A STUDENT-RUN VENTURE CAPITAL FUND FOR EARLY-STAGE UNIVERSITY OF HAWAI‘I-AFFILIATED COMPANIES
The goal of the Calvin Shindo Student Venture Fund is 1) to enrich student learning by providing a hands-on opportunity to learn the venture capital process and, 2) to nurture high potential, early-stage ventures. Student leaders learn how to make scrupulous investment decisions, negotiate, and structure transactions, all closely mimicking the real world. In addition to providing a unique educational opportunity, the Fund encourages UH entrepreneurs to give their companies a go by providing strong access to seed capital. A Fund Board made up of experienced investors oversees the investment process conducted by the student leaders.
Previously called the Hoku Scientific Microloan Fund, this program is made possible by the generous gift of Dustin Shindo, the founder of Hoku Scientific. In 2021, the loan program was revamped into an equity investment fund and named in honor of Calvin Shindo, Dustin’s father. Read press release.
Fund Board Members are secured by PACE
Screening Committee Co-Directors are selected by PACE from nominations
Screening Committee Associates are selected by student Co-Directors with input from PACE
Fund Recipients are recommended by the Screening Committee with final approval by the Fund Board
Questions? Email fund@hawaii.edu.
A STUDENT-RUN VENTURE CAPITAL FUND FOR EARLY-STAGE UNIVERSITY OF HAWAI‘I-AFFILIATED COMPANIES
The goal of the Calvin Shindo Student Venture Fund is 1) to enrich student learning by providing a hands-on opportunity to learn the venture capital process and 2) to nurture high potential, early-stage ventures. Student leaders learn how to make scrupulous investment decisions, negotiate, and structure transactions, all closely mimicking the real world. In addition to providing a unique educational opportunity, the Fund encourages UH entrepreneurs to give their companies a go by providing strong access to seed capital. A Fund Board made up of experienced investors oversees the investment process conducted by the student leaders.
Previously called the Hoku Scientific Microloan Fund, this program is made possible by the generous gift of Dustin Shindo, the founder of Hoku Scientific. In 2021, the loan program was revamped into an equity investment fund and named in honor of Calvin Shindo, Dustin’s father. Read press release.
Fund Board Members are secured by PACE
Screening Committee Co-Directors are selected by PACE from nominations
Screening Committee Associates are selected by student Co-Directors with input from PACE
Fund Recipients are recommended by the Screening Committee with final approval by the Fund Board
SCREENING COMMITTEE
The Screening Committee is made up of UH students from various backgrounds and skill sets who are deeply passionate in early-stage investing; interacting with startups and venture capitalists; and learning how to identify and help build promising young companies. Prior experience in entrepreneurship or finance is not required to join the committee. Serving on the committee is a transformative learning experience. Students gain outstanding leadership, analytical and interpersonal skills. The screening committee is overseen by a Fund Board made up of advisors who are veteran private equity, venture capital, or institutional fund investors, and PACE staff.
The screening committee has responsibilities over the entire portfolio management process including:
- Actively look for entrepreneurs seeking pre-seed funds to turn big ideas into exceptional companies
- Screen applications rigorously
- Conduct appropriate due diligence on student venture investment opportunities
- Negotiate and structure seed investments in UH ventures up to $5,000 per investment
- Manage and track quarterly progress of investment portfolio
In addition to attending regularly scheduled meetings, committee members will spend considerable time marketing, identifying, qualifying, and recommending investments, as well as following-up with existing portfolio companies. Since the Fund is a transaction-based program, committee members should be aware that there may be times of intense activity and that they will be expected to work within tight deadlines, including evenings and weekends. Students who fail to fulfill their responsibilities may be removed at any time.
- 2 Co-Directors
- 10 Associates
The student Co-Directors team up as the executive leadership of the screening committee. Together, they manage the entire investment process guiding the committee to make thoughtful investments and manage the portfolio wisely. The co-directors report to and submit their recommendations to the Fund Board for review and final approval. Co-directors onboard a team of associates, who will learn the leadership, strategic planning, management, accountability, and delegation skills necessary to carry out their responsibilities. Student co-directors will learn how to manage to ensure that the Fund is successful and that the committee members have a positive and rewarding experience.
Term: Summer 2023 to Spring 2024
Student Associates are core to the entire investment process. Associates report to the co-directors, and contribute to key efforts including marketing, research, screening, due diligence, negotiations, investment structure and portfolio management. Associates have the opportunity to learn specific skill sets and what it takes to be a high-performance team member. Associates are selected by the co-directors with input from PACE.
Term: Summer 2023 to Summer 2024
SCREENING COMMITTEE
INVESTMENTS
The Calvin Shindo Student Venture Fund makes investments up to $5,000 in UH-affiliated companies that intend to generate profit. Funding will be in exchange for equity positions within the respective companies, subject to the regulations of law and such reasonable limitations as may be imposed by the UH Foundation. Apply by February 24 for consideration in the upcoming Spring 2023 review cycle.
A member of the venture’s founding team must include one of the following:
- Full-time or part-time, undergraduate or graduate student enrolled in a degree-seeking program in any of the 10 community colleges and universities within the University of Hawai‘i System. Recipients must provide proof of enrollment.
- Alumnus (within 5 years of graduation) of any of the 10 community colleges and universities within the UH System.
- Student or faculty licensee of UH technology.
UH faculty-run ventures are also eligible to submit an application, as long as the student and alumni team members meet the preceding criteria.
Investments of up to $5,000 are available per venture. Ventures must intend to generate profit. In total, up to $25,000 per year will be awarded from the Fund.
Any investment returns are reinvested in the fund.
PACE encourages all companies and entrepreneurs affiliated with UH to apply for funding. Applications are reviewed on an ongoing basis. Apply by February 24 for consideration in the upcoming Spring 2023 review cycle.
- Complete the application form
- The screening committee contacts applicants and performs due diligence
- The screening committee presents their recommendations to the Fund Board
- The Fund Board approves/declines the recommendation
- The screening committee notifies applicants of investment status
- The Calvin Shindo Student Venture Fund represented by the UH Foundation makes the investment
- The company joins the Calvin Shindo Student Venture Fund portfolio
- The company is responsible for completing quarterly reports and maintaining open communication as would be expected in any equity investment.
FUND BOARD
A Fund Board oversees the Screening Committee and provides guidance to students in their decision-making regarding screening, selection, structuring, and management of investments. The board consists of PACE staff members and representatives from the investor community including professionals with experience in private equity, venture capital, or institutional fund management. The board meets regularly to review and approve investments proposed by the Screening Committee.
FUND BOARD
in Partnership with
phone: (808) 956-5083
fax: (808) 956-5107
email: pace@hawaii.edu
in Partnership with
phone: (808) 956-5083
fax: (808) 956-5107
email: pace@hawaii.edu
University of Hawaiʻi
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