Venture capital firm MaC Venture Capital has just marked a first.
According to Insider, Jennifer Randle has been named as the firm’s chief operating officer, the first in the company’s history.
“Part of our ethos is not to be a ‘diversity fund’, but to set an example,” MaC’s co-founder and managing partner, Marlon Nichols, said. “If you truly invest without bias you will end up with a very diverse portfolio and a high-performing one because that’s what the world looks like.”
Furthermore, he says the company should be a reflection of that.
“Our team should mirror what the world looks like,” Nichols continued. “Our portfolio should mirror what the world looks like, if we’re doing our jobs properly.”
Jennifer Randle's Background
Randle, who will leave her current position as executive vice president of finance and operations at The Chernin Group, helped to expand the company from a family office for its founder Peter Chernin into a billion-dollar global investment firm.
Now, she aims to not only bring her expertise to MaC with the same vigor she started with when she stepped into her career nearly two decades ago but is eager to support the company because of its stance on accurately reflecting the world of today.
Turning Over A New Leaf
“I wanted to be able to take all the things I have learned over the last 20-plus years and help build a firm and be a part of something so amazing and special,” she expressed.
MaC Venture Capital has led investments in various startups including Spill, the Black-owned Twitter rival networking app that first launched to the public in July 2023.
While there’s still a way to go for women, specifically Black women, within the VC space, Randle’s appointment comes at an opportune time when investors who look like her are stepping into roles with more power.
Per a report by Venture Forward, Deloitte, and the National Venture Capital Association, in April 2023 “Black investors made up only 4% of investment partners with decision-making responsibilities.”
At this time, the outlet says a MaC representative confirmed that more than half of the firm’s team identifies as Black with over a quarter of them being women.