Breaking the Mould - Tando Matanda (TC '05)

The first African-Australian woman to lead a multi-million dollar corporate venture fund

Have you heard of venture capital? It’s like the lifeblood of global start-ups - they wouldn’t be able to survive without it. Venture capitalists (VCs) are like the fairy godmothers of entrepreneurship, except instead of a magic wand, they use their vast network and expertise to help start-ups access the resources they need to scale and grow. And let me tell you, it’s not an easy job.

To put it into perspective, VC-backed start-ups contribute 20%

to the GDP of economies like the US and create millions of jobs in previously unimagined industries. But even with shows like Shark Tank and Silicon Valley bringing more attention to the field, venture capital remains one of the hardest professions to break into, and one of the least inclusive. Recent data shows that only 3% of global VC investors are black, and just 11% are women.

Aware of the odds, I decided to pursue a career in VC. As a black woman, I knew that my journey would be lonely and isolating. For every 30,000 or so venture capitalists in the world, only 1 of them would be a black woman like myself. But I felt that my unique perspective and experiences could bring something new to the table, and that my presence and that of others who didn’t fit the mould was vital for creating much-needed change.

The journey was even windier than I had anticipated, with no clearly established route to get into VC. But with a Bachelor of Commerce from Monash University and a Master’s degree with distinction from the University of Cambridge - Judge Business School, I haphazardly amassed an eclectic mix of skills and expertise that allowed me to better understand both the investors’ and founders’ needs. Along the way, I founded various start-ups in different countries, including Germany and South Africa. None of them were successful, but I did learn first-hand the difficulty of the founder journey.

Eventually, I launched my own venture capital advisory firm aimed at helping early-stage, high-potential start-ups navigate the complex process of getting investment ready. And now, I’m proud to say that I lead a multi-million dollar mobility-focused corporate venture fund for Carsales, one of the world’s largest vehicle classified platforms. As the first African Australian woman to lead such a fund, and one of so few black women in venture capital globally, I’m deeply committed to using my position to help other women and under-represented groups gain access to funding and support.

My goal is to drive equity in investments and help drive objectivity in how VCs source and screen their start-ups.

Because let’s be real, great ideas are everywhere, and everyone should have the opportunity to bring their ideas to life. Finding and empowering these incredible start-ups takes bold people who aren’t afraid to break the mould.