In this episode of the Startup CPG Podcast, host Hannah Dittman sits down with Josh Resnick, co-founder and General Partner at OpenSky Ventures—an early-stage consumer venture firm investing in food, beverage, health, wellness, lifestyle, and the technology that powers growth for consumer brands. Josh brings a rare combination of serial entrepreneurship, deep operating experience, and investor pattern recognition to the table, having built a video game studio (Pandemic Studios) that he sold to Electronic Arts, co-founded the luxury confections brand Sugarfina, and spent years as an angel investor before launching OpenSky.
OpenSky invests at the pre-seed stage with opportunistic Series A involvement, writing checks of $100K–$200K in Fund 1 and scaling to $500K checks in Fund 2 (targeting $25M). What sets them apart is that both partners are former operators — a background that shapes how they access deals, how they evaluate founders, and how they show up as partners over the long haul.
Josh and Hannah dig into everything founders need to know about the fundraising process: how valuations work (and why they're more art than science), why chasing the highest valuation can actually hurt you down the road, and how to think about runway, dilution, and building a cap table that genuinely adds value. They also explore what separates the brands that break through from the ones that don't — from storytelling and brand community to unit economics and must-have product positioning.
They also walk through the full spectrum of funding stages, from the friends-and-family round all the way to Series A, with clear, practical definitions founders can actually use to locate themselves on the journey.
Listen in as they cover:
- Josh's journey: from Malibu lemonade stands to Pandemic Studios, Sugarfina, and OpenSky Ventures
- OpenSky's investment thesis: stage, categories, check size, and what's changing in Fund 2
- The parallels between founders fundraising and VCs fundraising — and what that reveals about what investors need to see
- Why valuation is more art than science — and the real risks of setting it too high too early
- What a down round signals to investors and how it can trap a brand in a cycle
- The case for slowing down: why jumping straight into Costco might not be the right first move
- How to think about runway — and why you should always raise a little more than you think you need
- The founder traits Josh sees in every successful company he's backed: problem solving, storytelling, authenticity, and "must have" positioning
- A founder spotlight: Becca at Fishwife, and why lean cost DNA and branding instincts are a winning combination
- What makes a great investor partner — and the specific questions founders should ask before they sign
- A clear breakdown of the funding stages: friends & family, pre-seed, seed, and Series A
- Advice for anyone who wants to break into CPG investing — and why becoming an LP first might be the smartest move
Whether you're a founder preparing to fundraise, an operator thinking about the jump to investing, or just someone who wants to understand how early-stage CPG capital actually works, this episode is packed with practical, hard-won insight.
Episode Links:
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Show Links:
- Transcripts of each episode are available on the Transistor platform that hosts our podcast here (click on the episode and toggle to “Transcript” at the top)
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- Questions or comments about the episode? Email Daniel at podcast@startupcpg.com
- Episode music by Super Fantastics
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