Back in 2020, Terri Burns made history at GV (formerly Google Ventures) as not only its first Black female partner but also its youngest-ever partner at age 26, as previously shared by AFROTECH™. The promotion came after she joined the investment arm of Alphabet in 2017.
Now, the history-maker is spreading her wings to take on building out her own venture.
Fortune reports that Burns is launching her firm, Type Capital.
“To the next generation of founders… you’re exactly our type,” Burns wrote via Instagram when announcing her new firm.
According to Fortune, the 30-year-old was moved to start Type Capital after seeing a trend of venture capitalists investing in companies only after seeing fellow VCs show interest first, which she describes as “heat.” Burns aims to change the status quo by taking the lead and pursuing risks “driven by true innovation,” not by other investors.
“They’re talking to amazing investors, they’re getting some interest, but no one’s really willing to take the leap to anchor a deal unless they see that other people are involved,” Burns told the outlet. “But if everyone [holds out], that creates a really challenging dynamic.”
Bloomberg details that in comparison to other firms, Type Capital is set to be ahead of the curve and distribute checks early on.
“I want to move quickly and move efficiently and not over-index on heat,” Burns said.
She added, “…Not being super caught up in this ecosystem of heat that is really popular right now is the path to winning and also the path to more collaboration and respect from founders.”
As Type Capital is newly birthed, Burns is in the process of finding a team and searching for undiscovered founders, whom she will eventually support in securing follow-on investments. When it comes to specific sectors, Burns will have a focus on artificial intelligence (AI), digital consumer companies, and software development tools. Moreover, she will stick to her passion for backing Gen Z founders.
