# Investor Spotlight: Tyler Morgan, BFG Partners

- Show: [The Startup CPG Podcast](https://hardwarepodcasts.com/podcast/the-startup-cpg-podcast)
- Published: 2025-10-04
- Length: 50m
- Episode: 201
- Page: https://hardwarepodcasts.com/podcast/the-startup-cpg-podcast/2025-10-04-investor-spotlight-tyler-morgan-bfg-partners
- Listen: https://share.transistor.fm/s/f7384ef0

## Summary

Tyler Morgan, Principal at BFG Partners, explains the firm's approach to early-stage investing in consumer packaged goods, covering deal sourcing, diligence, and financial metrics. He emphasizes the importance of gross and contribution margins, the value of warm introductions, and how founders should model their businesses for venture capital. Morgan also discusses the changing landscape of strategic exits, LP expectations, and advice for founders navigating fundraising and evaluating investors.

## Outline

1. Introduction and Tyler Morgan's Background
2. BFG Partners Overview and Investment Themes
3. Deal Sourcing and the Power of Warm Introductions
4. Financial Metrics: Gross Margin and Contribution Margin
5. Diligence Process and Founder Modeling
6. Exit Strategies and Changing Market Expectations
7. Advice for Pre-Revenue Founders and Career Transitions

## Topics

- [Fundraising & investors](https://hardwarepodcasts.com/topic/fundraising)
- [Pricing, margins & unit economics](https://hardwarepodcasts.com/topic/pricing-and-unit-economics)
- [Growth, exits & acquisitions](https://hardwarepodcasts.com/topic/growth-exits-and-acquisitions)
- [Validation & product-market fit](https://hardwarepodcasts.com/topic/validation-and-product-market-fit)
- [Hiring & workforce](https://hardwarepodcasts.com/topic/hiring-and-workforce)

## Most relevant to

early-stage companies

## Mentioned

- BFG Partners (company)
- Microbiome Therapeutics (company)
- Chameleon Cold Brew (product)
- Nestle (company)
- Olipop (product)
- Simple Mills (product)
- Metamucil (product)
- Expo West (other)
- NACs (other)

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- [290 - Taylor Foxman is the master connector for CPG's!](https://hardwarepodcasts.com/podcast/people-of-packaging/2024-09-26-290-taylor-foxman-is-the-master-connector-for-cpgs) (People of Packaging)
- [Advice Line with Michelle Wahler of Beyond Yoga](https://hardwarepodcasts.com/podcast/how-i-built-this/2026-09-17-advice-line-with-michelle-wahler-of-beyond-yoga) (How I Built This)
- [Advice Line with Scott Tannen of Boll & Branch and Jamie Siminoff of Ring](https://hardwarepodcasts.com/podcast/how-i-built-this/2025-12-11-advice-line-with-scott-tannen-of-boll-branch-and-jamie-siminoff-of-ring) (How I Built This)
- [Advice Line with Christina Tosi of Milk Bar](https://hardwarepodcasts.com/podcast/how-i-built-this/2026-06-11-advice-line-with-christina-tosi-of-milk-bar) (How I Built This)
- [Advice Line with Tony Xu of Doordash](https://hardwarepodcasts.com/podcast/how-i-built-this/2025-10-02-advice-line-with-tony-xu-of-doordash) (How I Built This)

## Citing this page

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