Ross Matican

Want a front-row seat to the frontier of tech? We’ve got the role (or two) for you! We’re expanding our frontier-tech team at Blackbird by hiring a Frontier Tech Investments Associate and Foundry Fellows! Got questions? We've got answers... 1️⃣ What are the roles? 🧪 Associate = a full-time VC investment gig in our Blackbird Investments team, working directly with me. We’re looking for someone with a science and/or engineering background and more curiosity than they can handle. You’ll grow your own investment brand and practice, support our portfolio founders, and will help build Foundry, our early-stage frontier-tech accelerator. ✨ Foundry Fellow = a casual/contract gig in our Blackbird Investments team, ~15h per week for 3 months. The Fellowship is ideal for PhD students and ECRs who want to learn more about startups and VC. You’ll go deep on emerging areas relevant to your expertise (or curiosity!), get a front-row seat to groundbreaking companies in those areas, build out your non-academic network, and develop a solid writing practice. 2️⃣ Why are you hiring? We love frontier tech, and we’re ready to grow our team. 3️⃣ Wow, it’s so great that you’re starting to look at deep tech! Look, we get it: we don’t make a lot of noise about our frontier tech investing. Buuuut we’ve been deep-tech investors since we backed Tim Kentley-Klay to found Zoox back in 2014—we’ve been on incredible journeys with PsiQuantum (building the world's first utility-scale quantum computer right here in Australia!), Inventia Life Science (transforming drug discovery with high-fidelity cell models), Remedy Robotics (surgical robots for remote endovascular procedures), Opto Biosystems (minimally-invasive neural implants to treat cancer), and more. We believe that frontier technologies, and great frontier-tech investing, will be part of the solutions to the greatest problems humanity faces today. 4️⃣ When do applications close? May 31st at 11:59pm AEST. 5️⃣ I have more questions! I’m sure you do! Clare Birch and I are hosting an AMA to answer any and all questions about these roles. Want to know what a week in the life of our team looks like? What’s keeping us up at night? What our ideal candidate looks like? Come along and find out - registration link in the comments 👇 Apply for these roles: Associate - https://lnkd.in/gCfj4EUJ Foundry Fellowships - https://lnkd.in/gj6ATZVZ If you know anyone that we should meet, send me their details! Cameron Elise Ben Andrew Robin Joseph Adelaide James Olivia Lucinda Raghav Jesse Christie Mohamed Tom Amee Pablo Haya Loong Hon Joshua Benjamin Megan Harry Denzil Matthew Diana Daniel Tom Deanna Justin Amar Lilly Stone Thomas

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Team San Diego! I though you may find this as surprising as I did...we are not alone. Read this quick article from Jon Prentice's (Silicon Valley Bank) interview with with James Newell (Voyager Capital), published in GeekWire on Seattle's innovation ecosystem....they lament the SAME issues as we do in San Diego: * Lack of angel investors, (Especially, it calls out, given the local giant tech co's) * "We need low-conviction check writers." * Lack of "cachet associated with being an angel investor" - We have similar efforts (as described in the article) to drum up angel activity: NuFund Venture Group and, Interlock Capital (read the article and you'll see why the Interlock effort is tops as relates to "paying back into the ecosystem") Connect.org strives to 'connect' innovative companies with investors of all types (angel, VC, PE...) - just see "Innovation Day". Their Springboard program provides another great way for experienced entrepreneurs to give back through mentorship...as for the companies going through Springboard: "Ask for advice, and you often get $$" Your thoughts on the article or San Diego innovation ecosystem? https://lnkd.in/gfwq6mfq

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Summary: The article discusses Palantir's role in the growing defense tech startup sector and its efforts to become a driving force in the industry. The company's CTO, Shyam Sankar, is determined to help Palantir create a defense tech ecosystem and maximize its impact beyond its government contracts. Key takeaways: Sankar has initiated the First Breakfast program to provide guidance and tools to defense tech startups, aiming to secure a head start in the industry and identify potential "next Palantirs." Palantir has spawned a whole ecosystem in its wake, as evidenced by the success of former employees who have gone on to start their own successful defense tech companies. Sankar is driven by an existential fear of America's war-readiness and believes that more innovative and adaptable solutions are needed to ensure national security in the future. Counter arguments: Some may argue that Palantir's efforts to support and influence the defense tech industry could raise concerns about its potential for monopolizing the market. Critics may point out that Palantir's controversial partnerships with government agencies, especially ICE, raise ethical concerns and contradict its stated mission to protect Western values.

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Super helpful article and accompanying doc with a #Startup #Equity Calculator to determine the equity for early hires, thanks to Pear VC head of talent Matt Birnbaum! Thanks for sharing Pejman Nozad! 🙏🏼 You can read more here How to structure startup equity for early hires: https://lnkd.in/ggmpT5-Y Google Doc: https://lnkd.in/gjsvths6

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Seattle's startup scene is growing, but it’s clear we have some work to do. That was a main takeaway from our panel discussion last week featuring venture capitalists from top-tier firms including Brentt Baltimore of Greycroft, Victoria Treyger of Felicis, and Sunil Nagaraj of Ubiquity Ventures, moderated by Kirby Winfield. Their goal: analyze Seattle's startup landscape from an outsider’s perspective with active Seattle investments. They see a city rich in technical talent but with several missing pieces. Go-to-market strategies often lag behind technical capabilities; capital is available, but frequently from outside the region; and stronger community cohesion is needed to bridge incumbent tech leaders with founder types. I transcribed and edited our panel last week "Valley VCs 💗 Seattle Startups." https://lnkd.in/ggchXW4B

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We are excited to back EnFi, Inc in their first round of financing. They just came out of stealth and announced a $7.5 million raise from our good friends at Unusual Ventures, Boston Seed Capital, Argon Ventures and us at Impellent Ventures. Scott Weller spoke with me about his new idea around revolutionizing credit risk analysis through AI, begrudgingly bemoaning getting pulled back into yet another startup :) He and Josh knew there had to be a better way to get risk analyzed fast at the level of the enterprise after the great SVB failing occurred and left thousands of founders scrambling away from their multi-covenant loans. They needed to move their money but couldn't because other financial institutions still relied on a clunky, long process of assessing loan-worthiness. Enter Enfi. I asked him to invest. Scott was another one of those entrepreneurs we'd back no matter what they were doing. It took a while to get him and the indomitable Joshua Summers to make room for us. But they finally relented, because I'm annoying. Very, very annoying. Like a chihuahua with a kazoo, except worse. Ask anyone... EnFi’s platform is revolutionizing credit risk analysis, underwriting and portfolio management through advanced AI and real-time monitoring for complex credit instruments. Their innovative approach to Continual Risk Analysis provides institutional and private lenders with deeper insights and automation, enhancing decision-making and risk management. Congratulations to co-founders Joshua Summers and Scott Weller, and the entire EnFi team. We are proud to be part of your journey and look forward to your continued success! #Fintech #AI #Lending #CreditRiskManagement #Innovation

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I've seen countless startups stumble on regulatory strategy - it's painful, expensive, and often avoidable. The seminar shared by David Pudwill and Geetha Rao hosted by UCSF Innovation Ventures, absolutely nailed what matters most. Here are my key takeaways that every founder should know: 1. Understand your scope - this is where it all starts or stops You've got to nail this foundation: --Map out ALL potential clinical uses (yes, all of them) --Find your "regulatory siblings" (similar approved devices) --Get crystal clear on your impact level: 1)Wellness management (easiest route) 2)Screening/monitoring (middle ground) 3)Diagnostics/therapy (time to bring your A-game) 2. Pick your lane: regulatory pathways from "Easy" to "Buckle Up" Here's what you're looking at: --510(k) Exempt: The startup favorite (for good reason!) --510(k): Tried and true path --De Novo: The road less traveled (but sometimes necessary) --PMA: The regulatory marathon (pack your endurance) 3. Strategic roadmap: This part separates winners from the pack Smart execution is everything: --Start minimal, but make it smart --Grow strategically (think chess, not checkers) --Nail the execution sequence: Define → Design → Test → Produce → Sell Pro tips from the investor seat - know your audience and speak their language: --Investors need that solid IP story --Clinicians want real-world outcomes --Regulators love familiar territory (use it) --Claims strategy (this is crucial) Three rules to live by: --Start small (seriously, resist the temptation) --Expand methodically (no shortcuts) --Document everything (future you will thank you) Why this matters to investors - here's the bottom line: "Your regulatory strategy IS your market strategy. Plain and simple - you'll only get to sell what you get approved for. Plan accordingly." (Full credit goes to David and Geetha for sharing their invaluable insights)

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LAUNCHING A VC FIRM AS AN UNDERREPRESENTED MANAGER: COURAGEOUS, CRAZY, OR BOTH? 🤔 I read that only 2%-3% of all VC funds are led by Black General Partners (GPs). Maybe that’s why people keep calling me courageous for launching a VC firm as a new Black fund manager. Truthfully though, my whole life feels like one big exercise in doing the hardest $h!t imaginable. But here’s the thing: If you want to make a real dent in the universe, you can’t expect the path to be easy, right? For me, launching Kabila Ventures isn’t just about building a firm—it’s about leveling the playing field for overlooked founder teams worldwide. 🌎 It’s a calling, not a choice. So, to answer the question: Is it courageous? Maybe not. But I’ll admit... I’m definitely a little crazy. Here’s to the crazy ones—the ones who dare to do what others won’t. 🙌🏾 If you’re bold (or crazy) enough to consider launching your own VC firm as an underrepresented manager, check out my video for three tips to help you get started. Let’s build something that matters. 💪🏾 Together. Tally ho! 🤠 #VentureCapital #Entrepreneurship #DiversityInVC #VCtips #VC

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this is my favorite blog post in describing the process of pattern matching that VCs use to evaluate fund-returning opportunities: in search of narrative violations. a narrative violation is a contrarian take against conventional wisdom. it is an intentional disregard of the wisdom of the crowds in favor of ideas that are just crazy enough that they might work. the best venture deals have been ones where it wasn't an oversubscribed round; it didn't fall into the secular trends of the market cycle; it was an unpopular opinion that inadvertently led to category creation; and contributed a significant portion of DPI to LPs. all of these narrative violations seem to have 3 things in common: outlier founding teams, a positive inflection in market timing, and an ability to anticipate widespread product adoption in the mid-to-long-term time horizons since company inception. pls pls pls have a read - you won't regret it :)

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Summary: J2 Ventures, a firm led by U.S. military veterans, has raised a $150 million second fund to invest in startups whose products serve both civilians and the U.S. Department of Defense. The firm focuses on companies with technologies that benefit the health and well-being of military personnel. Key takeaways: J2's latest fund is more than double their debut fund, despite the struggles of many other emerging VC firms to raise second funds. The firm does not position itself as a defense tech investor and instead focuses on technologies that support the health and well-being of military personnel, historically adopted by the Department of Defense before civilians. J2's investments include healthcare, cybersecurity, and advanced computing startups, and its limited partners include JPMorgan and New Mexico State Investment Council. Counter arguments: Some may argue that J2's focus on companies serving both civilians and the Department of Defense could create conflicts of interest, as the two groups may have different priorities and needs. Some may view J2's investments in healthcare as too narrow of a focus, limiting potential growth opportunities in other industries.

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We took the pulse of emerging fund managers about what it's been like for them during these post-ZERP, venture-capital-winter years. #venturecapital #veteranventures

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Considering a career in startups or VC? Starting today, I'm available for 1:1 calls on @Intro to help startup founders and aspiring VCs think through the path ahead. As the founder + managing director of Red Sea Ventures, we invested early in companies like Allbirds (IPO), Sweetgreen (IPO), Nest (acq. Google), Casetext (acq. Thompson Reuters), and Prose to name a few. What topics can we cover? ✔️ Finding product-market fit ✔️ The different paths to funding ✔️ Determining how much you need to raise ✔️ Building a VC firm ✔️ Careers in VC ✔️ Celebrity partnerships Honored to be alongside world-class Experts like Chris DeWolfe (co-founder of MySpace (sold for $675M), Scott Saunders (founder of Happy Money, valued $1B+) & Geraldine Martin-Coppola (former President of Goop). I’ll be donating 100% of the proceeds to Seeds of Peace

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Summary: Harlem Capital, a venture capital firm focused on backing diverse founders, is raising its largest fund to date of $150 million. This would be its third fund and is a testament to the industry's continued support for diverse communities. Key takeaways: Harlem Capital was founded in 2015 with the goal of supporting diverse founders. The firm has $174 million in assets under management and has made investments in over 80 companies. The successful raising of the $150 million fund would be a show of success for both Harlem Capital and the industry's continued focus on diversity and inclusion. #venturecapital #vc #venture #diversity #dei

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Check out my recent post on why President Trump is the forcing function for us to solve the “Missing Middle” and catch the industrial Tsunami of onshoring coming to the US!

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I’ve aggregated a list of 50+ VC roles in one spreadsheet. It’s updated weekly and can be filtered by location, position, firm, etc. Check out the latest list here (as of June 24th) 👇 https://lnkd.in/dRC3XtjS Tag someone who needs this in the comments 💭 — Want a quick snapshot? Here are a few of my favorite postings: Associate, M12, Microsoft's Venture Fund Link: https://lnkd.in/eNFaaSBy Associate & Principal, Wischoff Ventures Link: https://lnkd.in/gu6Mun7p Consumer Investor, Stripes Link: https://lnkd.in/eZdRk6jV Venture Lead, Struck Studio Link: https://lnkd.in/exGcNHJ5 New Ventures Associate, Live Nation Entertainment Link: https://lnkd.in/e3mBYGCt — I’m creating more tools, guides, and other free resources for Junior VCs to (1) 2x their network and (2) carve their path to partner. If you found this helpful, check out the Venture House website for more 👇 https://venturehouse.xyz/ #venturecapital #startup #recruiting #hiring

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A SAFE and convertible note had a baby and Wilson Sonsini Goodrich & Rosati was the midwife- out popped the D-SAFE! 👶🏽🎉 A new #climatetech funding instrument was announced by Elemental Excelerator last week. One of the company’s main goals is to support smaller, up and coming companies during the awkward “Scale Gap” phase between #VC funding and natural growth. It’s called the #DSAFE (Development Simple Agreement for Future Equity) and it aims to aid the process by giving companies a small amount of cash to overcome initial risks and expenses during the developmental stages of a product launch or company. How does it work? D-SAFE has a redemption clause meaning companies can choose to have their payments offered as a loan or convert to equity at the investor’s discretion. Funders and companies will have clear communication and expectations about where the money is going and how it will be applied to either the company or the projects at hand. Financiers and companies will work together with more #transparency, and that’s a great boon for #startups and VC alike. As of this month, Elemental has already invested using D-SAFE in eight different companies, including Dimensional Energy and Origen — both companies investing in innovative and out-of-the-box solutions to environmental issues! Seems like a win-win on the surface. What do you all think about the D-SAFE? Alfredo Coppola Momoka Ueda Tim Wagner Stephen D. Torres Olya Irzak Natsuho Toyama Noriya Tarutani Shin Ogawa

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Seed VCs are turning to new ‘pro rata’ funds that help them compete with the big firms Alpha Partners, SignalRank and now SaaS Ventures help seed VCs pay for shares when big VCs try to price — or push — them out Lee Edwards, partner at Root VC, has a saying at his firm that “pro rata rights are earned, not given.” That may be a bit of a stretch since pro rata refers to a term that VCs put in their term sheets that gives them the right to buy more shares in a portfolio company during consequent funding rounds to maintain an ownership percentage and avoid dilution. Still, while these rights are not exactly “earned,” they can be expensive. One of the latest trends in VC investing these days are funds dedicated to helping seed VCs exercise their pro rata rights. https://lnkd.in/dRM3RvdA By Christine Hall

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Really interesting insight by Brad Zions of Pitbull Ventures this week in TechCrunch: "Having a good network of multistage firms is one of the ways Brad Zions, founder and general partner at Pitbull Ventures, helps his portfolio companies. 'It’s about knowing the firms that like to invest in particular sectors and then knowing some of the partners who are the right people to champion a project or a potential investment in a startup,' Zions said in an interview." https://lnkd.in/eqCJpgf2 Stu Pollard, Luke McDonough, Pablo Vidal Areán, Adeo Ressi, Mike S.

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