BIV Welcomes Head of Operations - Jessica Pascolini
Our world is getting more complicated on the Burnt Island. We’re adding a second Fund, our first Opportunity Fund, and we have made 21 investments, with 19 still very much in operation and many more to come. We run a series of annual events, and we need to be as visible as possible in the water and climate marketplaces. We serve 109 customers (our LPs) and counting, and until May last year we were a team of two. High fives, Marissa. With complexity comes potential trouble if you don’t keep all the plates spinning, and that’s even before you get to the opportunity cost of tending to each one. We have been so lucky to work with Jessica Pascolini on our key events for the past 2+ years, and we are delighted that someone so experienced and professional has joined us as our Head of Operations. She is a profoundly wonderful person, and the glue that binds us. Welcome.
You spent 9+ years at Coatue, a multi-billion investment manager. What were your most surprising learnings from your time there and what do you hope to bring to Team BIV?
Coatue's network gave me a front-row seat into the intricacies of many teams in different stages of their entrepreneurial journey. What became clear is that regardless of their position in life, everyone shares a common desire: to contribute meaningfully and to be acknowledged for their efforts. Whether you’re a seed-stage founder or an A-list celebrity, what’s most important are our relationships. People are at the heart of everything we do.
During my five years spearheading Coatue’s East Meets West conference, I was fortunate enough to learn from diverse stakeholders. Producing the conference was a massive lesson in how detail, structure and organization all add up to creating an exceptional event experience. What gave me an edge was my emphasis on prioritizing people - their desires, concerns, fears, and aspirations.
Now, as I transition to BIV, I am thrilled to be joining a team that places the utmost importance on its people, while tackling one of the world's most pressing issues: water and its access. BIV understands that building companies is all about the people, and the inspiring group of founders the team has already assembled are just the tip of the iceberg. I am so excited to be a part of their journey.
Prior to joining us, you worked with our wonderful friends at Strut as a consultant for multiple VCs. What was that like? Any trends you noticed?
As a member of the Strut team, I gained invaluable insights into the inner workings of various funds at different stages of development. I learned that cultivating a cohesive and nurturing culture was an early standout in differentiating the most successful funds, which maybe was not so surprising given my learnings from Coatue. The ethos of a fund and its ability to achieve its goals are deeply interwoven with the collective human experiences of its members.
I don’t believe the traditional notion of leaving your personal life at the door when you’re at work and vice versa. The boundaries between personal and professional lives are permeable, if not illusory. The synthesis of individual histories and professional endeavors enriches the fabric of collaboration, fostering an environment where each team member can flourish as a self-actualized contributor. It's this organic synergy that forms the foundation of effective teamwork and propels us towards shared objectives.
As Peter Drucker said,“Culture eats strategy for breakfast.” Leaders with clarity and self-awareness wield a stronger influence and ability to galvanize their teams or garner support for their vision. Starting a new fund mirrors the challenges of launching a startup - astute navigation of scaling strategies, operational efficiencies, talent acquisition, and of course, fundraising. Scaling is a collective effort and in the venture capital world, leaders who prioritize their team and culture tend to have better experiences and outcomes.
In the last decade, there’s been a shift by emerging fund managers (and founders) to increasingly prioritize people and culture. I think leaders are now understanding that optimizing team performance requires attention to individual well-being and that’s no less important for an early-stage VC or an early-stage company.
How do you think about the connection aspect of the venture world - what is the VCs role in bringing people together, and what is the value?
Connection is crucial in the venture world. VCs, in truth, are facilitators of the connections and relationships that drive success. Our role extends far beyond writing checks; it's about making introductions, sharing knowledge, and building bridges within and across our networks. This involves not only linking entrepreneurs with investors but also connecting our portfolio companies with each other, creating opportunities for collaboration and mutual growth.
The value lies in the perspective learned from individuals in different stages of their entrepreneurial journey. Who better to advise you than those who have the same lived experience? Collaborating with individuals in different stages not only can help with productivity and creativity but also can illuminate blind spots that are constraining progress. Ultimately, our value lies in the breadth and depth of our networks, and the collective expertise they represent, allowing us to support our portfolio companies far-beyond financial investment.
What does brilliant Operations Management look like in VC, and why does it matter?
I recently attended Beethoven’s Symphony No. 5 at the Davies Symphony Hall and was struck by the magnificence of the orchestra. Each section and member of the orchestra knew exactly what to play, the vast majority of them masters in their respective instruments, and despite the hours of expert training, they all waited for the conductor’s signal because it’s that important to get the coordination right. This synchronization of the many elements is what makes music so mesmerizing, and it’s a valuable lesson for VC operators. To me, this is what brilliant operations look (and sound) like.
In VC, operations is no less a coordination of an orchestra, bringing together talented founders, team members, advisors, partners, LPs and co-investors towards a unified set of objectives. Like a conductor interpreting a musical score, VC involves zooming out to identify overarching priorities. Yet, it also demands zooming in to leverage the individual strengths of our team and network, much like signaling your first string violinist with the baton. Also, successful VC operations rely on humility, integrity and a relentless pursuit of knowledge. If we expect our founders to trust us with their businesses, we must demonstrate that we have the operational acumen to guide them successfully.
What are you most excited for, and most nervous about, in joining BIV?
I had the privilege of being an honorary BIVer as a Strut consultant, having worked on both Founder Forums and building our argument and data room for the fundraise, before formally joining BIV. The BIV story and its emphasis on people, planet and impact, continuously resonates with me but it was the BIV Founder Forum last June that left me feeling deeply energized. I was struck by the group of humans that attended. Their openness, willingness to help and share, and their deep dedication to their mission was truly inspiring. I am thrilled to be working with the remarkable team at BIV, helping to support our stellar portfolio and I’m excited to learn alongside such a brilliant cohort of individuals. I’m excited about the potential impact of what we’re doing and building. I’m excited about a lot of things!
There are also always lots of things to be nervous about when starting something new. Company building is hard. One of the most valuable lessons I’ve learned is to monitor and modulate around the 24/7 hustle mentality. It’s an important one for company builders and VC operators - sometimes you really do have to go slow to go fast.
As I have emphasized before, people, culture and strong leadership are the most important ingredients. I hope to model what it looks like to be a strong leader through clear communication as a colleague and mentor, and by staying focused on what's most important - the people we work with. I view my role as creating an exceptional experience for all the people that make up BIV and while that responsibility is hefty, exciting and nerve-racking, it’s a mission that runs deep in the veins of company building and one I look forward to taking on as we build the premier VC in water.
