Our guest, Carmen Palafox, is a seasoned venture capitalist. She is a Founding Partner at 2045 Ventures in Los Angeles and Venture Partner at How Women Invest. She is also a Partner at MiLA Capital.

Carmen was awarded the Rising Star Award from the Los Angeles Latino Chamber of Commerce. She was spotlighted by the NVCA as a Rising Star in VC and featured by LA Magazine as 1 of 13 of LA’s Powerful Women. 

Coming out of USC, Carmen was fortunate to land her first job at Dimensional Fund Advisors, where she scaled operations into LATAM, Canada, and Europe, going from $75 Billion AUM to $300 Billion AUM.

In this episode, Carmen shared her journey into venture capital, launching a fund, the challenges of women and underrepresented founders in the VC world, and what people can expect in the coming years despite the uncertainties in the industry.

Episode Quotes:

How Haas led her to venture capital

I went to Haas thinking that I'd get into social impact investing, and that was in 2011, when impact investing was a little earlier than it is today. At that time, there's a lot of talk around social impact bonds and pay for success, and that's where I was thinking my career would be headed. But, you know, one of the advantages of going to Haas was the career development group and just the support I got there and the freedom to really explore. And that exploration led me to venture.

The challenges that women and underrepresented founders face in the VC industry

As women, we don't want to think that our gender will hold us back. But there are systemic issues. There's bias that people may or may not be aware of. And I think one of the reasons women are successful when they do get funding is because they are capital constrained and do have to be more efficient. I mean, the same is true for underrepresented founders. You just don't know if there will be capital around the corner, so you are more judicious with what you have. And on the flip side, I think there need to be more capital allocators that are focused on outcomes, meaning, we want to see more women founders, we want to meet more women funders. And so, being focused on that as a primary driver to change the status quo. I think it's important to create more balance in an ecosystem. I think that should be our objective. It should be about balance. And I think we would solve a lot of these unintended consequences that we see as a result of the technology that's out there today if we were to bring more balance to the industry.

Opportunities for early-stage founders 

I think it's an epic time, both because of the reset but also the fact that we're coming out of Covid, and during Covid, people had a lot of time to evaluate how they were spending their time, where they were spending their time. And so, I think a lot of people, if they're able to, are prioritizing differently and potentially looking for areas where they can have the most impact in their careers, and where they can shift priorities to their families. I've seen or talked to a lot of startups that are able to attract talent because they have flexibility in how they're going to manage building their company. If you can offer someone with technical talent the ability to work off hours or work remotely from wherever they want, then I think you have an opportunity there as an early-stage founder.

Show Links:

• LinkedIn Profile
• 2045 Capital
• How Women Invest
• MiLA Capital (Make in LA)

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