drew glover - fiat ventures

“My path to venture was a ‘backdoor’—a contractual right-to-invest that changed everything.”

February 10, 2025

Connect with Drew

VC Uncovered's View

This week, we spotlight an investor who embodies the grit and unconventional thinking that defines this new wave of venture capital. Growing up in an underserved community, our featured VC saw firsthand how limited resources and opportunities could stifle potential. Instead of accepting that status quo, they built a new model—pairing strategic advisory services with a venture fund to create a platform that not only invests but actively drives growth.

Why does this matter? Because traditional VC often rewards pedigree over resilience, leaving out founders who don’t fit a typical mold. Nimble funds like this one are changing the rules. They focus on building equitable access, shaping markets rather than just following them, and backing companies that disrupt entire industries while supporting communities overlooked by the old guard.

At VC Uncovered, we believe that the next generation of venture capital thrives on inclusivity, real support beyond just capital, and the audacity to spot hidden gems. Our featured investor this week proves that with the right mindset, you can rewrite the blueprint for what venture capital looks like—and who it serves.

Meet Drew

Q: You’re in a city, eating, drinking, and reading something. What is it?

A: I’d be in Oakland eating pizza at Arizmendi and reading Unreasonable Hospitality by Will Guidara

“Resilience matters more than brilliance.”

“Data tells me what has worked; intuition tells me what might work next.”

“My path to venture was a ‘backdoor’—a contractual right-to-invest that changed everything.”

“My job is to always be fundraising for my next fund.”

“Success is about creating ripple effects—beyond financial returns.”

Original Responses (Lightly Edited for Clarity and Flow)

Background and Personal Journey

Experiences Shaping My Investment Approach
Growing up in East Oakland, California, with parents devoted to education and housing advocacy, I saw firsthand the power of creating opportunities for underserved communities. Playing football as a walk-on at UC Berkeley instilled resilience, adaptability, and a “never quit” mentality—skills I carry into every investment. My career spans roles in fintech, insurtech, and growth marketing, where I learned how strategic partnerships and data-backed distribution can drive both profitability and positive impact. These experiences have shaped my focus on investing in companies that merge innovation with accessibility to create lasting value.

Moment Inspiring Venture Capital Career
My path to venture capital was unconventional—born out of necessity, ambition, and a bit of ingenuity. While leading growth at Steady and co-founding Fiat Growth, I noticed early-stage companies often lacked resources and mentorship. This gap inspired the creation of Fiat Growth, where we paired strategic guidance with execution. Our work led to over $1.6 billion in new revenue for our clients and, more importantly, a unique contractual Right to Invest (RTI) in most of our consultancy clients. This “backdoor” into venture capital gave us unparalleled access to some of the most exciting fintechs in the market.

The RTI was a game-changer. Most venture capitalists spend 10+ years at established firms before starting their own fund. My co-founder Alex Harris and I, along with Marcos Fernandez, built Fiat Ventures in less than three years—an unconventional route fueled by grit and resourcefulness. Just four years before, I was a sales account executive at an HR tech firm. Fast-forward, and I co-founded a venture fund with two of my closest friends, supporting impactful founders while shaping the future of fintech.

This experience reinforced a critical lesson: access is the cornerstone of venture success. It’s not just about raising capital—it’s about identifying, partnering with, and empowering extraordinary founders. By combining our advisory expertise with investment capabilities, Fiat Ventures became a platform for scalable impact, proving that sometimes the most unconventional paths lead to the most remarkable outcomes.

Influences on My Worldview
My dad’s work at a housing nonprofit profoundly shaped my perspective. He dedicated his career to helping underserved families secure stable, affordable housing, showing me that true success lies in creating opportunities for others. Growing up in Oakland’s underserved community reinforced this lesson, as I witnessed the systemic barriers people faced every day.

These experiences fuel my passion for building equitable opportunities through venture capital. At Fiat Ventures, we invest in founders who align with this vision—startups breaking barriers in financial access, NIL, and beyond. My dad’s commitment to service reminds me that innovation must include everyone to reach its full potential, guiding my work and how I measure impact.

Unconventional Belief
I believe resilience matters more than brilliance. Startups face constant challenges, and it’s often not the smartest but the most adaptable teams that thrive. This perspective makes me prioritize founders who demonstrate grit, humility, and the ability to pivot. A great idea might get you through the door, but sustained success requires a mindset of learning from failure and bouncing back stronger. I see that as the ultimate indicator of long-term potential.

Balancing Intuition with Data
Intuition and data aren’t opposing forces—they’re partners. I rely on data for clarity and to confirm trends, but intuition is what allows me to see beyond the numbers. It helps me assess a founder’s passion, a team’s chemistry, or a market’s unspoken needs. Data tells me what has worked; intuition tells me what might work next. Both are necessary for making sound, future-facing investment decisions.

Best Advice Received
“Stay around long enough to get lucky.” This advice resonates deeply in venture capital, where success often hinges on resilience and consistency. Building a great portfolio isn’t about overnight wins; it’s about showing up, iterating, and staying in the game long enough to spot and seize opportunities others overlook. This mindset has helped me weather tough days and continue pushing forward, knowing luck often follows persistence.

Philosophy and Insights

Investment Philosophy
As a General Partner, my primary responsibility is to act as a fiduciary to my LPs. They invest in me and Fiat Ventures with the expectation of outsized returns, and every decision I make is guided by that obligation. My approach focuses on identifying resilient founders tackling significant problems in large, underserved markets with strong unit economics and scalable potential.

What sets Fiat Ventures apart is the unique advantage we have through Fiat Growth. Our consultancy provides an “unfair advantage” by granting us the Right to Invest in many of the companies we work with. This allows us to engage deeply with founders before investing, gaining firsthand insight into their teams, products, and market dynamics. It de-risks our investment decisions and ensures we’re backing startups with proven execution capabilities.

The goal is always to align vision with execution. I prioritize companies that not only have transformative potential but also demonstrate clear pathways to market leadership. While financial returns are paramount, businesses that create meaningful value for the communities they serve often outperform over the long term.

Fiat Ventures thrives by combining disciplined investment practices with the strategic edge of Fiat Growth. This approach enables us to deliver the results our LPs expect—investing in companies with both the fundamentals and the resilience to drive exceptional returns. Success is about leveraging our advantages to identify and scale ventures that redefine their industries and deliver value across the board.

Values When Working with Founders

  • Transparency: Trust starts with open communication.

  • Empathy: I strive to understand a founder’s unique challenges.

  • Alignment: It’s crucial that we share a vision for long-term success.

By fostering honest relationships, I create partnerships that go beyond capital to become true collaborations.

The Perfect Founder Pitch
A perfect pitch is clear, concise, and compelling. It starts by defining a pressing problem, followed by a scalable solution. It uses data to showcase traction but also highlights the team’s adaptability. Most importantly, it’s backed by a founder with a strong “why”—someone whose passion and resilience make you believe they’re the right person for the challenge.

Approach to Risk
Risk is inherent in venture capital, but my approach focuses on calculated risks with disproportionate upside. I prioritize markets with unmet needs, founders with the ability to pivot, and opportunities where the potential for impact aligns with financial returns. My view on risk has evolved to embrace ambiguity as long as the fundamentals remain strong.

Measuring Success Beyond Returns
Success is about creating ripple effects. Beyond financial metrics, I measure success by the lives impacted, the opportunities created, and the ecosystem strengthened. When founders I’ve supported achieve their goals and pay it forward, that’s the kind of legacy that matters most to me.

Exciting Trends and Technologies
I’m most excited about embedded finance, sustainable tech, and NIL (Name, Image, Likeness). These trends are transforming accessibility, enabling both consumers and creators to unlock new opportunities. Whether it’s athletes managing their brands or platforms integrating financial tools, these innovations are reshaping industries and empowering the underserved.

Misconception About VCs
Many believe VCs are just check writers, but our role is much more. A good VC is a mentor, strategist, and sometimes even a therapist. We’re here to help founders navigate challenges, connect them with the right resources, and ensure they have the support to succeed—not just financially but holistically.

Many also over-romanticize being a VC, especially a GP. My job is to always be fundraising for my next fund.

Improving the VC Ecosystem
Inclusivity remains the biggest opportunity for improvement. By increasing representation among founders and fund managers, we bring diverse perspectives and untapped potential into the ecosystem. The future of innovation relies on welcoming voices from every background.

Challenges for Early-Stage Founders
Early-stage founders struggle most with achieving product-market fit while managing limited resources. VCs can help by offering frameworks to test quickly, facilitating key partnerships, and providing empathetic guidance during tough decisions. It’s not just about capital; it’s about being a partner through the journey.