Source: Vincent Xue, Co-Founder; Romelia Cuevas, Co-President
As every great business school does, Western contains a budding business community with interests in all directions. Suppose we picture all mainstream business career routes – consulting, finance, entrepreneurship, etc. – as crossing lines on a plane. One rising industry born from the intersections is undoubtedly Venture Capital (VC): a form of tech-focused, private equity investment provided by firms to early-stage startups with a vision to grow.
Now enter the Ivey Venture Capital Club (IVCC). As one of the first VC-focused post-secondary organizations founded in Canada, IVCC aims to make VC education as accessible as possible to all who are interested in learning about or working within said space. I had the pleasure of chatting with Vincent Xue, Co-Founder of IVCC, and Romelia Cuevas, one of the current Co-Presidents, about their thoughts and visions for IVCC and VC at Western.
The Founding
IVCC was founded in 2022 by Vincent Xue and Alex Ha, two Western students who happened to stumble across each other in a VC community on Slack, and immediately bonded through their shared experiences in VC coupled with a strong intent to advance venture education at Western. Shortly after the club’s incorporation, they brought on two close friends, Annie Tan and Maharshi Desai to craft their founding team.
VC provides a unique intersection between tech, investment, and entrepreneurship, offering excellent experience for both venture and traditional routes. However, compared to traditional, more popular routes such as investment banking or consulting, venture had nearly no campus presence prior to IVCC’s founding. Vincent reports that only around 30 Ivey alums work at notable US venture firms, an extremely small number compared to the amount that work in private equity or at hedge funds. “What Western really lacks is exposure,” he emphasizes. “And we want to bring that exposure.” The founders didn’t hesitate to leverage their own knowledge and connections within the industry to make this vision a reality.
Vincent and Alex’s efforts were proven to be successful. Three years since IVCC’s inaugural year in 2022, the club has now established relationships with over 35 top VC firms in North America, and executed over 50 events, providing learning and networking opportunities to all Western students. As a cherry on top, every member of the inaugural year directorship team has successfully transitioned into roles at top venture firms in Canada, expanding IVCC’s reach and setting a solid foundation for further years of expansion.
The Present
The forefront of IVCC’s operations is providing VC education. Every other week, the Educations portfolio holds in-person educational sessions at Ivey Business School, where they cover everything from an introduction to VC to technical concepts, case studies, and open sessions on recruiting advice and preparation.
Aside from regular educational sessions, IVCC also offers numerous networking and learning opportunities through two flagship events: the IVCC Firms Trip, where students spend a full day in downtown Toronto visiting various VC firms; and Ardency, the club’s annual case competition that offers students the chance to apply their knowledge, analytical abilities, and strategic thinking skills in the context of VC and startup investing. On top of these events, the club also hosts ad-hoc guest speaker panels, allowing students to directly interact and connect with industry professionals. Just this past November, they hosted Janet Bannister, Founder of Kijiji and Staircase Ventures for a successful and insightful session.
IVCC’s resources even extend beyond the bounds of Western and high schoolers or non-Western students who also want to learn can listen to the Ivey Venture Podcast. Featuring top VCs and founders, the episodes provide a deep dive into different founders’ journeys, the workings of actual VC firms, and valuable insights into the tech industry.
When asked about IVCC’s core attraction, Romelia gave me two keywords: community and transparency. Having joined and continued with IVCC since its inaugural year, she speaks highly of past directing teams that have acted like mentors to new members, and aims to continue fostering such a close-knit community in current and future years. Vincent and Romelia also highlighted the IVCC team’s openness and commitment to sharing resources and opportunities with members through its events and the IVCC newsletter, which updates members regularly on internal activities, new initiatives, and professional opportunities. Romelia states, “As an Ivey club, we have access to a lot of unique resources and alumni. We want to be a club that’s transparent with these opportunities, so that there’s something for everyone here.”
The Future
When asked about future initiatives, both Vincent and Romelia spoke excitedly of Ardency, IVCC’s annual case competition, which is to be held in March. They hope this will be an opportunity for students to experiment with case competitions while gaining exposure to the technology space. In the long run, the team aims to continue what they have always persistently worked on – curating a supportive and helpful community – and up their engagement with first- and second-year students, with the hopes of bringing new students to the VC landscape. Vincent tells me that ultimately, the goal is to make IVCC as close to a real VC experience as possible, such that members are able to get hands-on experience right within the club.
While VC may appear to be a field full of myths and closed doors to many, IVCC emerges to clear the mist and bridge a new pathway for Western students. If you're passionate about investing, technology, operating businesses, and making a difference – as cliché as it sounds – venture capital will lead you right to the midst of the action and chaos. As Vincent puts it: “The best part about being a venture capitalist is that you get to ask yourself the question of where you think the world will be in the next decade. Better yet, you get to talk to the exceptional people who are currently out there relentlessly building that future. Not many have the privilege to do that. Luckily enough for me, it’s my job. And it’s so much fun.”