Former Albertsons Companies Executive VP Andy Scoggin will join Boise venture capital firm StageDotO as a partner.
“I first met Andy two years ago when we first started coming over to Boise,” StageDotO’s Mike Self told BoiseDev. “His skillset is aligned with what we were trying to accomplish – and the timing aligned very well.”
Scoggin left his full-time role at Albertsons in March, but continued in a consultant role. He worked for the grocer for 27 years and worked with Bob Miller and others as the latest version of the company launched as a startup of sorts, growing into the nation’s tenth largest retailer.
“We managed the P&L for a multi-billion dollar company,” Scoggin said. “I was one of the seven who started at day one. Startups all go through that phase we went through, and the good ones come out the other side.”
Bringing career aspects together
He said he hopes to mix together all the different aspects of his career at StageDotO – including time at a law firm, his work at Albertsons and his work with companies through investments he made in recent years.
“I have had the good fortune to work in a lot of settings,” he said. “At Albertsons I’ve been doing this type of work with companies that I found early in their inception. I found that the outside advisor-slash-strategist role is very helpful to a startup that has one or two employees and a CEO who doesn’t have someone in their peer group at that time.”
“He’s been more humble and it hasn’t been reported how he mentored entrepreneurs,” Self said. “I think the combination of (investment) and advice is powerful. If we don’t feel like we have the skillset to help, if we’re just going to bring capital, we don’t invest because it won’t be fair.”
The Idaho mindset
Scoggin didn’t grow up in Boise, but said “they’ll bury me here.”
“I believe so incredibly strongly in this state and the natural wonders of this state and the incredible work ethic that comes from this state,” he said. “It’s a very different mindset that the wide-open spaces seem to bring. With the rural history and the great challenges is it takes to build anything, people learn how to not give in and not give up. People learn to rely on their neighbor.”
StageDotO moved its headquarters from Seattle to Boise in 2018. Self said they’ve invested in four Idaho companies to date: Sindro, FlipRide, Crave Delivery, and PlexTrac. He said all went to a commercial stage in less than 12 months.