We've entered an era of Fintech Maximalism according to Mark Goldberg

Equity

TechCrunch

Founders, Silicon Valley, Finance, Ipo, Vc, Technology, Business News, Startups, Business, Venture Capital, News, Stock Market, Entrepreneurship, Techcrunch

4.2 • 365 Ratings

🗓️ 16 April 2025

⏱️ 28 minutes

🔗️ Recording | iTunes | RSS

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Summary

After nearly a decade at Index Ventures, where he backed standout fintech companies like Plaid, Persona, Lithic, and Pilot, Mark Goldberg left to launch Chemistry, an early-stage venture firm. Founded alongside Kristina Shen and Ethan Kurzweil, the $350 million fund is part of a growing trend in venture capital: seasoned investors breaking out from large platforms to build more focused, boutique outfits. Today on Equity, Mary Ann Azevedo caught up with Goldberg about what led him to make the move, what Chemistry is all about, and how the venture landscape has evolved over the past few years. Listen to the full episode to hear more about: The state of fintech, a sector Goldberg has long had his eye on—and why he sees “a lot more tech-fin than fintech” these days Why those waiting for a wave of fintech IPOs might be in for a long hold What he’s watching for in 2025 and beyond, from the impact of AI on fraud to shifting deal activity, including a pickup in M&A and secondaries Equity will be back with our weekly news roundup on Friday, so don’t miss it! Equity is TechCrunch’s flagship podcast, produced by Theresa Loconsolo, and posts every Wednesday and Friday. Subscribe to us on Apple Podcasts, Overcast, Spotify and all the casts. You also can follow Equity on X and Threads, at @EquityPod. For the full episode transcript, for those who prefer reading over listening, check out our full archive of episodes here. Credits: Equity is produced by Theresa Loconsolo with editing by Kell. We’d also like to thank TechCrunch’s audience development team. Thank you so much for listening, and we'll talk to you next time. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This episode is brought to you by Affinity, the most trusted CRM for private capital.
0:17.6	Hello and welcome back to Equity TechCrunch's flagship podcast about the business of startups.
0:23.0	I'm Marianne Acevedo, and this is the episode where we bring on industry experts to help us explore a trend in the tech world and dive deep.
0:31.2	Today, we're joined by Mark Goldberg, founder in GP at Chemistry.
0:35.4	Mark, welcome to the show.
0:36.8	It's not your first time, but it has been a little while,
0:39.2	a couple of years, right? A couple of years and a new fund, and it's great to be here, Marian. Thanks for
0:43.4	having me. Yeah, thrilled to have you back. I know a lot has happened since we last spoke. For one,
0:48.3	you left Index Ventures after many years to help start this new firm called Chemistry with
0:53.6	Christina Shen and Ethan,
0:55.8	is it Kurzweil? Is that pronouncing his name correctly? That's correct. You got it. You nailed it.
0:59.9	Okay. So now you were at index for about nine years. While you were there, you invested in some
1:04.8	fintech companies to say the least, such as plaid, persona, lithic, and pilot. But I'd like to hear more about chemistry. I know
1:13.4	a few things. It's a $350 million early stage fund. I'd like to know more about your actual
1:19.0	investment thesis, though. Well, first off, it's great to be here and talking to you in this
1:22.6	context. We are about to hit our six-month milestone as a new fund corresponding almost exactly with
1:29.0	we just had a third kid three weeks ago. I'm just back from paternity leave. So no small
1:34.1	amount of things going on between the new fund and three kids under five at home. But this is the
1:38.3	most fun I've ever had professionally. And even though it's busy, it's a blast. Wait a minute.
1:42.8	Did you just say three kids under five?
1:45.3	That is correct.
1:46.0	Wow.
	...

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