Karin Klein, a partner at Bloomberg Beta, the $75m corporate venture capital fund investing in early-stage tech companies on behalf of the media group, is part of a team that understands by servicing entrepreneurs it can gain insights and returns for the providers of the capital.
As Bloomberg Beta says on its Github page: “Founders are our customers.”
Klein said: “I am a founder at heart and have tremendous respect for people who build things.
“I first developed my passion for building companies when I co-founded and served as president of an educational training company for children. Afterwards, I worked with the MC Group and Knowledge Universe, where I evaluated new investments in the education and technology sectors and partnered with management teams to create and implement operating and growth plans.
“It is gratifying to be a trusted partner and sounding board to these folks that want to change the world. To do so, with the backing of Bloomberg, one of the most talented founders and companies on the planet, is truly exciting.
“I am proud of my reputation for being an effective leader and passionate company builder as well as an experienced investor. Through Bloomberg Beta, I have led a multitude of strong investments, and we have announced 45 since our launch to November 2015.
“Thus far, there has been strong performance from New York-based investments such as Bonusly, Codecademy, Flashpoint, GoTenna, InfluxDB and Pathgather and exits that included Nodejitsu’s sale to GoDaddy in February 2015 and Newsle’s acquisition by LinkedIn in July 2014.”
Roy Bahat, head of Bloomberg Beta since January 2013, said: “Karin has been a trusted guide to founders on the startup scene in New York before there even was a scene.
“Karin’s consistent, even view in times of triumph and trouble give her – and therefore Bloomberg Beta – a unique ability to support our companies over the long term.”
Klein has more than 20 years of operating and investing experience and has an MBA from the Wharton School, after graduating from the University of Pennsylvania. She is a mentor for TechStars, New York City Economic Development Corporation and First Growth. She is also an adviser to entrepreneurs and high-growth businesses including serving on the boards of Bloomberg Sports and L’Oreal’s Women in Digital.
Before becoming a partner at Bloomberg Beta in June 2013, she was head of new initiatives at Bloomberg from 2010. Before joining Bloomberg, she headed a SoftBank team that reviewed all new investments during the period when SoftBank invested in Buzzfeed’s seed round, The Huffington Post and Associated Content.
While at SoftBank, she also sourced, led the investment in and served on the board of directors of Buddy Media, which Salesforce acquired for $745m in 2012 in the highest-valued venture exit in New York at the time since 2009, according to data provider CB Insights.
Klein said she began at SoftBank as director of corporate development by refocusing its oversight of its $4bn global venture capital activities, with investments in more than 300 technology companies in the US, Asia and Europe.
Perhaps unsurprisingly for a media group’s investor, she said openness could help corporate investors build trust with entrepreneurs. She said: “Great transparency can help. As an example, we published our operating manual online to share what we are looking for and the ways we work. Founders, partners and investors know what to expect and conversations are more productive.”
With a team in New York City and San Francisco completing at least a deal per month, it seems the customers like what they are hearing.