Deepwater Brings on Industry Veteran Michael Olson as Venture Partner

Deepwater Asset Management (“Deepwater" or the “Firm”), a leading growth investment firm, today announced the hiring of Michael Olson as venture partner to build the firm’s next fund.

Olson spent the last three years as CFO for Version1, a multi-property esports and gaming content organization majority owned by Wilf Innovative Sports & Entertainment. In this role, Olson helped lead the strategic direction of the organization and oversaw all financial reporting, accounting, treasury, budgeting, KPI analysis & optimization, external comparative company/industry analysis, FP&A, and payroll. Olson also serves as CFO of PowerUp Acquisition Corp., a NASDAQ-listed special purpose acquisition company, where he led all financial aspects of PowerUp’s early 2022 IPO and continues to lead the company’s finance, accounting, and audit functions.

An award-winning analyst, Olson spent the first 19 years of his career in tech-focused equity research with Piper Sandler. He ranked in the top 1% of more than 4,000 equity analysts in 2013 (No. 8), 2017 (No. 11), and 2019 (No. 24), according to TipRanks. Covering the e-commerce, internet, software, and video game verticals, Olson earned the 2015 Thomson Reuters/StarMine No. 2 Earnings Estimator award, the 2011 Financial Times/StarMine No. 2 Stock Picker award and No. 2 Earnings Estimator award, and the 2010 Wall Street Journal “Best on the Street” award for the Leisure Goods & Services sector.

“The last few years saw an era of euphoria in venture capital, but the best investment opportunities come when fear is commonplace, not greed,” Olson said. “I think we’re entering one of the best periods to deploy capital into startups of the past several decades. Now is the time for Deepwater to be more aggressive in venture.”

Deepwater’s new venture fund is expected to launch in the second quarter of 2023. Olson will bring together a unique network of technologists, proprietary research, and deep insights to identify new investment opportunities. Additionally, Olson will work in tandem with the management teams of Deepwater’s portfolio companies as they scale their businesses.

“Deepwater’s roots were sprouted in technology, which dovetails perfectly with Mike’s well-established talent and expertise,” Deepwater co-founder and managing partner Gene Munster said. “We’re excited to expand the range of funds we offer our investment partners to take advantage of the opportunities we’re seeing in the private markets. Mike‘s unique combination of tech analysis and operational experience makes him a great fit to help build our next chapter in venture.”

About Deepwater Asset Management

Headquartered in Minneapolis, Minnesota, Deepwater Asset Management offers a range of equity investment funds across the growth spectrum in public and private markets. The Deepwater team has over 100 years of combined experience investing in growth companies, led by Gene Munster, Joe Robillard, Doug Clinton, and Andrew Murphy. Visit deepwatermgmt.com for more information.

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