July Newsletter: Summer is in full swing, and so is SomosVC!
2024 Annual Summit & much more!
In this issue:
Secure Your Early Bird Ticket: The Annual Summit Kicks Off at SF Tech Week!
NYTW 2024: A community-building recap
Hispanic Heritage Foundationās Investors Forum
Community Wins š„³
NVCA and Venture Forward host an Emerging Manager Policy Webinar on 7/10
VC Unleashed releases their survey results: āThe Road to Ventureā
The 2024 Annual Summit Registration is open!
Mark your calendars for October 9th and 10th! SomosVC is in full planning mode to host its marquee event, the Annual Summit, and largest gathering of Latinos/as in VC! This yearās Annual Summit will take place during SF Tech Week in the heart of the city. Expect two days of dynamic networking activities, thought leaders, insightful panels, and so much alegria! Grab one of the last few early bird tickets today.
SomosVC at NYTW 2024: A community-building recap
In addition to AI taking over NYC during NYTW, SomosVC hosted several community events with incredible ecosystem partners throughout the week. The energy was palpable as connections were made between folks who are value-aligned and advocates for progress in representation across the VC and entrepreneurial landscape. Take a look at some of the captured moments below and stay in the loop with future events by following us on LinkedIn and X.Ā
A Latino/a Founders & Investors Speed Dating (US & LatAm) event was generously hosted by Google to provide a unique networking opportunity. It was organized with SomosVC ecosystem partners: Colectivo, Pygma, and Dux Capital, and Lazo, bringing together a dynamic community of entrepreneurs and investors to connect and explore potential collaborations.
The Founders & Funders In Color Happy Hour was a vibrant gathering co-hosted by SomosVC, BLCK VC, VamosVentures, Plug In Ventures, and NYCEDC. This was the second year in a row (and not the last) where we collaborated to create a space to advance our shared mission to propel diverse founders and funders in the greater tech ecosystem. A huge shoutout to our sponsor and team at J.P. Morgan, who made this event possible.
GV, First Close Partners, & Plexo Capital hosted an LP & Fund Manager Dinner, an intimate evening of connection and conversation. The atmosphere was electric as industry titans Candice Morgan, Partner at GV, Ed Zimmerman, Founding Partner of First Close, and Lo Toney, Founding Managing Partner of Plexo Capital, shared their insights, optimism, and unwavering support for the innovative funds and vehicles that are redefining the future of venture capital ā including SomosVC.
A panel and networking event focused on frontier tech, "What Narratives are VCs and CVCs Looking to Invest in 2024 and Beyond," brought the SomosVC community together in partnership with ALPFA Ventures, Accenture, and Rayo Capital, came together for an evening centered around frontier tech. The evening's highlight was a panel discussion moderated by Christian Narvaez, Founder & Managing Partner of Rayo Capital and Founder of ALPFA Ventures. The panel featured industry experts Manuel Merino from Accenture, Luisa Sucre from Collaborative Fund, and Nelly Ortiz from NTT, who shared valuable insights on the latest trends and opportunities in frontier tech. This event was a gathering of innovation, diversity, and a shared vision for the future of tech.Ā
SomosVC joined AWSM SCTY as it officially launched its community with a Founders & Funders Brunch aimed to inspire, amplify, and enable diverse tech investors and builders with the ideas, connections and tactical steps to realize the future. This inaugural gathering brought together Black and Brown funders, founders, and operators in NYC. The goal is to expand across three key cities: NYC, LA, and Miami. Learn more about AWSM SCTY here!
Hispanic Heritage Foundationās Investors Forum
Last week, SomosVC had the privilege of participating in the 11th Annual Hispanic Heritage Foundation's Investors Forum. The event showcased outstanding content, inspiring speakers, and invaluable connections. Seeing so many of our community members sharing their wealth of knowledge was fantastic.
The forum provided insightful discussions on the current state of venture capital from various perspectives and thought-provoking dialogues on the future of Latino/a representation in private capital markets.
We are thrilled to celebrate the latest achievements within the SomosVC community!
Congratulations to Miami-based Conexa Capital, led by Jonathan Beda, for successfully closing its debut VC fund with over $20 million committed.Ā
Kudos to The General Partnership, led by Daniel Portillo and Phin Barnes, on the launch of its $300 million second fund.
Stay tuned for more updates and success stories in our next edition!
NVCA and Venture Forward to host an Emerging Manager Policy Webinar
Join the Emerging Manager Policy Webinar on July 10, co-hosted by NVCA and Venture Forward. Learn about key policy issues like the SEC's Private Funds Rule, FinCEN regulations, tax matters, March-In Rights, and the R&D/Deal Act. Hear from Carmen Palafox (2045 Ventures) and Charles Hudson (Precursor Ventures), plus the NVCA and Venture Forward teams. Register here.Ā
VC Unleashed Shares Latest Insights on Diversity in Venture Capital
VC Unleashed released the results of their survey, titled āThe Road to Venture,ā which included responses from over 500 current and aspiring VCs from diverse backgrounds. The survey aims to provide data and detail about the process of breaking into venture capital. Read more here.
Takeaways:
50% of current investors say VC recruiting has gotten harder since they started their role.
68% of respondents noted that VC internship compensation is or could be a limiting factor in pursuing VC as a career.
Partners and pre-partner VCs highlight cultural fit and "doing the job before having the job" as top hiring traits, yet many aspiring investors are unclear about what this means.
Communities like VC Unleashed (and SomosVC) are making a significant impact on education and career readiness in venture capital.
Join the SomosVC Directory! Fill out this form to be included in our directory and connect with others.Ā
Looking to expand your network and connect with like-minded individuals? Reach out to fellow members and schedule a virtual coffee chat or meetup. Building meaningful connections is what our community is all about.
Letās amplify good news! Have exciting news, updates, or announcements you'd like to share with the SomosVC community? We invite you to contribute to the SomosVC newsletter here.