In this episode of the Millionaire Mindcast, we have a magnificent guest, Bridger Pennington who shares the value, and tools that he’s building on gives tips on how to start a fund, how to find investors, how to structure the terms of your fund and deal, what are the pros and cons of syndication and the fund, and the best strategies for raising capital!
Bridger Pennington is the Founder of Black Bridge Capital: Privately run debt fund that has done over 142 deals in 38 states over the last 18 months. He helps people launch highly lucrative funds (PE, VC, Hedge, and Debt).
Ever since Bridger is a hustler, he was in First Year College when he started tutoring Chinese kids but stopped because it didn’t make much money. Then, he got in real estate and wholesaling for a while. Bridger grew up in a super entrepreneurial home. His family was living a very frugal life that anyone couldn’t imagine without knowing that his father had already started a successful funding business. Bridger was shocked, amazed, and inspired as he found out his father’s business, so he worked hard to learn everything about the fund.
Later, Bridger follows his father’s footsteps and builds his own fund business out from scratch without a penny from his father’s pocket. He figured out everything through advice and tips from his father. Bridger is a risk-taker who is not afraid of raising money and pitching his fund. He believes that it’s all about finding the right person to be your partner with.
Now, Bridger is coaching people on how to structure funds, find amazing investors and partners, and helping people understand what fund really is. Helping out people especially young guys raising millions of money to go out there and start their funds.
Some Questions I Ask:
- Who are you, brother? What do you stand for? What do you do? (00:53)
- Why start a fund? What are some of the benefits and the things that people can overlook that can help them scale opportunities? (07:26)
- How do you help people overcome some of those limiting beliefs and common misconceptions of starting a fund are complicated as what many people think it is? (11:02)
- How to start a fund? (15:44)
- How lean can one run a fund? (21:10)
- What are the pros and cons of syndication versus funds? (25:41)
- What are some of the different structures that maybe people should be thinking about or doing more research on how to structure the terms of their fund and the deal? (30:07)
- Give us one or two simple strategies for raising capital. (35:40)
- What is your vision and goals with your investment fund moving forward? (43:22)
In This Episode, You Will Learn:
- The two governing documents of the fund –‘the bible of the fund’. (04:40)
- How Bridger structure and build a fund from scratch. (06:25)
- SID Funds – what type of fund is. (09:03)
- Tips on raising money and starting a fund business. (11:36)
- The pros of being able to understand the fund. (17:29)
- Best strategies for winning investors. (30:59)
- Credit Investors and Non-Credit Investors. (31:33)
- The purpose of LCC. (32:32)
- The pros of partnering with credit investors. (33:56)
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