My “Unconventional” Path into Venture Capital
Repost from April 12, 2023. Medium.
Two years ago I joined Panache Ventures, admittedly unsure of how I would marry my seemingly atypical background with my new role investing in early-stage Canadian tech startups. I still remember one of my first meetings with another Associate at a different fund when I asked how they ended up in VC, and they shared that they had taken an “unconventional path into venture capital”. But what is a conventional path into venture capital, really?
When I was first preparing for my interview with my now colleague, Prashant Matta, I joined the call armed with my meticulously crafted bullet points and rehearsed responses about my last 10 years of life and associated learnings, skills developed, and opportunities for growth. Little did I know, what landed me the job had nothing to do with my polished resume or bulleted list of prior projects.
What it came down to was an anecdotal story I shared about hacking rent in Toronto. The story begins when I was first starting my own company, had $0 income, and my quick google search — “live downtown Toronto rent free”
— shockingly didn’t result in much. After hours of searching for a solution to my *burning pain point*, I happened to stumble upon Trusted HouseSitters where I started housesitting around the city for dogs, cats, orchids (shockingly way more difficult to care for then the former two), and got myself to a place where I spent a year living in different homes for ~1–2 months at a time, successfully achieving my goal to “live downtown Toronto rent free”.
Coming from a science background, I was worried I would have to spend the majority of my interview with Panache specifically defending my limited background in financial modelling. As it turns out, they were more interested in learning about the ways I have been scrappy and resourceful, like the founders they were backing.
Over the last two years, I’ve been consistently encouraged to lean into these strengths, while continuing to build on my other skill sets so I can best support our founders and the broader ecosystem.
When I initially envisioned the archetypal venture capital investor prior to entering the industry, I did not see myself — a woman with a background in science. That said, I now see that the experiences I’ve had; as a woman; as a founder of a childcare marketplace; as a science student; all uniquely help me in various aspects of this multifaceted career. For example, as a woman in venture capital, I am acutely aware of the gender inequity that exists, not only within the VC industry where only 8.6% of VCs identify as women, but also in the founder world where female entrepreneurs receive less than 2% of funding. This knowledge fuels my determination to actively address and overcome these disparities, and I take pride in being part of the effort to create a more inclusive and diverse landscape in both venture capital and entrepreneurship (💡for the women reading this, I highlight specifically relevant resources you can leverage in the below linked notion page).
If I were to give one piece of advice to those pursuing or new to a career in venture capital, it would be to embrace your unconventional path. The last 2 years have taught me about the fast-paced and dynamic nature of the startup ecosystem, the importance of thorough due diligence, the art of negotiating deals, and the value of building meaningful relationships in the industry. That said, above all, I have come to understand that embracing my unique skill set authentically and leveraging both my successes and failures is the key to making a meaningful impact on founders, my team, and the broader ecosystem.
