Québec-based early-stage venture capital (VC) firm Real Ventures is going back to its roots with a fellowship program for aspiring founders that’s meant to help them grow into mentors and leaders.
The new initiative is partially modelled on a similar program from a decade ago, in which Real Ventures held a 10-week educational fellowship for aspiring founders, Real Ventures Managing Partner John Stokes told BetaKit. Stokes described the fellowship as one “designed to help experienced founders evolve into a new type of mentor and leader,” while the previous program was more like an educational internship. The previous fellowship only ever accepted one cohort, and went on to become the foundation for Front Row Ventures, Stokes said.
“I think we see this fellowship program being a critical pillar to the next generation of Real Ventures that we’re working on.”
Sam Haffar
Real Ventures
This year’s cohort consists of 11 founders engaged in peer-to-peer relationships with 20 Real Ventures portfolio companies. The fellows meet virtually once a month and attend several three- to four-day retreats. Participants include Caitlin McGregor, co-founder and CEO of Plum, Lucas Pellan, founder of Z League and co-founder of Sonder, and Mohannad El-Barachi, CEO of Wrk.
Facilitators at these retreats include MIT professor Aithan Shapira and entrepreneur Pete Strom.
Remx.xyz founder Nazim Ahmed said the program was “well worth my time.” Currently, the fellowship is a two-year commitment. The program is by invitation and free for participants, with all costs covered by Real Ventures. Participants are also entitled to a share of the profits of Real’s latest fund by being allocated an unspecified nominal amount of carried interest.
This model bears a resemblance to former Real Ventures’ managing partner Janet Bainnister’s new fund, Staircase Ventures, which sets aside 20 percent of the fund’s carried interest for founders and advisors. When asked about these similarities, Real Ventures partner Sam Haffar explained that Real Ventures had been actively discussing and seeding these ideas of leadership growth and development and building communities around founder development support since 2019.
Haffer said the team is concerned about potentially worsening mental health among founders. According to research published in the Small Business Economics Journal in 2019, entrepreneurs reported experiencing more depression, ADHD, substance use, and bipolar disorder than non-entrepreneurs. According to Haffar, Real’s program’s mission is to facilitate “deep and meaningful connections” so that the founders’ journey “is one less of isolation and burnout and more of collaboration.”
“I think we see this fellowship program being a critical pillar to the next generation of Real Ventures that we’re working on,” he said.
Feature image courtesy Real Ventures.