Jennifer Neundorfer, the co-founder of January Ventures, visited the Equity podcast during TechCrunch Disrupt to discuss fundraising in this AI-dominated market.
AI captivates both founders and investors, and Neundorfer mentioned her firm is exploring how AI can streamline tasks like market and competitor due diligence. Regarding startups, she favors founders aiming for groundbreaking innovation.
“I get excited when AI is used to create a completely new experience, workflow, or behavior, not just to improve something incrementally,” she stated. “We’re interested in radical changes, not minor improvements.”
She noted that it’s becoming more challenging for founders due to idea fatigue as AI concepts begin to sound similar.
“Founders succeed when they can articulate to investors why their venture is distinct from other startups and why they are the ideal team,” she commented.
Regardless of an AI bubble, Neundorfer anticipates a market correction that could threaten companies currently enjoying abundant funding. Successful companies will define new categories, capitalizing on future tech trends. She listed, “Founders who anticipate the curve, innovate at the edge of possibility, and prepare for the future,” adding, “Those who understand their customer’s needs over simply building what’s feasible will have an advantage.”
She also discussed her pre-venture career at YouTube and 21st Century Fox on the podcast.
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“I spent much of my time meeting with people who possessed amazing technology,” she remembered about her time at 21st Century Fox. Engaging with technology and people sparked joy in her, guiding her toward working with early-stage founders.
Transitioning to investing involved a learning curve. Initially, she frequently checked in with founders, providing extensive feedback.
“While appropriate sometimes, it’s really about the founder relationship, offering business support and personal support,” she explained.
Now, she is secure in her role. She mentors for organizations like Techstars and has made over 50 investments at January Ventures, with some exits, according to PitchBook.
Neundorfer discussed the evolving venture market, funding for minorities and women, and successful venture markets beyond San Francisco. Her top advice to diverse founders, and many others in this environment, is to ignore distractions and build a strong company.
“Anything else is beyond their control, and the worry isn’t worth it.”
