Opening Remarks & Fireside Chat with Serena Ventures | Unity and Inclusion Summit 2021

TL;DR

Serena Ventures says 2020 did not fundamentally change its longstanding focus on diverse founders, but it strengthened founder relationships, encouraged more empathetic outreach, and moved investing further into digital channels. The firm initially slowed its pace, then adapted by holding additional virtual meetings and exploring education investments such as one-to-many AP exam tutoring. Read on for its approach to remote investing, founder support, and educational inequity.

Transcript

and then obviously um all the tragic events that happened that led to black lives matter and like how is that um you know how has 2020 changed the firm's approach if at all in terms of either investment pace or maybe um certain sectors that you decided to lean in more towards or things that you did specifically for the diverse founder and deal flow... Read More

Key Insights

• 🆘 Emphasizing personal relationships with founders and fostering empathy helps in navigating diverse investment challenges.
• 🤝 Adapting to digital communication facilitates investment continuity and expansion of diverse deal flows.
• 👶 Investing in educational technology for underrepresented communities can bridge educational inequities and create new opportunities.
• 🎟️ Overcoming recruitment challenges by promoting diversity-focused hiring practices and explicit mission alignment.
• 😫 Leveraging diverse networks and setting tangible goals propel success in fostering talent diversity and inclusive investment practices.
• ❓ Championing diverse founders through innovative solutions underscores the potential for social impact investments and revenue growth.
• 👣 Tracking diverse representation metrics and promoting transparency in promotion criteria define success in maintaining diversity and inclusion initiatives.

Questions & Answers

Q: How did 2020 change Serena Ventures’ approach to investing in diverse founders?

Its core approach changed little because diversity had already been a focus. However, 2020 gave the firm a louder platform, brought requests for advice from other firms, and led to more personal and empathetic relationships with founders.

Q: How did Serena Ventures support founders during the pandemic and other events of 2020?

The firm reached out to founders, offered a safe space for conversations, and brought founders together. It also worked with its internal social team to help founders discuss world events appropriately within their companies.

Q: Did Serena Ventures slow its investment pace during the pandemic?

Yes, the firm initially slowed down because the pandemic created uncertainty. It later became more comfortable investing in people the team had not met in person.

Q: How did Serena Ventures evaluate founders remotely?

The team used Zoom and typically held a few more meetings because it could not meet founders face to face. As an early, founder-focused investor, it wanted to understand each person and what motivated them.

Q: Was Serena Ventures already prepared for remote work?

Yes, Serena and her investment partner had worked remotely from day one because they lived in Florida and California. They already communicated through Zoom, FaceTime, WhatsApp, and Slack.

Q: How often did Serena Ventures’ leaders meet before the pandemic?

Serena and her investment partner aimed to meet in person once a month before the pandemic. At the time of the conversation, they had not seen each other in person for 14 months but still spoke every day.

Q: Why will remote work remain important for Serena Ventures?

The team expects its normal operations always to include remote work. Serena’s travel to Europe for the French Open and Australia for that open means the team must be able to operate remotely.

Q: What education investment opportunities was Serena Ventures exploring?

The firm was examining how digital learning could supplement physical schooling and address inequities in traditional education. One example was one-to-many tutoring for AP exams, which the speaker said tend to be offered more often in affluent communities.

Summary & Key Takeaways

• Investors maintained focus on diversity and inclusion during 2020, amplifying support for diverse founders.

• Pandemic challenges led to more virtual interactions, emphasizing personal connections with founders.

• Investing in educating diverse portfolios to bridge educational inequities while embracing e-commerce transformations.