What I learned as an Associate at a Venture Fund
My two-and-a-half-year participation in the Rebel Venture Fund ,?the University of Nevada Las Vegas ’ student-run venture capital group, has opened the doors for me to join with like-minded students and take part in real-life investment opportunities. First beginning as an intern then transitioning into an associate to the fund, through the support of the compassionate members I have become more knowledgeable within the entrepreneurial world.
What is RVF
The Rebel Venture Fund is “a venture capital group backed by the University of Nevada Las Vegas investing in students, startups, and entrepreneurs in Nevada and the greater southwest region of the United States".
Students from different backgrounds and areas of study join together in deciding which companies receive an investment. The decision process, known as due diligence, provides experience for students to conduct screenings, work within a team, and close deals. Students’ majors range from accounting to nutrition and their diverse perspectives offer insight unavailable to exclusively business majors.
Being a healthcare administration major, I value their inclusive efforts. The fund collaborates with “seasoned investors, venture capitalists, and entrepreneurial professionals". The parallel in the board’s diversity leads to investments with a higher probability of return.
The fund was made possible by a generous donation from Jeff Moskow, initially donating $500,000. After his donation, the fund has built a portfolio of companies including circlein , walls360 , KeyIn , EchoPay , Loupe , PerfectPoint , and more .
Along with the diversity in majors, the Rebel Venture Fund is located in one of the most diverse campuses in the United States and is home to over 30,000 students. This group, in specific, is comprised of students with similar ambitions, aspirations, and long-term vision accompanied by the motivation to continue along our growth journey. Working together in the squads responsible for due diligence, and observing the selfless students communicate with other people around the community during 'Venture Friday' events, we aim to help Las Vegas transform into an entrepreneurial hub. Through this, we hope to connect people to the resources that they need to succeed.
Courage: Interview Process
If you were interested in applying for the Rebel Venture Fund , I highly recommend taking a look!
When I first heard about this program through Scott Luk , a classmate of mine in the global entrepreneurship program , I immediately became intrigued. The application season had closed for the semester, but I patiently waited until the following season.
At the time, I was studying nursing. However, I had a feeling that entrepreneurship and leadership were the routes for me. This program would give me the chance to explore this, further.
After submitting my resume and waiting with my fingers crossed, I received a call back for an interview. Nervous, and in a suit that was probably too large, I sat across the table with the older class students (Matt , Rae , Tomas, Brian ) who had plenty of experience. What I didn’t know was how inclusive and supportive these upperclassmen were. Business professionals are typically seen as intimidating; nothing could be further from the truth.
Before getting to know the members with more depth, another funny instance occurred: they asked me what 'red flags' I should look for whenever screening companies for investment. My mind immediately went to a literal red flag, oh no. I am glad they saw potential.
Intentions before joining the Fund
Before going into the interview, I entered with purpose. Not only did I want to contribute, but learning was also a priority. There were three main things that excited me.?
The first was to learn more about what goes on behind the scenes in were venture capital firm.
Specifically, I was intrigued by what makes a successful investor pitch. I’ve watched 'Shark Tank' my whole life and it was one of my favorite TV shows, surprisingly, there are many parallels between the unpublished pitches.
An extremely large component of a successful pitch is a pitch deck. Here, entrepreneurs showcase their start-ups as a communication tool to investors. Board of directors, swat analysis, an overview of financials, mission and vision, the problem and solution, and other essential business points are shared.Reviewing countless pitch decks, professionally, has given me an eye for what works.
Last element of what goes on behind the scenes that I wanted to nail down what is the specific behavior entrepreneurs needed to succeed. Based on what I have previously had knowledge of, professionalism and a high level of competence were the only things that mattered. The successful entrepreneurs were actually a mix of both competent and warm personalities! Their charismatic nature allowed for clear communication and rapid rapport building.
My second learning intent was immersing in the language of business. During high school, my focus of the study was within the medical industry - studying nursing. Mid-sagittal, vital signs, femur, aorta we’re all words consistent with the medical vernacular. SWOT, B2B, exit strategy were not in my vocabulary yet. So, surrounding myself with people who spoke in this dialect would teach me important words for my future profession.?
The third learning intent is meeting like-minded university students. The University of Nevada Las Vegas is a commuter school, so the experience with socializing is quite different from schools where the majority of the students live on campus. After class is over, students drive home or to work outside of campus.
Involving in extracurricular activities is a fantastic opportunity to connect with other students. This group, specifically, is a concentration of other students who love creating and business. Additionally, as a freshman, I didn’t know many people yet. Most of my friends from high school pursued an education in a different state. Now, being in a group with students of similar passions, we collaborate toward a vision we all admire.
I am proud to say that all three learning objectives were met and exceeded! This organization has changed my life.
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Collaborate with Team Members
I got accepted! Super excited with the news, I hopped on board as an intern.
Our first meeting started with a pop-quiz from the education committee. This is the committee I would join down the road. The education committee focuses on spreading the knowledge base that fund members should know. Additionally, the education committee coordinates with guest speakers to share their insight if we are in need of more information on a particular company.
After submitting my pop-quiz, I was mentored by the senior fund members. Learning requires hands-on experience, in my opinion. The fund does a great job of this by providing interns with practice "due diligence" opportunities. The cohort of incoming interns is assigned a company to follow the existing trajectory of the process. After deciding on whether or not to pass the company to the next stage of the process, the interns must present to the rest of the fund.
I admit I was nervous to present to the rest of the fund. The fund’s reaction to our groups presentation was both supportive and uplifting and because we did well we were promoted to associates (How exciting)!
Because interning with the Rebel Venture Fund is cohort-based, there was a tight bond between myself and the other members within the group that presented. Due to the coordination from the education committee, I now had support from at least five other members who shared a similar journey. Working within a team is the ultimate icebreaker, especially when there is a presentation.
I hope that the people I have met through Rebel Venture Fund continue to be lifelong friends. Soon, I became introduced to all of the fund members and realized how awesome they are!
Investing
Through my experience within the fund, I’ve learned that investing incorporates both people and products.
After hearing many pitches and participating in the dude diligence process, I have learned to see that entrepreneurs are selfless. Successful entrepreneurs have a mindset of both creation and abundance. They exude an energy that showcases that the product that they are offering will serve a deeper meaning. These entrepreneurs are visionary.
Most of these entrepreneurs start their businesses with a deeper why- non-materialistic. A particular entrepreneur shared an origin story of creating a product after being inspired by the cancer diagnosis of a friend. She developed her product which would prevent other people from going through similar hardships of cancer, this was inspirational. Having a great story is one thing, but the investment is possible if there is proof of concept.
An entrepreneur must be organized, surrounded by a team of competent people, and be driven to succeed. If they are able to communicate their strengths, they will be successful. If they are creating something that will rapidly grow, then it might be a good fit. On top of the initial investment, knowing the potential for growth is also something we look for. If you would like to apply for funding, learn more here .
In the video , Emma C shares an amazing run-through of key terms and main elements investors keep an eye out for! This is a great resource for anyone who is interested in applying for funding.?
Venture Capital Experience
Gaining venture-capital experience has given me the chance to expand my entrepreneurial knowledge. In addition to learning directly from guest speakers and pitches, I have combined my learning with the tools provided digitally through virtual mentors .
I enjoy consistent learning and this organization has provided me room to do this! I believe that I have succeeded in learning more about entrepreneurship, venture capital, and the intricacies such as the due diligence process. The due diligence process is a method by which we use the screen potential investments. Below, I have included an outline of what that process looks like.
What Due Diligence looks like:
It's a Deal!
The responsibility of members within a venture fund is not to search for quick-money jackpots. Actually, from what I have seen, the responsibility carried by investors is to allocate the most effective use of resources with the focus of community growth. Improving daily living, advancing communities, and additional acts of courage demonstrated by entrepreneurs who are reputable in executing upon their visions is what guides a successful return to an investor’s contributions. Investors must be certain of what their values are and how a company will contribute while adapting to a futuristic environment. This requires clarity and confidence on how to think critically so the distribution of finances flows into the hands of selfless leaders.
Follow the fund's Instagram if you would like updates.
*The content shared is my opinion and reflection of what I learned within the group; investments vary based on updated factors and additional information which I did not disclose.