Thomson Reuters Ventures (TRV) is a venture firm that invests in companies at the seed and series A stages building in tax, legal, fraud, risk, compliance, insurtech, and fintech. The firm has the full backing and resources of Thomson Reuters. Pulse 2.0 interviewed Thomson Reuters Ventures Managing Director Tamara Steffens to learn more about the firm.
Tamara Steffens’ Background
What is Steffens’ background? Steffens said:
“I’ve spent the last 20 years leading early-stage startups toward revenue and users, with six exits, four companies sold, and two successful IPOs. The last company was Acompli (Outlook Mobile for iOS and Android) and was sold to Microsoft, where I lead business development for the company’s productivity apps, mobile apps and global education technology.”
“After helping M12 (Microsoft’s Venture Fund) get established, I led the team through investments in North America and India. In January 2022, I was asked to start Thomson Reuters Ventures (TRV) where I currently lead the Global Investing team. I’m proud to share that my team has completed 17 investments in the first two years of the fund’s existence.”
Evolution Of Thomson Reuters Ventures’ Thesis
How has your firm’s thesis evolved over time? Steffens noted:
“We have definitely leaned into AI but with a vertical lens which aligns to Thomson Reuters’ key segment focus. AI is perfect for the tax and legal industries, two areas which have quickly benefited from early stage AI technology.”
Favorite Memory
What has been your favorite memory working for your firm so far? Steffens reflected:
“Without question, my favorite TRV memory thus far has been the unique opportunity I was given to start the fund from scratch, teaming up with our engineering and product leads for diligence, and getting the entire operation off the ground. We have also had one of our early stage investments go from Seed to Series A in less than one year with a 5X mark-up.”
Significant Milestones
What have been some of your firm’s most significant milestones? Steffens cited:
“TRV just hit our two-year anniversary and we are on track for continued upward momentum thanks to the incredible support from the entire organization.”
Investment Success Stories
After asking Steffens about investment success stories, she highlighted:
“One of my biggest pieces of advice to others in the field is to invest with a financial lens in technology that you understand. One of my first investments early on in my career was Kahoot, which was primarily used in Ed Tech. I was leading Ed Tech at Microsoft and was able to talk with a lot of teachers through that experience –– anytime I brought up Kahoot, they all shared how they were using the tech and how much the kids loved it. That was an easy investment decision and in turn provided a 53x return to the fund four years later. My daughter is now a teacher and she still uses Kahoot in her classroom!”
Challenges Faced
What challenges has Steffens faced while working at the firm? Steffens acknowledged:
“Like any large company, getting everyone to understand an investment can sometimes take time. That said, at TRV we have an internal goal of doing diligence in six weeks or less and we have been able to make that happen every time.”
Future Goals
What are some of your firm’s future goals? Steffens concluded:
“Two key goals of mine are to return the fund and bring early tech signals into our product and engineering teams.”
