What do yoga pants, Andreessen Horowitz, and AI-driven IVF have in common? They’re all chapters in Kristina Simmons’ unconventional journey to founding Overwater Ventures, a seed-stage fund backing breakthrough technology in human and planetary health.
On this episode of the Ignite Podcast, Kristina sits down with host Brian Bell to share how her nonlinear path—from launching Lululemon’s e-commerce to investing in next-gen biotech—has shaped her bold, brand-forward approach to venture capital. If you're a founder, aspiring investor, or just curious about the future of deep tech, this episode is a goldmine of insights.
Here’s what you missed (but shouldn’t):
💡 Why Reinventing Venture Means Leaving the Big Funds Behind
Kristina left prestigious firms like Andreessen Horowitz and Khosla Ventures to start her own. Why?
"To reinvent venture, you can't do it inside a 20-year-old institution."
She believes that smaller, more focused funds not only outperform but also offer better alignment with early-stage founders. At Overwater, she’s intentionally building a more hands-on, flexible model—one that blends the best of big-brand VC support with startup-level agility.
From Startup Operator to Super-Connector
Kristina’s career didn’t start in finance—it started in hustle. She cold-pitched her way into Lululemon before the brand even had e-commerce, helping launch their digital presence and innovation pipeline. Her experience scaling teams, building brand DNA, and working across tech platforms gave her a front-row seat to how brands (and businesses) win.
This operator-first mentality now defines her investing style.
"The best investors have been operators. They know when to swoop in and when to swoop out."
🧬 Overwater’s Investment Thesis: Deep Tech, Deep Impact
Overwater focuses on technologies with the potential to radically reshape industries—not just improve them incrementally. Think:
AI-powered drug discovery
Longevity science and biomarkers
Wildfire prevention
Fertility innovation and IVF transformation
Sustainable food and chemicals
Her approach is systems-first, problem-first, and always future-focused. She looks for undercurrents of change in consumer behavior, societal needs, and technical acceleration.
“We look for massive market potential, unique tech, and founders who move fast and think bigger.”
🧠 The Art of Storytelling in Science-Heavy Startups
Kristina doesn’t mince words when talking about deep tech founders: too many struggle to explain why their idea matters.
“It’s not enough to have a brilliant white paper. You need to make investors—and the world—care.”
One of the most common mistakes she sees? Founders treating fundraising like a research pitch. At Overwater, she and her team help companies develop their storytelling, go-to-market, and defensibility strategies early—turning high-potential tech into investable narratives.
🌱 Commercializing Science Without Losing Soul
Overwater isn’t just a VC fund—it’s a platform for scaling hard tech in a human way. Kristina’s vision blends the structured scale of A16Z with the deep conviction bets of Khosla, and the brand ethos of Lululemon. Instead of bloated internal teams, she taps a curated network of advisors and operators—what she calls “on the dock” programming—to provide tailored support.
And the fund’s name? A subtle nod to her mission: helping founders stay over water, not under it.
🧭 Why Now Is the Time to Bet Big on Frontier Innovation
While some VCs retreat in a volatile market, Kristina is leaning in. Advances in AI, biology, neuroscience, and onshoring tech have never been more investable—or more urgent.
“The cost structures are coming down. The talent is there. The tech is there. We just need more investors willing to take big bets.”
🧠 Underhyped Trends She’s Watching
If you're a founder or investor looking for what’s next, Kristina’s radar includes:
Next-gen pesticides and chemicals
Neurotech and brain-health platforms
Preventative, personalized healthcare
Sustainable manufacturing and supply chain automation
The rise of direct-to-consumer science companies
🔁 Lessons for Founders, From Pitch to Product
If Kristina had to boil her advice to early-stage founders down to one thing?
“Think bigger—then scale back. And learn to tell your story like it actually matters. Because it does.”
From being disciplined about valuations to bringing your brand to life before your product is fully baked, her message is clear: Breakthrough startups need both brilliant science and bold storytelling.
Chapters:
Welcome & Kristina Simmons Introduction (00:01 – 00:40)
Why Start a New Fund Outside of Big VC (00:41 – 02:35)
The Case for Smaller Checks and Leaner Startups (02:36 – 03:52)
Early Hustle: From Michigan to Lululemon (03:53 – 06:15)
Entering Venture via Andreessen Horowitz (06:16 – 07:43)
Lessons from Khosla Ventures (07:44 – 10:54)
Overwater's Investment Thesis and Framework (10:55 – 15:15)
Problem-First Thinking and Prepared Mind Approach (15:16 – 19:43)
Portfolio Highlights: Fertility, Food, Fire Prevention (19:44 – 22:18)
Redefining Consumer vs. Enterprise in Deep Tech (22:19 – 23:28)
Preventative Health and Real-Time Biomarkers (23:29 – 26:24)
AI, Longevity, and Drug Development (26:25 – 29:15)
Pitching Deep Tech: Common Founder Mistakes (29:16 – 30:44)
Hands-On VC vs. Passive Capital (30:45 – 33:09)
Fund Strategy: Lessons from Fund I (33:10 – 34:54)
Overwater Brand and Founder Support Model (34:55 – 36:24)
How Founders Should Build Brand Early (36:25 – 38:44)
Underhyped Frontier Tech Trends (38:45 – 40:30)
Why Now Is a Great Time for Big Bets (40:31 – 41:59)
Fundraising Strategy & Investor Psychology (42:00 – 43:36)
Final Advice & Rapid Fire Round (43:37 – 45:48)
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