Back the Founder, Not Just the Idea: Black Seed

In this live episode of Virgin StartUp Changemakers, Natalie Pearce sits down with Black Seed co-founder Karl Lokko to explore what investors really look for in founders and why access to capital still isn't equal.

From entering venture capital with little experience of how funds worked to raising millions to back Black founders, Karl shares the realities behind building Black Seed and challenging an investment system where great businesses and founders can still be overlooked. He explores the power of storytelling, why a little healthy delusion can be a founder advantage, learning from hundreds of rejections and knowing whether venture capital is actually the right funding route for your business.

Whether you're preparing to raise investment, working out how to tell your founder story or deciding which funding route is right for your startup, this episode offers a candid investor perspective on resilience, relationships and what it takes to turn belief into momentum.

In this episode:

• Why Black Seed was created to address unequal access to startup investment
• The "healthy delusion" Karl believes founders need
• Why early-stage investors often back the founder as much as the idea
• Creating a compelling story around your business rather than relying on numbers
• What Karl learned from more than 200 fundraising pitches
• Turning investor rejection into a valuable feedback loop
• Why warm introductions still matter in venture capital
• Knowing when your startup is actually ready for VC investment
• Why raising investment can create problems if your business fundamentals aren't ready
• Building community alongside capital to support overlooked founders
• Maintaining belief and energy through a difficult founder journey

Changemakers is brought to you by Virgin StartUp, the not-for-profit organisation helping founders start and scale the businesses they're passionate about.

Recorded live at Virgin StartUp's Changemakers events, every episode features honest conversations with entrepreneurs, founders and business leaders sharing the lessons, challenges and ideas shaping the future of business.

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Find out more at virginstartup.org

Brought to you in partnership with our friends at Virgin Money - the home of brighter business banking.

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