The Venture Mindset: How to Invest in What’s Next | Winter Mead

What does it take to invest in businesses that may take years to mature—and where most of the bets won’t work? On this episode of At Depth, Ben Rodgers sits down with Winter Mead, founder and CEO of Cool Water Capital, to unpack the mindset behind venture investing. Winter shares how growing up on a farm shaped the way he thinks about risk, patience, preparation, and long-term outcomes—and why those lessons translate surprisingly well to venture capital. They explore the power-law nature of venture, the balance between enormous vision and disciplined execution, and the difference between luck and skill when investing in uncertain outcomes. Winter also breaks down his framework for evaluating managers and companies, why networks matter, and how Cool Water approaches investing in both venture managers and the companies they back. At its core, this is a conversation about seeing what something could become—and then having the discipline to work backward from that vision. #AtDepth #VentureCapital #Investing #WinterMead #CoolWaterCapital