Billion Dollar Moves™ with Sarah Chen-Spellings | Global Venture Capital

“We believe an inclusive and optimal asset management industry will be the cornerstone of an equal and equitable future.” - Illumen CapitalWhile organizations explore ways to embody diversity, equity, and inclusion (DEI), authenticity and clear, measurable outcomes are essential for effectiveness. This week, we're joined by Joanna Kuang, Senior Vice President of Product Development and Impact at Illumen Capital. We delve into the significance of impact investing and strategies to ensure tangible efforts are made to drive meaningful change in venture, in our society.TIMESTAMPS / KEY TAKEAWAYS0:00 - Intro02:18 - Joanna’s backstory as the daughter of immigrants; living experience in Mississippi Delta that drove her to join Illumen Capital04:02 - Genesis of Illumen Capital as a fund of funds05:42 - Study alongside Stanford SPARQ: Race influences professional investors’ financial judgments (2019)09:16 - Diversity efforts in venture today; DEI policies13:10 - Quantitative data to drive accountability; best practices to remove biases in pitching and diligence processes18:06 - Illumen Capital’s stand under the backdrop of many anti-DEI laws21:19 - Diversity drives performance: investment strategies and performance measurements24:41 - Established and emerging managers as the next key strategy for Illumen Capital28:18 - Portfolio construction as a fund of funds and ticket sizes30:42 - The winning factors versus common mistakes in diverse fund managers; impact washing32:47 - Looking ahead 2024 private market; advice for fund managers35:38 - Billion Dollar Questions-About Illumen CapitalIllumen Capital is an impact fund of funds addressing systemic inequity by reducing racial and gender bias in investing.Working closely with the world’s leading social psychologists at Stanford SPARQ, they combine investment capital with evidence-based tools and training designed to reduce implicit racial and gender bias in order to unlock latent return and multiply impact.More about Illumen Capital: https://www.illumencapital.com-PODCAST INFO:Podcast website: https://billiondollarmoves.comWatch on Youtube: https://tinyurl.com/sarahchenglobalJoin the community: https://sarah-chen.ck.page/billiondollarmovesFOLLOW SARAH:LinkedIn: https://linkedin.com/in/sarahchenglobalInstagram: https://instagram.com/sarahchenglobalTwitter: https://twitter.com/sarahchenglobal

Berkshire Hathaway and the famed investor Warren Buffett himself are often the topic of discussion when it comes to achieving success in the world of venture. Nevertheless, despite the almost unassuming marketing strategies compared to today’s eye-catching everything, Berkshire Hathaway illustrated incomparable strategic marketing that yielded loyalty and reputation.This inspired today's Billion Dollar Bite, where we delve into the topic of strategic marketing and how us in the venture world can learn a thing or two.Ross Simmonds is the founder of today's leading content marketing firm, Foundation. Ross leads the team at Foundation, specializing in helping B2B and SaaS brands build content marketing engines that generate millions of visits a year, resulting in millions worth of new business.We covered a range of topics from A.I. and marketing reskilling your workforce to breaking down some amazing case studies from billion-dollar businesses like MasterClass and Berkshire Hathaway. TIMESTAMPS / KEY TAKEAWAYS0:00 - Intro2:47 - AI for marketer; takes on AI replacing marketer’s job6:24 - Biggest lessons from MasterClass: building around Google search intent10:33 - MasterClass’ marketing strategy12:18 - Glassdoor’s content creation and SEO strategies13:33 - Leveraging AI, the best approach to expand globally as B2B business16:36 - Mr.Beast; Berkshire Hathaway; should all businesses be creators?19:11 - Leaders as the voices on platform like LinkedIn21:32 - Content creation in leadership position is a waste of time?23:30 - How do we engage with public reaction on social media?24:42 - Takes on nonpolitical versus political leader; common mistakes made by companies on social initiatives28:00 - Billion dollar questions-About Ross SimmondsA marketer, keynote speaker, SaaS & B2B tech investor, writer and the CEO of Foundation. Ross is multitalented and devoted his work to help, inspire and teach the underdogs of the world how to use research, creation, distribution and optimization to unlock new levels of growth and opportunities.Ross’ content marketing agency, Foundation, offers content marketing services to a diverse clientele spanning the globe. We’ve worked some of the most successful SaaS companies in the world and work as partners for multiple publicly traded cloud companies who have redefined entire industries. More about Ross and Foundation: https://rosssimmonds.com/-PODCAST INFO:Podcast website: https://billiondollarmoves.comWatch on Youtube: https://tinyurl.com/sarahchenglobalJoin the community: https://sarah-chen.ck.page/billiondollarmovesFOLLOW SARAH:LinkedIn: https://linkedin.com/in/sarahchenglobalInstagram: https://instagram.com/sarahchenglobalTwitter: https://twitter.com/sarahchenglobal

In venture capital, pattern recognition is a valuable skill. Investors often analyze various pieces of a puzzle, employing pattern recognition to assess whether a company might be on the path to success.This week’s Billion Dollar Bite features Leah Barto, Senior Director of Research at Endeavor Global, who leads a team to redefine pattern recognition through the lens of data journalism.Endeavor has dedicated its mission to uncover unicorns worldwide, employing a data-driven approach and producing a comprehensive study titled “Where Do Unicorns Come From?”We’ve discussed the intriguing findings of this robust research, unveiling the factors that drive entrepreneurial ecosystems to thrive, and challenging stereotypes about what success should look like. You won't want to miss this!Timestamps/ Key Takeaways0:00 - Intro2:15 - Endeavor’s mission, data journalism, “Where Do Unicorns Come From?” & the multiplier effect in startup ecosystems5:37 - Takeaway #1: Educational backgrounds & debunking the myth of the elite educational pedigree.6:29 - Takeaway #2: Entrepreneurial experience & age 7:58 - Takeaway #3: Global citizens - mostly with a migration background & advice for funders9:35 - Takeaway #4: Pattern recognition - backgrounds and innovation made by unicorn founders from US versus emerging markets11:30 - Takeaway #5: Solution to underrepresentation of female founders14:33 - Takeaway #6: Hande Cilingir’s success story16:32 - Takeaway #7: Scaling & paying it forward About Endeavor InsightEndeavor Insight is the research division of Endeavor that provides data-driven analysis and visualizations showing what makes entrepreneurial ecosystems thrive. Our research team of economists, data scientists, and policy analysts specialize in understanding the needs of high-impact entrepreneurs and evaluating the networks that enable them to scale and pay it forward.Where Do Unicorns Come From?Link: https://endeavor.org/unicornpathways-PODCAST INFO:Podcast website: https://billiondollarmoves.comWatch on Youtube: https://tinyurl.com/sarahchenglobalJoin the community: https://sarah-chen.ck.page/billiondollarmovesFOLLOW SARAH:LinkedIn: https://linkedin.com/in/sarahchenglobalInstagram: https://instagram.com/sarahchenglobalTwitter: https://twitter.com/sarahchenglobal

In this discussion, Samir Kaji, the CEO and co-founder of Allocate, shares his insights from over 20 years in venture capital. He dives into the shifting landscape of private wealth funding as traditional investments wane and explores the emerging trends among venture managers. Kaji highlights the critical 'track record trap' to avoid, while stressing the importance of transparency and diversity in investments. His predictions for 2024 hint at resilience amidst challenges, urging investors to focus on fundamentals and adapt to market changes.

This week we had not one but two esteemed guests - a funder and his founder of choice to talk through everything from building trust and partnership to getting to that IPO.Featuring Somak Chattopadhyay, founder of Armory Square Ventures, and Vikas Mehta, COO of ACV Auctions. Their paths beautifully overlapped after their MIT days when Somak recognized ACV's potential in B2B automobile marketplaces and recruited Vikas to lead the operation.The rest is history, but in today’s episode, we delve deep into how Somak identifies potential in companies like ACV and, alongside Vikas, continues to drive value and scale to today, one of the most exciting marketplaces that investors are closely watching on the NASDAQ.TIMESTAMPS / KEY TAKEAWAYS0:00 Intro3:00 Where the paths crossed: Somak’s journey with Armory Square Ventures; and Vikas’s prior to ACV Auctions7:55 Takeaway 1: How did Somak identified and surfaced ACV as a tech unicorn11:34 Vikas saying yes to Somak’s pitch on ACV Auctions15:31 Takeaway 2: Breaking down business model of ACV Auctions from digitalising to scaling; “it was basically to get a level of trust and transparency on the asset that was previously unimaginable,”21:07 Takeaway 3: Bringing in mentor who guides and fits well with the team and hiring the best talent25:10 Takeaway 4: Adding value versus overstepping your bounds as a VC28:11 Takeaway 5: Navigating through pandemic and building infrastructure under hyper growth30:57 Takeaway 6: “What else could we do to leapfrog everyone else“; building and maturing a system that fills the industry gap36:24 Takeaway 7: Vikas’ reflection: be more risk taking and hiring key unlockers of acceleration at early stage37:53 Takeaway 8: Somak’s reflection: every time frame is different and about false positives on people39:49 Looking forward #1: the automotive industry in 202440:46 Looking forward #2: 2024 as the best vintage year?42:41 Takeaway 9: Vikas to founders: "How the world is predicted to be is rarely how it ends up being"43:49 Takeaway 10: Somak: "Don't rely on zoom and teams or whichever tool you have as a crush for everything" -PODCAST INFO:Podcast website: https://billiondollarmoves.comWatch on Youtube: https://tinyurl.com/sarahchenglobalJoin the community: https://sarah-chen.ck.page/billiondollarmovesFOLLOW SARAH:LinkedIn: https://linkedin.com/in/sarahchenglobalInstagram: https://instagram.com/sarahchenglobalTwitter: https://twitter.com/sarahchenglobal

“If you can show strong growth in this environment, that means you’re getting corporate budgets at a time when corporate budgets are tightening.”As we continue to emerge from the belt-tightening era in investment and venture, now is an opportune moment to revisit an episode featuring Momei Qu, Managing Director of PSP Growth.Momei carved her own path in leadership, having worked with one of the trailblazers, the esteemed Penny Pritzker, former United States Secretary of Commerce and American billionaire businesswoman known for family investments in Hyatt Hotels and Marmon Group.Today, Momei, who leads PSP's venture capital and growth equity initiative, shares her leadership lessons, from collaborating with a trailblazer to building a robust venture and growth practice and focusing on the future of B2B SaaS despite the valuation slashes we've witnessed.TIMESTAMPS / KEYTAKEAWAYS0:00 Intro0:55 Recognizing the gap in commercializing technology2:40 Joining Merrill Lynch and stepping into venture06:01 Skillset as both engineer and venture investor; upbringing and exposure to deals8:10 Working with Penny Pritzker's private investment group; “If you don't ask for something, you might not get it.”12:28 PSP’s collaborative strategies: ventures, multi-family and industrial properties, private equity, etc; “I've been pleasantly surprised, the unexpected piece of how collaborative everyone has been, and how much better it has been to unlock the power of the whole platform.”17:07 Takes on allocation and balancing investments for family offices19:11 Investing in adversed time and building a robust venture practice; on me too companies21:28 Solutions that go hand in hand with the market and the focus on B2B SaaS 24:44 Notable patterns in SaaS27:42 Takes on B2B SaaS application and AI technologies: security and responsibilities30:50 Takes on founder’s limits and ethics in AI tech innovation32:45 Diligence as an investor34:24 Billion Dollar Questions𝐁𝐢𝐥𝐥𝐢𝐨𝐧 𝐃𝐨𝐥𝐥𝐚𝐫 𝐌𝐨𝐯𝐞𝐬 is THE show for the audacious next-gen leaders. Unfiltered. Personal. Inspirational. Tune in to learn from world's foremost funders and founders, and their unicorn journey in the dynamic world of venture and business.From underestimated to iconic, YOU too, can make #billiondollarmoves — in venture, in business, in life.PODCAST INFO:Podcast website: https://billiondollarmoves.comWatch on Youtube: https://tinyurl.com/sarahchenglobalJoin the community: https://sarah-chen.ck.page/billiondollarmovesFOLLOW SARAH:LinkedIn: https://linkedin.com/in/sarahchenglobalInstagram: https://instagram.com/sarahchenglobalTwitter: https://twitter.com/sarahchenglobal

Investing in women is the smartest thing you could do right now. Erin Harkless Moore, Senior Director of Investments at Pivotal Ventures, a company founded by Melinda French Gates to promote social equity in the realm of investment, eloquently expressed this notion with her work.Whereas in numerous regions across the globe today, it's surprising to consider that such a statement could be contentious. However, we must stand firm: progress is never linear.This week, we're revisiting Erin's episode from last year, delving into discussions ranging from the mission of Pivotal Ventures and her investment strategy to understanding why Melinda French Gates continues to invest $1 billion in women. TIMESTAMPS / KEY TAKEAWAYS0:00 Intro02:50 Takeaway 1: on Pivotal Ventures and driving societal change06:43 Takeaway 2: Investment in diversity initiatives under attack - what are the solutions?11:32 Takeaway 3: Melinda French Gate’s $1B commitment, investment strategies & getting to a 'yes' as an LPFull Episode with Erin:🎙️Podcast: https://link.chtbl.com/bdm-pivotal🎞️ YouTube: https://youtu.be/rlnpoq9bgH8About Pivotal VenturesPivotal ventures engage in strategic investments in funds and early-stage companies, aiming to accelerate social progress by putting more capital in the hands of women and people of color, unlocking new market-based solutions to social problems, and demonstrating that historically under-resourced founders and investors deliver market returns.Learn more about Pivotal Ventures:Pivotal Ventures | A Melinda French Gates CompanyInvesting | Pivotal VenturesBreaking With TraditionMelinda Gates: Here's Why I'm Committing $1 Billion to Promote Gender Equality-PODCAST INFO:Podcast website: https://billiondollarmoves.comWatch on Youtube: https://tinyurl.com/sarahchenglobalJoin the community: https://sarah-chen.ck.page/billiondollarmovesFOLLOW SARAH:LinkedIn: https://linkedin.com/in/sarahchenglobalInstagram: https://instagram.com/sarahchenglobalTwitter: https://twitter.com/sarahchenglobal

This week's episode features Allen Taylor, managing partner at Endeavor Catalyst, one of the earliest supporters at the Billion Dollar Fund for Women (now Beyong The Billion). Allen also sits on the global leadership team at Endeavor, a mission driven organization focused on supporting high growth companies in emerging and underserved markets.We discuss everything from how Reid Hoffman inspired the design of a rules-based fund that in its beta already made LPs eight times their money on an 8.5x DPI to his personal journey with Endeavor to have grown to support over 2,000 high impact entrepreneurs all over the world.Timestamps/Key Takeaways0:00 Intro02:47 The beginning of Allen’s journey with Endeavor04:49 Takeaway 1: Endeavor’s 501(c)(3) nonprofit business model - top down and bottom up approaches10:29 Takeaway 2: What it means to build a firm and a franchise13:32 Takeaway 3: Backing talented founder in emerging markets19:57 Takeaway 4: Endeavor's rule-based fund & selection criteria22:48 Takeaway 5: Takes on “copycat models” 26:40 Takeaway 6: The secret formula to making a mark in underserved markets30:54 Takeaway 7: Emerging markets landscape for 2024 33:16 Billion Dollar Questions-PODCAST INFO:Podcast website: https://billiondollarmoves.comWatch on Youtube: https://tinyurl.com/sarahchenglobalJoin the community: https://sarah-chen.ck.page/billiondollarmovesFOLLOW SARAH:LinkedIn: https://linkedin.com/in/sarahchenglobalInstagram: https://instagram.com/sarahchenglobalTwitter: https://twitter.com/sarahchenglobal

"It's probably not a good idea to overlook female CEOs or Black CEOs. Because they're driving an enormous amount of value in business. And you overlook it at your own expense." - Iman Abuzeid, Co-founder & CEO of Incredible HealthThis week's Billion Dollar Bite is from an event held in Austin, hosted by Beyond the Billion and Brown Advisory, among a crowd of family offices and other investors. Featuring Iman Abuzeid, who upon raising her 80 million Series B funding round, valued her healthcare career marketplace startup at $1.65 billion.Iman exists in rarified air: she is one of only a handful of Black female founders to run a company valued at more than $1 billion. And yet! Rejection, inequality, and leadership pitfalls remain a reoccurring theme in her journey.Tune in as we covered a few topics from fundraising, shifting mindsets to focusing on the fundamentals in a challenging environment.Timestamps/Key Takeaways0:00 Intro2:08 Takeaway 1: Rejection is the norm2:49 Takeaway 2: Fundraising tips: be very selective about who you pursue 3:28 Takeaway 3: Fundraising tips: Focus on your vision and mission despite the stats4:19 Takeaway 4: Financing strategies are personal decisions5:02 Takeaway 5: Focusing on the fundamentals: market and strategy7:23 Takeaway 6: A common mistake among leaders: the people-PODCAST INFO:Podcast website: https://billiondollarmoves.comWatch on Youtube: https://tinyurl.com/sarahchenglobalJoin the community: https://sarah-chen.ck.page/billiondollarmovesFOLLOW SARAH:LinkedIn: https://linkedin.com/in/sarahchenglobalInstagram: https://instagram.com/sarahchenglobalTwitter: https://twitter.com/sarahchenglobal

From a market that was almost nonexistent in 2015, hitting double digits with a ~25% CAGR by 2018, Femtech and women's health industry have been long underestimated until the rise of Thinx and similar brands revolutionized the industry.Today’s guest is Shama Amalean Skinner, an entrepreneur, a trailblazer in the world of feminine care, and a business leader who has broken barriers and challenged societal norms with her previous position as COO at Thinx Inc. Shama played a pivotal role in transforming Thinx into a household name, ultimately paving the way for the mass adoption of reusable products in an industry dominated by single-use disposables.For the first time, Shama reveals how she would have done things differently from an operator's standpoint and expresses real frustration about how the Femtech market is still grossly underfunded, despite its massive potential. Whether you're looking to finally crack mass retail this year for your product or working through some challenging personal questions and navigating startup life, this is another episode I think you'll love.-TIMESTAMPS & Key Takeaways0:00 Intro03:15 Takeaway 1: Three potential opportunities Shama saw in Thinx04:48 Takeaway 2: Changing consumer behaviour and skepticism regarding period underwear #1: Create a movement destigmatizing periods 06:26 #2: Increase brand awareness with controversial subway ads08:32 #3: Converting followship into purchases and revenue with product education and word of mouth effect10:17 Takeaway 3: Changing mind and creating loyalty globally with advocacy work 13:01 Takeaway 4: Business model and revenue numbers for feminine care market14:05 Takeaway 5: Framework for a successful brand: branding, product, and team15:32 Takeaway 6: Shama’s take on what should COOs have in mind as priorities17:13 Takeaway 7: Strategies against supply chain issues19:44 Takeaway 8: Create redundancy in supply chain20:27 Takeaway 9: What makes a good COO?21:40 Takeaway 10: Business opportunities in Femtech and women health24:33 Takeaway 11: What needs to change for women to progress in the capital spectrum in getting that innovation funding?25:47 Takeaway 12: Founder’s lens: rejections at funding stage28:39 Takeaway 13: Key to decision-making as Thinx going into retail30:22 Takeaway 14: When is right time for founders or top performers to move on?31:46 Takeaway 15: 3 questions you ask yourself to decide if you were to step away 32:30 Billion Dollar Questions-About Shama Amalean SkinnerShama Amalean Skinner is an entrepreneur and executive working at the intersection of sustainability and consumer markets. She is the former chief operating officer of Thinx Inc, the revolutionary period and incontinence underwear company. At Thinx, she played a key role in launching, growing, and ultimately selling the company to a publicly listed corporation — effectively catalyzing the mass adoption of a reusable product in a category dominated by single-use disposables. Shama is an engaged consultant, board member, and advisor to innovative start-ups, venture funds, and nonprofit organizations. She is deeply committed to advocating for gender equity and helping solve the climate crisis.Shama | LinkedIn-PODCAST INFO:Podcast website: https://billiondollarmoves.comWatch on Youtube: https://tinyurl.com/sarahchenglobalJoin the community: https://sarah-chen.ck.page/billiondollarmovesFOLLOW SARAH:LinkedIn: https://linkedin.com/in/sarahchenglobalInstagram: https://instagram.com/sarahchenglobalTwitter: https://twitter.com/sarahchenglobal