Henry Ward | Carta - On being an ‘accidental founder,’ scaling a unicorn in a ‘non-hype’ sector, and how to build effective teams and manage mental health
Apr 2, 2025
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Henry Ward, CEO and co-founder of Carta, shares his inspiring journey from a failed startup to leading a thriving unicorn that supports over 40,000 companies. He discusses the challenges of scaling a business in a non-hype sector and the evolution of Carta from simple cap tables to comprehensive financial services. Henry emphasizes the importance of effective team management, the emotional complexities of leadership, and the balance between customer focus and mental health. His insights on resilience and empathy in personal growth make for a thought-provoking listen.
Henry Ward's journey to becoming an accidental founder illustrates the importance of resilience and adaptability in addressing startup challenges.
Ward emphasizes mental health as essential for effective leadership, advocating for therapy to enhance emotional intelligence among founders.
Deep dives
Evolution of Carta
Carta has transformed from a small startup focused on digitizing stock certificates to a company generating approximately $500 million in annual recurring revenue with around 2,000 employees. The initial vision was to replace paper stock certificates with electronic versions, allowing for a more efficient method of handling equity. Over the years, Carta expanded its offerings to include cap table management, fund accounting, and private equity solutions, demonstrating a strong product-market fit. This expansion reflects not only the company's growth but also the continuing evolution of startup financing processes.
Accidental Entrepreneurship
Henry Ward identifies himself as an accidental founder, emphasizing that his journey to creating Carta was not premeditated but rather a series of life events that led him to entrepreneurship. His initial experience with a failed startup did not deter him; instead, it ignited a passion for being a founder, highlighting the importance of resilience and adaptability in the entrepreneurial landscape. He discovered a love for solving practical problems rather than a specific industry problem, allowing him to pivot and address various challenges within the startup ecosystem. This mindset has enabled him to create a diverse range of products under the Carta umbrella.
Balancing Vision with Execution
Ward emphasizes the need for a founder to balance visionary thinking with operational execution, especially as the company scales. Initially focused on customer acquisition, he noted that market demands evolve, necessitating a shift in priorities and product focus. The growth of Carta has led him to adopt a structured approach, where ideas are evaluated based on their potential to generate significant revenue, moving from mere features to fully-fledged business opportunities. This strategic transition underscores the importance of aligning product development with long-term business goals and market fit.
Prioritizing Mental Health and Resilience
Ward advocates for mental health as a crucial component of effective leadership, viewing therapy as essential personal training for the mind. He balances his work responsibilities and personal life fluidly, integrating aspects of both to foster a supportive environment for personal and professional growth. Through his experiences, he highlights the significance of resilience and emotional intelligence in navigating challenges, particularly in the context of entrepreneurship. Ward's commitment to therapy and mental well-being serves as a model for other founders, encouraging them to invest in their mental health to enhance their leadership capabilities.
Meet Henry Ward, CEO & co-founder at Carta, a platform that connects founders, investors, and LPs, helping over 40,000 companies in 160+ countries manage cap tables, valuations, equity, compensation, and more.
In this conversation, we talk about how he ‘fell in love’ with being a founder, how he grew Carta from a simple cap table tool into a one-stop shop for private market companies and funds, and the scaling challenges and lessons he learned along the way.
We also explore his approach to hiring, the challenges of fundraising in 'non-hype' sectors, and how he stays accountable while keeping Carta customer-centric, while taking care of one's mental health along the way.
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