exceptional returns over the course of 10 years. So far, we’re 34 months old, so less than three years into that 10-year cycle. We’ve looked at benchmarking data on the performance of other funds that are the same vintage as us and, according to that data, we are outperforming peer funds,” the cofounder says. Investors include Mill Valley’s Paul Solli, co-founder of Sausalito- based Aperio Group, now part of BlackRock; Petaluma's Tom Isaak, a longtime local entrepreneur and founder and chairperson of Petaluma-based CourseCo, Inc., a golf course management company operating around 40 golf courses in the western United States. Additional investors include Jake Walker, a San-Rafael-based attorney; Blair Kellison, prominent Petaluma businessperson and former chief executive of Sebastopol-based Traditional Medicinals; and Craig Nelson, chair of the board of San Rafael-headquartered Nelson Connects, an employment services firm. The idea of keeping local capital in the North Bay and investing in local companies was what drew Nelson to MSIV, he says. “We have a lot of wealth here in Marin and Sonoma, but it tends to migrate south to San Francisco and Silicon Valley,” says Nelson. The bulk of venture capital investment has long taken place in Silicon Valley and, later on, to some extent San Francisco. “I love the idea that MSIV is creating jobs in Marin and Sonoma,” says Nelson, who put his own money into the fund. His company is not affiliated with MSIV, though especially as an employment firm, it stands to benefit in the long run. MSIV will potentially benefit Nelson Connects and other firms “in that we will have a stronger local economy and have new companies growing here,” says Nelson.
Zachary Kushel, at work in San Rafael, describes MSIV as ‘venture capitalists on a community level.’
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September 2024
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