in the 1980s, building and selling software companies, to becoming a VC — including the surprising challenges of the transition and why he created Launch Pad LA to stay connected to founders.

The conversation explores the fundamental differences between being a founder and a venture capitalist, particularly the emotional "amplitude" of highs and lows, crisis frequency, and the long-term nature of measuring success in VC. Mark also dives deep into why Los Angeles has become a major hub for hard tech, aerospace, space, national defense, maritime innovation, and next-generation energy solutions (including nuclear applications on ships and in space). He makes a compelling case for LA's strengths in manufacturing, trade, and deep tech versus Silicon Valley's dominance in software and AI.

Additional highlights include Mark's thoughts on nonconformity in investing, returning capital to LPs, the importance of government relations for startups, and his optimistic view of LA's future despite recent challenges. A thoughtful, wide-ranging discussion full of historical context, contrarian insights, and forward-looking vision on American innovation and resilience.

Books Mark mentions in this podcast:

Miller, Chris. Chip War: The Fight for the World's Most Critical Technology. Scribner, 2022.

Herman, Arthur. Freedom's Forge: How American Business Produced Victory in World War II. Random House, 2012.

Mark Suster: Upfront Ventures. | LInkedIn | X

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Andy McLoughlin is Managing Partner at Uncork Capital (formerly SoftTech VC). We discuss Andy's journey from co-founding Huddle -- racking servers in the Docklands and building their own payment system before Stripe -- to Silicon Valley.

He was an early angel investor in companies like Postmates, eventually joining Jeff Clavier's venture firm SoftTech, now Uncork Capital.

We dive into the golden era of "super angels," collaborative seed rounds, and famous near-misses like Uber and Twilio.

Other topics include how seed funds like Uncork stay relevant in a world dominated by mega-funds, why specialized early-stage investors often serve founders better than big brand names, and how to find those non-obvious deals before they become consensus. Andy also shares what it felt like to step away from operating a company, the power of "knowing thyself," and how he's helping build Uncork into a firm that stays sharp through founder empathy and relentless context-switching.

We also cover:

• The story behind Founders Pledge and giving back
• The British "GBx" network in Silicon Valley
• San Francisco's turnaround, tech getting political, and why local government actually matters
• The AI revolution — why everything feels like an AI company right now, what's overhyped, and why we're still in the very earliest innings

Uncork Capital

Something Ventured