Molly Alter is a multi-talented individual. With her eye on a mockumentary exploring a world where charades is a major industry, she also prides herself on being a veteran caesar salad reviewer with her critiques featured on her blog, JULIUS. Moreover, she has recently joined Northzone as the firm’s latest partner.
Venture capital was not an anticipated career for Alter. Coming from a family of journalists and indulging in arts such as theater and improv comedy from a young age, she leveraged these passions to found a company at Harvard. This venture, which started as a means to capture a cappella performances and dance shows, unknowingly paved her way into the world of VC.
In a conversation with TechCrunch, Alter disclosed that her initial enterprise was merely a method to earn cash, a preferable option over cleaning toilets. However, the venture quickly escalated into a lucrative business, growing to employ 27 individuals. It caught the attention of Insight Partners who reached out via Facebook Messenger, inviting her to their analyst program.
After her graduation from Harvard, Alter dove straight into working with Insight. “I was entering a completely new territory, unaware of the diverse business models and the intricacies of starting a business. There was much to learn, and I believed it would offer me the extensive exposure I needed,” Alter explained. Initially intending only to gain experience before launching another startup, she found her calling in venture capital and hasn’t looked back.
Despite nearly five years with Insight, followed by a switch to Index in their London office in 2020 and a recent move to Northzone in New York City in 2023, Alter has embraced her journey in venture capital, recently stepping up as a partner at Northzone. Here, she concentrates on vertical software, contributing to a firm that invests out of a €1.1 billion 10th fund in startups across the U.S. and Europe.
Though she once contemplated returning to entrepreneurship, Alter discovered her affinity for VC, a role that seemingly had always aligned with her innate curiosity and fascination with the origins and making of things, even as a child.
“Investing in innovation at its essence is about understanding current functionalities and envisioning their improvements,” stated Alter.
Alter appreciates the depth of understanding required in VC, citing her investment in GovDash as an instance. Despite the initial perception of government contract software as dull, she found the detailed complexities and anti-corruption assessments captivating.
Describing her role as exhilarating, Alter finds joy in uncovering the mechanisms of everyday operations and identifying opportunities for entrepreneurial problem-solving.
Her creative inclination and various interests not only enhance her investment savvy but also enrich her interactions with founders. For instance, her film background led to a significant investment in Frame.io at Insight. The expertise she gained there enabled her to see the value in the cloud-based video collaboration platform, which Adobe later acquired for $1.3 billion in 2021 after it had raised about $90 million.
Alter believes these diverse passions facilitate stronger connections with founders, fostering a trusted relationship essential for navigating the ups and downs of the startup world.
The journey through venture capital has presented its challenges for Alter, yet she remains dedicated and excited about delving deeper into investments, particularly in cutting through the clutter of AI to identify truly promising startups, with a keen interest in vertical software and continuing her efforts from New York.
Admitting to moments of adversity, Alter reflected on her determination and affinity for the venture capital landscape. “The true test for me is the anticipation I feel on Sunday nights about the upcoming week. At Northzone, that anticipation is fervent,” she concluded.
Compiled by Techarena.au.
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