Ventured Growth with Hercules Capital

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The food delivery landscape is changing. As consumer demands grow more sophisticated, companies must innovate—balancing speed, quality, and personalization to stand out in a saturated market. But can convenience and quality coexist in this fast-paced industry? Is there a way to truly personalize the dining experience while catering to the individual needs of each customer?

Kelley Morell is the CFO of Wonder, a rising "super app" for mealtime. In this episode, Hercules Capital's Ruslan Sergeyev speaks with Kelley about her career journey, transitioning from an accomplished investor at Blackstone to leading the financial strategy of this startup. She reveals the unique approach Wonder is taking to conquer the food tech space, combining a multi-faceted platform with strategic acquisitions to offer an unparalleled consumer experience.

Topics Include:

• Wonder's evolution from mobile kitchens to a hybrid brick-and-mortar and delivery model
• The challenges of competing in a crowded market and differentiating Wonder's offering
• The role of AI in personalizing food recommendations and creating a seamless user experience
• Building a strong team and culture to support rapid growth
• Wonder's future plans for national expansion and a potential IPO
• And other topics...

Kelley Morell is the CFO of Wonder, a rapidly growing food tech company aiming to become the "super app" for mealtime. With extensive experience in both investing and operating, Kelley provides a valuable perspective on building a successful business in a dynamic industry. Her insights into the future of food, the power of technology, and the importance of a strong team offer inspiration for anyone looking to disrupt the status quo.

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The gaming and platform industries are dynamic sectors at the intersection of technology and entertainment, constantly evolving to meet the demands of a global audience. In 2022, the revenue from the worldwide gaming market was approximately $347 billion.
Ed Lu, a seasoned executive with 23 years of financial and operational experience, has played a pivotal role in this landscape, dedicating thirteen years as the CFO at online gaming and platform companies. Ed is the current Chief Financial Officer at Fandom, the world’s largest gaming and entertainment community platform.
In this episode, Hercules Capital's Lesya Kulchenko and Ed Lu discuss Ed’s CFO experience within gaming and platform companies, top advice for new founders and aspiring CFOs in today’s business landscape, choosing between building, buying, and partnering, the key factors for successful acquisitions, when to pursue bargain opportunities, and much more.
Topics Include:

• Ed’s top priorities as a CFO in today’s business landscape
• Essential advice for emerging founders and aspiring CFOs
• Core values that led Ed to leadership
• The advice Ed gratefully avoided
• Choosing between building, buying, and partnering
• Key factors for successful acquisitions
• When companies should pursue bargain opportunities
• Factors outside of work that shape Ed as the “non-CFO CFO”
• And other topics...

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Ed Lu is a seasoned executive with 23 years of financial and operational experience and thirteen years as CFO at online gaming and platform companies. He is the current Chief Financial Officer at Fandom, the world’s largest gaming and entertainment community platform. During his tenure, Fandom has grown revenue by more than 3x, acquired three companies, and doubled its employee base to 500.
Before joining Fandom, Ed served as the CFO for Outpost Games and Machine Zone. His tenure at Machine Zone involved raising over $800 million in combined financings, overseeing revenue growth from $8 million to $1.7 billion, and scaling the company from 30 to 1000+ employees. In his free time, he also enjoys serving as a strategic advisor for other digital gaming companies.
Resources Mentioned:
“Top 10 Start-Up Tips for Founders,” by Ed Lu: https://www.linkedin.com/feed/update/urn:li:activity:6998677341623267328/

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In the aftermath of the 2020 biotech surge and its subsequent contraction in 2022, the biotech industry has been characterized by significant volatility. There were 21 biotechnology IPOs in 2022, a notable decrease from the record-breaking 104 IPOs in 2021.
To review the highs and lows of 2023 and explore what lies ahead in 2024, distinguished biotech analyst and co-founder of Endpoints News John Carroll joins Hercules Capital's Janice Bourque. Carroll brings 45 years of award-winning journalism, and a specialization in biopharma spanning over two decades to discuss the biggest pharma deals and surprises of 2023, the impact of AI on drug development, the future of biotech in Asia, and much more.
Topics Include:

• The biggest pharma deals and surprises of 2023
• AI’s impact on drug development
• Whether or not the Inflation Reduction Act will impact pricing
• John’s major lessons from 2023
• The future of biotech in Asia
• The greatest concerns for the biotech industry going into 2024
• John’s hopes for the industry in the new year
• And other topics...

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John D. Carroll is a biotech analyst and writer with decades of prize-winning experience in journalism. A co-founder of Endpoints News, he has covered biopharma for the past 15 years. Carroll has been quoted by The New York Times, The New Yorker, Financial Times, The Times of London and more. He’s also keynoted at biotech gatherings around the world and addressed student audiences at MIT and Harvard. Carroll has contributed stories from Central America and Ireland to the Dallas Morning News and Time and wrote for the Houston Press. He spent 6 years as editor and publisher of the Dallas Business Journal, was publisher of Texas Business and early in his career was part of a Pulitzer Prize-winning team of reporters and editors at the Kansas City Star & Times.
Resources Mentioned:
Endpoints News: https://endpts.com/
Connect with John:
LinkedIn: https://www.linkedin.com/in/john-carroll-884aa410/

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Successful biotech companies require a capable CFO to guide the company through conducting clinical trials, securing regulatory approvals, establishing scalable production, and adeptly conveying value to healthcare stakeholders.
Mark Hahn is a seasoned executive with over 25 years of CFO experience. He is currently the CFO of Verona Pharma, a clinical-stage biopharmaceutical company focused on developing and commercializing innovative therapies for the treatment of chronic respiratory diseases with significant unmet medical needs.
In this episode, Hercules Capital’s Janice Bourque is joined by Hahn to discuss his experience as CFO of Verona, Dova, and Cempra, the intricacies of single-asset companies, preparing a company for FDA approval and commercialization, identifying a successful launch, and much more.
Topics Include:

• Mark’s experience as CFO of Verona, Dova, and Cempra
• The intricacies of single-asset companies and the challenges when raising capital
• The steps a CFO should take when preparing for FDA approval and commercialization
• What biotech companies should focus on before presenting to the FDA
• How to know when you’ve had a successful launch
• Mark’s experience as a CFO with a late-stage asset
• And other topics...

Mark Hahn is a seasoned CFO with over 25 years of experience. He joined Verona Pharma as CFO in 2020. Prior to Verona, Hahn served as CFO of Dova Pharmaceuticals through its 2019 acquisition by Swedish Orphan Biovitrum for $915 million. There, he was instrumental in raising capital and launching the company’s first commercial product. Prior to Dova, Hahn was CFO of Cempra, where he led the company’s IPO and several subsequent follow-on offerings until the company’s acquisition by Melinta Therapeutics in 2017. Earlier, Hahn was the CFO of several other public and private companies. Hahn began his career at Ernst & Young. He received a Bachelor of Business Administration degree in accounting and finance from the University of Wisconsin-Milwaukee and is a certified public accountant in Maryland and North Carolina.

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Sports and games are a huge part of our lifestyle and culture and will continue to be for generations to come. But how can investors and creators encourage growth and take advantage of this unique market?
Investor, founder, and entrepreneur Kai Bond had spent over a decade in the gaming industry when he realized he wanted to approach gaming as an investable category. So he partnered with the startup Courtside VC, a venture capital firm that challenges the traditional definition of sports, digital media, fitness, and gaming.
In this episode, Eddie Lopez and Kai talk about Kai’s entrepreneurial journey, how to approach gaming as an investable category, Kai’s take on web3, the future of gaming, diversity in the venture community and more.
Topics Include:
- Understanding what it means to be a good CEO
- Challenge of coming from the corporate world to the startup world
- The state of venture capital in Q1 2022
- The importance of transparency and discipline in VC
- What Courtside learned during 2020
- Evolution of monetizing assets in gaming
- Kai’s take on Web 3.0
- The future of gaming
- Why timing matters in the venture market
- How to increase diversity in venture capital
- And other topics...
Kai Bond is a partner at Courtside, a VC company that partners with early-stage founders who are challenging the traditional definition of sports, digital media, fitness, and gaming. Before Courtside, Kai was a Principal at Comcast Ventures where he led investments in Catalyst Fund, a seed-stage fund focused on investing in underrepresented founders.
Kai was the founder of pixieTV, an interactive SmartTV platform that was acquired by Samsung in 2014. After that, Kai moved into the role of GM at Samsung NEXT. Kai has held leadership positions in product strategy, business development, and M&A at Microsoft, GLG, and Hatch Labs. Kai is a graduate of Wesleyan University.