Leveling the Playing Field with VCNetwork
Humble beginnings, staunch discrimination and a massively successful career—that’s the story of Jenny Q. Ta, cofounder of VCNetwork.co. It’s a startup funding network that has been described as a virtual Shark Tank meets eHarmony.
Its database of independent international venture capitalists (VCs) finds startups who have what it takes to succeed. Facilitating such connections, both large and small, entrepreneurs are given the opportunity to submit their business plan through VCNetwork.co for the chance to be considered by one of more than 1,000 VCs. They won the Silver Stevie Award in the 2017American Business Awards for helping deserved entrepreneurs achieve their goals.
So how does VCNetwork.co work? Entrepreneurs create a profile on VCNetwork.co, which includes the founder's and team's information, as well as how much funding the startup is seeking. Once they submit a business plan and select the industry they're most closely related to, VCNetwork.co's intelligent system pairs them with the best business match for their funding needs.
Jenny Q. Ta is the cofounder of VCNetwork.co and former founder of two Wall Street broker-dealers and investment banks. She says VCNetwork essentially plays “the role of matchmaker, bringing together aspiring entrepreneurs who need funding and venture capitalists with the means to provide that funding.” Jenny took everything she learned from her experiences and teamed up with Shinta W. Dhanuwardoyo (founder/CEO of Bubu.com) to create VCNetwork.co.
The Price of Progress
As both tech and finances continue to grow dependent on each other, Jenny and Shinta are seeing huge returns and industry transformations as new companies grow and continue to be profitable. Jenny feels she has had to grow a lot in terms of overcoming unfortunate challenges that many women in her industry experience. She recounts the little to no support received whenever she came across repeated discrimination.
“I was told that as a woman it would take me years to advance and become a broker."
She decided to open her own firm, and promised colleagues better pay if they worked for her instead. It worked—Jenny launched Vantage Investments in 1998 at age 27 with 30 brokers.
Both Jenny and Shinta have been recognized for their work in huge ways. Jenny mentions their 2016 win for the Women In Business Award from the Los Angeles Business Journal, and this year they're expected to win in a similar category from the OC Business Journal. She comments on why it’s important to be recognized for their hard work:
“Recognition demonstrates our dedication to quality and innovation in the internet, new media and financial services industries.”
When you’re trying to bridge a gap to dissolve barriers traditional funding models place between VCs and entrepreneurs, if done right, chances are entrepreneurs and companies can avoid common pitfalls of venture funding. Investment banks are always looking for ways to venture into the investment arena due to lucrative fees they stand to collect from investors. These difficult bargaining tactics used by today's investment banks are what VC Network is looking to change, and they’re making a name for themselves wherever missed opportunities need better solutions.