The Acadian LP and Founder Annual Meeting

Friends, Founders, Limited Partners at the Presidio.

Last week in Presidio in San Francisco, we gathered our portfolio founders and limited partners together. Many of our LPs are active in the HR tech space, so we figured bringing founders and LPs together would be both fun and useful. The founders get to learn from the LPS, and vice versa. It was a chance for old friendships to be rekindled, and new ones to be forged.

Acadian Ventures LP and Founders Annual Meeting

Firstly, the weather was perfect, and the venue ideal. Jason made sure that every detail was nailed down. If he gets tired of VC, he could be a wedding planner for the rich and famous. Thanks also to his mom for the flowers.

Here’s a breakdown of the agenda.

We actually had a fireplace for the fireside chat bits.

Day one.

From Idea to IPO

A fireside chat with Adam Miller, founder and former CEO of Cornerstone OnDemand, discussing what it takes to go from aspiring startup to publicly-traded company.

Moderated by Jason Corsello

Power!  

A fireside chat with Dr. Jeffrey Pfeffer on power and how to get things done.  Dr. Pfeffer is the Thomas D. Dee II Professor of Organizational Behavior  at the Graduate School of Business, Stanford University, and is considered one of today's most influential management thinkers.

Moderated by Jason Corsello

Break

David AND Goliath 

A conversation with Meg Bear (formerly SAP SuccessFactors), Annrai O’Toole (formerly Workday), and Anshu Sharma (formerly Salesforce) discussing how  to work with the big platforms.  

Moderated by Thomas Otter

Buying Technology in 2024

A conversation with Kelly Cartwright (Splunk), Kelley Steven-Waiss (ServiceNow),  and David Smoley (Apple) on how they are thinking about technology spending in 2024, buying from startups, AI, and their highest priorities today.

Moderated by Cara Brennan Alamano (Lattice)

Founder Masterclass

A session highlighting tips and tricks from our portfolio companies. Discussions and speakers include: 

• Building a Customer Community - Charlie Franklin (Compa)

• From Seed to Scale - Maya Dadoo (Worky)

• Building a Partnership Program - Josh Schwede (Aventura)

Break & Outdoor Activities (Pickleball, Hiking, Rest)

Welcome Cocktail Reception & Tequila Tasting

Sponsored by Acre Largo Tequila

Celebration Dinner

Day Two.

Fun Run

Breakfast

The Past, Present and Future of Acadian Ventures

Presented by Jason Corsello

The Future of AI Applications

A discussion with Acadian Ventures portfolio companies including Joe Essenfeld (Fora), Dan Turchin (PeopleReign), and Maxine Anderson (Arist) on the current state of AI and how they are are thinking about AI in the future

Moderated by Thomas Otter

Networking Break

Venture Investing in 2024 and Beyond

A discussion with leading VC investors including Erin Yang (Workday Ventures), Victor Chang (ServiceNow Ventures), and Usman Khan (ADP Ventures) on the current state of venture capital and the opportunities ahead.

Moderated by Jason Corsello

Surviving the Unicorn Apocalypse

A discussion with “unicorn” CEOs including Mark Newman (Nomi Health) on managing, building, and growing startups after ZIRP (zero interest rate policy.)

Moderated by Jason Corsello

Founders request session

Lunch

Golf at Presidio Golf Course (Optional)

What I learnt.

Seeing our founders learn from Adam Miller and Mark Newman about really scaling a business was lovely. So many of our LPs are long term participants in the HR Tech ecosystems, and want to give advice to the next generation of entrepreneurs. Networks and communities are powerful. They don’t emerge overnight, but take years to develop. Our fund is now benefiting from relationships Jason and I have built over decades. Our network is our superpower, I suppose. We consider so many of the people we have worked with over the years to be friends, and seeing a good number of them in the same place was really rather special. The SuccessFactors, Cornerstone and Workday networks were out in force.

HR tech is made up of multiple ecosystems, and we have deep connections into most of these. The companies we fund collaborate and compete in these ecosystems. and we expect some to develop massive ecosystems of their own. Our understanding of the messy world of enterprise HR tech is not easily replicated.

The HR buyer is becoming more sophisticated, technology aware, and more sceptical. Founders selling into HR will need to step up how they position integration, ROI and the genuine benefits of AI. Seeing tech savvy HR leaders discuss their views on AI readiness was eye opening. Thanks Kelly, Kelley and Dave for the session.

Our founders are working on some really exciting AI developments, well beyond simply slapping Gen AI on existing processes. Maxine, Dan and Joe all brought different perspectives. Jason and I have a “cautious optimism” on AI.

Always be selling. Watching Jason’s college mates Seth and Zac passionately talk about their tequila business reminded me that great sales is a genuinely rare skill and that selling is a both a profession and a grind.

Jeffrey Pfeffer is one of the giants of organizational research. He has a wicked sense of humour, and a deep passion for fixing the inequities of the workplace. He also hasd a profound understanding of power politics If you haven’t read his book, dying for a paycheck, please do. It has played a significant role in shaping our investment thesis.

Being okay at golf 20 years ago and not practicing much since doesn’t mean that you are okay at it today. There is a metaphor in there somewhere, but the older I get the better I was.

What our founders, LPs and friends say.

The proof (see what I did there?) is in the feedback. Here is what some of our founders and LPs had to say.Maxime from Arist, Paul from Workpay Joe from Fora Maya from Worky Friends of the firm and LPs Oz Imran EJ Josh Steve Michael Meg Brad Dave …

Thanks to all that attended. We need to get planning the next one.