Bringing On Mirit

This is part 8 of 10 of our 10 Years of Laconia Series.

Sometimes the best talent finds you. That's exactly what happened when Mirit Lugassi sent me a cold email after an Included VC workshop (thanks to our Venture Fellow, Ross Haleliuk, for the invite!). Little did we know that this email would lead to one of our most important team additions.

Here's the thing about Mirit: once you meet her, you start seeing her everywhere. She showed up at non-profit roundtables discussing LP perspectives. She appeared at Venture Cooperative AMAs. She participated in VC Unleashed events and practice pitch sessions. Usually, it’s hard for people outside VC to end up in the VC rooms, but it was like she had already broken into the industry. 

It wasn't just about showing up. Mirit brought something special to every conversation: a unique blend of operational expertise, strategic thinking, and genuine curiosity about transforming venture capital. With more than a decade of experience building B2B software companies across the US, UK, Israel, and Europe, she had the kind of global perspective we valued. She had transformed companies as Head of Growth & Customer Success at DueDil (acquired by Artesian) and VP of Customer Operations at a high-growth edtech startup. When we say she drives results, we mean it—we're talking about 10x ARR increases and 5x monthly customer acquisition acceleration.

Mirit’s work extended beyond traditional operations. She helped build 51 Unicorns, an investment club focused on female retail investors, and SeedImpact, connecting mission-driven angel investors with underrepresented founders. As an Included VC fellow, she was actively working to diversify the face of our industry.

The more we got to know Mirit, the more obvious it became: we needed her on our team. Her operational background meant she could offer founders practical, been-there-done-that advice. Her strategic mindset helped her spot promising opportunities others might miss. And her commitment to changing venture capital aligned perfectly with our mission.

In true Laconia fashion, this wasn't just about adding another investor to our team. It was about finding someone who would make us better—someone who brought new perspectives, challenged our thinking and shared our values of transparency, collaboration, and community.

As we celebrate our 10th anniversary and look toward the future, bringing Mirit onto our team stands out as one of our best decisions. She embodies everything we look for in a partner: whip-smart execution, genuine empathy, sharp judgment, and unwavering optimism about what venture capital can be.

You can reach Mirit at mirit@laconiacapitalgroup.com. But fair warning: once you meet her, don't be surprised if you start seeing her everywhere too. That's just the Mirit effect.

Geri Kirilova

Giving Back: From Internships to our Co-op Program

This is part 7 of 10 of our 10 Years of Laconia Series.

When we launched Laconia, we knew education and mentorship would be central to our mission. Our first step in cultivating the next generation of venture talent was practical: As a small, growing firm, we needed help with everything from updating our CRM to conducting due diligence. We started an internship program, bringing on two to three paid interns throughout the year.

From the beginning, we approached our internship program differently than most firms. These bright, curious students and young professionals brought fresh perspectives, challenged our assumptions, and made us better investors. We found ourselves dedicating significant time to mentoring them, including them in investment meetings, bringing them along to board meetings, and teaching them how to write investment memos.

Our interns went on to join portfolio companies, become full-time investors, and build their own startups. (One of them even ended up a Partner at Laconia!) Word spread, and soon we were receiving hundreds of high-quality applications for just a handful of spots, and I started to tear my hair out—how could it be that there are so many talented people who want to learn about venture capital and leverage their skills to help startups, and we only have 2 spots?

I couldn’t get these questions out of my head: What if we could scale this impact? What if we could create a program that would expand access to venture capital education while maintaining the hands-on, transparent approach that made our internship program successful?

In 2021, we transformed our internship track into a fellowship program and launched the Venture Cooperative with a clear mission: to create the most accessible path into venture capital. We took everything we learned from our internship program—the importance of real-world exposure, the value of transparency, the power of hands-on learning and built it into a scalable format that could reach hundreds of participants globally.

The program's impact has been significant. In just a few years, we've trained over 1,300 fellows from diverse backgrounds across the globe. Our fellows include successful founders, operators transitioning to investing, angel investors seeking institutional experience, aspiring fund managers, and career transitioners. Most notably, 80% of our fellows come from underrepresented backgrounds in venture capital.

The Venture Cooperative's strength lies in its depth of engagement. Fellows don't just learn theory; they participate in live deal flow, investment meetings, and due diligence. They get direct mentorship from our investment team and network with industry leaders. They also have skin in the game: if a fellow sources an investment that we make, they share in the upside.

The program's benefits flow both ways. Fellows expand our market footprint and deal flow—they've identified over 300 startups, leading to multiple companies in due diligence and completed investments. They become informed potential LPs—six program participants invested in Fund III, without the burden of the typically exclusionary high investment minimums. And they strengthen our network—we even met Mirit Lugassi, now an Associate at Laconia, through an event invitation from a Venture Fellow.

Our fellows' successes validate the program's approach. They've launched their own funds, started venture studios, created angel syndicates, and spun off their own fellowship programs.

The evolution from our internship program to the Venture Cooperative mirrors Laconia’s broader journey: we started small, stayed curious, and weren’t afraid to think differently about how things “should” be done. identifying opportunities, testing solutions, and scaling what works. We saw an opportunity to create impact at scale while staying true to our values of transparency, collaboration, and community.

As we approach our 10th anniversary, the Venture Cooperative represents one of our proudest achievements. It's a testament to our belief that venture capital can—and should—be more accessible, more diverse, and more collaborative. By giving back and opening doors for others, we've not only helped shape the next generation of venture talent but also become better investors and builders along the way.

Here's to the next decade of learning, teaching, and growing together.

Geri Kirilova

Our Unique LP Base and Fund Structure: An Entrepreneurial Approach

This is part 6 of 10 of our 10 Years of Laconia Series.

We just don't fit in. Our personality has always been that of outsiders. This outsider identification is likely what drove us to become founders in the first place, both as operators and as venture capitalists. We are drawn to entrepreneurial niches that pique our curiosity, where there’s a unique fit, and then we build something meaningful around that opportunity. This is precisely how we built Laconia.

Laconia is the culmination of this approach, consisting of three core seed funds, a fund of funds, a number of later-stage SPVs (special purpose vehicles) allowing us to capitalize on our pro-rata rights, and GP interests in two blockchain infrastructure funds. We call this a horizontal approach to building assets under management (AUM). It enables us to achieve scale without losing our early-stage founder spirit. While we recognize the incentives and advantages of growing AUM, we’re committed to doing so without sacrificing our core strengths in seed-stage investing, upside potential, or alignment with our LPs. Our philosophy is simple: we make money when they make money.

A Unique LP Structure

Our LP structure sets us apart. Instead of relying on institutional investors, we’ve cultivated a base comprised primarily of family offices and high-net-worth individuals. This structure allows us to foster a more personal and collegial relationship with and among our LPs. By prioritizing engagement and open communication across all of Laconia’s activities, we’ve made education, collaboration, and community central to our operations. These principles not only enhance the value we provide to our portfolio companies but also make our partnerships deeply rewarding on a personal level.

Balancing Scale with Foundational Values

Over the past decade, we’ve grown Laconia from a start-up to a diversified investment platform. Yet, we’ve never lost sight of our identity as founders and entrepreneurs first. This identity drives our curiosity-driven, outsider approach to investing. We’ve consciously rejected the traditional founder/VC dichotomy, recognizing that such a divide can undermine the trust and collaboration essential to building successful companies. For us, bridging this gap isn’t just practical—it’s also more enjoyable.

Our horizontal approach to AUM growth allows us to remain nimble and aligned with the founders we back. By maintaining this balance, we’ve created a model that serves both our investors and our portfolio companies while staying true to our entrepreneurial roots. Laconia’s success is built on this foundation of trust, alignment, and curiosity—principles that guide us as we continue to navigate and shape the venture capital landscape.

David Arcara

Treat Your First Investor Meeting Like a First Date – 2024 Update

In 2015, as I was starting Laconia after five years of being an angel investor, I wrote this blog comparing a first pitch meeting with a VC to a first date. The parallels are uncanny—from the nervous anticipation to the delicate balance of making a great first impression without overdoing it. Now, as Laconia celebrates its 10th year, I pulled the blog back up, and it still holds true today. I decided to slightly update it and republish it—let me know if you disagree.

A warm introduction has been made. You’ve been wanting to meet this investor for a while, and now it’s finally happening. Thanks to the internet, you dive deep into your research. You check out their LinkedIn, scroll through their tweets, read their blog posts, listen to their podcast appearances, and see what deals they’ve done recently. The sheer amount of information can feel overwhelming, but being prepared is non-negotiable.

Everyone feels a little nervous before a first date—or in this case, a first investor meeting. It all starts with how you present yourself. You want to strike the right balance between professional and approachable. The last thing you want is to walk into the meeting feeling either over or underdressed. Read the room before you enter it.

On the way to the meeting, your mind is racing. How do you kick things off? Do you break the ice with small talk? What if they’re not a sports fan, or they don’t care about the latest tech trends? You remind yourself that both of you know why you’re here—the key is making that connection in an authentic way.

Then comes the chemistry test. Will they get you? Will they see the vision? Will they find you compelling or tune out after five minutes? You need to strike the right balance—confident but not cocky, passionate but not overwhelming, engaging but not dominating the conversation. This isn’t about a one-sided pitch; it’s a two-way street. You’re evaluating them just as much as they are evaluating you. Would they be a good long-term partner? Do they align with your values? Can they help you fill gaps where you need support?

Now, the conversation. You sit across from them with so much to say. You focus on making your points clearly and succinctly, avoiding rambling. You make eye contact, sit up straight, and try not to fidget. You know this isn’t their first pitch meeting, and it’s not yours either, but they hold the power of whether there will be a second meeting. You want to leave them with just enough intrigue that they want to continue the conversation, but not so much that you overwhelm them with every single detail about your business.

Then, just like a date, the meeting comes to an end. Did you make a strong enough impression? How do you follow up without coming off as too eager? Is a thank-you email enough? Should you send over a thoughtful note summarizing the conversation? Should you play it cool and wait for them to reach out? You remind yourself that if this doesn’t go anywhere, there are plenty of other investors in the sea.

Every meeting is an opportunity to refine your approach. Just like dating, you learn from each experience, adjust your strategy, and improve over time.

The analogy may make you laugh, but it holds true. A first meeting with a VC is just like a first date. Treat it that way—from how you dress to how you communicate and listen. Don’t push for a close; that’s not how venture investing works. Just like in dating, both sides need time to get to know each other, understand if there’s a real fit, and determine if this is the beginning of a long-term relationship or just a one-and-done meeting.