Bridging the Funding Gap: Evan Poncelet's Mission to Empower Underrepresented Founders
In this episode of Sound Investments, host Ed Barker interviews Evan Poncelet, co-managing partner of Dreamwood VC. Evan shares his journey from a career in software engineering to founding a venture capital fund focused on closing the funding gap for underrepresented founders, particularly within the black community. He discusses his family's legacy of economic empowerment through the establishment of the Liberty Bank in Seattle and how this inspired him to Africatown Community Land Trust and, later, Dreamwood Ventures. The conversation covers the challenges and rewards of building a new VC fund, the importance of economic equity, and the role of innovative sectors like med tech and FinTech in Dreamwood's investment strategy. Evan also highlights his efforts to educate and onboard more black angel investors and his broader mission to create generational wealth within underrepresented communities.
00:00 Introduction to Sound Investments
00:59 Meet Evan Poncelet
03:52 Building Africatown
08:23 Founding Dreamwood Ventures
14:27 Investment Focus and Community Building
21:59 Exploring Regional Strengths
23:37 Building Deal Flow and Community Engagement
25:58 Challenges and Opportunities for Black Founders
30:19 The Role of Corporates
34:05 Inspiring Investments and Future Plans
36:47 Addressing Economic Disparities
39:49 Closing Thoughts
About Your Host
Ed Barker has enjoyed a weird and varied career. Ed is a Brit now resident in Seattle and has founded three startups, enjoyed a long career in corporate strategy, and most recently as a VC. He's now building a podcast production company, Studio 1878. Sound Investments is a modest attempt to shine some light on the fantastic work being done in the Pacific Northwest entrepreneurial community.
Evan Poncelet — Founding Managing Partner of Dreamward Ventures
Evan founded Dreamward to back underrepresented founders, especially Black entrepreneurs, building high-growth startups. A former engineer and program manager at Fluke Networks and Cisco, Evan brings over a decade of tech industry experience to his investing. He’s also the Executive Director of Venture Black, co-founder of the Washington Black Angel Network, and a driving force behind the Black Founder Launchpad Expo. Evan’s work is rooted in a legacy of economic justice—his grandfather co-founded Liberty Bank in Seattle to fight redlining in the 1960s.