Announcing The Venture Cooperative

Our first cohort launched in June 2021. If you are interested in participating in the third cohort (October 2022), please apply here by 9/18.

We are extremely excited to announce a new program that’s been in the works over the past few months: the Venture Cooperative.

As seed investors and entrepreneurs ourselves, we know that startups succeed thanks to the sweat, blood, and tears of the founders and the support of an army of believers. From first-check angel investors and early advisors to the founding employees, it often takes a village to even get a company to its seed round.

It is abundantly clear to us that founders’ access to supportive networks is not evenly distributed, especially with regard to capital. For every entrepreneur who easily raises a $3M seed round, there are hundreds of others who start their journeys without anyone in mind who could write a $25k angel check.

This disconnect exists not just for founders but also for aspiring investors. Though interest in startups and VC is at an all-time high and recent regulatory and technological developments have expanded opportunities for new investors, there are still structural barriers and knowledge gaps preventing individuals from taking the leap as LPs, GPs, and VC fund investors alike.

This idea of a “double long-tail” is one that we can’t get out of our heads: despite the absolute increase in venture dollars, the increasing consolidation of capital into fewer firms and later stages leaves a gaping hole for countless high-potential founders who don’t have immediate access to traditional networks and many aspiring investors with unique perspectives who can’t get hired by the same.

Over the past few years at Laconia, we’re proud to have made a dent on bridging these divides, and we have seen the power that transparency, collaboration, and community can have in expanding accessibility within our industry. From holding entirely open weekly office hours with 600+ founders over the past 4 years to hiring 25+ diverse interns (most of whom are now full-time VCs, founders, or startup employees), our biggest frustration is scale: what if hundreds of others dedicated a few hours per week to helping founders, no strings attached, and what if we could pull not just a handful but hundreds of people up the VC investing learning curve in a year?

This restlessness has propelled us to create The Venture Cooperative. The Venture Cooperative consists of a comprehensive educational program and an inclusive community that make Laconia’s investments, processes, and learnings accessible for the next generation of early stage investors. All cooperative participants will receive opportunities to financially share in our success, participate in our investment processes, collaborate with us on due diligence, hear perspectives from industry leaders, share their expertise within the community, and collaborate with early stage founders. Our hope is that the Venture Cooperative will unlock the untapped potential of the double long-tail, creating a more dynamic startup ecosystem of supporters for early stage companies, with empathy and integrity at the forefront.

Currently, there are two ways to participate in the Venture Cooperative: as Venture Fellows (VFs) or Venture Operators (VOs).

We designed our Venture Fellows track for those who are ready to find their footing in the dynamic early stage startup ecosystem, both within and — more importantly — beyond venture funds. We expect that this role is ideal for people who are in the first ten years of their careers and may not be ready to personally invest yet, though we are excited to meet anyone intrigued by this opportunity. In addition to seeing a uniquely up-close view of venture investing, VFs will explore alternative pathways to supporting startups across syndicates, accelerators, advisory/operating roles, alt-VCs, public equities, scout programs, crowdfunding, and more (see full program curriculum here). Membership in the cooperative is free, and VFs will also have participation opportunities in certain Laconia investments (similar to scout program mechanics). Our hope is that investment transparency, mentorship, and community engagement will encourage a new generation to find their own paths and build their own track records within the evolving startup ecosystem, because playing an entrepreneurial role should not require anyone’s approval or permission.

The Venture Operators track is geared toward experienced entrepreneurs, startup leaders, and executives who are ready to invest in early stage companies. VOs are welcome to the content and community events described above, and they receive one additional opportunity: an accessible and exceptionally collaborative VC fund investment vehicle, without the constraint of a minimum check size. A significant shortcoming of the venture asset class is its frequent rejection of smaller check investors, especially as franchises gain prominence and funds grow larger. But we know first-hand how powerful it is for founders and business experts to have incentive-aligned opportunities to collaborate, and we are excited to build a strong network around this program.

If this vision has resonated with you, you can read more in our FAQs and apply here. While some of the content from these programs will be shared entirely publicly, certain components are limited to program participants as per logistical constraints and confidentiality concerns. As with our startup pitch submissions and internship applications, we are excited to meet people outside our existing relationships for this program, too. If you’re interested in joining us, please remember that the Venture Cooperative is not an “in” into the venture/startup industry. The Venture Cooperative is your launchpad, and we cannot wait to see where you will land.

A program launched by Laconia