In her role as Partner, Diana manages the entire investment process and team across XRC's family of funds. Prior, Diana was an investor at WISE Ventures. She built and scaled two companies in retail and consumer tech, including XRC Ventures Cohort 1 company QUINN, leading major partnerships with the Hudson’s Bay Company, Neiman Marcus, MasterCard and Hearst Media. Prior, she spent a decade investing and consulting across the retail, consumer and healthcare sectors for $12B+ funds in CA and NY. Additionally, she helped found FirstGeneration.vc which is an initiative aimed at helping first-generation founders successfully scale their pre-Series A startup companies.
Take a look at Diana's session "What the recent downturn in global venture capital deal volume and valuations means for founders"
⚡️ Save the date: Women in Tech Global Conference 2023 will take place on May 9-12!
Are you excited to speak at the Women in Tech Global Conference and what motivated you to join our community of 100 000 women in tech, minorities, and allies?
Absolutely - I'm honored to be a part of this event which aligns closely with XRC Ventures investment interests and values. We’re an NYC-based venture capital fund and startup accelerator, focused on retail technology, consumer goods and consumer health tech. In my role as Partner, I manage the entire investment process and team across our family of funds and support our portfolio companies on institutional raises.
Since our start in 2015, we’ve invested in more than 130 startups, and we champion diversity, inclusion and belonging in venture capital. Currently, 49% of our portfolio companies have female founders, 35% female CEOs, 40% BIPOC founders and 34% BIPOC CEOs. XRC Ventures itself also has over 50% female staff.
Share with us about your background, your journey in tech, and what inspired you to develop your career in this direction.
In terms of my background, I'm a first-generation American from the Philippines and the first in my family to go to college. I didn't come from a prestigious school and had to work full-time while attending an in-state institution so I could afford it. This caused me to have imposter syndrome on a regular basis, but I, and many others who have taken alternative paths, belong.
Furthermore, despite a lack of resources and representation, I was still able to pursue a successful tech career by investing in myself and my knowledge.
I spent a decade investing and consulting across the retail, consumer, and healthcare sectors for reputable $12B+ funds in San Francisco and New York. Then I built and scaled two companies in retail and consumer tech, including XRC Ventures Cohort 1 company QUINN, securing funding and successfully leading major partnerships; most notably with the Hudson’s Bay Company, Neiman Marcus, MasterCard, and Hearst Media. And now I’m a Partner at XRC Ventures.
The lessons I learned during this journey are invaluable, and I continue to use them to build my career. I'm proud to show others who may not have had the same opportunities as me that they can still achieve their goals with hard work, dedication, and perseverance.
Why is the topic “What the recent downturn in global venture capital deal volume and valuations means for founders” important to you?
Understanding how to navigate global venture capital deal volume and valuations is incredibly important to remain competitive and attractive to investors.
XRC’s most recent Seed-Stage Benchmark Guide 2022 outlines information for founders to keep in mind as global VC deal volume and valuations have unfortunately taken a downward spiral over the past year.
For founders, this shift means:
Take care with cash (ramp down aggression, extend your runway, keep customer acquisition spend lean)
Lower your valuation expectations (no one wants to do a 2023 deal at a 2022 valuation)
Make thoughtful decisions (do diligence, update cash flow models, focus on building powerful metrics)
We’ll discuss much more in my session with key takeaways and action items to help you better reach investors, your customers, potential partners and more.
Who would you advise to attend the Women in Tech Global Conference and why?
The Women in Tech Global Conference is an invaluable opportunity for female entrepreneurs to come together to collaborate, network, and learn from each other. I would advise any woman who is interested in advancing in the tech sector or starting a tech business to attend this event.
