In this episode, Adrian Mendoza, co-founder of Mendoza Ventures, shares his journey from getting started in web design in the early 90s, to founding startups, and eventually transitioning into venture capital. He details his career progression, his experiences in the tech and design intersection, and his work at companies like Disney and startups during the dot-com boom. Adrian delves into the firm's focus on AI, fintech, and cybersecurity, emphasizing the importance of investing in sectors they know well. He also touches on the challenges and strategies of raising a fund, the importance of a strong network, thematic focus, and the unique approach of supporting diverse and underrepresented founders. Additionally, they discuss the current and future landscape of AI startups, focusing on the challenges and opportunities in the sector. Adrian provides insights into how Mendoza Ventures supports both founders and LPs, fostering a community of investors and innovators.

 

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Founder Bio:

 

Adrian is the founder and General Partner at Mendoza Ventures which is both Latinx and woman-owned and the first Latinx-founded VC fund on the East Coast based in Boston. With 20 years of experience in building technology products and teams, Adrian is an experienced entrepreneur, operator, and veteran of the Boston startup ecosystem. Adrian founded Mendoza Ventures to take an in-depth-focused approach to venture capital, looking for founders who demonstrate domain expertise in one of his three focus areas across fintech, AI, and cybersecurity. Adrian prides himself on being a hands-on investor by setting up companies for success beyond just writing a check, creating strong funding syndicates, making customer introductions, and assisting with partnership conversations.

 

His firm Mendoza Ventures focuses on investments in Fintech, AI, and Cybersecurity, with diversity playing an important role in their investment decisions—about 90% of their portfolio consists of startups led by people of color, and women. Since its founding seven years ago, Mendoza Ventures has raised two funds and had four successful exits. The firm is currently raising its third fund, a $100M fintech fund anchored by Bank of America.

 

Time Stamps:

 

00:38 Adrian's Early Career and First Ventures

06:18 Transition from Founder to Investor

10:13 Investment Strategy and Success Stories

13:31 Engaging with Founders and Investors

18:21 Raising Fund 3 and Engaging LPs

28:36 Fund Size Considerations: Building and Managing a Fund

32:45 Challenges and Lessons in Fund Management

34:59 Understanding Pro Rata Rights

36:47 Investment Strategies at Mendoza Ventures

38:37 Scaling and Institutionalizing Startups

42:34 The Role of AI in Venture Capital

50:40 Distinction between AI native Startup and not Native AI Startups

54:31 Connecting with Mendoza Ventures

  

Resources

 

Company website: https://mendoza-ventures.com/

LinkedIn: https://www.linkedin.com/company/mendoza-ventures/

Twitter: https://x.com/MendozaVentures

 

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