Exploring Innovative Funding Structures for Affordable Housing: Insights from Liz Kuka

Welcome back to the Female VC Lab Podcast! In our latest episode, we had the pleasure of speaking with Liz Kuka, CEO of Purpose for Profit. Liz shared her unique perspective on venture capital, affordable housing, and the innovative funding structures her organization is pioneering.

Who is Liz Kuka?

• Name: Elizabeth Kuka
• Title: CEO
• Fund: Purpose for Profit

The Motivation Behind Venture Capital

When asked what inspired her to become a venture capitalist, Liz succinctly stated, “Money makes the world go round.” She believes in deploying capital to projects that can create real change, empowering people to bring their visions to life.

Purpose for Profit: A New Approach to Funding

What is Purpose for Profit?

Purpose for Profit operates as a tokenized lending fund, focusing on providing below-market-rate loans to businesses that are developing affordable mixed-income housing. Here’s how it works:

• Funding Mechanism: Individuals can purchase tokens, with 85% of the funds raised being deployed to loans for affordable housing projects.
• Types of Loans: The fund starts with construction bridge loans, addressing a significant gap in the market where traditional lending often falls short.

Transparency and Accessibility

Liz emphasized the importance of transparency in fund management. By leveraging blockchain technology, Purpose for Profit aims to provide:

• Real-Time Reporting: Unlike traditional funds that may take months to generate reports, stakeholders can access real-time data on asset management and loan progress.
• Simplified Investment: Instead of navigating complex legal documents, participants can engage through a straightforward token purchase backed by smart contracts.

Addressing Challenges in Affordable Housing

Liz pointed out that many nonprofits struggle with fundraising and face donor burnout. She highlighted the potential of cryptocurrency, which currently exceeds $3 trillion in market capitalization, to create new funding streams for affordable housing initiatives.

Why Focus on Affordable Housing?

Liz believes that safe and affordable housing is a crucial determinant of economic stability and educational outcomes. She noted that:

• Housing Impacts Life: Without a safe place to live, individuals face significant barriers to education and health, affecting their overall quality of life.
• Philanthropic Support: While many philanthropic efforts focus on education, Liz advocates for equal attention to housing as a foundational element of community well-being.

The Future of Venture Capital

Looking ahead, Liz predicts that venture capital will evolve significantly in the next two years. Key trends to watch include:

• Rise of Digital Assets: As younger investors become increasingly involved, the use of digital assets will lead to faster capital deployment and liquidity.
• Need for Education: With new money entering the market, there will be a heightened need for education on due diligence and risk management to ensure informed investment decisions.

How to Connect with Liz Kuka

Interested in learning more about Purpose for Profit or connecting with Liz? Here are the best ways to reach out:

• Website: Purpose for Profit
• Email: Liz@purposeforprofit.org
• LinkedIn: Find Liz on LinkedIn for professional networking.
• Twitter: Follow her on Twitter at @venture_this.

Conclusion

Thank you for joining us in this insightful conversation with Liz Kuka on the Female VC Lab Podcast. Her innovative approach to funding affordable housing through Purpose for Profit is a testament to the power of combining technology with social impact. Stay tuned for more episodes where we continue to explore the intersection of venture capital and meaningful change!

Episode E107: Julia Krieger of Pari Passu Venture Partners

Guest: Julia Krieger
Host: Barbara Bickham

Summary: In this episode of the Female VC Lab Podcast, Barbara Bickham interviews Julia Krieger, founder of Pari Passu Venture Partners. Julia shares her journey into venture capitalism, the unique structure and thesis behind her firm, and the importance of value-add investors. The conversation covers her current learnings, thoughts on future trends in venture capital, and how PariPassu aims to support founders through their innovative approach.

Key Points:

1. Inspiration Behind Venture Capitalism:

   • Julia's entrepreneurial spirit and prior experience as an operator drove her to venture into investing, allowing her to support a diverse range of companies and continuously feed her intellectual curiosity.

2. PariPassu Venture Partners' Unique Approach:

   • The fund operates through individual SPVs rather than a traditional venture fund, involving a wide array of dedicated resources and a focus on meaningful involvement from experienced operators.

3. Thesis and Motivation:

   • PariPassu’s main thesis is that collaboration and support from experienced operators on the cap table can help de-risk businesses and bridge the gap for high-net-worth individuals wanting to participate in top venture deals with smaller checks.

4. Future Trends in Venture Capital:

   • Julia foresees a greater emphasis on value-add investors and more thoughtful fundraising strategies. Additionally, she predicts a growing interest in industries like defense tech and wellness tech.

Fun Facts:

1. Book Recommendation:

   • Julia is rereading "The Surrender Experiment" by Michael Singer, which emphasizes the concept of flow versus force in life and business.

2. PariPassu App:

   • PariPassu recently launched an app designed as a tech home for their community, making it easier to share opportunities and support founders.

3. Investment Record:

   • Since December 2020, PariPassu Venture Partners has invested in 30 deals with approximately $1 million check in each.

Contact Information:

• Email: julia@ppvp.com

• Download the Pari Passu's app to connect and share opportunities.

Thank you for tuning in to the Female VC Lab Podcast with your host, Barbara Bickham! Be sure to check out the show notes for more details and resources.

Welcome back to the Female VC Lab Podcast! In this episode, we had the pleasure of speaking with Keara Sauber, CEO of Sauber Capital. Keara shared her journey into venture capitalism, her investment thesis, and her thoughts on the future of the industry. Here are some key takeaways from our conversation.

Who is Keara Sauber?

Keara Sauber has over 20 years of experience in the healthcare and technology sectors. She began her career in big pharma, driven by a passion for making impactful changes in healthcare. Her focus areas include:

• Biotech
• Diagnostics
• Women's health
• Health and wellness

Keara's Investment Thesis

Keara's investment philosophy is rooted in her commitment to healthcare innovation. Her approach encompasses two main arms:

1. Venture Investments: Targeting seed to Series A funding for startups.
2. Growth Capital: Investing in revenue-generating companies that are not necessarily in life sciences.

Key Focus Areas

• Biotech and Diagnostics: Keara emphasizes investing in companies that innovate at the intersection of cutting-edge science and impactful healthcare solutions.
• Women's Health: She is particularly passionate about supporting female founders who are addressing critical healthcare needs.

The Longevity Space

Keara expressed her interest in the longevity sector, highlighting the importance of understanding the difference between health span and lifespan. She is currently exploring:

• Inflammatory markers: Keara believes inflammation is a critical factor in many health issues and is focused on preventative diagnostics.
• Breakthroughs in longevity: With the FDA recognizing longevity as a therapeutic category, Keara sees opportunities for innovation and collaboration in this space.

Evolving Landscape of Venture Capital

When asked about the future of venture capital, Keara shared her insights on how the industry is likely to evolve over the next two years:

• Specialization: A shift towards more specialized funds focusing on specific sectors, such as diagnostics and biotech.
• Collaboration: Increased cooperation between venture capitalists, private equity funds, and investment bankers to support portfolio companies better.
• Diverse Funding Options: A need for venture funds to explore alternative financial instruments, such as debt, to avoid excessive dilution for founders.

Best Practices for Women in Leadership

Keara emphasized the importance of women supporting women in leadership roles. Here are her key recommendations:

• Check-in on Each Other: Simple questions like "How are you doing today?" can foster collaboration and support.
• Be Honest: Sharing your true status can lead to more powerful collaborations.

The Importance of Understanding Capital Structures

Keara highlighted that founders seeking venture capital should understand the balance sheets and where the money comes from. She pointed out that:

• Venture funds are not just sitting on capital: They have responsibilities to their investors and must adhere to specific criteria.
• Founders should do their homework: Understanding the fund's investment thesis can save time and effort in the fundraising process.

Looking Ahead

As we wrapped up our conversation, Keara expressed excitement about the future of venture capital, particularly regarding:

• Robotics and AI: The potential for innovation in these fields is significant, and Keara is eager to see how they will evolve.
• Collaboration and Inclusion: Keara believes that fostering a more inclusive environment will lead to more robust and sustainable business practices.

Conclusion

Keara Sauber's insights provide a valuable perspective on the evolving landscape of venture capital, particularly for women in the industry. By focusing on collaboration, understanding capital structures, and supporting female founders, we can pave the way for a more inclusive and innovative future.

For more insights, make sure to listen to the full episode on the Female VC Lab Podcast. You can also connect with Keara on LinkedIn to stay updated on her journey and insights in the venture capital space.

Episode Highlights with Kt McBratney

Welcome back to the Female VC Lab Podcast! In this episode, we had the pleasure of speaking with Kt McBratney, a partner at Renew Venture Capital and the driving force behind Purpose Rounds. Kt shared her inspiring journey into the world of venture capital, her investment thesis, and her vision for the future of the industry.

From Journalism to Venture Capital

Kt path to becoming a venture capitalist was anything but conventional. Here are some key takeaways from her journey:

• Background: Kt began her career in journalism before transitioning to marketing for stability and health insurance.
• Founder's Perspective: After operating her own startup, she sought a new opportunity where she could make an impact, leading her to Renew Venture Capital.
• Community Focus: Kt emphasized the importance of true community connections over superficial networking, highlighting how community can serve as the connective tissue of a purpose-driven venture firm.

Investment Thesis

Kt investment philosophy is rooted in supporting impactful founders and historically overlooked groups:

• Impact Founders: Renew Venture Capital backs companies that aim to make a positive impact across various sectors.
• Women and Underrepresented Founders: A significant part of their thesis is dedicated to supporting women and founders from historically excluded backgrounds.

Kt articulated the critical intersectionality of these two focuses, noting that:

• Business Case: Companies led by diverse founders often demonstrate higher revenue and capital efficiency.
• Addressing Inequities: The venture capital landscape has a long way to go in addressing the systemic exclusion of diverse founders, and Katie is determined to be part of the solution.

Challenging Ineffective Systems

Kt discussed the need to confront and change exclusionary systems within the venture capital industry:

• Dual Mission: Renew Venture Capital aims to produce financial returns (alpha) while also challenging and changing ineffective systems.
• Critical Questions: She emphasized the importance of asking "why" and interrogating established norms in the industry.

Current Learning and Reading

Kt is an avid reader and lifelong learner. Recently, she has been diving into:

• Books: Currently reading Worn, which explores the history of textiles and their connection to economics and culture.
• Learning Approach: Kt believes in continually questioning and digging deeper into topics, challenging assumptions, and seeking a broader understanding of systems at play.

Future of Venture Capital

Looking ahead, Kt envisions a more inclusive and innovative venture capital landscape:

• Societal Alignment: More capital will be directed toward addressing societal challenges.
• Diverse Representation: The industry will see greater representation in decision-making roles, driven by the values of the upcoming generations.
• Innovation in VC: Venture capitalists will need to innovate alongside their portfolio companies, fostering a culture of growth and adaptation.

Connect with Kt

Kt is eager to connect with like-minded individuals. Here’s how you can reach her:

• LinkedIn: Connect with Kt McBratney
• Renew Venture Capital: Learn more about their work at renewvc.com
• Purpose Rounds: Explore equity crowdfunding opportunities at purposerounds.com

Thank you for joining us for this insightful episode featuring Kt McBratney! Stay tuned for more conversations that inspire change in the venture capital landscape.

Show Notes: Episode E104 - Anne Gherini - SIERRA Ventures

Episode Summary:
In this enlightening episode of Female VC Lab, our host Barbara Bickham sits down with Anne Gherini, the CMO at Sierra Ventures, an early-stage VC firm focusing on the future of enterprise. Anne reveals her journey from being an operator to a venture capitalist, the dynamic role she plays in Sierra Ventures, and her investment thesis centered around B2B SaaS. She also shares her insights on the rapid changes in the venture capital world and the significance of go-to-market strategies.

Key Topics Discussed:
- Anne Gherini's career transition from operator to venture capitalist
- Detailed breakdown of Anne's role as a CMO at Sierra Ventures
- Sierra Ventures’ investment thesis focused on early-stage B2B SaaS companies
- Importance of building a technical moat and go-to-market strategies
- Anne’s recommendations on reading and continuously learning about health and longevity

Fun Facts:
1. Diverse Portfolio: Sierra Ventures invests almost exclusively in B2B software but has delved into deep tech sectors like quantum computing and Vertex AI.
2. Passion for Optimization: Anne is enthusiastic about optimizing not only businesses and campaigns but also personal health and longevity, inspired by Peter Attia's book "Outlive."
3. Constant Learning: Besides sitting on investment teams and helping build campaigns, Anne enjoys the continuous learning aspect of venture capital, finding excitement in the pace of advancements in technology and startup solutions.

Contact Information:
- Anne Gherini on LinkedIn
- Anne Gherini on Twitter (X): @AnnieG
- Sierra Ventures Website

Thanks for Listening! Thank you for tuning in to this episode of Female VC Lab. Be sure to subscribe and leave us a review if you enjoyed the episode. Stay tuned for more inspiring stories from female venture capitalists around the world!

Show Notes: Female VC Lab Podcast

Episode: E103 - Katie Quilligan of BankTech Ventures

Host:

- Barbara Bickham

Guest:

- Katie Quilligan, Investor at BankTech Ventures

Episode Summary:

In this insightful episode, Barbara Bickham chats with Katie Quilligan, an investor at BankTech Ventures. Katie shares her journey from the operator side at American Express to becoming a venture capitalist, driven by her passion for supporting women entrepreneurs and bridging the funding gap. She discusses BankTech Ventures' strategic focus on aiding community banks by providing innovative fintech solutions to improve their efficiency and competitiveness. Katie delves into the current trends and challenges in the banking industry, especially the integration of AI and the importance of balancing innovation with regulatory compliance.

Key Points:

1. Journey to Venture Capital: Katie transitioned from a career in operations at American Express to venture capital to help women entrepreneurs secure funding.

2. BankTech Ventures’ Thesis: The fund aims to bridge traditional community banking with modern fintech solutions by acting as an R&D arm for over 100 community banks.

3. AI in Banking: Katie discusses the growing role of AI in banking, emphasizing its potential to streamline both front and back-office operations while navigating regulatory challenges.

Fun Facts:

1. Katie's first venture capital experience was with Petra Griffith at Wedbush Ventures in LA.

2. Community banks are responsible for over 60% of small business loans and more than 80% of agricultural loans in the U.S.

3. Katie likens the role of AI in banks to that of an intern, aiding in tasks but still requiring human oversight.

Contact Information:

- Katie Quilligan: LinkedIn or via email at katie@banktechventures.com

Podcast Links:

- Female VC Lab Podcast Website

Follow Us:

- Instagram: @FemaleVCLab

Tune in for more inspiring stories and insights from leading women in venture capital!

Keri Findley,  is the founder of Tacora Capital,  an Austin, Texas based firm which does asset-backed private credit to venture-owned companies. Providing loans to youngish companies is an important part of the VC ecosystem, and Keri takes pride in helping young entrepreneurs grow their startups.

Corinne Bortniker is a Director at Cohen Circle where she supports SPAC deal execution and venture capital investments. Previously, Corinne was a Vice President at Wells Fargo Securities, focused on Technology, Media, and Telecom Equity Capital Markets. She has extensive experience executing equity capital markets transactions, raising proceeds for public and private companies. Prior to Wells Fargo Securities, she was an Equity Capital Markets analyst at Cowen Inc. Corinne holds a B.A. in Business and Psychology from Brandeis University.

Mary Ellen Iskenderian is President and CEO of Women’s World Banking, the global nonprofit devoted to giving more low-income women access to the financial tools and resources they need to achieve security and prosperity. Ms. Iskenderian has led the Women’s World Banking global team, based in New York, since 2006 and also serves on the Investment Committees of its two impact investment funds.

Previously, Ms. Iskenderian worked at the International Finance Corporation, the private sector arm of the World Bank, and the investment bank Lehman Brothers. Ms. Iskenderian is a permanent member of the Council on Foreign Relations, as well as a member of the Women’s Forum of New York and the UN’s Business and Sustainable Development Commission. She
serves as a Director on the Board of the William and Flora Hewlett Foundation.

Ms. Iskenderian holds an MBA from the Yale School of Management and a Bachelor of Science in International Economics from Georgetown University’s School of Foreign Service. Recently, she was recognized in the Forbes 50 over 50: Investment list, which highlights female investors and financial leaders. Her first book, There’s Nothing Micro About a Billion Women: Making Finance Work for Women, was published by MIT Press in April 2022.