Podcast Summary: The Investor With Joel Palathinkal – Episode Featuring Tatiana Mulry of Steamwork Ventures

Episode Information:

• Title: Tatiana Mulry: Steamwork Ventures
• Host: Dr. Joel Palathinkal
• Release Date: July 29, 2025
• Description: An in-depth conversation with Tatiana Mulry, highlighting her journey from investment banking to venture capital, her entrepreneurial endeavors, and insights into growth marketing and work-life balance.

1. Introduction to Tatiana Mulry and Her Background

The episode opens with Dr. Joel Palathinkal welcoming Tatiana Mulry from Steamwork Ventures. Tatiana shares her diverse upbringing, moving from Westchester County, New York to rural Pennsylvania before returning to NYU for her undergraduate studies in economics.

Tatiana Mulry [01:27]: "I grew up in New York... I studied economics undergrad, and that landed me in a very interesting opportunity to work with investment banks back in the heyday like this, the birth of the Internet."

2. Career Journey

a. Investment Banking at Baring Securities

Tatiana begins her professional journey at Baring Securities, focusing on Latin American investment strategies and later transitioning to a healthcare equity analyst role. She highlights her involvement in writing extensive research reports and participating in the excitement surrounding the emergence of the Internet.

Tatiana Mulry [03:19]: "When I worked in investment banking... we started to be able to communicate in near real time... It was a completely different world."

b. Transition to MasterCard

Seeking stability amidst the tumultuous environment post-Glass-Steagall Act repeal, Tatiana moved to MasterCard. She managed "Rules," overseeing chargebacks and e-commerce transactions, which involved creating systems to ensure secure and efficient online transactions.

Tatiana Mulry [17:29]: "I became really involved in a lot of enterprise IT projects and built out a chargeback compliance system... It was a really cool time."

She further expanded her role by initiating MasterCard's mobile strategy, anticipating the shift towards mobile payments long before it became mainstream.

Tatiana Mulry [22:46]: "The idea of contactless payments I was testing back in 2000... we eventually got tokenization infrastructure to keep your card safe for contactless payments."

c. Entrepreneurship and Consulting

After a successful decade at MasterCard, Tatiana ventured into entrepreneurship by founding her own startup, Ed Rover, an iPhone app focused on charity check-ins. Despite initial enthusiasm and successful participation in corporate pitch competitions, she faced challenges with nonprofit classification by the IRS, leading to the eventual shutdown of the app.

Tatiana Mulry [47:56]: "After running it for four years and shutting it down, I now know where I went wrong... It was too early for that."

Subsequently, she shifted to consulting, working with major brands like JCPenney, State Farm, and AT&T on mobile marketing and growth strategies.

3. Founding Steamwork Ventures

Motivated by her entrepreneurial experiences and a desire to support underrepresented founders, Tatiana co-founded Steamwork Ventures. The firm focuses on investing in startups across medtech, fintech, climate tech, and IoT, aiming to bridge technical innovations with commercial success.

Tatiana Mulry [55:23]: "We love picking companies that we think are going to impact the world in a positive way... our thesis is around connected solutions that impact health, wealth, and earth."

Steamwork Ventures emphasizes a hands-on approach, offering strategic support without overstepping into operational roles, thereby fostering sustainable growth for their portfolio companies.

4. Work-Life Balance and Management Insights

Tatiana candidly discusses the challenges and rewards of balancing a demanding career with raising three children. She attributes significant growth in her management skills to motherhood, transitioning from a micromanager to a more strategic and supportive leader.

Tatiana Mulry [00:00]: "The best thing I ever did and that improved my management was have babies... I was a micromanager. I wanted everything to be done my way."

She emphasizes the importance of efficiency and focus, often using her role as the breadwinner to drive ambition and dedication in her professional endeavors.

5. Growth Marketing Strategies

A substantial portion of the discussion centers around Tatiana’s expertise in growth marketing. She outlines key strategies for startups, including:

• Understanding the Funnel: Analyzing each step of the user journey to identify and eliminate choke points.
• Content Strategy: Creating evergreen content that continuously attracts users over time.
• Product-Led Growth: Enhancing the product to inherently drive user acquisition and retention through features that encourage sharing and usage.

Tatiana Mulry [38:05]: "Every company is a little bit different. You just look at the funnel and you say, how do I get people through this whole process?"

She also touches on the challenges of finding and retaining skilled growth marketers who can balance both strategic thinking and execution.

6. Challenges and Lessons Learned

Throughout her career, Tatiana has encountered various challenges, from regulatory hurdles with her startup to the volatility of venture capital environments. She shares valuable lessons, such as the importance of building strong networks and the necessity of resilience in the face of setbacks.

Tatiana Mulry [33:42]: "If it's not going fast enough, if people don't get it... they want to take out what they can."

Her experiences underscore the unpredictable nature of startups and the critical role of adaptability and perseverance.

7. Q&A Highlights

In the Q&A segment, Tatiana addresses questions related to:

• Balancing Work and Parenthood: Advocating for parental leave and flexible work arrangements to support working parents.

  Tatiana Mulry [27:35]: "I think it should be parental leave, right. If every parent can take time they need off..."

• Venture Capital Fund Strategy: Discussing the diverse thesis of Steamwork Ventures and the reception from Limited Partners (LPs).

  Tatiana Mulry [64:42]: "LPs are generally high net worth individuals, smaller family offices, and they need... they actually do care more about diversification than you might think."

• MBA Pursuit: Explaining her decision to pursue an MBA to enhance her quantitative skills and expand her professional network.

  Tatiana Mulry [61:32]: "I wanted to brush up on my quant skills. I wanted to develop a deeper network in Los Angeles..."

8. Conclusion and Final Thoughts

The episode concludes with Tatiana reflecting on the evolving landscape of venture capital and technology. She expresses optimism about the future, emphasizing the continuous innovation driven by software, data, and fintech.

Tatiana Mulry [67:35]: "Data and software and fintech, it's embedded in everything... It's fascinating to see where this is going to lead."

Dr. Joel Palathinkal thanks Tatiana for her insightful contributions, highlighting the value of her experiences for current and aspiring investors and entrepreneurs.

Notable Quotes:

• Management Transformation Through Motherhood

  [00:00] "The best thing I ever did and that improved my management was have babies."

• Early Internet Enthusiasm in Investment Banking

  [01:27] "I remember sitting on the trading floor while Netscape was going public... it was super exciting to see the birth of something really new."

• Founding Steamwork Ventures

  [55:23] "Our thesis is around connected solutions that impact health, wealth, and earth."

• Growth Marketing Essentials

  [38:05] "You have to really sit down and think like what is your North Star?"

• Work-Life Balance and Career Ambition

  [30:20] "Having kids made me also need to work harder, which I think sometimes my colleagues didn't understand."

This episode provides a comprehensive look into Tatiana Mulry's multifaceted career, offering valuable insights into investment banking, fintech innovation, entrepreneurship, and venture capital. Her experiences underscore the importance of adaptability, strategic thinking, and community support in navigating the complex landscapes of modern business.