Jennifer Neundorfer, co-founder of January Ventures, visited the Equity podcast at TechCrunch Disrupt to discuss fundraising in the current AI-dominated market.
AI is a fixation for both founders and investors; Neundorfer even mentioned her firm exploring AI applications to enhance their efficiency, like aiding market and competitor due diligence. Regarding companies being developed, she favors founders aiming for entirely novel creations.
“I get excited when someone uses AI for something that isn’t just 10x better, but to create an entirely new experience, workflow, or behavior,” she stated. “That’s our focus: less incremental changes, more completely new behaviors.”
She noted it’s becoming tougher for founders as AI concepts increasingly resemble each other, leading to fatigue.
“Founders succeed when they clearly articulate to investors how their work differs significantly from dozens of similar startups and why they’re the right team,” she said.
Regardless of an AI bubble, Neundorfer anticipates a market correction, potentially dooming many companies now flush with investor capital. Success hinges on building “truly category-defining companies” that capture the future of tech. She listed, “Founders who anticipate trends, build on today’s cutting edge, and prepare for the future. Founders who can truly understand the market and customer needs, not just build what’s possible, will have the edge.”
She also discussed her pre-venture career at YouTube and 21st Century Fox on the podcast.
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“Meeting people with great technology was a big part of my job,” she recalled from her 21st Century Fox days. These interactions were the most enjoyable and guided her toward working with early-stage founders.
Transitioning to investing had a steep learning curve. Initially, she frequently checked in with founders, providing detailed company feedback.
“That’s fine sometimes, but it depends on the founder relationship; it’s about supporting them as people, not just the business,” she said.
Now comfortable, she mentors for organizations like Techstars and has made over 50 investments at January Ventures, according to PitchBook, with some successful exits.
Neundorfer discussed the evolving venture market, funding for minorities and women, and thriving venture markets outside San Francisco. Her top advice for diverse founders, relevant to many in this environment, is to ignore distractions and build a solid company.
“They can’t control anything else, so the worry isn’t worth it.”
