After two weeks of intense coursework, six guest lectures, 32 investment thesis presentations, and a mind-boggling amount of coffee, another successful VC Unlocked Program with the Stanford Center for Professional Development is officially a wrap.
With over 200 applicants, this was our most competitive application process yet. We’ve covered the amazing diversity and background of the class in a previous post, but suffice to say that we had several contenders for The Most Interesting Woman (and Man) in the World.
Now that we’ve had some time to catch up on some sleep (and email), we’ll recap a few of the many highlights from the latest installment of our flagship educational program.
Setting the framework
“Whether they’re new to angel investing or an experienced practitioner, we want participants to come away from VC Unlocked with an insider’s perspective on Silicon Valley investing. It’s about empowering participants with better resources and insights that they can apply to their investing back home,” said Bedy Yang, managing partner at 500 and the mastermind behind VC Unlocked.
That thinking is reflected in the structure of the curriculum. The first week was grounded in academic theory and VC fundamentals. Stanford University faculty and 500 partners covered topics including building an investment thesis, VC structure and returns, attracting deal flow, opportunity assessment, and how to raise a fund.
“The beginning of the course provides a theoretical foundation for the practice of venture capital investing,” said Michael Lepech, Associate Professor at Stanford University.
Prominent VCs joined our afternoon sessions throughout the week for candid discussions. Marlon Nichols discussed his investment approach at Cross Culture Ventures and experience as a Kauffman fellow. SoftTech’s Andy McCoughlin shared 12 lessons from 12 years of investing, including “beware the quick pass.”
Renata Quintini of Lux, a member of Forbes’ Midas Brink list, talked about her path across the table from the Stanford Endowment fund to frontier investing, and how her experience as a karate champ shaped her approach to business.
Finally, Capria’s Will Poole wrapped up the first week with a prediction that “impact investing will become a strategy employed by all investors.”
Credit: Paula Barrientos
Applying Concepts
During week two, participants applied those concepts with more practical, action-based exercises and in-depth lectures.
As always, one of the highlights of the program was our visit to 500’s DemoDay in Mountain View, where participants got a front-row look at our Batch 22 accelerator companies. During an investment committee simulation with 500 partners, participants also got the chance to meet a few of those startups and drill down on their businesses.
In-class case studies on valuations and M&A, where participants split into groups and simulated both sides of an acquisition offer, were two of the most fun and interactive sessions.
This year also included a trip down Sand Hill Road to visit the Andreesen-Horowitz office and learn more about their investment approach from investment partner, Li Jin.
Angel investor and one-man Shark Tank, Jason Calacanis, joined for his infamous “founder interviews” session.
Rick Marini of Dragonfly Partners talked about war stories from angel investing and the importance of finding a path to Series A. Lightspeed’s Jeremy Liew spoke about consumer tech trends and rubbing elbows with Will.i.am and Gwyneth Paltrow on the set of Planet of the Apps.
The course culminated in participants’ investment thesis presentations, honed after two weeks of coursework. It was a great opportunity for participants to incorporate feedback from faculty and fellow peers and stress-test their latest thinking. 78% of the class said their investment thesis had changed over the course of the program.
Testimonials
“VC Unlocked is an insider’s guide to an asset class filled with mystery and risk. I feel more confident and informed about my decision making process after this rigorous two weeks. Thank you 500 Startups & Stanford!”
- Vivek Shah, Equanimity Ventures LLP
“The most important thing in venture capital is your network. The people I met in the program – classmates, instructors, 500 team – are amazing. They’ll be professional contacts and personal friends forever, which is truly invaluable.”
- Jules Miller, LunaCap
Applications for Next Year
Interested in attending the next VC Unlocked program?
Join our email list to stay updated on the latest news. We’re finalizing exact dates for next year and will let you know as soon as it’s official.
