VC boss Anu Adebajo: I was told to temper my ambition. I’m glad I didn’t listen
Each week, we dig into the memory bank of the City’s great and good. Today, Anu Adebajo, CEO of Newton Venture Program, takes us through her VC career in Square Mile and Me
CV
- Name: Anu Adebajo
- Job title: CEO, Newton Venture Program
- Previous roles: Partner at Atomico, senior investment manager at British Patient Capital / British Business Bank
- Age: 38
- Born: Ibadan, Nigeria
- Lives: London
- Studied: Finance, Accounting & Management
- Talents: Classically trained singer
- Motto: To whom much is given, much is expected
- Biggest perk of the job? Getting to make a tangible difference to the future of investor talent in the VC ecosystem
- Coffee order: Skip the coffee go for Matcha instead
- Cocktail order: Spicy Marg (the spicier the better)
- Favourite book: I’m a huge fiction reader so it’s like asking someone to pick their favourite child! Chain-Gang All-Stars by Nana Kwame Adjei-Brenyah. Creative, challenging and thought provoking.
What was your first job?
A family friend had a catering company and I would get paid to help out at events from around age 12 – it was a great introduction to the world of work.
What was your first role in the City?
My first permanent role was an analyst at the Angel Co Fund investing into early stage companies alongside angel syndicates. It confirmed my love for early stage investing and started my interest in the funds behind the companies – a passion that’s shaped my career ever since.
And what are you up to now?
I spent 4.5 years on the direct investing side at the Angel Co Fund and then the next seven years as an LP investor into venture capital funds with British Business Bank and as a Partner at Atomico. I recently became CEO of Newton Venture Program. We’re the UK’s leading executive education initiative, training aspiring and advancing venture talent from all walks of life to take the next step in their career. It’s a role where I get to take my love of nurturing the next generation of VC investor talent and combine it with an inclusive lens.
What’s one thing you love about Canada?
The change in architecture depending on where you are in the City. From the modern buildings near Liverpool Street to the historic buildings of St Paul’s and Mansion House. There’s something so interesting about them living side by side.
And one thing you would change?
As a proud northerner I’m used to strangers being friendly. It was an adjustment getting used to the no eye contact, no greetings of London. I wish I could transport the northern friendliness here.
What’s been your most memorable business lunch?
At university I knew I wanted to get into the private equity world and, in addition to the regular channels, I cold emailed senior professionals including Wol Kolade of Livingbridge. I didn’t receive a reply but got to tell him about it in 2018 when I met him for dinner!
And any business faux pas?
A colleague that I would often discuss career progression with once texted me a picture of a Rolls Royce with a personalised number plate that had my name within it – I jokingly replied that I’d been promoted to MD. Except the text was actually from a fund manager with the same name – he thought I was being serious and replied saying congratulations. I was too embarrassed to respond and we never mentioned it again!
What’s been your proudest moment?
The times I’ve used my power and influence as an LP to make real changes in the venture ecosystem. This includes helping funds create environments where their junior team members can develop and flourish, as well as calling out behaviour against female founders and other investment professionals which isn’t acceptable.
And who do you look up to?
I’m lucky that I have so many successful and inspirational people in my family to look up to, whether it’s my grandma who was one of the first female broadcasters in Nigeria or my grandpa who was the first non-expat executive director of Dunlop Nigeria. They all inspire me daily.
What’s the best career advice you’ve ever been given?
You can’t control all the steps, nor can you always see where those unexpected steps can take you. Letting go of the idea of a fixed plan has brought me to my current role. While unexpected, it makes complete sense for me.
And the worst?
To temper my ambitions. A senior woman I looked up to gave me that advice when I was thinking about my VC career plan and my target firms. I’m glad I didn’t listen!
Are you optimistic for the year ahead?
Very much so. Venture Capital is in a holding pattern with uncertainty around fundraising and exits. From experience it’s times like this where creativity happens and the biggest opportunities emerge. I’m leaning into this at Newton and dreaming big to maximise our impact on the ecosystem.
We’re going for lunch, and you’re picking – where are we going?
Yauatcha. Dim sum is always a good idea.
And if we’re grabbing a drink after work?
Los Mochis for the cocktails and the views.
Where’s home during the week?
Canary Wharf. When I moved to London my priorities were security and convenience and I definitely get both there. There has been a push to make the area more residential and there’s a good buzz around it now.
And where might we find you at the weekend?
Exploring London, saying yes to pretty much every invite, and at the reformer pilates studio.
You’ve got a well-deserved two weeks off. Where are you going and who with?
I’ve been taking solo trips for years including driving down the west coast of the USA solo. I’m currently working my way through the “rivieras of the world”.