Stare Down the Bull EP 9: Inside Venture Capital With Eric Collins: Power, Access, and Who Really Gets Funded
By Susan Hunt
January 19, 2026
The biggest challenge facing underrepresented founders isn’t talent or ambition. it’s access to capital, proximity to power, and unequal support after funding.
That’s the core truth Eric Collins unpacks in this episode of Stare Down the Bull. And there are only a few people inside venture capital to say out loud.
What This Conversation Is Really About
This episode isn’t a highlight reel of impressive credentials — though Eric’s story spans the Obama Administration, venture-backed exits, AI-driven startups, and global impact investing.
It’s a clear-eyed look at:
- How venture capital actually works behind the scenes
- Why “one-size-fits-all” funding models fail founders
- What underrepresented entrepreneurs need after the check clears
- Why doing good and doing well can — and must — coexist
Capital Is Not a Single Problem It’s a Segmented One
One of the most important insights Eric shares is this:
Not all businesses should be funded, scaled, or supported the same way.
High-growth technology startups, government-contracting firms, and service-based businesses each require different capital strategies. Treating them as interchangeable leads to poor outcomes especially for founders already operating at a disadvantage.
For many founders, the real need isn’t capital at all. What they really need:
- Working capital
- Revenue stability
- Banking and credit access
- Strategic partnerships
Mislabeling these needs as “lack of ambition” or “lack of hustle” misses the point entirely.
The Quiet Reality of Venture Portfolios
Perhaps the most candid moment of the conversation comes when Eric explains a truth most founders don’t hear until it’s too late:
Not every company in a VC portfolio gets the same level of support.
Even after funding, investors often decide, consciously or not, which companies they believe will “win the race.” Those companies get:
- Introductions
- Media exposure
- Strategic support
- Ongoing advocacy
Others may technically be “in the portfolio” — but without the same access to opportunity.
For founders from underrepresented backgrounds, this disparity shows up more often and more starkly.
Why ImpactX Took a Different Approach
Rather than replicating traditional VC patterns, ImpactX intentionally looks where others don’t while maintaining rigorous investment standards.
Their thesis is simple:
- Differentiated deal flow creates differentiated returns
- Talent is evenly distributed; opportunity is not
- Capital alone doesn’t erase bias
- Support systems matter
That means surrounding founders with access, relationships, and credibility in addition to funding.
Doing Good and Doing Well Isn’t Optional
Eric’s story, from advising the Small Business Administration to investing in AI-driven companies across Europe reinforces a powerful truth:
Inclusive investing isn’t charity. It’s strategy.
When capital flows to overlooked founders with real support behind it, the outcome isn’t just social impact, it’s stronger companies, healthier economies, and more sustainable growth.
If you’re a founder, investor, or advisor, this episode offers something rare:
An honest look at how power, capital, and opportunity intersect and what it takes to change the system without pretending it doesn’t exist.
This is a conversation worth sitting with and rethinking how you build, fund, and scale what comes next.
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