There's a shortage of women, non-binary people and men of color in the venture capital world. That's why Pipeline Angels, an angel investing bootcamp for underrepresented people in tech, has launched a VC-in-Residence program to help people from diverse backgrounds become managing or general partners at VC firms.
While there are some people of color in the VC world, it can be hard for associates to climb the ladder to become managing or general partners or for underrepresented people in tech to start their own funds, Pipeline Angels founder Natalia Oberti Noguera told me.
"Something I found, in terms of who is getting the funding to launch their own VC firms, it’s straight, cis white guys with friends and family," Oberti Noguera said. "It’s that early network."
That's where Pipeline Angels and its VC-in-Residence program comes in. By providing aspiring VCs access to its network of angel investors, those aspiring VCs may be in a better position to bring on limited partners.
Sydney Thomas, currently an investment associate and head of operations at Precursor Ventures, is the first to participate in the VC-in-Residence program. Thomas told me she joined because she wants to eventually become a venture partner at Precursor.
"A barrier between me and getting to that partner role is access to capital," Thomas said. "A lot of times, partners, what they have to bring to the table are not just deals but also prospective LPs."
Through Pipeline Angels, Thomas and other VCs in residence can facilitate connections with the over 200 and growing potential LPs from its angel investing bootcamps.
Next spring, Pipeline Angels plans to bring on three to five VCs in residence. The idea is to grow that number over time.