“Welcome to Included VC 2023”
These were the magic words that were said to me on Monday, May 22nd, 2023. Damn right I remember the date. I held back tears as Nikita and Anu aka the Included VC Dream Team told me that I had just been admitted to THE Included VC.
Now if you don’t know what Included VC is then you are living under a rock…
But don’t worry, I got you.
Included VC is where the best of the best of underrepresented talent are selected to be a part of a Global Venture Capital Fellowship. If you are selected then that means the Included VC team believes that you will shape the future of venture capital. Thousands, yes, thousands apply from all over the world to get the chance of learning from some of the best investors across the globe. Let me just put into perspective what a big deal it actually is…
At this point, it’s more difficult to get into Included VC than it is to get into some MBA programs. Currently, the Fellowship only has a 3% acceptance rate. #JustStatingFacts ☕
So here I was on the verge of tears because I had been selected as one of about 66 people to be a part of such a prestigious Fellowship that over 4,000 people this year were interested in.
Child of Pakistani and Mexican Immigrants: from Los Angeles to Venture Capital
Growing up, I didn’t know what venture capital was. I grew up in Los Angeles County, the daughter of Muslim parents who were immigrants from Pakistan and Mexico. We lived a comfortable life until my father started to experience severe health issues when I was a teenager. That’s when life flipped upside down. We lived paycheck to paycheck and there was always the fear that we would lose what we had. So the idea of saving money to invest wasn’t even a thought that crossed my mind.
When my father passed away, it lit a fire in me to work even harder. It wasn’t until I was years into my career that I started to learn about venture capital, but, I was hesitant:
Was I capable of being in this space?
Would I have to compromise my identity?
Could I even “get into” VC?
When you grow up having to worry about money, it’s a constant thought in your head. It just doesn’t go away. Everything you do is with the intention of building a better future for yourself and your family.
I took my time… and then I took the leap.
Now, if you’re not too familiar with venture capital don’t worry. I got you remember? Here is a quick breakdown:
Venture Capital 101
Venture capital is a type of financing where investors provide funding to startup companies and small businesses that are believed to have long-term growth potential. Venture capital firms are where the capital is deployed from. They can vary in terms of structure, but they are usually broken down as follows:
The general partner oversees and runs the venture firm. Limited partners on the other hand do not. The general partner is responsible for all debt whereas limited partners are only liable for the amount of their investment. They both put capital into the venture fund and then capital is then deployed to the startups aka investments.
A few other positions at venture firms include:
Platform: As a venture firm starts to expand its portfolio, the founders will need access to resources, support, etc. That’s where the Platform team comes in. They work closely with founders to help support them as they grow, build resources, and maintain a strong community.
Investor Relations (IR): They are responsible for managing and maintaining relationships between the firm and its investors as well as looking out for prospective investors. As firms become more successful they will build new funds within their firm which means they will need to look for more capital. That’s where the IR Team comes in.
Marketing: Venture firms aren’t just firms anymore; they are also brands. Many firms now have in-house marketing teams to help them in building and maintaining their brand which will ultimately garner founder interest. They may also support founders on their marketing needs and spearhead events.
The Power of VC
If there is one thing I want you to take away from this article it’s this: venture capital has the power to make positive change in the world, but there is still a lot of work to be done. Exhibit A:
According to Diversity VC, only about 1.87% of $31 billion held by 200 venture capital funds has been allocated to startups with diverse leaders.
Now, is that because diversity doesn’t matter? It actually does.. and it’s been proven time and time again that diverse companies are more successful.
Exhibit B:
A six-year study buy McKinsey and Company found that more ethnically and culturally diverse businesses (PDF) are as much as 36% more profitable than the least diverse companies.
One of the biggest reasons behind the lack of capital to diverse founders is due to the lack of diversity on the investor side. Diversity on investment teams has also proven to drive results, but teams still lack diversity.
Exhibit C:
Research shows that investment teams composed of people from similar backgrounds hurt financial outcomes, and investments made by partners with shared school backgrounds have an 11.5% lower success rate in acquisitions and IPOs than those made by partners from different schools.
Diversity is essential across the board and the power an investor holds shouldn’t be overlooked. Investors have the opportunity to shape the future of venture capital as well as the future of communities, economies, and more. Unfortunately, because venture capital is still a boy’s club, the barriers to entry are also very high. If you don’t have the network or the foundational skills it may take you a while to break in.
Fortunately, that’s where Included VC comes in.
As I mentioned above, Included VC is where the best of the best of underrepresented talent are selected to be a part of a Global Venture Capital Fellowship that is ultimately bringing in diverse investors to venture capital without having to compromise their identities.
Now, let’s learn more about Included VC and my experience thus far as a woman of color💃
In a League of Its Own
Since the moment I became a Fellow I’ve been welcomed with open arms in a way that I’ve never experienced before. First off, the program is organized to a T and as someone who’s worked on the platform side, I know how much time something like this can take.
What is even more impressive is that the Fellowship is led by two of the most incredible South Asian women who are changing not just venture capital, but also our lives, Nikita and Anu. Nikita and Anu are there for us both personally and professionally. They have pushed me to do better both personally and professionally in just a few weeks. That speaks volumes.
Fellowship Structure
The Fellowship encompasses every single thing you need to know about VC. Don’t think that getting into the Fellowship means your fate is sealed. That’s just the start, but if you put in the work the results speak for themselves. The Fellowship is intentionally divided into different categories that will all ultimately shape your success.
Classes
Below are some of the topics of workshops that are mandatory for you to attend. At each workshop, there are leaders from venture funds all over the world. It’s one of the things I love most about the Fellowship. I get to see the perspectives of all these speakers across various stages and sectors and they give you insight that you will not get anywhere else.
You also get the information delivered in different ways: Deep Dive 101s, Masterclasses and a chance for you to get your questions answered.
Did I mention that many of them are also alumni who have been promoted in their roles? Remember, #Results!
Partners
“How much does this Fellowship cost?” was one of the questions I first had when thinking about applying to Included VC. I thought that there was no way an opportunity like this could be available for FREE. Well it is…
And it’s because of some incredible partners that it’s a reality.
When we think of opportunities for underrepresented communities, most of the time they can come at a hefty price tag. When you come from humble beginnings like myself paying thousands of dollars up front for a fellowship can be difficult. It’s an investment… and a big one. So when I found out that Included VC was fully funded by partners I was shocked. You know that phrase, “Put your money where your mouth is”? These partners are doing just that. Not only do they financially support this Fellowship, but they are also the ones serving as our professors and providing us with exclusive access to information one cannot get elsewhere.
And mind you, these aren’t just any funds, but some of the best in the world. From HSBC to Notion Capital to HV Capital, these funds aren’t just saying they care about accessibility to venture capital… they are funding the path forward. A huge shout out to them below:
Diverse Community
Navigating venture capital can be really difficult especially when you are trying to build your network and as I mentioned already, the space is still very homogenous and exclusive. That’s what sets Included VC apart.
Not only are you able to build a strong community with those around you, but when you look at the cohort you see people from all backgrounds. With that comes the ability to have discussions that ultimately impact our communities. To be able to have these authentic conversations is a gift… even though some end up going HOURS over LOL. That just shows how much we get along and support one another.
Results
You might be wondering: Okay it sounds great, but Sof, does this fellowship actually drive results?
Yes, it does. Here are stats from the past few years:
2020: 83% of Fellows actively applying to break into VC successfully did so.
2021: 90% of Fellows actively applying to break into VC successfully did so.
2022: 83% of Fellows actively applying to break into VC successfully did so.
Some of the funds that Included VC Fellows joined are also listed below. Not bad right?
Shaping the Future
At Included VC, I don’t have to compromise who I am nor do I have to hold back from talking about real issues that impact people who look like me. I am celebrated, supported, and encouraged to grow by not just the team and masterclass leaders, but also by my peers.
This Global VC Fellowship has been a whirlwind and it is not easy, but it is fulfilling and I truly feel that I am learning in ways I wouldn’t learn anywhere else.
If you are considering Included VC, take it from me… don’t wait. Apply now and see the impact it will have on your life: https://included.vc/
