2021 started with a bang from an almost coupe, to a new presidential administration, to me starting as a venture associate. (picture me dancing as I type this).
The coup was balanced out by the transition of power. Lots more to develop here, I am sure of it!
But for now, I would love to focus on my new role as a Venture Associate for Laconia Capital.
The purpose of this post is two-fold: 1) Let my network know that I am actively sourcing B2B SaaS seed-stage companies, and 2) share my process on how I landed this position.
Goal 1: Let folks know I’m actively looking for deal flow.
About Laconia:
Laconia Capital is a venture fund that invests in B2B SaaS companies located in the northeast. They lead seed-stage rounds cutting checks from $500K to $1MM.
What do these things mean you ask?
They invest in companies that have other businesses as end customers and have a subscription-based revenue model that generates reoccurring revenue for the company. They also position themselves to be one of the first institutional investors putting in the largest check size and leading the round for smaller investors.
Basically, I now have access to experienced investors who are actively deploying capital and are supporting their founders to be successful.
My ask to you: Send me deals aligned with the investment thesis I outlined above and reach out to me for support. Here is my calendar if you ever want to share your pitch: https://calendly.com/michelleinvests
Goal 2: Share my experience on how I landed my role
I was being extremely selective on who I wanted to work for and had three criteria:
A small fund where I could get my hands dirty on different projects from sourcing deals, to due diligence to being a part of the fundraising process
A fund that focused on investing in B2B SaaS companies. I wanted to learn from experienced investors.
A fund that valued diversity and equity. I’m too grown to be in spaces that I can’t show up fully plus it impacts my work product.
How I came to this role…
After I had sourced the funds I was interested in I started backtracking. I went on LinkedIn and reached out to people I knew who were connected with the General Partners (GPs) of the funds that I wanted to work for. I then asked for introductions to those GPs and worked other angles as well.
I applied for two funds. The first one was Laconia Capital (which I received and accepted an offer) and the second one was Supernode Ventures (which I interviewed for but ultimately didn’t move forward in the process).
Now let me tell you how much I hustled to get to both of these roles.
I will acknowledge that being at Columbia Business School, an elite MBA program opened A LOT of doors.
THE HUSTLE:
It all started over the summer when I was working for Type One Ventures and helped make an introduction to a partner at Cedana Capital who ended up being connected to a GP at Laconia. The partner then made an introduction to the GPs at Laconia. It was serendipitous that at the same time Laconia had an open internship application which I immediately submitted my resume.
The second role fund, Supernode Ventures has a CBS alum who I was introduced to by another CBS alum who I met at a networking event. I submitted my application for the role which ultimately didn’t lead to a position but landed me an interview.
In between this happening, I was head down researching and writing my investment thesis, constantly speaking to VCs, and working on my blog on top of taking a rigorous full class load.
When I was offered the role, I was one out of 250 people who applied for one position. Yikes, that’s how competitive the industry is!
I WILL BE THE FIRST TO ENCOURAGE YOU AND PUSH YOU TO GO AFTER YOUR DREAMS. From my blog, I hope you can see there are three important ingredients in this: perpetual hustle, insane access, and stubborn dedication.
It’s not impossible but it is hard. NOW all this to say, I am here if you have questions about VC or about working in the space. I want to pay forward the kindness, energy, and time that so many people invested in me so I could be here today.