Profiles In Venture: Sierra Ventures' Adam Dawkins

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Adam Dawkins joined Sierra Ventures in 2018 with a focus on SaaS and Fintech spaces. He has a background in deal sourcing and performing due diligence at Plug and Play Ventures and Benhamou Global Ventures. Additionally, Dawkins is the founder of EVCA, a non-profit dedicated to supporting the pre-partner venture community. Dawkins holds a BBA in Finance from Texas A&M University. In his free time, he enjoys cooking, cycling, and hiking with his golden retriever, Cooper.

Frederick Daso: There's a common argument against going directly into venture capital investing directly from undergrad. Why do you think that's the case?

Adam Dawkins: That's a common argument mostly because people believe that investors need a few years out of college to build a network and acquire operating experience. However, students are getting exposure to venture capital through on-campus accelerators like Berkley's SkyDeck and Stanford's StartX, student-run venture funds like Dorm Room Fund, and Rough Draft Ventures and venture and startup newsletters geared towards students, such as Accelerated. Due to the variety of resources now available to college students, coupled with the proliferation of new venture firms who need hungry analysts and associates, it's no longer uncommon for firms to hire directly out of college.

Daso: The most common paths to becoming a VC are previously working in investment banking, management consulting, or being a product manager at a top tech company. For those who don't fall in those buckets, what advice do you have for them?

Dawkins: I believe this is generally relevant to anyone that wants to get into venture, and don't believe that bankers or consultants have an advantage over others in venture job searches. So, I'd suggest doing three things. One, build a network of people who have something in common with you (university affiliation, hobby, industry focus, etc.). Two, develop and write about your unique view on a particular industry. Finally, and this is most important, take the initiative.

When you initially build a network and cold email/DM people, it's easier to connect with people whom you share a common interest or background with. When I looked for my first job in venture, I emailed every VC that had attended Texas A&M. While there was only a handful, they were all open to chatting with me and introduced me to other investors.

Form an opinion about a technology or industry trend and publish your thoughts. It'll be helpful for firms to see how you develop your ideas and build a case for something you believe. Become an expert on the space and meet as many of the folks in the industry that you can. There's no such thing as a pure generalist VC. Even the generalists have a few sectors they can go deep on.

Start a newsletter, found a non-profit, create an online community, do something unique that demonstrates your ability to be a self-starter. You mostly have complete autonomy in venture and need to forge your path - show that you can do it before you get the job. 

Daso: There's much autonomy in entry-level venture roles that an individual traditionally wouldn't have in their first job. How do you make sure to properly use your independence to excel in your position at the firm?

Dawkins: Your time is the most valuable thing you have. Guard it closely. Don't hesitate to say no to a meeting and continuously evaluate how you spend your time. This needs to be weekly, and more realistically daily, exercise.

Daso: What's one unique value add you bring to the table to support founders?

Dawkins: Every investor can say the standard things. They help thinking through go-to-market, assist with hiring, fundraising, and provide other services. Yet, I believe empathy is essential as well. Founders have a massive weight on their shoulders to (successfully) build something out of nothing. I want to think I'm a decent listener, and I try to be there for founders. Sometimes they want someone to talk to and understand that they don't need advice but a sympathetic ear.

Daso: Tell me a bit more about the Emerging Venture Capitalists Association. What's one thing you've accomplished with EVCA that you didn't expect to initially?

Dawkins: The Emerging Venture Capitalists Association ("EVCA") is a non-profit professional group for pre-partner venture capitalists (analyst, associate, or principal) working full-time for SEC-accredited venture firms. EVCA is managed on an invite-only Slack channel with admission based on meeting the criteria listed above. We've had over 1,400 applications and admitted 480 members, of which ~85% are Bay Area-based. Over the past two months, we've launched chapters in LA, Austin, and NYC. I was not expecting increased demand to join the community - we had to create a waitlist for the new markets. We saw over 50 applications on the first day we launched NYC.

Daso: What's the best thing about the other EVCA members, and why?

Dawkins: The EVCA members' willingness to help out one another is astounding. You can post virtually any question on the Slack, and at least one person will answer it.

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