There’s a lot of talk about supporting underrepresented emerging managers and founders in the startup space, and it’s refreshing to speak with someone that’s moving beyond talk into action. Our guest today is Courtney McCrea, Co-Founder and Managing Partner of Recast Capital, a platform supporting and investing in emerging managers in VC. Recast is investing that emerging managers, particularly those with diverse partnerships, that represent both an underserved market and overlooked business opportunity, and is taking a new approach to meeting the need.
This was a great conversation where we talked about the state of the market, why diversity is more than just window dressing, as well as the challenges women and underrepresented GPs face in raising venture funds and how Recast Accelerate is making a difference.
Also John Ruffolo is back to talk tech headlines with Matt Cohen.
About Courtney McCrae:
Courtney is Co-Founder and Managing Partner of Recast Capital, an investment platform established to invest in and support emerging managers in venture capital, with a preference for diverse partnerships.
Prior to co-founding Recast, Courtney was a Managing Director of Weathergage Capital, a fund of funds that provided its clients with access to premier venture capital, growth equity, and micro-VC partnerships.
She also was involved in various private equity and finance roles at Weston Presidio, Silver Partners, Sterling Stamos, PPM America, and GE Capital.
Courtney has an M.B.A. from the Kellogg Graduate School of Management and a B.A. from the University of Illinois, Champaign-Urbana. She is a member of the Kauffman Fellows Class 3.
In this episode we discuss:
(01:13) News rundown with John Ruffolo
(18:38) Courtney McCrea’s journey to becoming an investor
(20:43) How Weathergauge supprt of emerging managers evolved
(22:07) Why emerging managers can outperform established managers
(24:06) The decision to launch Recast
(27:27) DEI stats for venture were and how is it starting to change
(29:50) Early successes for Recast
(32:10) How she evaluates potential managers
(34:17) Advice she gives to her managers
(36:10) What LPs are thinking about in the current market
(41:42) Explaining risk and mitigation to her LPs
(44:35) How the growth-quity landscape has evolved
(46:40) What type of reporting and communication she likes to see
(47:46) Advice to new investors looking to get into venture
(49:46) The best career advice she’s received
(50:43) What keeps Courtney motivated
Fast Favorites:
🎙- Favorite Podcast: Tank Talks
📰- Favorite Newsletter / Blog: Recast Newsletter
📲- Favorite Tech Gadget: iPhone
📈- Favorite New Trend: Technology disrupting legacy industries
📚- Favorite Book: Grit
🤔 - Favorite Life Lesson: Be your true self and the rest will come.
Follow Matt Cohen and Tank Talks here!
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