The VC Architects (Ep. 3): J.P. Keating (ProChain Ventures)

From J.P.'s reflections on inefficiencies in the supply chain to his passion for groundbreaking technologies, discover the secrets that drive the next generation of supply chain innovations. Don't miss out on Keating's insights into the importance of diversity in the industry, his valuable lessons from several CVC firms, and a special segment where he pays tribute to a mentor who shaped his journey. Tune in for an episode filled with wisdom, revelations, and a sprinkle of humor! [00:00:00] JP Keating introduces himself as the managing partner and founder of ProChain Ventures, emphasizing their mission to invest in next-gen supply chain technologies. Vlad Cazacu introduces the podcast, "The VC Architects," and highlights Keating's extensive experience in supply chain and procurement.[00:01:00] The episode's sponsor, Flowlie, is introduced as the top choice for deal screening and network management. Vlad welcomes JP and expresses appreciation for his participation.[00:02:00] JP Keating discusses his wide-ranging experiences across different industries and Fortune 500 companies. He speaks about his constant curiosity and the drive to learn and explore various facets of businesses.[00:03:00] JP reflects on his career, contemplating different roles he could take on a global scale. He shares his passion for innovation and how his journey led him to the world of venture capital, especially during the rise of accelerators.[00:04:00] Keating expresses his frustrations with the inefficiencies, waste, and poor working conditions prevalent in many enterprises. He laments the lack of transparency and data understanding in supply chains.[00:05:00] Keating elaborates on his passion for fixing broken supply chains. He emphasizes the urgency to address both technological and societal challenges within the supply chain industry. The goal is not just to address the physical and financial issues but also to rectify societal problems.[00:06:00] The conversation shifts to the importance of values and intentions in the venture space. Vlad Cazacu compares Keating's journey to that of a founder, highlighting the challenges and decisions faced.[00:07:00] JP reminisces about his time around Boeing Ventures and its evolution. He shares insights into the early stages of corporate ventures and the challenges faced in fostering innovation within large corporations.[00:08:00] Keating discusses his role in leading corporate-startup collaboration, especially during his tenure at utilities. He emphasizes the importance of supplier diversity programs, highlighting the potential for collaboration with small businesses, minority-owned entities, and other specialized groups.[00:09:00] At ConAgra, JP encountered a surge in food innovation and AgTech. He details his efforts to establish a corporate venture initiative to invest in early brands, ingredients, and materials. Additionally, he reflects on the significant contributions of minorities and women in launching new food and beverage brands, advocating for a more inclusive approach.[00:10:00] JP Keating discusses his ambition to create an external innovation program through the supply chain group, with a vision of making it the most innovative entity within the enterprise. He emphasizes collaboration with corporate ventures and development teams to drive innovation.[00:11:00] Sharing his journey, Keating talks about the desire to create something of his own alongside partners who share the same mission. He expresses his appreciation for corporate venture, emphasizing the importance of co-investing and the role of big enterprises as customers for portfolio companies.[00:12:00] The conversation touches upon the momentum Keating experienced in his career, leading him to fully embrace the venture space. He describes the excitement and challenges of the venture journey.[00:13:00] Ke