Every spring, hundreds of platform professionals gather for three days of networking, workshopping and idea-swapping at the VC Platform Global Summit. This year’s summit drew in a record 600 attendees to Miami, with Katie Birge, VP of Platform, and Ruth Brungard, Platform Associate, in those ranks. With topics catering to teams of all kinds (big firms, small firms, generalists, highly specialized platformers) and a couple happy hours, the VC Platform Global Summit is our industry’s annual convening of the people laser-focused on the success of a firm’s portfolio companies. There’s nothing quite like the VC Platform community (now over 2,000 members!), and the VC Platform Global Summit is an event above the rest.
This year’s Summit offered specialized tracks for Community Building; Talent; BD, GTM & Strategic Partnerships; Ops & Tech Stack; Marketing & Comms as well as Investor Relations. As a two-person team focused on many areas of platform, we had a wealth of relevant sessions to choose from and highlighted some of the best takeaways. Many welcomed changes were put in place at this year’s event. Most of the sessions were discussion-driven where many had the opportunity to share thoughts on different topics and ask their burning questions.
Among the myriad of sessions available, Ruth zeroed in on “Building a Real Community Amongst Portfolio Founders” with Bryan Mason of True Ventures. The resounding message? Cultivating a robust community isn’t just about numbers; it’s about curating a unique and enriching experience for founders. In the world of early-stage startups, where resources can be scarce and teams are lean, the value of a supportive network cannot be overstated, especially as one of these startups’ first investors.
At M25, fostering community has been a cornerstone of our approach, where we welcome each and every founder in our portfolio to Club M25. Recognizing that founders thrive when surrounded by like-minded individuals, we’ve hosted events and have facilitated meetings and connections. Which leads us to, how can we continue to improve and grow our community without making founders feel overwhelmed or have a déjà vu moment? Many platform teams have continued to hone in on building community within their portfolio; however, it’s important to build something that is distinctive from all others. As platform continues to grow across the industry, so do those community initiatives and early-stage VCs have the advantage to lead the charge as many of these founders kick off their entrepreneurial journey.
But building community isn’t a one-size-fits-all endeavor. As we gleaned from the summit, it’s not merely about the CEO or founders; it’s about empowering every member of the team. One idea that was pitched in this session: organizing meetings tailored to specific job functions or industry segments, you can ensure that portfolio companies can connect authentically, leveraging each other’s expertise and experiences. Asking founders about any immediate needs in the next six months for an onboarding call is also a great starting point. It’s also essential to gauge the receptiveness of founders and tailor initiatives accordingly. Respect for founders’ preferences and needs is paramount; after all, a forced community yields little value. Instead, we strive to be as present and responsive as possible.
Katie spent some time in sessions catered towards platform strategy and dynamics within the firm as a whole as well as a few sessions specifically focused on talent. Some key takeaways: It’s as important as ever to foster great relationships with the people at your firms focused solely on the investing side, and it’s critical to keep them in-the-know about platform initiatives and overarching strategies. Along those lines, firms are starting to use the strength of their platform team in closing competitive deals — a trend we love to see!
Another topic Ruth explored was in the realm of communications readiness in a session led by Annie Shapiro of Inspired Capital. As a smaller VC firm ourselves, we understand the importance of providing hands-on support to portfolio companies, especially in navigating the complex landscape of media and public relations. Effective communication is key to amplifying a startup’s story and attracting both customers and investors. At M25, we do offer to help with any press release needs, as many of these early-stage startups don’t have the ability or resources to work with an agency for their needs. Helping to organize thoughts, draft a release and draw out a story from behind the scenes is a great starting point for the press release front.
The summit’s Marketing & Comms Lightning Talks further reinforced the significance of storytelling and personal branding in the venture capital arena. Insights from industry experts, like BAM’s Beck Bamberger and Bain Capital’s Allison Braley, underscored the power of sharing knowledge, insights and industry trends to not only build individual brands but also elevate the visibility of the VC firm as a whole. From crafting compelling press releases to building personal brands on platforms like LinkedIn, these insights will be extremely valuable to our team as plan for the coming months.
On the talent side, Katie co-led a lively roundtable discussion with Hyde Park Venture Partners’ Talent Partner Jim Conti called “Help! I’m being tasked with Talent and I don’t know where to start!” Firms are increasingly asking generalist platform teams (often one or two team members in total) to focus on talent, as portfolio companies are eager for help in that arena. While M25 has been developing our talent network and referral workflow for a few years, it was refreshing to spend time with teams of different sizes that have been doing this for a long time as well as those who’ve recently been asked to focus on talent.
In conclusion, the 2024 VC Platform Global Summit was a testament to the power of community in the VC ecosystem. As we reflect on our learnings, we’re more committed than ever to nurturing a thriving ecosystem where founders feel supported, connected and empowered. In an ever-evolving landscape, fostering a strong community is not just a strategy but a guiding principle towards collective success.
Looking for additional insight from the M25 Platform team? Check out these past blogs:
- 4 Considerations for your 2024 VC Platform Strategy
- What is ‘Platform’ in Venture Capital and why is it important?
- Rediscovering the Impact of Platform
About M25: M25 is an early-stage venture firm based in Chicago, investing solely in tech startups headquartered in the Midwest. Since launching in 2015, M25 has become one of the most active investor in the region, quickly becoming the preferred seed investor for the next generation of Midwest unicorns. Portfolio companies include Kin Insurance, Loop Returns, Astronomer, Summersalt, SteadyMD, Branch, Authenticx and more. For more information, please visit www.m25vc.com.
