University of Washington students step into the ‘VC mindset’ — and compete on a global stage

It’s not easy figuring out the ins and outs of venture capital without founding a startup or landing a gig inside an investment firm.

That’s what makes a class at the University of Washington’s Foster School of Business valuable for students who get a taste of the VC world.

The 10-week course teaches the mechanics of the venture capital industry and culminates with an internal competition where students assume the role of investors and listen to startup pitches from entrepreneurs before making an investment decision — all within 36 hours.

The winning team represents the UW at the Venture Capital Investment Competition (VCIC). The UW this year advanced through the regional competition and finished third in the global finals — its best performance since 2015.

“What made this experience really special was getting to work on real-world problems, step into the VC mindset, and collaborate with people from diverse backgrounds,” said Fargol Araghi, a PhD student in biotech. “I learned how to look at a startup from different angles, team, traction, risks, market size, and make decisions under pressure.”

Longtime Seattle venture capitalist James Newell has taught the MBA class for the past seven years. Newell — a UW grad himself who played football on Montlake — said he was impressed with how this year’s team combined a wide variety of skills and domain expertise.

“None of them had prior VC experience, but they dug in quickly and developed fluency in the language of the VC industry, and how to apply the frameworks they learned,” Newell said.

The students learn how to analyze financial forecasts, cap tables, IP details, term sheets, due diligence, and more. They also get a feel for the soft skills of VC.

“I have come to realize that venture investing is just as much about people as it is about business metrics,” said Ankit Anand, an engineer who previously led business development at a startup. “It was interesting to see that it’s also a sales job in disguise; you’re constantly evaluating founders on parameters beyond initial traction, reading between the lines, and building relationships to win the right deals.”

Some students may choose different career paths that don’t involved startups or VC. But the class, which also included mentorship from several Seattle-area investors, provides a unique inside look at innovation. Many said it was one of the most valuable parts of their academic experience.

“Participating in the VCIC competition was by far the most challenging and rewarding experience of my MBA journey,” said Nick Bedbury, who previously founded a Seattle startup. “It fundamentally shifted my career perspective and ignited a passion to help grow our local startup ecosystem and foster entrepreneurial talent in our community.”

Other students on this year’s team included Jaisav Bajoria, an automotive engineer and product leader, and Ilya Veil, a biochemistry PhD candidate.

Related: College students get a taste of startup life inside dynamic UW entrepreneurship class