The Michigan Venture Capital Association is proud to offer the Venture Fellows Program to Michigan’s venture capital community. The program, launched in 2023, is designed to increase the number of venture professionals in Michigan in order to accelerate the fundraising and deployment of capital into early-stage companies.
Reflections on My MVCA Fellowship
October 2023 marked the beginning of my Michigan Venture Capital Association Fellowship and my full-time analyst position at Grand Ventures. Though 19 months have passed, it feels like just a few months ago. Time really flies when you’re having fun, which is exactly what the past year and a half have been! I was invited to share some thoughts of reflection on things I have learned, experienced, and navigated while being an MVCA fellow, so here we go.
Starting Strong: Achievements
Let’s kick things off on a high note—achievements. Since joining the Grand Ventures team, I’ve sourced two deals that made it into our portfolio, along with a few others that came incredibly close (still a bit sad over those). This stands out as the most meaningful milestone in my career so far. As a junior VC, my primary role is to source great deals, and there’s no better validation than seeing some cross the finish line. What makes it even more rewarding is the immense effort behind every closed deal—countless unseen hours honing my “deal nose,” building a strong network, and staying sharp on market trends. The closing process itself has been an incredible learning experience and one that has taught me how thankful I am we have a legal team for redlining.
Bumps in the Road: (aka) Challenges
Next up, challenges. Initially, the biggest hurdle was my lack of knowledge of the venture capital industry as a whole. What is an LP? How do you set a valuation? Where does my salary come from? You know–the classic non-finance person entering the VC field type of questions. Thankfully, this was easy to overcome with a few detailed books, podcasts, and a helpful team. As I grow in my career though, I have learned there is so much more to learn and discover. That is the beauty of venture capital, it keeps you on your toes and your mind sharp.
Another challenge I’ve faced—and one I know others in my position have experienced—is imposter syndrome. As a young woman in venture capital, it was initially daunting to join calls with seasoned founders or walk into events full of middle-aged men on my own. What has helped me is remembering that my role isn’t to have an answer to every market question or know every industry detail. Instead, I focus on learning about the business, the founder, and the company’s history so I can present the opportunity effectively to my team. When it comes to networking at events, it really does get easier with practice. A piece of advice that’s helped me is to aim for three meaningful connections per event. This approach not only reduces the pressure to “maximize ROI” but also makes the relationships I form far more valuable than having a quick chat with a dozen people.
Self-Discovery
I was asked next to share what I’ve learned about myself and my perspective on venture capital that is new or surprising. I’ve learned and witnessed how small the venture world can be, especially within the coasts. It is a network business and, therefore, you have mutual connections with pretty much everyone you meet. So reputation means a lot. How you treat other investors and founders sticks with your name and your fund. It is meaningful, as it should be! I was also surprised with how much I hate saying “no” to founders. It is probably the worst part of the job–sending pass emails–but it is a huge part of it given the small percentage of companies seen that actually make it to investment. Lastly, I have learned how important it is to stay up-to-date on what is happening in the world in terms of technology but also current events. The venture ecosystem changes so quickly and can impact investments drastically.
Looking Ahead
As the MVCA fellowship wraps up, what’s next? For now, I’m committed to staying in venture. It’s a field that builds on itself over time, and right now it feels like the momentum is just starting to pick up. I’ve also always been drawn to the idea of joining an early-stage startup to gain hands-on operating experience. I believe there’s tremendous value in understanding what it takes to build a company from the ground up and that experience would be invaluable when I return to the venture side.
Overall, my experience as a fellow has been foundational to my early career. I’m deeply grateful for the diverse range of opportunities the MVCA has provided—networking events, podcasts, panels, academy days, and more. The fellowship has pushed me out of my comfort zone in all the right ways, helping me grow both personally and professionally. I also appreciate that the fellowship covers my participation in MVCA-sponsored events as well as other educational and training opportunities outside the MVCA. This funding has allowed me to pursue valuable experiences early in my career. Most of all, I’ve cherished the friendships I’ve formed with the other fellows, which have been one of the most rewarding aspects of the program.
Last question, best question! In your last blog, we asked that besides work, what are your passions or aspirations. You shared that you are passionate about traveling, health and fitness, the great outdoors, music, and math. How are these like or not like venture capital?
This is a fun question! I’ll start with travel. Most people love to travel because of the new experiences: meeting new people, seeing a new city, and trying new food. Venture has a lot of this. In my role, you are constantly meeting new people, seeing new technology, and learning new things. Plus you do get to travel a lot for conferences which is such a highlight. Nothing can replace meeting people face-to-face! As for math, it’s a fundamental part of venture capital. While it may not involve the conceptual proofs I enjoyed in Abstract Algebra, the work still taps into my love of numbers. Calculating returns, valuations, and interest fulfills my passion for math.
Health and fitness are also somewhat tied in. I have a sit-stand desk that lets me stay on my feet for part of the day, and healthcare/digital health is one of our core sectors at Grand. I’m especially passionate about digital health because I get to evaluate companies that are creating innovative solutions to improve population health. Of the four sectors we focus on, digital health truly aligns with my personal interests.
When it comes to music and the outdoors, I’ll admit there isn’t much direct overlap with my career. Sure, you could stretch the analogy—music and venture both involve creativity and building something new—but the reality is that music and nature are more my personal escapes. They provide a way to relax and unwind, separate from my professional life.!