So this is venture capital, but even cooler? 🤔
In episode 010 of “New to Venture”, I had the pleasure of speaking to Jane Chen, Principal at Blue 9 Capital. When people think of venture capital investing, they think of the big VC firms like Accel and Sequoia Capital. What people don’t know is that family offices also invest in startups and can perform just as well! VC is already such a secretive industry, but the world of family offices is even more secretive and maybe even more glamorous. Founders have to pitch to VCs, but VCs have to pitch to family offices! Tune in to learn the ins and outs of a top NYC venture capital focused family office!
Here are some key takeaways from our conversation:
- Family Offices investments tend to lean more towards capital preservation while VC firms look to return their fund with any given investment. This allows for Family Offices to be more fluid and flexible with interesting opportunities. đź’ˇ
- Family Offices are generally more low key due to security and safety concerns. For this reason, Family Office circles are tight and referrals go a long way! 🤝
- There is so much money in this world. Families have built massive generational wealth through means besides high finance, technology, and consulting. đź’°
(00:00) - Introductions!
(03:41) - NY Tech Week and generational wealth
(05:18) - Jane’s career pathÂ
(08:28) - Transitioning from IB to VC
(13:22) - What is a Family Office?
(16:15) - Classic Venture Capital vs. Family Office
(18:30) - Highlights of working in a Family Office
(25:47) - Family Office value-add to founders
(30:24) - Complexities of working with families
(33:58) - Recruiting in Family Office investing roles
(37:15) - The VC learning curve
(37:55) - Ceremonial Final Qs
