Minnie Ingersoll
Minnie Ingersoll is a partner at TenOneTen and host of the LA Venture podcast. Prior to TenOneTen, Minnie was the COO and co-founder of $100M+ Shift.com, an online marketplace for used cars. Minnie started her career as an early product manager at Google. Minnie studied Computer Science at Stanford and has an MBA from HBS. She recently moved back to L.A. after 20+ years in the Bay Area and is excited to be a part of the growing tech ecosystem of Southern California. In her space time, Minnie surfs baby waves and raises baby people.
On this week's episode of the L.A. Venture podcast, meet the one, the only, David Waxman! He's the co-founder and managing partner at the fund I work for, TenOneTen Ventures. There are few L.A. funds that have as much operational experience building and scaling large-scale companies. David talks about lessons learned building three startups, going through an IPO, a litigious board member and a couple of decades in startups. David also talks about why he thinks TenOneTen lives up to its reputation for being the "nice and nerdy" L.A. fund.
<h4>Key Takeaways:</h4><ul class="ee-ul"><li>TenOneTen rounds are generally in the $2 to $2.5 million range. It has a predilection for early-stage companies.</li><li>David's first company was Firefly, which recommended music based on the idea of collaborative filtering. This endeavor also intersected with online privacy because so much user data was collected. Microsoft eventually acquired the company. </li><li>David went on to start two more companies with one of his co-founders, Nick Grouf, who he met on a plane. People PC was founded to get people easy access to the internet when it was tough to do. Then came SpotRunner which was an L.A.-based tech company that worked to change the way advertising was created, planned, bought and sold. </li><li>David says he and Grouf had a harmonious partnership because they had tremendous respect for one another and had complimentary skill sets.</li><li>David says SpotRunner met its demise due to a litigious investor, Martin Sorrell of WPP, who sued the company during the economic meltdown of 2008. </li><li>After such a troubling experience, David started getting into angel investing and advising. He liked it so much, he partnered to turn what was more or less a hobby into a profession.</li><li>David recognizes the enormous and difficult problem health tech attempts to solve, but sees it as an exciting space because it's so important. One example is the value of telemedicine, which, due to COVID, has changed the way care is given.</li></ul><blockquote><strong></strong>"There's this market of founders building great things, and we want to provide what they need right now, like nice techie investors who will lead a round in L.A. That's a hole in the market. And founders really need that, and we can give it to them."<em> — David Waxman</em></blockquote><p>
<strong>David Waxman </strong>has nearly two decades of experience as a technology entrepreneur. After graduating with a masters degree from MIT's Media Lab, he co-founded Firefly, PeoplePC and SpotRunner. Since leaving SpotRunner, David has dedicated his time to helping entrepreneurs realize their goals. He is an active mentor, speaker and investor. David lives in L.A. with his wife, three daughters and a ludicrous number of pets.<br>
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On this week's episode of the L.A. Venture podcast, meet Megan Guy, co-founder and partner at King River Capital, an L.A.-based fund investing in Series A, B and C Series companies. They're investing out of a $100M Fund II. Guy shares how they leverage their LPs for significant co-investment.
<h2>Key Takeaways:</h2><ul class="ee-ul">
<li>King River has investments in AI, fintech, healthcare and digital health.</li><li>Guy said she's excited by the readiness of the energy and clean tech hardware that's been built over many years to now allow for the application and consumer layer.</li>
<li>While climate mitigation innovation is important to Guy, she sees lots of possibilities in the technology and product development around climate adaptation — that is, technology that help people adapt to climate change.</li>
<li>Her experience raising funds for King River right as COVID hit has given Guy much more empathy for entrepreneurs.</li>
<li>Coming from banking, Guy had learn how to feel comfortable promoting her fund, her companies and herself. The banking environment lent itself to lots of confidentiality and discretion.</li>
<li>King River Capital has a co-invest program and can move pretty quickly because they're working with individuals who rely heavily on their diligence.</li>
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<strong></strong>"It's awesome to see these really great minds applying a lot of what we've seen work in the software space now to some of these big global problems." — Megan Guy<em></em>
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<strong>Megan Guy's </strong>career has spanned both the public and private sectors. She previously held various leadership roles in conservation investing and corporate engagement at The Nature Conservancy (the world's largest environmental nonprofit) and at Angeleno Group, where she led venture and growth equity investments across sectors including energy finance, storage, distributed generation and telematics. She began her career at Goldman Sachs, where she worked as an investment banker in New York and Sydney and subsequently co-founded and launched the firm's global environmental markets and strategy group. <br>
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On this week's episode of the L.A. Venture podcast, meet Jamie Montgomery, co-founder and managing partner at March Capital. He shares how he's built such strong relationships, how he's delivered outsized returns for March Capital, his approach to philanthropy and his high school fire extinguisher business.
For more, tune in March 3rd and 4th to the 18th annual Montgomery Summit.
<h2>Key Takeaways:</h2><ul class="ee-ul"><li>After Montogmery finished his masters at Cambridge, he worked for the Pentagon during the Reagan administration.</li><li>He returned to L.A. and started up his own firm in 1986. </li><li>In the early 90s, the firm, which had been focused on defense, pivoted to communications and what would become the internet. As it scaled, the firm sold banking and kept the investment side, which ultimately turned into March Capital.</li><li>His firm, Montgomery & Co., was extremely profitable, but in 2008 got hammered by the financial crisis and lost about 85% of business. This experience led to the creation of March Capital.</li><li>March Capital invests about $20 to $25 million on average per company.</li><li>March Capital's philanthropy efforts focus on community-building, incluiding addressing homelessness, community health and youth programs.</li></ul><p><strong>Jamie Montgomery </strong>is the co-founder and managing partner at March Capital. Prior to that, he was the founder and CEO of Montgomery & Co., a well-known Los Angeles-based investment bank where he advised and financed hundreds of leading technology companies over a 25-year period. He is also the founder of the Montgomery Summit, an annual technology conference that attracts over 1,000 global entrepreneurs, investors and corporate executives to Santa Monica.<br></p>
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