Shelby Wanstrath, Kate Wallman, Adriane Brown, Emma Silverman and Devin Glenn are among those on the move this week
From our Women's PE Briefs - week commencing June 21, 2021
Shelby Wanstrath announces her departure from the Teacher Retirement System of Texas
Shelby Wanstrath leaves her role as senior investment manager in the private equity group at the Teacher Retirement System of Texas. In a note to her contacts, Shelby said that after “seven amazing years, I am moving on to the next challenge and will be joining a new firm in August.” While at TRS, Shelby had primary responsibility for the pension fund’s $8 billion large buyout portfolio and was a member of the private equity investment and management committees.
Prior to TRS, Shelby led European private equity investments for Partners Group. Her background also includes roles with WhiteHorse Capital and Prudential Capital Group. Shelby has spoken at both the Women’s Private Equity Summit and the Women’s Alternative Investment Summit.
Kate Wallman is promoted to managing director at Encore Consumer Capital
Encore Consumer Capital promotes Kate Wallman. Kate is now a managing director with the consumer-focused, San Francisco private equity firm. She joined Encore in 2016 from Lineage Capital. Earlier this year, Kate led Encore into Ogilvie Brands, Inc., a women’s health and wellness brand that does business as Love Wellness and which was founded and led by Lauren “Lo” Bosworth. Kate joined the company’s board and is also on the boards of firm portfolio companies Murry’s, Inc., Full Sail Brewing and Kyla Kombucha.
Encore is currently investing its $260 million third fund. The firm has raised more than $600 million in equity and has invested in more than 35 companies.
Zhenni Liu joins MaC Venture Capital as a partner
MaC Venture Capital adds Zhenni Liu to its team. Zhenni joins the Los Angeles seed-stage venture firm as a partner. She is MaC’s first outside hire.
Zhenni was most recently a senior associate at Commerce Ventures. Her background also includes roles with Sephora and serving as an associate at Peterson Ventures where she worked on such deals as Bonobos, Allbirds, Lucid, HireVue and Ethos.
Zhenni launched Utah Female Founder Office Hours, as well as the Salt Lake City chapter of SoGal, a global platform for diverse entrepreneurs and investors.
Adriane Brown is appointed to KKR’s board of directors
KKR & Co., Inc. appoints venture capitalist Adriane Brown to its board of directors. Adriane, who is managing partner of Flying Fish Partners, becomes the third woman on the investment firm’s 14-person board. The others are Mary Dillon, CEO of Ultra Beauty, Inc. and Patricia Russo, former CEO of Alcatel-Lucent.
Emma Silverman joins Soraya Darabi and Marina Hadjipateras’ TMV as a principal
TMV, which was founded by and is led by Soraya Darabi and Marina Hadjipateras, adds Emma Silverman to its team. Emma joined the New York venture firm as a principal. She was previously chief of staff at Truebird, a coffee automation startup, and help launch Flamingo, a women’s personal care brand. Emma’s background also includes serving as an associate consultant at Bain & Co.
TMV, which used to be known as Trial Mix Ventures, has backed such companies as Andie, a swimsuit maker founded by Melanie Travis; Kindbody, a women’s health care startup co-founded by Gina Bartasi and Joanne Schneider; Parsley Health, a provider of holistic personalized medicine founded and led by Dr. Robin Berzin; Bulletin, which was created by Alana Branston and Ali Kriegsman to make it easy for brands to expand into brick-and-mortar sales; and HENRY The Dentist, an operator of a fleet of mobile dental practices co-founded by Alexandria Ketcheson.
Sarah Clark and Ruma Bose are appointed to executive roles at Clearco
Clearco, an e-commerce investor which was co-founded by Michele Romanow and whose board includes Oak HC/FT’s Annie Lamont, appoints Sarah Clark and Ruma Bose to executive roles. Sarah joins as U.K. head and country manager, while Ruma joins as chief growth officer.
Sarah’s most recent position was at XLMedia PLC as the chief transformation officer, and before that was a general manager for General Assembly and general manager at Loot Crate. She led Paypal’s growth across EMEA and has held senior roles at Barclays Bank, Virgin Group, Sainsbury’s and British Airways.
Ruma is a longtime Clearco advisor and investor. Her most recent role was as a managing partner at Humanitarian Ventures. She also was the co-founder and chair at Canadian Entrepreneurship Initiative. She is a serial entrepreneur, author and former president of Chobani Ventures and the Chobani Foundation. At Clearco, she will be responsible for ensuring the company has the right strategy to win outside of North America and enter multiple markets across Europe and key markets in Asia Pacific this year.
Clearco is a suite of performance financing products and services tailor-made for founders in all stages of their journey. Earlier this year, Oak HC/FT led Clearco’s $100 million round that also included Founders Circle and executives from a host of e-commerce companies. It is now valued at nearly $2 billion. It also raised $250 million of debt from Credigy.
Formerly known as Clearbanc, Clearco has raised more than $170 million of equity. The Toronto entity has invested $2 billion in 4,500 companies. Clearco utilizes proprietary algorithms that are gender, race and region agnostic. As a result, it says it has funded eight times as many female founders as typical VCs. Michele, who is president, founded Clearco with Andrew D’Souza who is CEO.
Madeleine Stein leaves Two Sigma to join Steadview Capital Management
Madeleine Stein leaves her role in investor relations with Two Sigma to join another investment firm. Madeleine is now a vice president with Steadview Capital Management, which makes concentrated long-term investments in high-growth public and private technology companies. The firm is based in London, but Madeleine is in New York. Prior to her role with Two Sigma, she was on the investor relations team of Sightway Capital, which is a Two Sigma company. Her background also includes time with the Carlyle Group.
Rochelle D’Souza and Anshul Jain are promoted to managing directors at Lighthouse Funds
Lighthouse Funds has promoted Rochelle D’Souza and Anshul Jain. Rochelle and Anshul are both managing directors with the Mumbai, India private equity firm. Rochelle joined Lighthouse in 2012 after being a manager in the investment banking division of SBI Capital Markets. Anshul has been with the firm since 2017. She previously held roles with ICICI Securities, Morgan Stanley, ABN Amro and Babcock & Brown.
Founded in 2006, Lighthouse is investing from its third fund which it closed at R1,750 crore ($250 million) in May 2019.
Meaghan O’Grady leaves KPS Capital Partners to join Palladium Equity Partners
Meaghan O’Grady leaves her role as a vice president with KPS Capital Partners to join another private equity firm. Meaghan is now director of business development with Palladium Equity Partners. In her new role, Meaghan will work with Palladium’s deal teams on sourcing and origination. Meaghan’s background also includes serving as head of originations at Long Point Capital and roles with Goldman Sachs and Ernst and Young.
Palladium is a middle market private equity firm with nearly $3 billion in assets under management. Earlier this year, it added Deborah Gallegos as a managing director and Nancy Mitchell as chief administrative officer.
Devin Glenn joins Blackstone as the global head of diversity, equity and inclusion
Blackstone brings aboard Devin Glenn to handle a significant role. Devin joins the investment firm as the global head of diversity, equity and inclusion. She will be a managing director responsible for implementing policies and initiatives that will help Blackstone achieve a more diverse and inclusive workplace both at the firm and its portfolio companies. She joins from Skadden, Arps, Slate, Meagher & Flom, LLP where she was the assistant director of diversity, equity and inclusion.
In a statement, Devin said, “I look forward to helping Blackstone continue to integrate DEI principles into the workplace culture and the various talent and business functions, and also ensure that we leverage its expansive platform to promote diversity, equity and inclusion in the industries and communities it serves. The firmwide commitment has impressed me and I’m excited about what we can accomplish in the coming months and years.”
A.J. Murphy leaves Silver Lake for 40 North Management
After three years as a managing director at Silver Lake, A.J. Murphy has left the private equity firm to join an investment firm. A.J. is now head of markets for 40 North Management, a related investment business of Standard Industries. A fundamentally based investment platform focused on public equities, 40 North takes concentrated, long-term positions across a range of sectors.
Prior to Silver Lake, A.J. was head of global capital markets for Bank of America Corp. Her background also includes roles with Goldman Sachs, JP Morgan, Deutsche Bank and Bear Stearns.