Despite the consensus about the role, which both substantive and dynamic capabilities play to explain firm performance in different environments, much less research has been undertaken on how these capabilities are formed (Zahra et al., 2006). Recent work indicates that capabilities result from different ways of bundling resources and argue that managers play an overwhelming role in this bundling process if the other resources in the portfolio are constraint (Sirmon et al., 2007). This is the case in new ventures, which typically exhibit low levels of resource quality and quantity. We extend this capability view by analyzing how the experience and the different personality styles of founders impact the speed at which substantive and dynamic capabilities are developed in the ventures they create.