A BWV Intern Shares A Look Back At His Summer With The Fund

Before coming to Brown and White Ventures, I had never had any experience in the private sector of finance industry.

I had spent just under two years in Students

In Money Management at St. Bonaventure University learning the intricacies of the public sector of the finance industry.

I had always wanted to learn more about the private side of finance, especially now, with fewer small-cap stocks and fewer companies going the route of an IPO. I also found a lot of interest in the private sector with university investment funds such as those at the University of Michigan realizing large returns on

companies.

At Brown and White Ventures, I gained hands-on experience and added many new skills to my repertoire. One of these experiences was being able to sit in on an earnings call for a company on which I performed due diligence and presented to the Brown and White Ventures investment committee.

I learned how a private company runs an earnings report call. But this experience also introduced me top how to read between the lines based on

responses provided by investors as well as members of the compa h's team.

At the conclusion of this meeting, I compiled notes and presented them to the internal team at Brown and White Ventures to help them understand what I learned on the call.

The internshp also exposed me to reading and understanding the legal side of a convertible note that at maturity converted into equity in the company. I learned about the discount rate and what the note converted into, as well as when it converted.

I also learned many important back office skills that will translate early on in my career, including organizing legal documents.

On trips to the fund's Buffalo office, I sat in on in-person conversations with founders from Brown and White Ventures' portfolio companies. We also connected with prospective founders and limited partners. I also learned from fund co-founder Jim Aroune how to create a podcast, and even had the opportunity to be part of the production team that made one of the programs happen.

I also learned about the UB Cultivator program, which provides the fund office space, as well as supportive services to startup CEOs and their teams.

My experience showed me how Brown and White Ventures and the Western New York startup ecosystem are helping to create a positive innovation community in the region.