Adrian Mendoza: Breaking Barriers in Venture Capital by Championing Diversity in FinTech, AI, and Cybersecurity

On this episode of the Scouting For Growth podcast, Sabine VdL talks to Adrian Mendoza, founder and general partner of Mendoza Ventures, whose inspirational journey sees him go from a first-generation Mexican-American to a tech-exit success who turned it into a platform for empowering others. He’s a living embodiment of the power of perseverance and vision. On this episode, Adrian shares his insights on everything from pitfalls to how to deal with corporate life, and building a corporate innovation lab to the art of securing strategic investments. KEY TAKEAWAYS It was very rare to find an operator/founder who was also an investor in 2015, but we had a lot of experience meeting people with domain expertise who would come to us because they’d invested in us through funds. VC was a black box that would never connect to founders. We theorised there was significant potential to break that black box open and connect founders with investors who had operational and domain expertise. Venture has been very localised. When we first looked at the landscape, we realised there was an opportunity to find incredible talent that wasn’t the kids that went to Oxford or Stanford, because you’re missing out on everything in between. One of our first investments was two Latinos who were working at RSA security and left because they had an idea, they didn’t have Ivy League educations, they were domain experts. That company returned 10x to us in 5 months. For us, DE&I is not just about black, brown, and female identities, but also about age diversity, veterans, and people from rural areas. If you’re going to look at equity and inclusion, it can just be within a sub-segment because then it’s incredibly hard to find talent. We want to find talent no matter where it is and what it looks like. To achieve the best outcomes, you cannot be a passive investor; you have to help find customers and investors, mentor these individuals because they’ve never run a company with 80-100 people before, and help them find the talent and ways into mainstream financial institutions or corporates.  BEST MOMENTS ‘No one looked like us, there were no women or Latinos writing venture cheques, we didn’t know that we were one of the first Latinx Venture Funds on the East Coast until individuals in private equity told us.’ There are incredible talents in corporations in rural areas of the Midwest that no one’s touching, out there having ideas and building companies. We invest in this talent because we look like that talent.’ ‘60% of California is Latino, if we’re looking at being representative of that area, then 60% of the capital should be going to Latinos. Most states are 50% women, 50% ofthe  capital should be going to women.’ ‘Our references aren’t just the investors, they’re the founders that we backed and those that we’ve had exits with.’ ABOUT THE GUEST Adrian Mendoza is the founder and general partner at Mendoza Ventures, a Latinx- and woman-owned VC fund that is the first Latinx-founded VC fund on the East Coast. His firm focuses on investments in Fintech, AI, and Cybersecurity, with diversity playing an important role in their investment decisions—about 80% of their portfolio consists of startups led by immigrants, people of colour, and women. Since its founding seven years ago, Mendoza Ventures has raised two funds and had two successful exits. The firm is currently raising its third fund, a $100M fintech fund anchored by Bank of America, focused on early growth funding rounds. In 2022, Axios Magazine listed Adrian as one of the five most influential people in Boston, and the LA Times honoured Adrian as a DEI visionary as one of California’s most prominent game-changers and thought leaders in the business world today. Adrian is also a regular contributor on CNBC on the state of Venture capital in the US, and the firm has recently been covered in Forbes, Bloomberg, and The Boston Globe. Mendoza Ventures and Mendoza Impact ABOUT THE HOST Sabine VanderLinden is a corporate strategist turned entrepreneur and the CEO of Alchemy Crew Ventures. She leads venture-client labs that help Fortune 500 companies adopt and scale cutting-edge technologies from global tech ventures. A builder of accelerators, investor, and co-editor of the bestseller The INSURTECH Book, Sabine is known for asking the uncomfortable questions—about AI governance, risk, and trust. On Scouting for Growth, she decodes how real growth happens—where capital, collaboration, and courage meet. If this episode sparked your thinking, follow Sabine VanderLinden on LinkedIn, Twitter, and Instagram for more insights. And if you’re interested in sponsoring the podcast, reach out to the team at [email protected]