Astia Appoints Larry Bettino as Chair of the Board Copy
FOR IMMEDIATE RELEASE
SAN FRANCISCO, CA — October 13, 2020 — Astia, the global organization that levels the investment playing field for entrepreneurial teams with women leaders, today announced the appointment of Larry Bettino as the Chair of its Board of Directors. Bettino, most recently a Director at TD Ameritrade and a partner at StarVest Partners, a New York technology venture firm, has served on the Astia board since 2018. Bettino replaced Jamie Lerner, CEO and President of Quantum Corp., who served on the board since 2011.
“I’m honored to Chair an organization as vital and influential as Astia which is committed to the transformation of the investment industry,” said Bettino, “Women have earned and deserve much more support than they now received from the investment community. I see Astia’s work to change this condition as critical and even more relevant in this demanding moment.”
This announcement coincides with the publication of The Intelligent Investor: Silicon Valley that features a chapter written by Victoria Pettibone, Managing Director of Astia. The organization has grown to become an active investor into companies that include women leaders and has demonstrated the validity of the investment thesis by returning capital to investors.
Astia launched its investment activity in 2013 with a network of family offices and individuals making deal-by-deal direct investments that are sourced and screened by the Astia investment team. To date, Astia investments total more than $26 million into 54 companies alongside more than $430 million in syndicate funding for these companies. The organization also has launched a venture fund that recently warehoused its first investment and intends to invest in 12-15 additional, high-growth companies led by women.
“Just this week Pitchbook’s headline announced that VC investment in women was at a three-year low,” said Sharon Vosmek, CEO of Astia. “Astia continues to source and screen a proprietary pipeline of investments due to this blind spot in the industry. Our performance as investors is a direct result of this, and the exceptional nature of our portfolio CEOs.”
“It’s been an honor to serve on the Astia’s board for almost ten years, during which time we’ve generated millions of dollars of funding for companies led by women,” said Lerner. “Larry’s investment experience will be invaluable to continuing Astia’s important work. Though the time has come for me to hand over the reins, my commitment to diversity and inclusion will continue at Quantum, where championing women in technology and leadership is ingrained at every level of the company.”