Capital formation, aka fundraising, is the unglamorous side of venture capital. Building a strategy and executing it is the reality for both emerging managers and established brands. Our guest today is Ashton Rosin, an Operating Partner and Head of Capital Formation at Lowercarbon Capital.
Ashton shares her amazing journey working in the non-profit and NGO space in Washington DC before making a complete 180 and joining the fast-paced world of hedge funds as an IR manager.
Ashton explains how her time working in investor relations at a hedge fund opened her eyes to how other asset classes were so far behind when it came to managing investor relationships and how the role at Lower Carbon came to be.
Lastly, we get some tips and tricks for other emerging managers struggling to raise capital and how narrowing down your target list of LPs when fundraising is a better approach than spraying and praying.
And John Ruffolo is back to dissect the week’s news.
About Ashton Rosin:
Ashton Rosin is an Operating Partner and the Head of Capital Formation at Lowercarbon Capital where she leads the firm's partnerships with existing and future investors.
Prior to Lowercarbon, Ashton was the Head of Investor Relations at Obvious Ventures where she led capital-raising efforts and built solutions for relationship management, including the ESG considerations of limited partners. She started her career in financial services leading investor relations at Clocktower Group, helping the firm to conceptualize and scale new offerings across the hedge fund and venture capital landscapes.
Before her financial services career, Ashton spent her time advocating for international disability rights through her academic, policy, and direct service pursuits around the world.
Ashton holds a BA in International Development and a minor in Disability Studies from UCLA.
In this episode, we discuss:
(1:22) Cohen and Ruffolo delve into Openview's unexpected pause in new investments and its potential causes.
(2:26) Exploring the impact of possible key man clauses and layoffs at Openview.
(4:10) Predictions about LPs' reactions to Openview's investment suspension.
(5:37) The implications for founders backed by Openview are questioned.
(7:18) Skepticism about Elon Musk's involvement in multiple businesses.
(10:32) Ruffolo shares his views on Bitcoin and Ethereum's roles in investment.
(14:00) Ashton recounts her journey from South Africa to the U.S. and her career shift to venture capital.
(19:31) Describing her role evolution at Clocktower Group and learning in asset management.
(25:10) Ashton discusses the significance of building strategic investor relationships in a climate-focused fund.
(30:15) Challenges faced by emerging managers in diversifying their investor base.
(36:49) The importance of personal branding for GPs in capital formation and engaging LPs.
(40:56) Strategies for maintaining communication with LPs during fundraising gaps.
(43:39) Insights on hiring a dedicated head of capital and the use of placement agents.
(48:46) Emphasizing research for targeting prospective LPs and the benefits of networking in capital formation.
Fast Favorites:
🎙- Favorite Podcast: My Climate Journey
📰- Favorite Newsletter / Blog: CTVC
📲- Favorite Tech Gadget: Kindle and Mill, which offers a unique composting solution, transforming compost into a white powder used for chicken feed
📈- Favorite New Trend: Climate and AI investing
📚- Favorite Book: The Unbearable Lightness of Being
🤔 - Favorite Life Lesson: Life is like a ladder, you can go up or down, but there’s always another rung above you to pull you up.
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Fundraising tips for GPs with Ashton Rosin of Lowercarbon Capital