VC Renata Quintini Reveals Her Firm’s New Fund And Why She Doesn’t Aspire To $1 Billion In AUM

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Forbes

Business, Entrepreneurship, News, Business News

4.8 • 6 Ratings

🗓️ 4 May 2024

⏱️ 30 minutes

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Summary

In 2023, female-owned venture capital firms received just 3% of the total $107 billion raised across venture firms worldwide, up from 2% in 2022. It is within this environment that Renata Quintini, cofounder and managing director of Renegade Partners, is announcing the close of a fresh $128 million in dry powder. The close of Fund II brings her firm’s total assets under management to $228 million, a size Quintini believes is a “Goldilocks” fit for the work she and cofounder Roseanne Wincek want to do. “If you’re managing a billion dollars, the math works against you,” she said during a sitdown interview at the Forbes studio. “At our fund size, we can write checks for $10 million, or in some cases have single digit percentage ownership that makes sense for our fund math… I’d much rather own a bite of a watermelon than the whole grape. Let’s optimize for opportunities to say yes to great founders.” Quintini also dished on what aspiring founders—of companies and venture firms alike—need to know about operating in 2024. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Hi everyone. I'm Maggie McGrath, the editor of Forbes Women, and today we are joined by Renata Quintini.
0:08.8	She is the co-founder and managing director of Renegade Partners.
0:13.0	It's a venture capital firm and they have some news that they're sharing with us today.
0:17.0	Renata, thank you so much for coming to our studio.
0:19.0	Thanks for having me maybe.
0:20.0	Let's dive right in.
0:21.0	We'll get to your entrepreneurial journey, but you have news that you are
0:24.0	announcing through Renegade. What is this news? I'm very thrilled to share that we just
0:27.8	close our second fund at $128 million to back technology companies mostly at Series A.
0:36.0	And this brings your total A-U-M to $220 million.
0:39.6	You have a co-founder, so you are a women founded women-owned firm.
0:45.0	That's correct.
0:46.2	Talk to me about the environment you found
0:49.0	while raising this fund.
0:50.6	There are a lot of reports about how difficult 2023 was for founders of startups
0:56.6	and founders of venture capital firms alike.
0:59.1	Yeah.
1:00.1	Yeah, so I mean we're raising our second fund.
1:04.0	Actually, Fund One, we were very lucky that we have a lot of institutional
1:08.0	LPs, endowments, foundations, Ivy Leagues, things like that.
1:12.0	So we thought, okay, these are long-term investors and
1:14.8	that's going to make our fundraising for a fund too easier. But then with the
	...

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