Esther 🌱 Ayorinde (ENFP)

🌟Innovative VC Firm Overcomes Exits Drought with Secondary Sales🌟 ⛵Navigating a challenging landscape where exits are scarce, Santa Barbara Venture Partners (SBVP) has pioneered a novel approach to sustain its growth and attract investors for its second fund: secondary sales. Instead of waiting for traditional exits like IPOs or acquisitions, SBVP opted to sell shares of its portfolio companies, demonstrating its ability to generate returns for investors and stand out in a competitive market. 🎤According to Dan Engel, founder and managing partner of SBVP, these secondary transactions have been a game-changer, sparking investor interest and bolstering the firm's credibility. By leveraging its recent successes, including a lucrative stake in sports-betting company DraftKings Inc.' acquisition of digital lottery app Jackpocket, SBVP seized the opportunity to return profits to its limited partners (LPs) and pave the way for its second fund. 💡Engel highlighted the challenges faced by young VC firms in raising subsequent funds, particularly amid a downturn in exit activity and heightened investor scrutiny. With traditional exit routes becoming increasingly elusive, the pressure is on for firms to demonstrate tangible returns and establish a track record of success. ✨"For us, secondary sales have been a game-changer. They've helped us return profits to our LPs and attract investors for our second fund," said Dan Engel. 💰For SBVP, the decision to pursue secondary sales was driven by the need to provide liquidity to LPs and validate its investment thesis in the eyes of prospective investors. By strategically offloading portions of its holdings in high-performing portfolio companies like Bark Technologies and Rad AI, SBVP not only generated substantial returns but also bolstered investor confidence in its ability to deliver results. ⚠Despite the complexities and potential stigma associated with early share sales, Engel emphasized the importance of prioritizing investor returns and seizing opportunities to unlock value for stakeholders. With a focus on profitability and transparency, SBVP remains committed to its mission of delivering sustainable growth and maximizing returns for its LPs. 🔍 "Returning profits to our investors is our top priority. By strategically selling shares, we're proving our commitment to delivering results and driving value for our stakeholders," added Engel. As SBVP continues to explore secondary transactions and expand its investor base, the firm stands as a testament to innovation and resilience in the face of market challenges. 🚀 ✅ Looking to raise capital for your #fund and increase the international pool of your LP #investors?   🤝 Need warm #LP introductions?   📝 Selling #secondaries to increase liquidity?   🧐 Looking for co-investments?   ▶ G+QUANT's link for inquiries and fund decks: https://lnkd.in/gjC_EuTE #VCInnovation #SecondarySalesSuccess #InvestorReturns #ValueCreation 

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Are we helping or hurting? That is a question many residents of San Francisco ask ourselves in the midst of a stark and increasing equity gap. As a parent, community member, and incoming board member of the Horizons at San Francisco Friends School, I’m keenly aware of the potential learning loss our public school students in the Mission District experience in the summer months without our support. Our city is undergoing another crisis - looming budget cuts threaten vital programs like Horizons at SFFS that provide equitable learning for Mission youth. We urgently need your support to secure bridge funding and ensure our summer enrichment continues. Our scholars and families are relying on Horizons' high-quality academics and social-emotional growth.  Horizons has been successfully leveraging the months when students are out of school to stem summer learning loss for children in San Francisco for ~10 years. The program has also intentionally increased impact by supporting their scholars through their educational journey during the school year and into High School. Last year, Horizons impacted 150+ scholars with targeted small classroom instruction, confidence-building, and joyful community enrichment experiences- thanks to our dedicated summer education workforce. But we can't continue without you. Please join me in supporting Horizons at SFFS today to expand partnerships, engage more crisis-impacted families, and grow our supportive community stronger. In past years, the SF Department of Children, Youth and Families has been a partner to increase access to education for our students. This summer, as we face a potential 40% loss to our summer program due to DCYF funding cuts that have impacted so many vital programs in our city, we’ve decided to celebrate Horizons Giving Day, the whole month of May. Please join me in our movement - your gift saves the summer for San Francisco scholars and helps bridge the educational equity gap in our city. Let’s help together. In gratitude, friendship and community, Aneesha #GiveTheGiftofSummer #SparkPassions #HorizonsGivingDay https://lnkd.in/gJAYnibC Links for reference: Horizons at SFFS: https://lnkd.in/gfsdugDX Impact Report: https://lnkd.in/gZc2jn85 Press Release on DCYF Loss of Funding: https://lnkd.in/gNprpSyB

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Today marks a groundbreaking moment for BLCK VC and our fellow collaborators—Diversity VC, All Raise, 2Gether-International, SomosVC, StartOut, and VetsinTech—as we proudly announce the launch of the Diversity Data Alliance. This important alliance underscores our unwavering commitment to nurturing a venture capital and entrepreneurial ecosystem abundant in equity and inclusiveness. By standardizing and linking our data, we empower ourselves with the essential tools to track deeper trends that have, until now, eluded us to identify and fill funding gaps for historically excluded investors, founders, and operators. We can’t change what we do not measure, and now with the Diversity Data Alliance, we're now equipped to do both. Join us in this mission. Learn more and get involved: https://lnkd.in/eEZKdrac #DiversityDataAlliance #BLCKVC #VentureCapital #MeasureToChange

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👉 Attention Pacific-Northwest founders ✅ Are you building in B2B SaaS/AI? ✅ Have you raised less than $250K? ✅ Had one-too-many VCs tell you you’re too early? I’d love to chat. The Pacific Northwest is home to two of the magnificent seven, the birthplace of some awesome companies (Slack, Outreach, Remitly, Redfin, Auth0 to name a few) and a magnet for great AI/technical talent. Forum Ventures, will be doubling down in this awesome ecosystem and writing more checks into B2B SaaS/AI founders for $100K+ admission to our pre-seed accelerator. Our pre-seed program is highly personalized - not your generic startup school. Here’s what you can expect: 🤝 Hands on GTM and Sales support to get you to $200k+ ARR 🌎 A community of B2B founders who have raised $1B+ in follow-on funding 🚀 An awesome Managing Director who will work alongside your team as a fractional senior operator / co-founder. They’re all former founders and have lived 0-1. 💸 No-bs investors who will help quarter back your seed round and show up through the good and the bad. 👋🏻 PNW founder? Pitch us here: https://hubs.ly/Q02tdP_r0 🙏 Not a founder? Please share with your network or tag a founder below ⬇️ cc Simon Chou Dominic Lau Richard Kerby Casey Van Maanen Ryan Holmes Adarsh Pallian Paul Irving Scott Barker Sara Lindquist John Eng Sarah Studer Jacob Laes Marius Ciocirlan Chris DeVore Brendan Wales Sheila Gulati Jen Haller Kirby Winfield Andy Liu Matt Wang Sanford W Spivey Amy Sallin Erik Benson Annie Luchsinger Lauren Glatter Bryan Hale Brian Glaister Kristopher Alford Jeffrey Manner Julian (Jay) Rhind Connor Edwards Daniel Baraghoush Kaylee Lieffers (Astle)

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Exciting news for startups! California accounts for about 50% of all venture investments. The not-so-secret reason is that non-competes are illegal in California, so engineers at FAANGs can build competitors without fear. Today, the US Federal Trade Commission declared non-compete agreements illegal nationwide. This means that engineers at big tech companies can now leave and build their own companies without fear of violating a non-competes (legacy agreements for executives are still enforceable - talk to your lawyer), this is a step in the right direction for fostering innovation and competition across the country. A variety of big-business groups have vowed to sue to bring non-competes back, but at least for now, they're gone! #startups #innovation #competition #noncompete Official Announcement: https://lnkd.in/gRXUpgDy Impending lawsuit: https://lnkd.in/gqSiVuTd

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I am honored to host Nolan Bushnell for a fireside chat at TechCon SoCal 2024 in San Diego on May 24th. We'll discuss how his innovations at Atari laid the groundwork for today's tech landscape and what lessons we can draw for the future. 🌟 Why Nolan Bushnell is a Must-Hear for Every Tech Enthusiast🌟 🕹️ Pioneering the Video Game Industry: Bushnell's creation of Atari and the iconic game Pong marked the beginning of the video game era, democratizing technology through entertainment. By democratizing technology through entertainment, Bushnell made electronics and computing accessible, inspiring a generation and catalyzing the tech ecosystem. 👔 Redefining Startup Culture: Bushnell invented a new breed of Silicon Valley entrepreneurs: visionary, bold, and nonconformist. His management style and the work environment he fostered at Atari—including laid-back elements like beer and ping pong—helped set a template for Silicon Valley's informal and innovative corporate culture, influencing giants like Google and Facebook. 🌱 Innovating Venture Capital: Bushnell became a crucial pivot in VC history by becoming the first example of how new business models over technology advancement become VC "fundable". Sequoia Capital's first seed investment concept in Atari demonstrated the profitability of supporting early-stage consumer tech businesses. It broadened VC horizons to include software and entertainment, impacting how venture capital operates today. 🚀 Driving Silicon Valley's Evolution: The Foundation of Silicon Valley was Arthur Rock funding Fairchild Semiconductor & Intel, establishing the semiconductor industry, and putting the silicon in Silicon Valley. The expansion phase was Don Valentine's investment in Atari, expanding the focus from hardware to software and entertainment, creating the video game industry, and expanding Silicon Valley's tech ecosystem. Bushnell's role enabled the Transformation Phase of Silicon with the 1980 IPOs of Apple and Genentech, showcasing SV's innovation breadth across multiple sectors. 🔗 Enabling Icons: Bushnell provided Steve Jobs, who did not have a college degree, with his first job inspiration for the idea of bringing computers to home users, invaluable introductions and opportunities, and influenced the birth of Apple. 🎮 Inspiring Future Innovators: By integrating fun into computer use, Bushnell likely accelerated technological innovation by making computing appealing to those who might not have otherwise engaged with it. His work at Atari made the daunting world of computers relatable and exciting, inspiring many future founders and technologists. Nolan's influence is evident in the increased computer literacy and the surge in tech-driven career interests among the youth of his time. Connect with over 80 early-stage investors and hundreds of founders from San Diego, the Bay Area, Austin, Denver, and New York. Explore more about the event at https://lnkd.in/gTYMN65n

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Help support a young entrepreneur 👏

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🚨 AI-Powered 911 Assistants Will Revolutionize Government Services and Save Lives. They are the future of emergency response for civil services for the following reasons: - Faster Response Times: AI can quickly analyze and prioritize calls, ensuring the most critical situations get immediate attention. - Accurate Data: AI can gather and process data swiftly, providing emergency responders with precise information, reducing human error. - Enhanced Efficiency: By handling routine inquiries, AI frees up human operators to focus on more complex and urgent issues. - Cost Savings: Automated systems can reduce operational costs, allowing governments to allocate resources more effectively. - Scalability: AI systems can handle high volumes of calls, especially during crises, ensuring no call goes unanswered. - Training and Support: AI can assist in training new operators, offering real-time guidance and support. Embracing AI in 911 services is not just a technological upgrade—it's a life-saving innovation. Let's drive government services forward with AI! 🚀 Benjamin Sanders Damian McCabe #AIAssistants #EmergencyResponse #GovTech #Innovation #PublicSafety

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I have disappointment. Firstly, this is not a defense (or lack) of Techstars' leadership, or the direction it's taking, or some of the accounts in this article. Many of you know I've been involved on the edges of Techstars for 10+ years in various program-based activities. I'm not here to comment on the specifics (I know very little). What I do want to comment on is something very salient in this article, and in accounts of too many women CEOs. In EVERY case where current leadership was reported on by name, they were ALL women. The current Techstars leadership team is not made up of all women, FYI. And in EVERY case, that woman was highlighted as being not competent for her role at the time when she started. In ALL BUT ONE case where the insider (employee or former employee) was either named or was referenced using gender pronouns, they were all men (disclaimer below). Let me rephrase: Every leader being negatively reported on here by interviewees is a woman, all were openly questioned by almost an entirely male employee base being interviewed as not being fit for their job from the get go. Right out of the gate. And here we are, with an internal account that then piles on failed partnerships and employee turnover without attribution to cause, leaving readers, if we aren't careful, to attribute that to the leadership in question. Disclaimer: Some of the specific accounts in here aren't what I'd call savory (e.g. the individual account from the former executive assistant of the SVP was the only identifiable woman in the interview set. Her claims shouldn't be ignored and are valid), and again, I'm not here to defend (or not) the specifics. But it's CRUCIAL to understand these dynamics when we read stories like this, especially about competency. And also? This entire story failed to highlight the pretty darn basic process happening here, a process that every actor, journalist, and reader in this space understands extremely clearly: You have a system that has been built over the two decades that's just plain no longer a startup. It needs to take a new form, often needs new leadership, and new leaders come in with a shake up. People who've been in the system will be uncomfortable, pissed off, in disagreement. They might even leave or get fired. They're probably going to lose some of the power they so enjoyed. THIS IS NORMAL. The reporting even suggests that the CEO's appointment came at a time of tumult, that it needed "rescuing" (a time when so many women CEOs are asked to come in - clean up!). It also suggests that power was changing, "fiefdoms" may not look the same. But how flipping normal is this, how less dramatic so much of this story actually is this? No, we have a picture of the incompetency of a group of women execs who messed everything up. We need to do better. It's 2024. https://lnkd.in/gmHhGGM7

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118 VCs (one hundred eighteen!) are gathering in San Diego next week - to meet with 30 SD startups. But it's so MUCH bigger than just those 30 co's. It brings VCs back - when they see quality companies. It helps those who are next-in-line and adjacent. It enables us to send deal flow all year 'round. It attracts talent and other companies. It inspires entrepreneurship. Connect is working for SD. Together, we're building the best damn innovation ecosystem on the planet. Year over year. Five.Ten.Thirty.

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An interesting article below, that demonstrates out how San Diego is punching above its weight.  And how Connect's strategy and execution over time, contintues to be central to that success. The article describes the current state of the market in Seattle.  (And i love Seattle.) It's a market that we tend to track with relative to venture fundings.  They used to kick our butts, we outraised them each of the last three years.  This despite the fact they have 3x as many funds there, and 9x the amount of resident capital there. (per pitchbook) Some key takeaways:  * They continue to compare themselves to SIlicon Valley. Instead, we leverage our proximity. *They whine there's not enough local investors (see note above - they have more than us). We bring over 200 VCs to SD annually! * They say founders are not connected with one another. We bring CEOs together regularly, in a variety of ways - private dinners and through our Springboard program. * They say they need to elevate their image on a national & international stage. Why we created and continue to build Five.Ten.Thirty (aka Inno Day).  * And the last paragraph - they need to concentrate on making their region a great place to live. Our mantra: "It's about Better, not Bigger." (See XEO, TL Fund). THANK YOU FOR ALL OF YOUR SUPPORT. WE ARE ON A MISSION TOGETHER!!!  (Comments, whining, suggestions on SD always welcome.) https://lnkd.in/g6Rq_f2Y

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Two weeks ago I spent 3 days with brilliant human beings discussing the state of AI investment with other angel syndicate leads, angel investors and VCs at Hustle Fund's #camphustle in Los Gatos. It was brilliant. Truly awesome to learn so much from insanely accomplished investors. But was so clear to me again is that the US and the UK are two countries divided by separate languages of ambition. Aspiration and ambition underlined by the cluster effect of successful exits, incredible talent and venture capital driven by operators and founders rather than accountants. But one reason why the US often trumps (pun not intended) the UK is they learn from failure. Run a startup that didn't reach the dizzying heights of venture-scale returns? Learn, reset and go again. What they certainly do not do is look at failure with glee and an "I told you so" attitude. Which is what I sense when I read most of the narrative around the failure of Cazoo. Alex Chesterman swung and missed. The business was flawed, unit economics didn't add up and in reality - there was very little innovation outside the vertical alignment of a well-understood business. But when we look down upon what he tried to do and 💩 💩 it all we're doing is making it harder for someone else to be equally as ambitious. Focus on what went wrong. Focus on the fundamental underlying business models that drive efficient use of capital and the push for profitability. But let's celebrate people shooting their shot and not celebrate the failures.

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If there's one thing I want to share today, it's that SF freaking delivers. I went to a San Francisco Giants game yesterday and spent the rest of the afternoon on a sunny rooftop overlooking the ocean with Martin Spridzans discussing opportunities in ed tech, health tech, and human resources. To some, these may seem like random or boring industries. I am excited. Why? It's the things that don't change that you want to build businesses around. I mean, ask Jeff Bezos. He built Amazon - a pretty successful company - on this perspective. People will always want and need it. That's not going to change. Even if we move into the metaverse or put chips in our brains to connect to AI. It's the things that won't change that you want to build businesses around. People want to learn. To improve. To grow. To be better than others. Modern society is built to grow, even required to grow. Education is fundamental. People need to be healthy. It's the most basic human need. Something we all have to prioritize and optimize. Otherwise, we will pay the price. Sooner or later. We also discussed "one more thing" (🫢) that I see emerging from the many conversations I've had over the last few days. A problem most know. Often faced. But not really solved. Happy to share. But another day 😏 Love, F 🫶 #edtech #healthtech #recruitment #sanfrancisco #entrepreneur

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Last night's Technology Association of Oregon panel discussion on raising capital for AI ventures was full of interesting takeaways. The event brought together leading PNW VCs, CEOs, and funders to share their perspectives and best practices. Here's what you need to know: ➡ The AI/ML space is rapidly evolving, presenting huge opportunities for startups tackling real business problems. VCs are actively seeking out the most ambitious and disruptive companies in this domain. ➡ Having an "unfair advantage" is key - whether that's proprietary data sets, unique domain expertise, or unparalleled access to customers. AI ventures need strong differentiation to stand out. ➡ Build relationships early with VCs, even before you're ready to raise. Their insights and connections can accelerate your journey. The PNW venture ecosystem is highly collaborative and accessible. ➡ Don't be deterred by the perceived lack of local funding. Great companies with compelling visions will get funded, period. Leverage the PNW's strengths in developer/engineering talent. ➡ Recognize and proactively address the potential downsides of AI - from data privacy to model bias. Building responsibly is both an obligation and an opportunity. ➡ Move fast, be bold. Raising capital is always hard, but fortune favors the brave in this space. With the right team, tech and traction, you can build a world-changing business here in the PNW. Thanks to the fantastic panelists Diane Fraiman (Voyager Capital), Geoff Harris (Flying Fish), Jon Maroney (OVF), Chris Sestito (Hidden Layer), Jon Turow (Madrona) for sharing their insights, and to Kristy Edwards for moderating!

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Ever wondered where the perfect balance between tranquility and innovation lies? For me, it’s Seattle. Unlike the Bay, Seattle has a more serene environment that’s perfect for focusing on building products and businesses. The city’s vibe encourages deep work and creative thinking, free from the overwhelming hustle. But let’s be honest, Seattle’s founder and investor communities aren’t as vibrant as those in SF. Yet, this city holds a special place in my heart – a blend of my love for startups and the charm of Seattle. I believe in Seattle’s potential and I’m on a mission to help ignite its startup community. From connecting with fellow founders to engaging investors, let’s come together to build something extraordinary here. Seattle has all the ingredients to be a startup hub – talent, innovation, and a supportive ecosystem. What it needs is a spark. Let’s be that spark.

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💪💡Wisdom is learning from past mistakes from others but also oneself. Retrospection with action is powerful. An insightful weekend read from the WSJ… Christopher Mims shares his list, from 10 years of covering consumer tech for the The Wall Street Journal: ( link here: https://lnkd.in/eKj2wX_t ) 1. Disruption is overrated. 2. Human factors are everything in tech adoption. 3. People lie to themselves… and to you. 4. Tech bubbles are productive, even if wasteful. 5. We’ve got more power to shape how tech impacts us. Some of my list, from 25 years of early stage consumer internet investing and operating: 1. Tech disruption is overestimated in the short run, underestimated in the long run. (Amara’s Law) 2. Social proof is powerful in tech adoption. 3. Hope kills. Execution is everything. 4. Run towards tech bubbles. 5. Tech optimism empowers positive change.

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Employee terminations: they're a topic no one wants to discuss but that every company has to navigate. Thankfully, Melanie Naranjo and wonderful Ethena advisor (& Gusto's former People Leader) Jess Yuen are tackling this tricky topic for the next Ethena webinar. Register if you want to learn more about these topics: How to pressure test whether or not termination is the right course of action Best practices for communicating termination decisions How to minimize risk and choose the best course of action when things get tricky Critical pitfalls to avoid

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