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- No GPs Allowed ⚡ #4
I’ll be in SF next week :) LMK if you’re around.
VC News
Will Tiktok get banned or will it sell?click your choice below! |
Senate passes bill forcing TikTok’s parent company to sell or face ban, sends to Biden for signature
Kim Kardashian's private equity firm hits fundraising hurdles: SKKY only secured $121 million in capital commitments through late March, according to federal securities filings.
The Carlyle Group is selling DTC clean beauty brand Beautycounter back to its founder Gregg Renfrew: the news of the DTC brand’s sale comes soon after Ulta Beauty’s CEO warned analysts of a beauty category slowdown across price points and segments.
TikTok-beloved Skin Care Brand Experiment Closes $3.3 Million Seed Round with Greycroft
a16z promotes Jennifer Li to help lead the new $1.25B Infrastructure fund
Khosla Ventures & Founders Fund are leading a new round in Ramp, valuing the fintech at $7.65 billion (up 36% from last summer's down round).
Primary Venture Partners launches its DEI-focused Factor Fellowship
Coatue is joining Rippling's board as an observer as part of its bid to lead a new round that values the company at $13.5 billion.
New York Tops Destinations for Relocating Tech Workers: The Big Apple attracted the greatest share of tech workers who were on the move last year, a report by venture firm SignalFire finds
Investors are using SPVs to buy stakes in Open AI, Natasha at The Information shares more
Sky-high AI engineer salaries are complicating startups’ equity playbook
Campus, a community college startup, receives $23M Series A extension led by Founders Fund
The Economist’s reasons to be cheerful about Generation Z: they are not doomed to be poor and anxious
VC Theses
who: Meagan Loyst
why: Meagan writes from the POV of a VC/investor in her Times column all about Gen Z. This POV is desperately needed as VCs attempt to navigate the creator economy landscape once again.
why: incredible investor, 13-time Forbes Midas Lister, need I say more?
who: Emily Herrera
why: em has been in VC for a few years and has thought deeply about the future of consumer & creator investing. this website breaks down all of her thoughts and is so intentionally organized. highly recommend clicking throughout.
Investor Feature: Zehra Naqvi
yes this is me! figured I’d introduce myself :)
How and why did you want to become a VC? I became a VC earlier this year after being a founder and startup operator for a majority of my career. Across all the startups I worked at (whether pre-seed B2B FinTech or Series A cat-food companies), founders were always worried about their next fundraise with VCs. After realizing how anxiety-inducing the VC fundraising process was for founders, I set out to learn more about who the decision makers were and how they came to their conclusions. In an effort to meet more founders and VCs, I began hosting community events in NYC, angel investing, and generally trying to be a value-add to VCs + founders alike via curated introductions. Led me to my great gig now at Headline Ventures.
What’s your investment philosophy in 5 words? flat-lining retention exponential growth (jk - I wouldn't rely solely on that formula although that is the combo most consumer social VCs swear by and prob the consumer version of the Rule of 40) teenagers discern consumer-social winners
Strangest place you’ve met a founder? I have two: 1.) in the Sahara Desert on the border of Morocco and Algeria on top of a sand dune 2.) at a cricket game in Lahore, Pakistan.
#1 tip for folks trying to break into VC & new VCs? Consume as much VC-content as you can (online & IRL) in an effort to educate yourself enough to have your own investment thesis/personal investment philosophy. Developing your own perspective is pivotal in this industry. Especially because it makes it easier for people to think of you when it comes to relevant events, deal flow, and more. I’ve seen it first hand after sharing just 1 post about my POV on consumer social. Following this post, I received 150+ emails from consumer social founders.
Investor you admire most? Can’t choose one — I adore/admire all of the following: Terri Burns, Jess Lee, Alexia Bonatsos, Mar Hershenson, Kirsten Green, Sophia Amoruso, Sonali De Rycker, Dana Settle, Amber Atherton, Maya Bakhai, & so many more I just don’t want this email to get clipped.
Break into VC: Jobs
Full-time Investor
01A Advisors is hiring an investor. Apply here!
Venture Guides is hiring an investment associate. Apply here!
Capital Factory is hiring an associate. Apply here (Dallas) and here (Austin).
Flourish Ventures is hiring an investment associate. Apply here!
Heartland Ventures is hiring an Investor. Apply here!
Alumni Ventures is hiring a Principal. Apply here!
Full-time Platform
Draper University is hiring for multiple platform roles. Apply below!
Cowboy Ventures is hiring a Chief of Staff. Apply here!
Techstars is hiring a Program Associate. Apply here!
Vitalize VC is a *part-time Community Manager. Apply here!
Internship
Kapor Capital is hiring a summer associate. Apply here!
Bankless Ventures is hiring an intern to start April-July. Apply here!
Expanding Capital is hiring an intern. Apply here!
VC $$$
You can drop your salary details here (anonymously) to be shared in future editions. VC compensation is an exceptionally opaque part of the “breaking into VC” process.
Title: Associate
Fund Size: 500M-1B
Base Salary: $175,000
Cash Bonus: $35,000
Carry: 0 (none)
Events (for VCs)
No GPs Allowed SF edition hosted by: Zehra & Kenan
AAPI Heritage Month Founder & Investor Breakfast hosted by: Zehra
