18. Serial Entrepreneur Toby Zhang on How VC Firms Really Work, How Startups Can (or Can't) Effectively Use VC Funds, and What a Career in VC Looks Like

Meet my alumni friend, Toby Zhang, who’s been passionate about basketball since forever. In 2014, he joined a hedge fund to help launch their VC arm as Partner. From $38 million to $1.3 billion, he steered returns over a 10-year tenure at CRCM. In 2017, Toby was recognized as one of Forbes’ 30 Under 30. One of his notable exits was Musical.ly, which was acquired by ByteDance (now TikTok).Toby brings a unique perspective on the entrepreneurial landscape, with experience as both a venture partner and a startup founder. Despite his success, his character remains unchanged from our college days—rooted in humility, integrity, and curiosity.Toby and his wife, along with their two children, live in San Francisco. He adores and credits his spouse for her unwavering support when they had their first child and for believing in his ambitions. From starting out in a one-bedroom apartment while raising a new family to figuring out how to let go of a supercar that doesn’t fit a baby seat, to enhancing his impact on the world with his experience—Toby will share his personal journey on topics like:How VC firms really work behind the scenesHow startups can (or can’t) effectively use VC fundingWhat a career in VC really looks likeA lifelong sports fan, Toby’s dream day would be spent shadowing a sports team GM. He’s also working on his strength training through rock climbing and enjoys intellectually exploring quant funds. With a background as a software engineer at Microsoft, an MBA from Wharton, and a deep commitment to entrepreneurship, Toby has valuable insights to share—whether you’re a founder, investor, mentor, advisor, or consultant.Cee you inside the Cee-suite with Toby! 👋