Monique Woodard left 500 Startups in 2018 unsure whether to start her own fund or join another. Jeremy Liu at Lightspeed brought her in to scout deals, keeping her active while she developed an investment thesis around demographic change, which became the foundation for Cake Ventures.
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I would love to talk more about your founding story of Cake Ventures and kind of what were those first few weeks or months looking like when you were kind of tossing the idea back and forth of starting your own fund?
Yeah, so I started my investing career at 500 Startups, and then I decided to leave 500 in 2018. I knew that I wanted to keep investing, and I didn't really have a plan around going out and raising my own fund versus joining someone else's fund, you know, or joining a large multistage venture fund. And so I was sort of noodling this over for a while. And Jeremy Liu at Lightspeed asked me if I wanted to scout invest at Lightspeed while I continued to think about it. So I took him up on that offer so that I could continue doing deals. And then I just started sort of socializing this thesis around demographic change.