Careers in VC: Q&A with Jaclyn Baumgarten

Before founding her business, Jaclyn Baumgarten spent time at PwC, IBM, and Westfield Corp., where she led the division of a major Fortune 500 company and spearheaded one of the largest commercial real estate developments in Los Angeles. She then founded Boatsetter which grew under her leadership into the world’s leading marketplace for boat rentals – now offering 50,000+ boat listings across 700+ locations worldwide.

Now at IDC Ventures, she channels this wealth of entrepreneurial and corporate experience into supporting other founders. Her role enables her to leverage the lessons learned from scaling Boatsetter, securing funding rounds, and navigating the challenges of entrepreneurship to help innovative companies thrive. With a focus on fostering the next generation of entrepreneurs, Jaclyn is helping shape the future of venture capital by driving growth and strategic leadership across IDC Ventures’ diverse portfolio.

Can you tell us about what a typical day might look like as Managing Partner at IDCV and how it compares to a typical day as a founder?

As a Managing Partner, my day is often divided between high-level strategic decisions and hands-on operational work with our portfolio companies. This is not unlike my days as a founder, where I had to constantly shift between visionary leadership and execution.

Also, as both a founder and a Managing Partner for a fund, you are always raising money! The key difference between my work as a founder and my work as a Managing Partner at IDCV is the scope. As a founder, I was entirely focused on Boatsetter. Now, I manage a diverse portfolio of companies, working with multiple teams to help them achieve their goals. I spend a lot of time evaluating potential investments, connecting with capital networks, and supporting founders in their growth journeys.

As a founder, you need to think like an investor to ensure long-term growth. And as an investor, you need to empathize with the operational challenges that founders face. Both roles require resilience, adaptability, and a long-term view of value creation.

Could you tell us about a significant moment in your career that changed or shaped your trajectory for the better?

One pivotal moment was the merger of Boatsetter and Cruzin. It was about consolidating market leadership and positioning the company for future growth. The challenges of bringing two companies together – aligning teams, integrating cultures, and merging visions – shaped my approach to leadership and reinforced my belief in the power of collaboration and strategic risk-taking. This experience was instrumental in preparing me for my current role, where I work with multiple companies to drive growth and achieve strategic goals.

Could you tell us a bit about a challenge you’ve faced in your career, how you navigated it, and what you learned from it?

Securing the first major round of funding for Boatsetter was one of the toughest challenges I faced. As a first-time, female CEO, I quickly realized that traditional institutional investors were not as receptive to my vision for the company. The odds were stacked against me – not just because I was a newcomer to the world of venture capital, but also because it’s harder for women to get investors to back a concept that’s still in its early stages. I needed more than just a story or a dream to convince them – I needed to prove an undeniable product-market fit.

When the typical routes to capital closed off, I had to get creative. Rather than giving up, I formed strategic partnerships with leading marina owners and operators. These partnerships enabled me to access the services and infrastructure that I would have used investment capital for, effectively keeping the company afloat without direct funding. This non-traditional approach gave us the runway we needed and also validated the concept through real-world usage.

That experience taught me the importance of resilience and thinking outside the box. Sometimes, when the conventional paths aren’t available, you have to create your own. That lesson has stayed with me, and it’s something I now share with other founders: there’s always a way forward, even if it doesn’t look like the path you originally envisioned.

You’ve been growing your own business alongside your move into venture capital. Could you tell us something you wish you had known at the start of your journey as a founder?

I wish I had understood the value of building a strong, diverse team from day one. Early in my journey, I believed I could shoulder much of the responsibility myself. However, over time, I learned that surrounding yourself with the right people – who bring different perspectives and skills – is crucial to scaling successfully. The same lesson applies in venture capital: investing in the right teams is often more important than the initial product itself.

There’s a funding gap between male-founded and female-founded companies in the US and the UK. Do you have any advice for young women looking to start their own businesses or move into venture capital?

My first piece of advice is to deeply understand the metrics of your business. As a female founder, you’re often held to a higher standard, and investors will expect you to know your numbers inside and out. While storytelling and vision are important, they won’t be enough on their own. You need to demonstrate an undeniable product-market fit with clear, measurable results.

I also encourage women to build strong networks and seek out mentors who can offer guidance and open doors. Surround yourself with people who believe in your vision but will also challenge you to think critically and strategically. Resilience is key – there will be setbacks, but each challenge is an opportunity to learn and grow.

Lastly, don’t be afraid to think big. The funding gap is real, but the more women who step up and create successful businesses, the closer we get to closing that gap. Show the market that you belong at the table, not just through passion, but by delivering tangible results.