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AUGUST 19, 2025
Breaking Into VC: Built With People, Not Pedigree
Bona's Alum, Fund Advisory Board Member, Shares His Journey
by Denzel Gregg
When I first stepped into venture capital, I didn’t know what to expect. I didn’t come from Wall Street, consulting, or a startup. My background was all over the place: professional athlete, a stint in politics, back into college athletics, and then law school. The closest thing I had to VC on my resume was a finance degree I earned nearly ten years ago and never really used. So, I walked in with no experience, just curiosity and the willingness to learn. Eighteen months later, I’ve realized that venture capital isn’t just about numbers, valuations, or exit multiples. At its core, it’s about people. And that’s something anyone, from any background, can learn if they’re willing to. The Paperwork Only Gets You So Far One of my earliest experiences as an intern in VC was dealing with the fund paperwork—LPAs, subscription agreements, governance language. To be honest, it was overwhelming at first. I was still a law student learning how to parse dense documents, and suddenly I was looking at contracts that determined how millions of dollars would be governed. But the deeper I got into it, the more I realized the real lesson wasn’t in the fine print. The paperwork creates the framework, but it doesn’t create trust. A Limited Partner doesn’t invest because the clauses are airtight. They invest because they believe the people running the fund will honor those words. That process felt familiar. In law school, you quickly learn that it’s not enough to recite rules; you also have to apply them in a way that gives people confidence. A client doesn’t hire you just because you know the statute. They hire you because they believe you’ll use that knowledge to protect their interests. The same is true with LPs. They’re not investing in the document. They’re investing in the people behind it. What I found is that the paperwork process is actually a relationship test. It forces you to explain things clearly, to be transparent about risks, and to show humility when you don’t have every answer. If you handle that process with openness, the documents become a safety net. If you handle it with arrogance, the documents become walls. One of my earliest lessons in VC was simple: the documents set the rules, but the relationships set the tone. The trust you build in those conversations lasts longer than any signature. Founders Are Betting on You Too I used to assume the dynamic in VC was one-sided. Investors had the money, founders needed it. But after sitting with dozens of founders, I realized it’s more mutual than I ever imagined. When a founder takes your capital, they’re not just accepting a check. They’re making a bet on you. They’re asking themselves hard questions: Will this investor stick around when things get messy? Will they make introductions that actually move the needle? Will they believe in me when the numbers don’t tell the whole story? Some of my most meaningful experiences in venture haven’t involved spreadsheets or valuations at all. They’ve been the moments when a founder called after running dry on capital and we worked together to develop strategy and a path forward. Or when we connected them to someone in our network who helped accelerate their sales process by months. Or when we simply listened, no agenda, because sometimes that’s what a founder actually needs. It reminded me of my time as an athlete. A great coach isn’t measured only by how they celebrate wins, but by how they respond to losses—what they say in the locker room when the scoreboard looks bad, how they instill belief when momentum feels gone. Founders, like athletes, need people in their corner who believe in them not just when they’re winning, but when they’re fighting uphill. Writing a check is the easy part. What founders really remember is how you showed up when there wasn’t a clear win on the table. Money is transactional. Belief and support are relational. And in the long run, founders gravitate toward investors who invest in both. Markets Move, People Endure Markets are fascinating to study. I’ve spent hours digging into sectors like broker connectivity and fintech infrastructure, trying to understand what felt like the most nuanced product-market fit. But the longer I’ve been in VC, the clearer it’s become that markets are fluid. They expand, contract, pivot, and sometimes vanish altogether. What doesn’t change is how people respond when the market turns. Some founders freeze when conditions shift. Others adapt and use the turbulence as fuel. The best don’t just ride the wave. They build boats sturdy enough to weather storms. I saw this firsthand working in municipal government through COVID. Overnight, the playbook went out the window. Budgets collapsed, businesses shut down, and citizens looked to leadership for stability. In those moments, it wasn’t about having the perfect policy on paper. It was about staying composed, communicating clearly, and finding solutions when none seemed obvious. Some leaders froze; others adapted. The ones who led effectively weren’t necessarily the most experienced, but the ones who had the grit to keep moving when the pressure mounted. Venture works the same way. The founders worth betting on aren’t always in the hottest market. They’re the ones who steady the ship when the water gets rough, who don’t panic when deals stall, and who find another way forward when the first plan fails. You can learn market dynamics from a book. You can model growth curves in a spreadsheet. But character under pressure? That’s something you only see in people. And in venture, that’s where the real bet is. Learning Is the Real Job Coming into VC, I didn’t have the traditional toolkit. I wasn’t a banker or consultant with years of deal experience. I had to build it on the fly, asking what felt like “basic” questions, poring over financials, and learning how to spot red flags in governance documents. What surprised me most was how open people were if I just admitted I didn’t know something. Instead of pretending, I asked. Instead of assuming, I listened. Over time, the questions got sharper, the instincts more reliable, and the confidence more natural. What I thought was a weakness—starting from scratch—actually turned into a strength, because it forced me to approach everything with humility and curiosity. It reminded me of law school. On day one, no one really knows how to read a case or think like a lawyer. You stumble through, you get cold-called, you second-guess yourself. But slowly, the repetition builds discipline. You learn to ask better questions, to analyze differently, and to see patterns where you once saw noise. Venture has been no different, just with higher stakes and a different set of textbooks. The real job in VC isn’t about already having all the answers. It’s about building the discipline to keep learning. Markets change. Deal structures evolve. Technologies shift. If you think you’ve “arrived,” you’re already behind. And this lesson applies far beyond venture. You can break into any field, whether it’s law, politics, or venture, if you stay curious, humble, and willing to learn. The technical knowledge will come. The mindset has to be there first. The Human Side of Venture Eighteen months into venture capital, the biggest lesson I’ve learned is that this work is far less about money than it is about people. Paperwork matters, but trust matters more. Markets shift, but character endures. Founders need more than capital—they need belief. And no matter where you start, the real job is to keep learning. I came into this field with no traditional background. Athlete, politics, law student—nothing on my résumé said “venture capitalist.” But that turned out not to be a weakness. If anything, it made me approach the industry with fresh eyes and open ears. I’ve learned that you can break into any field if you’re willing to do the work, stay humble, and connect with people in a real way. The technical side of venture—valuations, diligence, structures—can be taught. What makes the difference is showing up as someone others want to work with. Because in the end, the cap table tells you who owns what, but it doesn’t tell you who showed up when it mattered. And that’s the part people never forget.
RECENT NEWS
A Silicon Valley startup choosing Western New York as its next-gen launch site had a great ring to it two years ago. But KAV Helmets, the Redwood City, California-born innovator of cycling helmets through 3D printing and AI manufacturing, has now doubled down on Buffalo. Founder Whitman Kwok announced at a grand opening event at KAV's Louisiana Street production center Thursday that the maker of custom-fit cycling helmets will call Buffalo its full-time home for all manufacturing; leaving The Valley behind for another Valley; that of the Queen City's Old First Ward. "It's not just the talent that we find here, it's the people who've been supportive, and a community that has helped us take the next step," Kwok said to a gathering of state, local and regional leaders. "This is the definition of true success for a community," said Colleen Heidinger, President of 43North, the state accelerator program that awarded KAV one million dollar as part of its annual startup competition in 2024. "We invested in KAV, wrapped our services and support around Whitman and his team. But then, the community stood up around him." Heidinger specifically mentioned the investment by Brown and White Ventures, the year-old venture capital fund built by alumni and supporters of St. Bonaventure University which operates independently of the university. "When Brown and White invested, that was a sign of this community's commitment to KAV and in 43 North," Heidinger said. KAV became Brown and White Ventures' first portfolio company in Q1 2025. The fund followed a $200,000 initial investment with a follow-on investment of $100.000 in Q2. "Innovation in manufacturing, in the region in which our fund seeks to invest, is one of the reasons we continue to support Whitman and the KAV team," said Jim Aroune, co-founder of Brown and White Ventures. "I was struck by your passion, for pursuing health, safety, and new technology, and in this place, with such an industrial past, that makes such a connection to what makes Buffalo. You are, truly, a perfect fit," Bonnie Lockwood, Regional Director of WNY, said to Kwok and KAV staff. Lockwood spoke at the factory opening event on behalf of New York Governor Kathy Hochul. KAV's Buffalo plant has operated the last two months with a staff of five. It has produced KAV's two helmet models, including its Rhoan helmet, the company's newest model. Kwok said Wednesday the company would hire three, and up to ten employees in its new micro-factory, which has dozens of nearly-silent 3D printers spinning the company's helmets. "We are extremely excited to grow with this community," Kwok said.
August 7, 2025
In a time when one in four Americans have been victimized by package theft on their property, 2025 seemed right for an answer to what's become a $12 billion annual crime impacting 58 million people in the U.S. Enter Hello Package and its tech-driven, customer-focused response. Hello Package's smart package solution, rolling out into housing developments, creates on-site, open-shelving access in multi-family and student housing communities. Creators of PackageSolutions' lead service say HelloPackage has four times the capacity of normal package locker solutions. Its commitment to innovation and tech advancement provides human assistance and automatic adaptation to the growing e-commerce industry and large-scale increase in package volume. HelloPackage leaders call it a future-proof product. HelloPackage creates adaptive spaces in existing housing structures and also offers a solution that includes an independent package pod, where both delivery staff and residents have digitally provided access. See how the system works in the company's short demonstration video: https://www.youtube.com/watch?v=IWKW9Q71LdI Brown and White Ventures announced August 1, 2025 its investment commitment to PackageSolutions and HelloPackage.
August 4, 2025
Brown and White Ventures Invests In HelloPackage
Fund Backs Tech-Driven Package Management Solution
Brown and White Ventures has reached an agreement to invest in Package Solutions, a startup whose lead service, HelloPackage, redefines last-mile logistics in multi-family and student housing through AI, automation, and on-site holding of deliverable packages. In HelloPackage, PackageSolutions has built a system which centralizes delivery management, package tracking, and resident communication into one intelligent system. HelloPackage, founded in Atlanta, Georgia, manages thousands of packages and delivery drivers each month—reducing operational costs, improving resident experience, and creating new NOI for property owners. “What Brown and White Ventures finds in HelloPackage is a company that enhances security and convenience in a universal experience: the home delivery of goods and services,” Jim Aroune, co-founder and General Partner of Brown and White Ventures, LLC. “PackageSolutions is poised to successfully leverage technology to address this challenge, especially for those who live in multi-unit housing and residential developments.” "We’re excited to have Brown & White Ventures join us as a strategic partner and advisor in our next phase of growth. Their investment reflects confidence in our technology, team, and vision to deliver AI, computer vision, and service that simplify last-mile logistics and elevate the resident experience,” said Paul Favorov, CEO/CTO of PackageSolutions, maker of HelloPackage. Owners and operators use HelloPackage to reduce onsite staff burden, lower costs, and improve resident satisfaction—helping communities lease faster and retain residents longer. HelloPackage currently serves 52,000 units, including communities managed by NMHC Top 20 Owners and Operators. The company processes more than six million packages annually and maintains a 4.4-star resident satisfaction rating across more than 50,000 reviews. “With the support from Brown & White Ventures, we’ll accelerate customer implementations, expand into key markets like Texas and the West Coast, and bring our AI-driven logistics solution to more communities overwhelmed by packages and delivery drivers,” Favorov said. Its commitment to PackageSolutions is Brown and White Ventures’ fifth investment in a portfolio company in its first year of distributing funding to startup companies. Learn more about HelloPackage at: https://www.hellopackage.com
August 1, 2025
WHY BROWN AND WHITE VENTURES?
Integrity
Behaving honorably, even when no one is watching. We follow moral and ethical principles in all aspects of business and extend strong ethical practices in decision making, interacting with colleagues and serving customers or clients.
Insight
Being able to see or understand something clearly, often sensed using intuition. Understanding the company goals enables us to find solutions to even the most difficult tasks.
Experience
Varied professional experiences makes a difference in venture capital. Our willingness to share that experience and see our companies through adds value to our portfolio.
Investment Focus

Healthcare and Medical Startups
Shaping the future of wellness

Supporting Diversity in Entrepreneurship
Fostering diversity in entrepreneurship

Tech and Energy Startups
Driving progress towards sustainable solutions

WNY, FLX, CNY and Upstate
Generating growth in the University footprint.
