At Alumni House, the Cal Alumni Association hosted Bears Hunt Unicorns: Venture Capital at Cal, an evening that examined how Berkeley’s spirit of innovation and collaboration continues to shape the venture capital landscape. The event brought together investors, founders, and students for a lively exchange on what it takes to build companies that last.
Moderated by Navgeet King Zed ’16, CEO of OMECE Venture Studios and Haas School of Business alum, the discussion explored the intersection of experience, risk, and purpose in entrepreneurship. The audience filled the room, reflecting the growing energy around Berkeley’s startup community and its far-reaching impact in Silicon Valley and beyond.
Berkeley as a Venture Community
The panel featured a lineup of investors who have not only studied at Berkeley but are actively investing in its ideas. Alex Marquez, Managing Director of Experian Ventures, has invested in Cal-founded companies such as Kabam. Grace Ma, Investor at Bessemer Venture Partners, focuses on AI and software ventures, including Perplexity and several other Berkeley-led startups. Todd Grover, Partner at World Innovation Lab in Palo Alto, works with a global team that invests in emerging technologies like Canva, Cresta, and ElevenLabs, channeling capital from Japan into high-growth companies. David Bloom ’18, Principal at The House Fund, focuses exclusively on investing in Berkeley-affiliated founders at the earliest stages. Kevin Chang, MBA ’22, General Partner at Berkeley Ventures, leads a new early-stage fund developed in partnership with the Haas School of Business to back Cal founders across disciplines.
The conversation began with a simple premise: Berkeley’s ecosystem is not just producing successful founders, it is creating a network that sustains them. Grace Ma captured this sentiment succinctly. “Berkeley and the Haas community is such a valuable community to have here,” she said. “There is a depth of talent and a collaborative mindset that fuels everything from the first idea to the final product.”
The Value of Experience
A shared observation among the panelists was that the startup landscape is evolving beyond the archetype of the young, first-time founder. More mature entrepreneurs, often in their forties, are building some of the most successful and sustainable ventures.
These founders, the panelists noted, bring with them the hard-won knowledge of leadership, product cycles, and market realities. They understand timing, risk, and the patience required to scale. Their ventures are often shaped less by ambition alone and more by perspective.
Todd Grover reflected on the culture that makes this possible. “It’s nice to operate in a world where failure is encouraged,” he said. “The innovation that has evolved from that is unmistakable.”
Berkeley’s willingness to treat experimentation and failure as essential to discovery was a theme that resonated throughout the discussion. That same mindset, panelists agreed, defines the university’s influence in the venture space. At Berkeley, bold ideas are not judged by how quickly they succeed, but by how deeply they challenge what already exists.
Investing Beyond Capital
Each panelist spoke about the importance of building relationships that extend beyond funding rounds. Venture capital, they emphasized, is most impactful when it is paired with mentorship, partnership, and access to community.
For David Bloom, whose work at The House Fund centers on Berkeley-born ideas, the goal is to ensure that great founders emerging from the university are supported at every stage. The fund has become a direct pipeline between research and entrepreneurship, helping translate campus innovation into viable companies.
Kevin Chang added that Berkeley Ventures is designed to expand that model even further. In partnership with Haas, the fund gives both students and alums the chance to participate in venture building and investment. “When Berkeley students and alums invest in one another, the entire ecosystem becomes stronger,” he said.
Alex Marquez and Grace Ma both pointed to Berkeley’s interdisciplinary environment as a defining strength. Founders emerging from the university are often both technically adept and deeply aware of human context, a dual lens that helps them create companies with a stronger sense of purpose and adaptability.
A New Definition of the Unicorn
While billion-dollar valuations may define the term “unicorn,” the panelists offered a more nuanced view. A unicorn, they suggested, is not simply a measure of scale or capital raised. It represents companies that endure, that maintain integrity and purpose as they grow.
For Navgeet King Zed, this redefinition aligns with the philosophy behind OMECE Venture Studios, which operates under the principle of “Profits Rooted in Purpose.” His moderation steered the discussion toward the importance of building ventures that pair financial success with social value. “The real question,” he noted, “is how we create companies that not only grow fast but grow responsibly.”
That balance, between ambition and accountability, reflects the Berkeley ethos itself. From the panelists’ perspectives, Berkeley-founded ventures often lead because they are grounded in curiosity and conscience.
The Energy of the Room
As the Q&A began, students and alums asked about pathways into venture capital, lessons from failed startups, and how to stay resilient when success feels distant. The answers returned to a recurring point: community. Finding the right mentors, co-founders, and collaborators can matter as much as finding the right investors.
When the formal program concluded, the mixer continued with the same energy. Conversations spilled across the room, students comparing notes with investors, alums sharing how their ventures began, and attendees discussing ideas sparked during the session. The mood reflected a collective understanding that innovation at Berkeley is not a solo endeavor. It is something that grows in conversation, in mentorship, and in shared vision.
A Continuing Story
Bears Hunt Unicorns: Venture Capital at Cal revealed more than insights into the venture industry. It reaffirmed Berkeley’s distinctive approach to entrepreneurship, curious, collaborative, and deeply committed to impact. The investors on stage are not just funding companies; they are nurturing a cycle of learning that extends from campus to capital.
In the audience that night were students who may one day sit on a similar panel, ready to share how they built the next Cal-founded success story. Berkeley’s innovation story continues, one idea and one conversation at a time.
Photo Credits: Don Collier
