Alisa Carmichael: Building Strong Investor Partnerships for Lasting Success

Alisa Carmichael is a leading investment partner at VMG Partners, where she’s built a reputation for backing category-defining consumer brands and building relationships with founders, becoming an extension of their teams to help them succeed. Alisa has been instrumental in strategically scaling brands like Briogeo, The Honey Pot, and Drunk Elephant. She’s passionate about supporting founders of color and investing in their vision for sustainable growth.

Key Insights from Nancy’s Conversation with Alisa

As a guest on the Makers Mindset podcast, Alisa talked about building investor relationships early, having a crystal-clear understanding of your financials before fundraising, and how you can create an advantage by staying organized while you’re raising. Here are some of the highlights:

1. Choose the Right Investors

Alisa stressed that choosing investors is about more than just locking down capital. The right investor brings you guidance and a network that can support your long-term goals. 

“There’s a lot of different types of investors… Find people that really understand your business and the category and can add some perspective that you may not have.”

Takeaway: The right investors will partner with you to support your immediate needs and longer-term growth. Look for people who understand your category and can help you sidestep common pitfalls.

2. Build Relationships Early

The strongest investment partnerships are built long before you need funding — and it can take years to create a foundation of trust. Alisa recommends going to industry events and trade shows — even connecting through a thoughtful cold email.

“Think about investment partners way before you need investment… Start the journey way before you actually need investment so that you’re able to really canvas, build relationships, and find the right partner.”

Takeaway: It’s really never too early to network. You’ll open doors to connections and mentorship, and identify people who align with your vision.

3. Understand Your Financial Needs

Alisa notes that repeated fundraising can dilute ownership and shift focus away from your core mission. Knowing your financials — what’s coming in, what’s going out, and when you’ll break even — lets you make smarter decisions.

“People should get really focused on understanding the cash flows of the business… You don’t want to get to a place where you need to raise again in six months and are continually diluting yourself in the business.”

Takeaway: Pay very close attention to your financial needs to understand how much funding to go after. Constant fundraising can make it a lot harder to maintain control over your company.

3. Understand the Challenges of Viral Growth

Going viral can boost your brand’s visibility, but it often comes with logistical challenges — like inventory shortages and the need to scale customer service fast. Artemis thinks founders need to be cautious about relying on viral moments.

“The most successful brands have been the ones that have grown over time and don’t have that huge spike, because usually with a huge spike comes a huge fall too.”

Takeaway: Viral success can be great if you have a plan for managing the sudden influx. But keep your main focus on long-term growth, not short-term trends.

4. Stay Organized in Challenging Fundraising Environments

Fundraising is competitive. By staying organized, you can avoid deal fatigue and keep investors engaged and motivated. Alisa recommends having a well-prepared pitch deck, financial records, supply chain data, and a clear growth strategy to show investors that you’re ready to move forward seamlessly.

“Be incredibly organized during the period of fundraising, because it’s really competitive for capital right now. You don’t want to lose the momentum.”

Takeaway: Presenting organized, detailed information shows investors your commitment and readiness, allowing you to keep momentum and prevent the deal from stalling.

Alisa Carmichael’s success is rooted in thoughtful partnership, strategic planning, and her passion for helping BIPOC-founded businesses thrive. Her conversation with Nancy is a really helpful reminder that raising funds is a two-way partnership. The right investors understand your business and can transform your growth. And the right founders not only have a clear vision for that growth, but can communicate back to the investors how it will happen.

What did you take away from Alisa’s episode of Makers Mindset? Tune in to the full episode and share your thoughts in the comments section below.