A strong network is crucial to achieving success in venture capital. VCs need to foster meaningful, trusting relationships among founders as well as their fellow investors and the wider startup community. These links open career doors, help VCs discover deals, and ensure firms get a seat at the most sought-after cap tables.
But for many, especially people new to the venture world and those from overlooked or underestimated backgrounds, the concept of building a network can be daunting. Women, those from minority ethnic backgrounds, and people from diverse socioeconomic brackets continue to be massively under-represented in VC. To some, this can make the world of venture feel like a place where they don’t necessarily belong.
Alongside this, VCs often rely on warm intros and pre-existing relationships to find roles and make deals. That means attending particular universities, having a degree from a top business school, or working on certain graduate schemes can give people a leg up when they join the sector – their network has already started to take shape.
But that doesn’t mean you can’t (or shouldn’t!) build a VC network from scratch. I entered the industry without an existing network, so know how challenging it can be. But I also know how valuable it can be. Here’s my advice on how to build a network from the ground up.
Find a community
There are numerous communities and programs available that can help you connect with others and enhance your skills. For example, At Newton, we offer both Fundamentals and Fellowship programs that allow participants to expand their network while gaining valuable knowledge. Additionally, initiatives like Baby VC and Included VC focus on supporting individuals who are underrepresented in the venture capital (VC) sector. Similarly, organizations like Women in VC and Colorintech host a variety of events, maintain active mailing lists, and offer Slack groups. Following various professionals from the VC ecosystem on LinkedIn is also a good way to stay informed about free events and webinars.
Reduce the nerves
You’ve joined the right mailing lists and seen a potentially useful event – now what? First things first, make sure you actually attend! It can be really easy to duck out of networking events last minute. Some figures suggest that as many as 50% of attendees don’t show up to events they’ve registered for. We can all feel awkward and nervous about attending them. But networking is a muscle – it won’t strengthen unless you flex it.
Before attending an event, reflect on your goals – are you hoping to meet at least one interesting person? Or gather at least one compelling insight that could form a LinkedIn post? Boil your objectives down into bite-sized goals to make events feel less pressured and increase the chances of feeling like you’ve ‘succeeded’ at them. Stay on top of industry news to help provide you with easy conversation starters. To ensure it’s not overwhelming, focus on one trend or sector – there’s no need to know everything!
Be Human
Too often, networking is seen as a transaction. Don’t make this mistake. Instead, view it as an investment in your career and an opportunity to better understand peers in the ecosystem. If your only goal is to get something from a new connection, it will come across in your interactions.
Lyubov Guk, an alumna who moved to the UK from Ukraine, shared during a recent event how she built her network by following a ‘give, give, give, ask’ philosophy. She emphasized the importance of helping others first, focusing on what she could offer rather than what she could gain. This method fosters authentic connections and develops a supportive, reciprocal network.
Being genuine, actively listening, and letting your personality shine are key to forming meaningful relationships. Another professional, Anisah Osman Britton, highlighted how listening played a crucial role in establishing her network, even as an 18-year-old with no prior connections in the field.
Balance online with face-to-face
Both online and in-person networking have their advantages. Online events give greater flexibility, with the lack of travel making them cheaper and less time-consuming. However, meeting people face-to-face is often still the best way to start forging connections. For some, being able to read body language, pick up on social cues and avoid dodgy wifi connections makes for more natural interactions. In-person events may also allow you to connect with more people at a time, crossing paths with those you otherwise might not get the chance to speak to. Finding a balance between the relative ease of online and the more natural feel of face-to-face opportunities will help you when building your network.
Stay close to founders
It goes without saying that getting on with founders is fundamental to succeeding in VC. Building strong relationships with those who you don’t invest in can be just as useful as staying close to the ones you do. Once you’ve connected with founders, stay in touch and let them know you’re thinking about them, even when you’re not directly working together. This can be as simple as sharing news on exciting developments you’ve seen in their industry, connecting them with potential investors, or checking in on projects you know they’ve been working on. Paying it forward pays itself back in spades.
Make the most of the network you create
It might seem scary, but networking is key to progressing in VC. Even when starting from scratch, you’ll soon find that your confidence grows as you begin to attend events and connect with peers across the industry. Above all, try to remember that you are there to add value, not just to gain from the knowledge and expertise of others.
And, once you’ve started to build connections and deepen your network, look around and see how you can help others build theirs. Make introductions for others, offer your time and advice, and take opportunities to invest in the community when they arise – this full circle approach is hugely rewarding and often leads to fresh connections and introductions coming back in your direction as a result. Collectively, we can all help enrich the sector whilst building out our own networks.
