1210 – Diversity In Venture Capital with Mendoza Ventures’ Senofer Mendoza
In this episode of the Thoughtful Entrepreneur, your host Josh Elledge talks with the founder and General Partner of Mendoza Ventures, Senofer Mendoza.
Mendoza Ventures is on a mission to help underrepresented founders ‘write the check.’ Mendoza Ventures is an artificial intelligence, cybersecurity, and fintech venture capital firm. They’re based in Boston, MA but invest globally. Amazingly, 100% of their GP team are minority or female!
Senofer shares that she and her partner were founders who scaled and exited from more than one successful venture. However, they also saw the cracks and faults within the venture capital space. Senofer shares that there seems to be a lack of transparency between the people writing the checks and the internal teams of the startups. Mendoza Ventures started because Senofer and her business partner wanted to build a firm around the act of supporting a small business. This required a new level of transparency at all levels of venture capital. By operating this way, they’ve created actional support for founders so that they always have the help they need, no matter the circumstances.
Senofer shares that she loves her work and that she is passionate about dedicating her time to helping underrepresented entrepreneurs connect with investors who value transparency and effective communication.
Mendoza Ventures seeks to be at the forefront of inclusivity in the venture capital space. Their company is designed to be inclusive and has been from the beginning. Statistics show that diverse teams often outperform, Senofer explains. Senofer and her team set out to raise 10 million dollars during their second round of funding, and they were oversubscribed by another 4 million dollars. Much of this, she explains, is because they are at the forefront of diversity in venture capital. They are now being championed both on social media and by investors, who are happy to write the check.
Josh and Senofer stress the importance of pursuing a diverse workplace within your company. The statistics don’t lie; it will hurt your performance if this isn’t part of your core principles as a business. Bias can feel like a risk, Senofer says. You have to intentionally create an environment where everyone on your team can be heard. If you can inspire a diverse group of people to pursue the same cause, you have a strong cultural foundation that will boost your business’s performance. You have to be committed to pushing your team to grow in the same direction with the same goals, no matter what walk of life they come from.
Want to learn more? Check out Mendoza Ventures’ website at https://mendoza-ventures.com/.
Check out Mendoza Ventures at https://www.linkedin.com/company/mendoza-ventures/.
Check out Senofer Mendoza on LinkedIn at https://www.linkedin.com/in/senofermendoza/.
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