EP 27: How AVG Provides Access to More and Better Venture Capital Jobs

Luke Antal and Weston Moyer | Founder and VP of the Venture Fellow Program

AVG is disrupting the venture capital industry by giving individual investors access to the most competitive venture deals and by creating a career path for aspiring VCs.

Weston Moyer and Luke Antal

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Photo: Luke Antal, CMO and founder of AVG’s Venture Fellow Program (left), and Weston Moyer, VP of Fellow Program and Digital Outreach (right)

Episode Summary

The disruption that Alumni Ventures Group is causing in the venture capital industry is well-documented in other episodes of Founders & Funders and TechCrunch, among other major media. Until the firm came along in 2014, accredited investors had scant opportunity to add venture to their portfolios unless they could make very large investment minimums — in the ballpark of ~$10M. Now people can invest as little as $50K in a diversified portfolio across stage, sector, and geography, and alongside the top venture firms in the world — thanks to AVG.

AVG has also ignited a second, socially-empowered disruption: Providing an on-ramp to jobs for more women, people of color, economically disadvantaged, and LGBTQ business professionals in the notoriously white, upper-class, male-dominated venture capital ecosystem.

In addition to being a closed industry to diverse populations, venture is also a closed industry in general. Historically, a well-defined career path hasn’t existed — aspirants had to tunnel in on their own, through circuitous paths that took years to travel.

This shared pain point is what brought our guests, Luke Antal and Weston Moyer, to AVG in the first place. Eager to find a job in venture capital, Antal cold-called AVG once he found out about the newly-launched Green D Ventures, an alumni venture fund for Dartmouth alums, his alma mater. Moyer, who started at AVG as a Venture Fellow, took a similar tact after noticing a Facebook ad for Blue Ivy Ventures, AVG’s fund for Yale alums. Both took unconventional routes into VC jobs because a clear road wasn’t on offer.

This dynamic was in the back of Antal’s mind as he arrived at AVG, and he soon created a solution: AVG’s Venture Fellow Program.

“It’s a one-year program for early to mid-career professionals looking to sharpen their resume or get a foot in the door of venture capital,” explains Antal. He adds, “Ultimately, the Fellows are provided with the skills, experience, and network to excel their career trajectory or to make the jump into a full-time role.”

Since the program’s founding in 2014, more than 125 Fellows have participated in the twelve-month curriculum, which mixes venture education with hands-on experience — Fellows assist with everything from digital outreach to deal sourcing and more. Currently 75% of AVG Fellows come from under-represented backgrounds (female, non-binary, or non-white), and more than half of program graduates have transitioned to full-time work in the VC industry, either as investors or operators.

Listen to this episode for more on how the Venture Fellow Program started and for success stories of “graduates” who have gone on to full-time VC careers.

Click here to be notified when the Q1 2019 cohort application becomes available.



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