Monthly people move spotlight: Brock Weatherup joins Vetted Capital
Brock Weatherup. Photo illustration: Axios Visuals. Photo: Courtesy of Brock Weatherup
Brock Weatherup, an investor and executive in the pet space, was named partner at pet-focused Vetted Capital, which announced its forthcoming $50 million first close in October.
Why it matters: A PitchBook report found companies with lead investors that have domain expertise are 20% more likely to successfully exit through an acquisition or IPO. In 2023, specialist vehicles accounted for more than a quarter of VC funds raised.
Zoom in: Weatherup said Vetted Capital's combination of broader funding expertise and sector-specific knowledge gives it a leg up.
- "The dynamic brings a bit more to the equation," he says. "It can create a longer-lasting, bigger impact, which amplifies the financial reward."
Catch up quick: Funding in pet-focused companies has steadily declined since venture capitalists poured record amounts into the sector in 2021, according to PitchBook.
- The decline in pet-related funding comes as investors favor areas like AI and biotech over consumer products and services, according to Crunchbase.
🗣️ What he's saying: "The pet industry has been an unstoppable force in terms of growth. It's an interesting place to play as an investor, with a whole lot of ways to win."
📍 How he got here: Weatherup has a history in the pet industry as an angel investor, an alum of Petco, PetSmart, GreatPet and PetCoach, and more than $200 million in operating exits.
By the numbers: Just over 15% of pet-focused funding in private markets is due to capital infusions beyond Series A rounds, per a PitchBook report citing Vetted's marketing materials.
- Vetted Capital is stage-agnostic but focuses heavily on Series A-C.
Best advice: "It's OK to be vulnerable," Weatherup said. "It's OK to try and fail, but at least you learned."
Fun fact: Weatherup says a line of baseball caps for dogs was the most random pet product he's been pitched.
