The majority Black-owned VC firm’s latest appointment of Randle as Chief Operating Officer doubles down on its investment framework to support technology startups shaping culture
(Black PR Wire) Los Angeles, CA — MaC Venture Capital (MaC), the seed-stage venture capital firm that invests in visionary founders building the future the world wants to see, today announced the appointment of Jennifer Randle as Chief Operating Officer (COO). The latest hire marks MaC’s commitment to creating a firm representing the communities it invests in. Randle will support the firm’s operational efficiency and provide insights on strategic growth and financial performance.
Randle joins the MaC team as its most senior hire-to-date and has a track record of proven success in managing high-performance teams and improving operations. She has a strong finance and accounting background, previously serving as the EVP of Finance & Operations for The Chernin Group (TCG). Additionally, Randle has an extensive background in the venture capital space with management experience across various firms. Before joining TCG, Randle was Controller at Century Park Capital Partners, where she was responsible for the accounting and financial reporting for limited partnerships, general partnerships and the management company and oversaw the company’s administrative and operational efforts. She also spent nearly four years on the accounting and finance team at Worldview Technology Partners and three years at KPMG, where she worked on tax compliance for venture capital firms and law firms.
“I’m personally excited to add Jennifer’s operations expertise to the team, which will undoubtedly impact the firm’s continued growth and success,” said Marlon Nichols, Co-Founder and Managing General Partner at MaC Venture Capital. “In an industry lacking leaders that look like us, we at MaC take pride in building a team representative of the founders and communities we aim to elevate. Jennifer is a true personification of that commitment. I look forward to working alongside Jennifer to continue doubling down on our commitment to representation throughout the VC space and beyond.”
Randle’s appointment to the MaC team marks a much-needed step towards advancing BIPOC (Black, Indigenous, People of Color) and women in the VC space. The hiring, investing and growth of these communities are essential as they face a stark lack of representation industry-wide, as Black individuals only comprise 4% of investors at VC firms, and women account for less than 15% of check-writers. As MaC continues to work to pave the way for diverse VC leaders of the future, its investments and operational teams embody the same communities it serves – over half of the MaC team identifies as Black and more than a quarter as women.
“The key to building a generational VC firm is how well we run the internal operations at MaC – from recruiting and motivating the best talent in the world, to the technology we use, to managing the relationships with our founders and limited partners,” added Mike Palank General Partner at MaC Venture Capital. “I am so excited to have Jennifer join our team and lead these operational efforts to continue making MaC Venture Capital a world-class VC firm.”
Since its inception, MaC has worked to break down barriers and open doors for diverse communities to enter spaces they have historically and systemically been precluded from. Women founders lead 36% of portfolio companies, and 69% have BIPOC founders. In a time when many BIPOC and women in VC struggle to find funding to support their startups, MaC has operated as a lead investor across portfolio companies like Archetype, Yobe, Big Cabal Media, Mansa, MEDU, Sequel, Crate, SPILL and more.
“I am thrilled to join such a strong and exemplary team,” said Jennifer Randle, Chief Operating Officer at MaC Venture Capital. “There is no doubt that there are many great things on the horizon for the firm, and I look forward to unlocking more value as their investments increase and they continue to deliver exceptional results for startups.”
The company’s focus remains on business growth and investing in seed-stage startups that leverage shifts in cultural trends and behaviors. Since its founding, the firm has cemented itself in increasing access, resources, and capital in solutions that serve communities worldwide. Randle will assume her duties as COO in August, offering continued support for the firm’s vision.