Nancy Pfund didn’t start her career as an entrepreneur or plan to become one: For two decades, she worked at investment bank Hambrecht & Quist, which was sold and became part of JPMorgan in 1999. She turned 50 while working at JPMorgan, and in 2003, she started an in-house impact investing strategy.
In 2006, Pfund made an early bet on a burgeoning electric car company called Tesla, and by 2008, she’d spun that impact fund into its own independently-managed venture firm called DBL Partners.
DBL, which stands for double bottom line—Pfund seeks profitable and environmentally-minded investments—has been an early investor in companies like Farmers Business Network and The RealReal.
In 2021, Pfund raised a $600 million fourth fund; she’s looking to deploy the dry powder on climate-tech companies and startups helping to prevent wildfires.
The women on the third annual Forbes 50 Over 50 are founding brands used by millions, breaking world records and forging technological breakthroughs. They are proof positive that success and innovation can happen at any age.
0:00 The Beginning Of The Entrepreneurial Journey
4:05 The Shift To Investment Banking
7:51 The Meaning Behind ‘DBL’
10:04 Early Investments
11:15 On Investing In Tesla
12:56 On Asking Elon Musk To Not Use His Private Jet So Often
13:25 Closing The First Fund Vs. The Fourth
15:46 Are State Laws A Threat To ESG Funds?
17:38 Why The Location Of Company Headquarters Is Important For DBL
19:20 DBL’s Most Successful Investment
20:21 DBL’s Most Difficult Investment
22:14 What Excites You Most In 2023?
26:51 On This Tough Economic Cycle
28:17 How Does Being Over 50 Effect Your Line Of Work?
31:29 Did You Think In Your 20s What Your Career In Your 50s Would Look Like?
33:25 Advice For Your Younger Self
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