Kauffman Fellows

We all know the startup stages, from seed to Series B, and from Series B to IPO, but what's the equivalent for a fund to become a firm, and a firm to become a VC franchise? In our study, Zero to Four, we offer a more formal definition of the three stages of a VC firm lifecycle: 1. Emerging Firm: When fund size determines fund strategy 2. Established Firm: When fund strategy determines fund size 3. Franchise Firm: When a new generation takes over and consistently achieves returns similar to the previous stewards Read the full study and framework here: https://lnkd.in/ehtSVdMP

Why do some VC firms succeed while others fail? We found successful VC firms share five common traits. We explore these traits in depth in our study, Zero to Four: How VCs Evolve From Fund to Firm, and from Firm to Franchise. Read the full study here: https://lnkd.in/ehtSVdMP Featuring insights from Phil Wickham, Jeff Weinstein, Itxaso del Palacio, PhD, Mike McCauley, Staffan Helgesson, and more.

What does it take for a VC firm to go from a first fund to a lasting franchise? Through an extensive survey, 100+ hours of interviews, and data collection with Kauffman Fellows who have co-founded VC firms and are currently deploying Fund IV+, we uncovered the five traits enduring firms share.  Read the new study, Zero to Four: How VCs Evolve From Fund to Firm, and From Firm to Franchise, to understand what traits lead to a successful VC: https://lnkd.in/ehtSVdMP

Mamoon Hamid (KF 11), General Partner at Kleiner Perkins, joined us at KF Network Day in San Francisco to share his perspective on leadership in VC. The best nugget? His take on snacks! Mamoon shared that one of the first things he did at Kleiner Perkins was ask people about their favorite snacks and ensure they were stocked in the office. It was a small gesture. But that's the point. Leading a cultural transformation at a firm requires an obsession with every operational detail, which compounds into a cultural shift toward a bold strategic vision. His philosophy, and the cultural turnaround he led, were recently highlighted in Fortune: https://lnkd.in/g2eKqAFw

Congratulations to Kauffman Fellows Sierra Peterson (KF 26) and Sarah Sclarsic (KF 29), Founders of Voyager Ventures, for closing a $275 million Fund II. Learn more about the new fund featured in The Wall Street Journal here: https://lnkd.in/gSmsQptA

⏰ Last call: Applications for Kauffman Fellows Class 31 close this Friday, January 9, at 11:59 PM PT. The Kauffman Fellows experience doesn’t conclude after the two-year program. It opens the door to a lifelong, connected, global venture community. Here’s what that looked like in 2025 alone:  🤳 80%+ of 1,006 network Fellows actively engaged in the KF WhatsApp community, exchanging trusted advice in real time 🫱🏻🫲🏼 70+ official gatherings were held worldwide, from network days and international treks to virtual sessions and side events   👥 65% of network Fellows participated in at least one gathering during the year  📸 400+ photos shared by Fellows convening across the globe 👉 Learn more and apply here: https://lnkd.in/gTVnsR6n

Submit today: Early submission applications for Kauffman Fellows KF 31 are due today, Dec 12th (11:59 PM PT). The final deadline to apply is January 9th. Curious who else would be in the room? Here is a breakdown of recent class compositions: - 86% are direct venture capital investors, with 50% from emerging firms (Funds I-III), and 50% from established firms (Funds IV+) -  14% are LPs, CVCs, and other key ecosystem contributors -  72% held partner-level or higher positions -  43% are founders of their firms -  Median AUM ranges from $25M for Fund I to $1.3B for Funds IV+ But most importantly, this is a group of industry peers you can trust with the hard stuff: the unfiltered realities of life, leadership, and career. Learn more and apply here: https://lnkd.in/gTVnsR6n

Early submission applications for Kauffman Fellows Class 31 are due Dec 12, 2025! Why join Kauffman Fellows mid-career? Because venture capital is hard and more dynamic than ever: markets shift, playbooks break, and there’s no universal “right” way to win. Even with rich experience, strong networks, and firmly held convictions, leveling up and staying “on top” in VC requires continuous learning, adapting, and [re]defining what venture (and success) look like for you. That’s why today’s Kauffman Fellows start the program with a median of 6+ years of direct investing experience, ready to step away from the day-to-day and invest in deeper introspection. For 30 years, we’ve been curating a two-year experience where experts and peers openly share their successful (and failed) approaches, engage in real conversations with candid feedback, and support each other through firm, fund, and career inflection points. The result: a global, high-trust network of 1,000+ Fellows leading the future of venture capital. Learn more and apply here: https://lnkd.in/gTVnsR6n

In honor of our 30th Anniversary, we welcomed over 450 Kauffman Fellows - nearly half of the entire global network - to the London Summit 2025, marking the largest gathering of Kauffman Fellows to date. Connecting Fellows across classes and countries is a powerful reminder of what makes the network truly exceptional. The VC landscape has certainly evolved over the past three decades, and so has our role in it. Yet what Fellows describe as the most valuable, unreplicable, and enduring part of their experience remains unchanged: a trusted group of peers. Thank you to our Fellows for keeping Kauffman Confidential 30 years strong. We’re proud of the community you have built and the impact you have had on the venture capital industry, and more importantly, on one another. Special recognition and thanks to Jason Green, Susan Mason, Karen Kerr, Trish Costello, Helen Pei-Hua Wong, Mel Williams, Edwin Poston, Phil Wickham, Bill Tobin, and Jeffrey Harbach. Kauffman Fellows simply would not be where it is today without your tremendous efforts and the path you forged.

We are proud to announce the 66 new Kauffman Fellows selected as part of Class 30, marking 30 years of impact and growing the network to 1,000+ Fellows.  Class Highlights include: 🔹 $102 Billion combined AUM 🔹 1,000+ venture deals led combined 🔹 76% in senior leadership roles 🔹 53% are GPs or key decision-makers 🔹 44% are women 🔹 20% are LPs 🔹 20 countries represented across 6 continents What began as a path for top operators to enter venture capital, Kauffman Fellows has evolved in its 30 year history and grown into the premier and most selective fellowship for emerging managers, partners at leading firms, CVCs, LPs, and ecosystem players. The 2-year core program offers relevant, curated small group sessions, meeting fellows where they are in their individual career journeys. This year marked a new strategic initiative with Class 30 intentionally designed to include our highest number of LPs to date, showcasing Kauffman Fellows commitment to investing in the future of LPs and redefining how GP and LP relationships are built. Learn more and meet the class here: https://lnkd.in/gN8wE8kx Please join us in congratulating KF30! Alana Ackerson Ali Nahm Althea Wishloff Aly El Shalakany Andrea Gurnari Anita Sonawane, CFA Ashley Lewis Ashlie Tyler Ashtan Jordan Ben Grabiner Brendan Marshall Bukie Adebo Umeano Carli Sapir Carlos Murguia Charlie March Charlie Graham-Brown Charlotte Palmer Chris McCann Christine Giam Christopher Nakutis Taylor Colleen E. Heidinger Danny Brown Denise Miller Devon Gethers Dina el-Shenoufy Dylan Ketcham Emily Zhen Fernando Carranza Haroon Saqib Heeeun Park Hyun Koo Igor Piquet Jack Taylor Jeff Todd Jianfeng Liu Juan Diego Briceño Julian Fialkow Julian von Eckartsberg Kalsoom Lakhani Kanishk Walia Konstantin Vinogradov Kotai Gen Kristine Harjes Lauri Kokkila Lina Lisbona Lisa Pallweber Manish Patel Marcin Nowak Marianna Bonechi Mehreen Malik Nicole Jang Nora Alsarhan Pedro Santos Vieira Pocket Sun Rodrigo Baer Ryan Fitzpatrick Sanja Partalo Sayiddah McCree Simon Sharp Susan Moring Tim Lynch Timothy Krysiek Tomas Denecken Valentina Kirr Zach Ellis #KF30 #KauffmanFellows