Stop Taking Dumb Money

This week on Swimming with Allocators, Craig Schedler, head of Intuit Ventures and former leader of Northwestern Mutual’s venture program, breaks down how corporate VC really works across both direct investments and LP commitments. He shares lessons on defining a clear “north star” for corporate venture programs, balancing strategic and financial goals, and using LP relationships to gain early insight into emerging areas like AI-native fintech and agentic commerce. Craig explains how corporates evaluate and diligence funds, what GPs often get wrong when pitching corporate LPs, and why having a thoughtful LP strategy can amplify a lean venture team. He also highlights future opportunities in vertical-specific wealth management and AI for the Main Street economy, plus practical advice for founders and GPs on working effectively with large organizations and corporate investors. Also, Shane Goudey of Sidley explains how the Invest Act and the broader “retailization” of venture expand access to private markets while significantly increasing risk, responsibility, and potential litigation exposure for managers taking on less sophisticated capital. Highlights from this week’s conversation include: Craig’s Path From Investment Banking to Intuit Ventures (0:19) Defining the North Star for Corporate Venture (3:31) Why Corporate VCs Should Consider LP Investments (5:56) Moving from Direct Investments to Fund Commitments (8:09) Diligencing Funds and Setting LP Expectations (10:26) Fintech’s Shift toward Vertical AI (15:42) Using LP Networks to Explore Agentic Commerce (17:55) The Invest Act, Retail Investing, and Investor Risks (20:19) How Corporate Venture Programs Demonstrate Value (27:10) Translating between Startups and Large Organizations (31:44) Why GPs Should Welcome Corporate VCs (36:18) Intuit Ventures and the Corporate Development Team (40:23) Opportunities in Career-Specific Wealth Management and AI (42:02) Building Stronger Startup–Corporate Partnerships (44:52) Intuit Ventures invests in companies that are helping shape the future of financial technology for consumers and small businesses. The team focuses on direct investments from Series A through Series C and uses fund relationships to expand market coverage, access differentiated insight, and strengthen Intuit’s connection to the broader venture ecosystem. Learn more at www.intuit.com. Sidley Austin LLP is a premier global law firm with a dedicated Venture Funds practice, advising top venture capital firms, institutional investors, and private equity sponsors on fund formation, investment structuring, and regulatory compliance. With deep expertise across private markets, Sidley provides strategic legal counsel to help funds scale effectively. Learn more at sidley.com. Swimming with Allocators is a podcast that dives into the intriguing world of Venture Capital from an LP (Limited Partner) perspective. Hosts Alexa Binns and Earnest Sweat are seasoned professionals who have donned various hats in the VC ecosystem. Each episode, we explore where the future opportunities lie in the VC landscape with insights from top LPs on their investment strategies and industry experts shedding light on emerging trends and technologies. The information provided on this podcast does not, and is not intended to, constitute legal advice; instead, all information, content, and materials available on this podcast are for general informational purposes only. Learn more about your ad choices. Visit megaphone.fm/adchoices