MaC Venture Capital appoints Jennifer Randle, a TCG veteran, as its first COO.

MaC Venture Capital appoints Jennifer Randle, a TCG veteran, as its first COO.

MaC Venture Capital Hires Jennifer Randle as COO: A Maturing Firm on the Rise

MaC Venture Capital

In just under three years, MaC Venture Capital has made a resounding impact in the tech ecosystem. It burst onto the scene in 2021 with a whopping $100 million first fund, positioning itself as one of the largest majority Black-owned venture firms. The momentum continued in 2022 with a second fund of $203 million, solidifying MaC’s position as a key player in the market. This swift rise, coupled with its flurry of deal activity, earned the firm a spot on Insider’s list of top seed-stage firms in America.

As the firm expands, so does the need for a strong operational backbone. Recognizing this, MaC has brought on Jennifer Randle as its first Chief Operating Officer (COO). Randle, a seasoned veteran in finance and operations, will support the firm in various areas, including finance, accounting, investor relations, and IT. Her appointment is a testament to MaC’s growth and its commitment to managing larger teams and funds effectively.

Prior to joining MaC, Randle spent over a decade at The Chernin Group, where she led the finance and operations functions. During her tenure, she played a pivotal role in transforming the company from a family office into a global investment firm with more than $1 billion in assets under management. Randle’s extensive experience also includes positions at private equity firm Century Park Capital Partners and professional services firm KPMG, where she worked on tax compliance for venture firms.

Beyond her impressive background, Randle’s hire highlights the importance of representation in the venture capital industry. According to data gathered by Venture Forward, Deloitte, and the National Venture Capital Association, Black investors accounted for just 4% of investment partners with decision-making responsibilities in April 2023. The representation of Black female investment partners increased from 0.25% in 2020 to 1%. In contrast, over half of the MaC team identifies as Black, with more than a quarter being women.

The diversity within MaC’s ranks has led to a steady stream of investments in underrepresented founders. This outcome aligns with the firm’s ethos, as Marlon Nichols, MaC’s co-founder and managing partner, explained. He emphasized that MaC aims to set an example by investing without bias, ultimately resulting in a diverse and high-performing portfolio that reflects the world we live in. It’s not about being a “diversity fund,” but rather about embracing diversity as a natural part of success.

This ethos resonated strongly with Randle, who was drawn to MaC because of its commitment to equity and inclusivity. “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’s investments have made a significant impact on the industry, supporting innovative startups such as Spill, a Black-owned Twitter rival that reached the top of Apple’s US app store in July, BlocPower, a climate-tech startup, and Mansa, a streaming service centered on Black culture that secured $8 million in funding in April.

In conclusion, MaC Venture Capital’s growth trajectory has been nothing short of remarkable. With the addition of Jennifer Randle as COO, the firm is poised to strengthen its operational efficiency, further support underrepresented founders, and exemplify the power of diversity in creating a successful and inclusive investment portfolio. As MaC continues to make waves in the tech ecosystem, its commitment to excellence and diversity will undoubtedly set a standard for the rest of the industry to follow.