EVCA Newsletter | July Edition - The Latest VC Jobs, Events, and Features
By now, the news that the pace of venture capital funding in recent months has been on a downward trend should come as no surprise. In May 2022, global venture capital funding dropped to $39B, well below the $70B peak that it had reached in November 2021. With global public capital markets in a tumultuous rout over the last few months, private markets seem to be merely playing catch up.
It’s important to note, however, that the venture capital industry as a whole is not a monolith--that certain segments in the industry are showing positive signs of resilience. While the general slowing of IPO markets has caused the greatest pullback among growth- and late-stage investments, seed funding has shown remarkable robustness as an investment stage. Investors poured in $3.1B in seed-stage startups in May, which represented an 11% increase from the $2.8B monthly average in 2021. What’s next for the world of venture capital in these uncertain economic times? More likely than not, the pace of venture capital funding will continue to decline and valuations will make their slow creep downwards. However, with many venture investors fresh off from raising the biggest sum of VC capital in history, opportunities to compete for emerging early-stage companies likely will continue to abound. As venture capital remains a long-game sport, I’m resolute in my declaration that the party is not quite ready to be over yet.
And with that bit of introductory fanfare, welcome back to this edition of the EVCA newsletter!
Meet Stephanie Cherrin, Partner at J.P. Morgan Technology Ventures
We had the chance to interview Stephanie Cherrin, who is a Partner at J.P. Morgan Technology Ventures. Stephanie shares her origin story--from working in Israel's tech and venture ecosystem, leading investments at two corporate venture capital groups, and, in her most recent chapter, investing in emerging startups for one of the most prestigious financial institutions in the world. In her interview, Stephanie also shares her thoughts about life and career.
Featured Investors
This month we highlight Martha Teka of Telescope Partners and Tansel Ismail of Energy Impact Partners (EIP) as our featured investors of the EVCA community.
Martha Teka is an Associate at Telescope Partners, where she explores early growth B2B SaaS investments. Prior to joining Telescope, Martha was on the Corporate Strategy team at Bright Health Group, a diversified healthcare startup based in New York City, focusing on organic and inorganic growth strategy. Martha began her career in management consulting, where she worked on a variety of strategy, operations, and diligence projects across the healthcare, retail, and technology sectors.
Tansel Ismail is a Vice President at Energy Impact Partners (EIP), a $3bn multi-stage venture focused on the energy transition. At EIP, he focuses on enterprise software and cybersecurity investments. Prior to EIP, he was an Investment Banking Analyst at Citigroup in the technology group and graduated from the University of Florida with B.S. in Finance.
Asks
The 2022 Global CVC Benchmarking Survey
SVB and Counterpart Ventures are conducting their 2022 Global CVC Benchmarking Survey. Last year's survey, which you can find here, examined the inner workings of how CVC funds operate, providing guidance and key benchmark data for CVC investors and corporate stakeholders. If you have a moment and are at a CVC, we highly encourage participation in this year's survey, which you can access at the link below. As always, responses will all be kept anonymous and confidential (we do not disclose who participates) and respondents will receive a bottle of SVB wine upon completion!
What We’re Reading
Here we share our favorite content produced from EVCA members across the world:
A VC Told Me His Favorite Question to Ask Entrepreneurs, and the Brilliance of it Shocked Me - Aaron Dinin of Duke University, recalls an answer from a Q&A session with a VC that shocked him
The Importance of CAC Payback in Today’s Market Environment - Parsa Saljoughian of WHOOP, identifies why cash efficiency is becoming much more important in today’s market
2023 Will Be the Year That the New Space Bubble Pops - Anton Brevde of Prime Movers Lab, explains his opinion of the end of New Space 1.0 and the opportunities that lie ahead in the area
How will molecular farming shape the future of food production? - Kingstone Schweizer Ventures explores the greatest risks and opportunities within the sector, and why it’s so important to build many solutions for decarbonizing our food system
In the Room with David Yuan - Madison McIlwain, Partner at defy.vc, interviews David Yuan, GP at Tidemark, in this podcast.
Bet On Just One Non-Obvious Founder - David Zhou of Cup of Zhou, shares how investors can build a brand in the world of venture capital by betting on a non-obvious founder
Events
Empowering Entrepreneurs Virtual Summit (EEVS) | July 8 - 10 | Hosted by Entrepreneurs Networking Company
Venture Capital Summit | July 21 | Hosted by Association of Asian American Investment Managers
The Future of Money & Finance Is Arriving Faster Than You Think | July 12 | Hosted by Austin Forum of Technology and Society
SSBCI for Emerging Managers | July 12 | Hosted by NVCA and Venture Forward
Equity Markets Down: How to Raise Capital Now? | July 13 | Hosted by Cake Equity
#LATECH2022 - The UK Technology Showcase | July 14 | Hosted by British & Colombian Chamber of Commerce
Future of Education Summit | July 29 | Hosted by CNBC
Jobs
Investment Associate Role in Palo Alto, CA at Porsche Ventures
Investment Associate Role in Seattle, WA at Argonautic Ventures
Insurtech/Fintech Associate Role in New York, NY at Equal Ventures
Vice President/Principal Role in New York, NY and Remote at HC9 Ventures. If interested, send a cover letter that explains why you are passionate about healthcare and about venture
investing with your CV to hr@hc9.vcAnalyst/Associate Role in Redwood City, CA at Sozo Ventures. If interested, email your resume to lgomez@sozo.ventures with the subject line “Sozo Analyst/Associate Application”
Associate and Vice President Role in Los Angeles, CA or New York, NY at Smash Capital. If interested, email your CV to careers@smashcap.com with an email cover note that includes:
1) Your preference on location (New York or Los Angeles).
2) A summary pitch (in bullet points) for two companies you think Smash Capital should invest in ($25-75 million equity investments within the next 12 months), including a very short overview of the business, your investment thesis, and why the company is a good fit for SmashContent and Platform Senior Associate Role in San Francisco, CA at Truist Ventures
Crypto Native/FinTech Associate/Senior Associate Role in Bay Area, CA at PruVen Capital
Enterprise IT Associate/Senior Associate Role in Bay Area, CA at PruVen Capital
Generalist Associate/Senior Associate Role in Bay Area, CA at PruVen Capital
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