What if the best venture returns come from avoiding trends—not chasing them? In this episode, I sit down with Colin, Co-Founder of Narya, to discuss how he approaches investing in frontier sectors without falling into mimetic behavior. Colin explains why the best opportunities are often “hidden in plain sight,” how mission-driven investing can still generate venture-scale returns, and why concentration, not diversification, drives outcomes in venture. We also explore defense, space, and advanced manufacturing, and how timing, business model innovation, and founder quality ultimately determine success.

Highlights:

Why chasing popular sectors often leads to worse outcomes
How to identify “hidden in plain sight” opportunities
Why venture returns are driven by a few concentrated bets
What most investors misunderstand about deep tech investing
How mission-driven companies can still deliver top-tier returns
Why too much capital can hurt startups more than help
The traits that define world-changing deep tech founders
Why business model innovation matters as much as technology

Guest Bio:

Colin is a Co-Founder of Narya, where he focuses on investing in early-stage companies across sectors such as defense, healthcare, and advanced manufacturing. He previously served as a Managing Director at Mithril and held senior roles across leading venture platforms, investing in companies spanning biotechnology, neuroscience, and enterprise software. Colin also serves as an advisor to multiple investment and accelerator platforms, and has built a career backing founders working on complex, high-impact problems.

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Sponsor:

AlphaSense is the AI-powered market intelligence platform trusted by 85% of the S&P 100, helping investment professionals make faster, more confident, data-driven decisions. Built for hedge funds, asset allocators, private venture capital firms, and investment bankers, AlphaSense uses advanced AI and powerful search across premium proprietary content to surface the insights that matter most—before the market moves. Elevate your research and stay ahead of the competition. Visit https://www.alpha-sense.com/howiinvest/ to learn more.

Stay Connected with David Weisburd:

X/Twitter: @dweisburd LinkedIn: https://www.linkedin.com/in/dweisburd/ Weisburd Capital: https://www.weisburdcapital.com/

Stay Connected with Colin Greenspon:

LinkedIn: https://www.linkedin.com/in/colingreenspon/

Questions or topics you want us to discuss on How I Invest? Email us at david@weisburdcapital.com.

Disclaimer:

This podcast is for informational purposes only and does not constitute investment, financial, legal, or tax advice. Nothing in this episode should be interpreted as an offer to buy or sell any securities or to participate in any investment strategy. All opinions expressed by the host and guests are their own and do not represent the views of Weisburd Capital. Participants may hold positions or have financial interests in the companies, funds, or investments discussed. Any references to specific investments are for illustrative purposes only. Investing involves risk, including the potential loss of capital. Past performance is not indicative of future results, and any forward-looking statements are subject to risks and uncertainties. Any third-party data or opinions have not been independently verified. Listeners should conduct their own research and consult their own advisors before making any investment decisions.

(0:00) What Made JD Vance a Dangerous (and Different) Investor (2:20) Can You Invest in Innovation Without Losing Money? (5:47) Why Most “Contrarian” Investors Are Actually Late (8:54) The Hidden Mistake LPs Make With Diversification (10:44) Why Billionaires Back New VC Funds (It’s Not Returns) (14:00) Why the Best Companies Don’t Follow Categories (19:09) Why Space Is Becoming the Next Battlefield (24:09) What Separates World-Changing Founders From Everyone Else (27:00) Why Too Much Capital Kills Great Companies (43:02) The Career Mistake That Slows Most Investors Down

E352: JD Vance’s Co-Founder on Space Defense, Hard Tech, and the Biggest Opportunities Ahead