LA Venture Podcast: Miroma Ventures' Will Schmitt Wants You To Prioritize Marketing

Minnie Ingersoll
Minnie Ingersoll is a partner at TenOneTen and host of the LA Venture podcast. Prior to TenOneTen, Minnie was the COO and co-founder of $100M+ Shift.com, an online marketplace for used cars. Minnie started her career as an early product manager at Google. Minnie studied Computer Science at Stanford and has an MBA from HBS. She recently moved back to L.A. after 20+ years in the Bay Area and is excited to be a part of the growing tech ecosystem of Southern California. In her space time, Minnie surfs baby waves and raises baby people.

On this week's episode of L.A. Venture, hear from Will Schmitt, the head of venture strategy at Miroma Ventures. Miroma Ventures is the investment arm of The Miroma Group, which is made up of a collective of smaller marketing agencies. Their venture team works with Fortune 500 companies like Spotify, Starbucks, Masterclass and Netflix to help build brand awareness and recognition.



Schmitt's portfolio focuses his investments in food and beverage, beauty, personal care, marketing and tech, with a particular affinity for food and beverage.

Schmitt also is incredibly passionate about marketing. He keeps a sharp eye on the latest digital trends. In our discussion, he explains the startup selection process at Miroma, and how the group is not only looking for high growth in terms of profits, but also their digital presence.

He says it is the goal of the investment group to create a cohesive story for their brands across all platforms and products, with strong and visible core values. Schmitt believes that this consistency is essential to building brand recognition, standing out against other products and cementing a loyal customer base.

Schmitt adds that Miroma specifically looks for companies with a narrative that can succeed nationally, not just appeal to a niche customer base. He believes most companies are not spending enough on their marketing and says Miroma aims to fix that by acquiring a number of smaller marketing firms they can deploy to help their brands succeed.

On the rest of this episode, Schmitt talks about specifics he looks for as an investor, his growth-led approach to helping startups, and more details about what he views as the future of marketing.

Will Schmitt is the head of venture strategy at Miroma Ventures, and the co-founder and managing partner at Trail Post Ventures.

"I've done kind of the corporate finance experience. I've done the investment banking experience. I've done private equity. And now, I've been focused on the early-stage within venture. And so I think having that background where I have different experiences that I can leverage and different people within the network that can add value in different ways is — is invaluable." — Will Schmitt

dot.LA Engagement Intern Colleen Tufts contributed to this post.

Want to hear more of L.A. Venture? Listen on Apple Podcasts, Stitcher, Spotify or wherever you get your podcasts.

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Hollywood Crews, Studios Reach Tentative Deal to Avoid a Strike

Harrison Weber

Do you know something we should know about L.A. tech or venture capital? Reach out securely via Signal: +1 917 434 4978.

Harrison is dot.LA's senior finance reporter. They previously worked for Gizmodo, Fast Company, VentureBeat and Flipboard. Find them on Twitter: @harrisonweber. Send tips on L.A. deals to harrison@dot.la. Pronouns: they/them.

It appears the show will go on.

The union representing Hollywood production crews announced it has struck a tentative deal with the alliance representing major studios and giants in tech.

The move averts what would have been the first walkout for Hollywood crews since World War II as well as the union's first national strike since it was formed more than a century ago. However, union members must still decide on whether to ratify the agreement in an upcoming vote. In the meantime, all work will "continue without interruption," the union said.

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Q&A: Bobacino CEO Darian Ahler Makes His Case for Food Automation

Decerry Donato
Decerry Donato is an editorial intern at dot.LA. She received her bachelor’s degree in literary journalism from the University of California, Irvine. She continues to write stories to inform the community about issues or events that take place in the L.A. area. On the weekends, Decerry can be found hiking in the Angeles National forest or sifting through racks at your local thrift store.

After a year and a half of the pandemic, the robots have arrived—at least in restaurants.

A new report from market research firm Global Industry Analysts (GIA) found that the global food automation market grew to $9.7 billion in 2020, spurred in part by a desire to offer customers contactless service. The GIA researchers projected the market would swell to $13.6 billion by 2026.

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Like Etsy but for Latinas, Shop Latinx Raises a Pre-Seed Round

Decerry Donato
Decerry Donato is an editorial intern at dot.LA. She received her bachelor’s degree in literary journalism from the University of California, Irvine. She continues to write stories to inform the community about issues or events that take place in the L.A. area. On the weekends, Decerry can be found hiking in the Angeles National forest or sifting through racks at your local thrift store.

The beauty and fashion industry isn't as skinny and white as it once was. Makeup for darker skin tones are more widely available, shapes are changing and so are perceptions. This year, Leyna Bloom graced the cover of Sports Illustrated. She's a trans woman of color. But sometimes, it can all feel a bit inauthentic.

That's how Brittany Chavez, a 30-year-old whose parents hailed from Nicaragua and Guatemala felt when she founded Shop Latinx. Her lifestyle and makeup ecommerce site debuted last October as home for Latinx and BIPOC (Black, Indigenous, and People of Color) brands
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