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The Founders' Circle, the Harvard Asian American Alumni Alliance, and the Harvard Business School Alumni Angels of Greater New York present...
The Power of "Social," Venture Capital & Financial Engineering:
How Tech Startups Are Challenging Banks & The Titans of Finance
Mike Cagney, SoFi CEO
Entrepreneur & Hedge Fund Manager, Cabezon Capital
Michael Giles, Roboinvest CEO
Entrepreneur & NY FinTech Startups Co-Organizer
Matt Harris, Managing Director, Bain Capital Ventures
Early & Growth Stage Venture Capitalist in Financial Services
Maria G. Gotsch, CEO, New York City Investment Fund
Investor & Founder of FinTech Innovation Lab
o Moderated by Jeff Yang, Wall Street Journal
Tao Jones Columnist & Consumer Marketing Guru; Harvard Asian Summit Co-Chair
o Introduction by Monica A. Lee, SoFi VP of Affinity
Entrepreneur & Early Stage VC; Harvard Asian Summit's ELEVATE Pitch Comp Chair
6:00 pm, Wednesday, May 16, 2012
at General Assembly
902 Broadway, 4th Floor, New York, NY
6.00 - 6.30pm: Registration and cocktails
6.30 – 7.45 pm: Panel and Q&A session
7.45 – 9:00 pm: Reception & Networking (beer, wine & light food provided)
Please Purchase Seats By Tuesday 12pm NOON, May 15:
Seats are limited. No tickets will be sold at the door.
Buy now online at http://powerofsocial.eventbrite.com.
o Questions? Email H4A's Alex Lee at email@example.com
Social networking is no longer about sharing vacation photos, gaming and poking. Since 2008, venture capitalists have invested over $1.7 billion in "FinTech" -- backing over 200 innovative financial services startups who have created thousands of new jobs in Silicon Valley and NYC. Today, in the Facebook era, the power of "social" and smart "financial engineering to do good" are quickly transforming the financial sector and enabling tech startups to now truly challenge banks and the titans of finance. While disrupting big banks and Wall Street stalwarts like JP Morgan with new technology won't be as easy as it was for Amazon to disrupt the bookselling industry, the face of banking and finance is undeniably changing. Should the traditional finance industry be more worried in the Web 2.0 era?
Hear from venture capitalist Matt Harris of Bain Capital Ventures and New York City Investment Fund's Maria Gotsch, who both invest in the FinTech space. They will be joined by two CEOs of game-changing, venture-backed financial startups -- Michael Giles of Roboinvest, a social investment platform where consumers can replicate trades of top investors, and Michael Cagney of SoFi, an innovative social finance platform and broker-dealer that taps university alumni and their capital to transform community lending. Addressing the broken $1 trillion student loan industry first, SoFi has launched at 30+ schools and MBA programs. Different from peer lending, SoFi enables alumni to earn compelling returns, while providing lower student loan rates than Federal options. Both borrowers and lenders benefit from the social connections and network formed.
The panel will also discuss the business models of microfinance firms like Kiva, crowdfunding site Kickstarter, peer lending platforms like Lending Club and Prosper, online wealth advisor Wealthfront, and payday loan/alternative player BillFloat, and more.
- How will the power of "social" -- social networking, social media, and social impact investing -- enable tech startups to challenge banks and other titans of finance?
- Which financial business models will be most disruptive? How can financial engineering be used to do social good?
- Why are institutional investors -- hedge funds, insurance companies, foundation, and even pension funds -- seeking higher fixed-income returns and investing heavily in areas like peer lending?
About Mike Cagney, SoFi CEO
Hedge fund manager and SoFi CEO Mike Cagney is a veteran VC-backed entrepreneur who aims to restore the norms of community lending via the power of "social" -- social media, social communities, and social impact investing. The San Francisco startup brings a new party to the broken $1 trillion student loan industry -- university alumni. Different from peer lending models, SoFi empowers alumni to provide lower cost student loans, while earning fixed income returns and making a positive difference in their community. Both borrowers and investors benefit from the social connections formed.
SoFi has launched an innovative set of unsecuritized and securitized asset-back securities -- while providing a true, double-bottom line return to both alumni and institutional investors. Nino Fanlo, formerly of KKR Financial leads its Capital Markets group. SoFi's Series A angel investors include Baseline Ventures' Steve Anderson (early Instagram & Twitter investor), Menlo Ventures' John Jarve (MIT Trustee), and MIT-Stanford MBA Joe Chen, CEO of Renren (NYSE:RENN), China's social networking platform with a $2.4 Billion market cap. Chen personally invested in SoFi within 10 minutes of meeting Mike.
Mike runs three firms concurrently. He is co-founder of Cabezon Capital, a billion-dollar global macro hedge fund. With Gordon Getty, he co-founded ReFlow, a mutual fund liquidity tools provider. Prior to SoFi, Mike co-founded Finaplex, a leading wealth management software firm acquired by Broadridge (NYSE:BR). Previously, Mike was also head trader for Wells Fargo Bank' proprietary trading and financial products group. He has a BS and MS in Applied Economics, and an MS in Management from Stanford Business School.
About Michael Giles, Roboinvest CEO
Michael Giles is the founder and CEO of Roboinvest, a New York-based social investing platform with direct integration to E*TRADE. Roboinvest allows self-directed investors to look over the shoulder of verified, top-ranked investors in real-time, using a subscription-based, pay-to-follow model. This social network for traders & investors enables sharing of real-time trade feeds of ideas and insights generated by a community of thousands of traders. Roboinvest's seed investors include Aftermath Ventures and Australian tech investor Domenic Carosa. Prior to Roboinvest, Michael founded a stock market information website and an online broker/dealer. Michael is also a qualified financial planner.
About Matt Harris, Bain Capital Ventures
New York venture capitalist Matt Harris was recently named Managing Director at Bain Capital Ventures, and will officially join in September 2012. Matt is co-founder of Village Ventures, an early stage venture firm focused on the media and financial services sectors. At Village, Matt's financial services investments included BankSimple, BlueTarp Financial, Consumer United, Dwolla, iSend, MetaMarkets, OnDeck Capital and TxVia.
Matt spent his early career years at Bain & Company and Bain Capital. Matt left Bain Capital in 1997 and founded The Berkshires Capital Investors, a venture fund affiliated with Williams College. He is a graduate of Williams College.
About Maria G. Gotsch, New York City Investment Fund
Maria is President and CEO of the New York City Investment Fund, a $100 million fund that invests in most industry sectors and any stage business in both the for proft and not-for-profit sectors. The Fund, a vision of Founding Chairman Henry Kravis of KKR, also finances projects that contribute to economic renewal of blighted areas and the alleviation of poverty. Maria has led many of the Fund's strategic initiatives, including FinTech Innovation Lab and NYCSeed (seed financing for IT/digital media companies). Prior to NYCIF, Maria was a Managing Director at BT Wolfensohn handling mergers and acquisitions. She holds an MBA from Harvard.<