From Founder to Funder: Michael Stewart’s Path to Venture Capital

Join us for a conversation with Michael Stewart, MBA 15, Managing Partner at M12, Microsoft’s Venture Fund, recorded live on November 17 in the Spieker Forum at UC Berkeley's Haas School of Business. Stewart leads investments across generative AI, gaming, and systems, and since joining M12 in 2021 has overseen 16 deals while serving on the boards of several portfolio companies, including Quantum. Before entering venture capital, Michael built a diverse career spanning startups, semiconductor technology development, and innovation—earning more than 40 patents along the way. A scientist at heart, Stewart expected to spend his career on the technical side of things doing hands-on research—a career that led him to Applied Materials, where he spent nearly a decade working in semiconductor process engineering and later in solar and cleantech.  “All I wanted to do for the rest of my life was work on clean energy,” said Stewart, EWMBA 15, in conversation with Haas students Gonzalo Vásquez and Rey Yruegas Almanza, both MBA 26. “I came to Haas to get to the bottom of how the various levels of that market might work.” In this fireside chat, he shares his journey from founder to investor, breaks down his investment strategy at M12, and offers practical advice for students pursuing careers in venture capital. The session closes with an audience Q&A. Read the article and find the full transcript on today's episode on the Haas Newsroom.  Read more about the UC Berkeley Haas Dean's Speaker Series and upcoming speakers. Read more about the Haas School of Business.  The UC Berkeley Dean's Speaker Series podcast is a production of the Haas School of Business at the University of California, Berkeley.