The Private Equity Podcast, by Raw Selection

• How to approach AI implementation, and Karmel Capital's AI investing strategy outlined

  In this episode of The Private Equity Podcast, Alex Rawlings welcomes Scott Neuberger, Co-Founder and Managing Partner of Karmel Capital, a private equity firm investing in late-stage software and AI companies. Scott shares deep insights into how Karmel Capital leverages AI within its investment process, how they identify and evaluate late-stage tech businesses, and why they’re placing strategic bets in the infrastructure layer of AI.Scott explains the firm's capital efficiency-focused strategy, how they rank companies, and what metrics truly distinguish iconic businesses from the rest. He also discusses how AI is transforming internal operations and why firms must go beyond the hype to truly implement impactful AI solutions.Later in the conversation, Scott offers practical advice to portfolio company leaders on how to begin leveraging AI meaningfully—starting with labor-intensive areas like customer support. He finishes by outlining Karmel’s top-down investment approach to sectors like cybersecurity and why infrastructure plays offer value and growth.Whether you're investing in tech, operating a portfolio company, or just curious about how AI intersects with private equity, this episode is packed with real-world insight.⌛ Episode Highlights & Time Stamps:00:03 – Introduction to Scott Neuberger and Karmel Capital 01:00 – Scott’s journey: entrepreneur turned investor 02:19 – The mistake of investing too early in venture capital 03:47 – Why Karmel focuses on measurable, repeatable metrics 04:45 – How they assess capital efficiency in tech companies 06:41 – Key metrics and importance of experienced management teams 08:38 – Evaluating human capital and talent within portfolio companies 10:05 – Zooming out: The “mosaic theory” of identifying strong investments 10:33 – How Karmel Capital uses AI internally for data collection & analysis 13:22 – AI investing: why infrastructure is Karmel’s focus 15:49 – Pick-and-shovel strategy: betting on infrastructure vs. applications 17:44 – Advice for portfolio execs on where to begin with AI 18:43 – Customer support as a high-impact AI use case 21:09 – Navigating noise in AI investing: how Karmel decides where to play 22:34 – Case study: AI in cybersecurity and the top-down analysis approach 24:59 – The arms race in cybersecurity: AI on both offense and defense 25:29 – Scott’s reading and listening habits (inc. 20VC podcast) 26:56 – How to contact ScottConnect with Scott Neuberger: 📧 Email: [email protected] 🌐 Website: www.karmelcapital.comRaw Selection partners with Private Equity firms and their portfolio companies to secure exceptional executive talent. We focus on de-risking executive recruitment through meticulous search and selection processes, ensuring top-tier performance and long-term success.🔗 Connect with Alex Rawlings on LinkedIn: https://www.linkedin.com/in/alexrawlings/ 🌐 Visit Raw Selection: www.raw-selection.comLooking to grow your team? Check out our Hiring Guidesfor proven strategies, templates, and best practices to make smarter hires. 

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• Preparing for Your Management Presentations to Investors & Acquirers

  🗣️ Guest: Carola Kamuff – Presentation Coach | Author of Quick Guide Management Presentation 🎧 Host: Alex Rawlings, Founder of Raw Selection⏱️ Key Topics & Timestamps:00:00 – Meet Carola Kamuff Former M&A exec turned expert in coaching management teams for exit presentations.01:54 – Why Communication Matters Carola explains her shift from numbers to narratives and why people—not just slides—drive deal success.02:49 – The Biggest Mistake Teams often prepare too little, too late—focusing on slides, not delivery or messaging.04:15 – Rehearsal ≠ Training Rehearsals test flow. Training transforms behavior, delivery, team dynamics, and confidence.06:41 – Crafting a Powerful Story From stats to storytelling—how real examples bring presentations to life and increase credibility.09:35 – Even Experienced Execs Benefit Exit presentations are high-stakes. Even confident leaders gain clarity, alignment, and polish from coaching.12:51 – Does it Really Move the Needle? Yes—Carola shares a real example where coaching turned around investor perception and revived interest.14:47 – High Impact, Low Time Commitment Just a few focused sessions over weeks can significantly improve presentation outcomes.16:14 – Three Keys to SuccessStoryline that resonatesCohesive team deliveryObjective, external feedback18:38 – Carola’s Recommended Reads & Listens 📚 Resonate, Slide:ology, Talk Like TED 🎧 Think Fast, Talk Smart, The Moth 📘 German: Quick Guide Management Presentation by Carola Kamuff20:05 – Connect with Carola Find her on LinkedIn: Carola KamuffKey Takeaway: Your management presentation can boost—or break—your valuation. Great slides aren’t enough. Confidence, storytelling, and preparation make the difference.Raw Selection partners with Private Equity firms and their portfolio companies to secure exceptional executive talent. We focus on de-risking executive recruitment through meticulous search and selection processes, ensuring top-tier performance and long-term success.🔗 Connect with Alex Rawlings on LinkedIn: https://www.linkedin.com/in/alexrawlings/ 🌐 Visit Raw Selection: www.raw-selection.comLooking to grow your team? Check out our Hiring Guidesfor proven strategies, templates, and best practices to make smarter hires. 

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• Data, Deals, and Disruption The Real AI Shift in Private Equity

  In this episode, Alex Rawlings speaks with Jamyn Edis, digital transformation expert, former VC-backed CEO, and NYU professor. Jamyn shares actionable insights on using AI, data, and automation to drive performance across private equity firms and their portfolio companies.From dynamic pricing models and A/B testing to agentic AI and accelerating product cycles, Jamyn explains how to cut through the hype, identify real opportunities, and turn AI into measurable value.⏱️ Episode Highlights00:00 – Meet Jamyn Edis 30+ years in consulting (Accenture), corporate (HBO, Take-Two), startups, and teaching at NYU. Focused on the intersection of tech, data, and private equity.02:23 – Common Mistake in PE Most firms treat data as plumbing, not strategy. Shift from backward-looking reporting to predictive and prescriptive analytics.03:48 – AI That Delivers ROI AI must be embedded into daily operations, not stuck in R&D. Productize, operationalize, and commercialize—or risk irrelevance.05:15 – How AI Builds on Data AI is powered by historical data but creates forward-looking insights. Use it to improve pricing, marketing, and operations.06:42 – Case Study: Take-Two Interactive Jamyn led data science initiatives to optimize pricing and marketing—replacing gut decisions with data-driven experimentation.08:08 – AI as PE’s Next Value Driver AI is the new operating system for PE. After leverage and digital transformation, the next edge is intelligence at scale.09:31 – Advice to PE Firms Skeptical? “Get out before the business gets out of you.” Overwhelmed? Start small, build prototypes, and focus on real use cases.11:04 – Agentic AI in Action Jamyn shares examples of cutting development cycles, boosting campaign ROI, and improving customer service with AI agents.13:26 – From Problem to Prototype Diagnose real pain points, create business and technical requirements, and build targeted AI tools that solve specific problems.14:50 – AI Won’t Replace Humans, But... Those who use AI will outperform those who don’t. Jamyn explains Jevons Paradox and why productivity leads to new jobs.18:46 – How Jamyn Diagnoses Opportunities Structured discovery process, stakeholder interviews, and clear roadmaps to identify where AI and tech can drive value.22:10 – Every PE Firm Needs an AI Stack Soon, AI tools will be as essential as data teams or web developers. Invest now in people, platforms, and processes.23:06 – The Future is AI + Human Judgment Firms that embed AI deeply—and pair it with operator judgment—will unlock the next generation of alpha.24:21 – Jamyn’s Book: The Fifth Horseman An exploration of how AI mirrors humanity and transforms the way we live and lead. AI is trained by us—and reflects us.29:07 – What Jamyn Reads & Recommends Books: The Hard Thing About Hard Things, Understanding Media Podcasts: Pivot, Ezra Klein TV: Succession – “Still the best corporate training program ever made.”🔗 Connect with Alex Rawlings on LinkedIn: https://www.linkedin.com/in/alexrawlings/ 🌐 Visit Raw Selection: www.raw-selection.comLooking to grow your team? Check out our Hiring Guidesfor proven strategies, templates, and best practices to make smarter hires. 

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• How to Build a Go-To-Market Strategy That Scales in Private Equity

  Guest: Brian Gustason, Operating Partner at Craig Group Host: Alex Rawlings, Founder of Raw Selection🔍 Episode Summary:In this episode, Brian Gustason shares practical insights on building scalable go-to-market (GTM) strategies for lower-middle-market, PE-backed companies. With over 25 years of operating and advisory experience, Brian explains how to move beyond traditional, backward-looking due diligence and implement forward-focused GTM strategies across marketing, sales, and customer success.He walks through a real-world case study of transforming a $30M founder-led business—covering ICP development, sales process creation, lead qualification, and customer retention. Brian also discusses how marginal gains across key sales metrics (win rates, ACVs, churn) can compound into significant growth and how CEOs, sales leaders, and boards can drive accountability and execution.⏱️ Timestamps:00:00 – Brian’s background and role at Craig Group 01:30 – Why traditional due diligence often fails to assess growth 03:00 – Real-world GTM transformation of a founder-led distributor 06:00 – Building ideal customer profiles (ICPs) and prioritising markets 09:00 – Improving lead qualification and using pre-suasion techniques 14:00 – Structuring an effective, trainable sales process 17:30 – Playbooks, documentation, and AI tools to support sales 20:00 – Importance of coaching and ongoing process evolution 23:00 – Growth 2.0: Compounding small improvements across KPIs 27:00 – Who owns GTM? Role of CEO, sales leaders, and the board 29:00 – Brian’s content recommendation: The 80/20 Principle and his LinkedIn series📚 Resources:Craig Group: www.craiggroup.ioConnect with Brian on LinkedIn: Brian GustasonBook Recommendation: The 80/20 Principle by Richard KochRaw Selection partners with Private Equity firms and their portfolio companies to secure exceptional executive talent. We focus on de-risking executive recruitment through meticulous search and selection processes, ensuring top-tier performance and long-term success.🔗 Connect with Alex Rawlings on LinkedIn: https://www.linkedin.com/in/alexrawlings/ 🌐 Visit Raw Selection: www.raw-selection.comLooking to grow your team? Check out our Hiring Guidesfor proven strategies, templates, and best practices to make smarter hires. 

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• How Storytelling Meets Strategy Niklas James’ Media-Driven Investment Approach

  🎙️ The Private Equity Podcast — Niklas James, Founder of Minds Capital Host: Alex Rawlings | Guest: Niklas JamesIn this episode, Alex is joined by Niklas James, Founder of Minds Capital, an independent sponsor investment platform. They explore what sets successful sponsors apart, why industry specialization matters, and how media can supercharge inbound deal flow.🕒 Episode Highlights00:00 – Niklas’ background: Bain, VC, HBS, and independent sponsor journey 01:17 – Founding Minds Capital: investing $1–$3M in sponsor-led platforms 01:42 – The biggest PE mistake: poor self-marketing and lack of differentiation 02:34 – Why “founder-friendly” isn’t enough — real differentiation is key 04:24 – Using podcasting and LinkedIn for inbound deal flow 05:21 – Why niche expertise drives better deals and exits 06:20 – Case study: investing in an eyewear veteran 07:14 – Why Minds Capital favors independent sponsors over traditional funds 10:03 – Value creation via EBITDA growth and multiple expansion 11:59 – Deal evaluation: downside protection, upside, and conviction 13:53 – Red flags, realistic base cases, and what sets great deals apart 16:17 – How Minds Capital assesses sponsors: 5 key criteria 18:07 – Sponsors need transparency, gravitas, and skin in the game 19:53 – Becoming a media-first PE firm: lessons from podcast success 22:13 – Content strategy: LinkedIn cadence and community building 23:10 – How media enhances deal flow and selectivity 24:32 – Niklas’ reading picks: The Compounders in Private Equity, Alex Hormozi’s books 25:58 – Connect with Niklas on LinkedIn🔑 Key TakeawaysStand Out: With 19,000 PE firms in the U.S., a generic pitch won’t cut it. Sponsors must articulate clear differentiation.Media = Inbounds: Minds Capital uses podcasting and LinkedIn to generate proprietary deal flow and investor interest.Industry Fit Wins: Deep sector knowledge translates into better deals, stronger exits, and investor confidence.Diligence Matters: Every deal is vetted through a rigorous process of risk checks, valuation analysis, and sponsor alignment.People First: The sponsor’s experience, character, and skin in the game are just as important as the numbers.🎧 Listen to the Minds Capital Podcast Weekly episodes with top independent sponsors.📨 Connect with Niklas James 🔗 LinkedInRaw Selection partners with Private Equity firms and their portfolio companies to secure exceptional executive talent. We focus on de-risking executive recruitment through meticulous search and selection processes, ensuring top-tier performance and long-term success.🔗 Connect with Alex Rawlings on LinkedIn: https://www.linkedin.com/in/alexrawlings/ 🌐 Visit Raw Selection: www.raw-selection.comLooking to grow your team? Check out our Hiring Guidesfor proven strategies, templates, and best practices to make smarter hires. 

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