Founding a new VC firm isn’t easy, and one headed by two women is exceptionally rare in the UK. Jessica Rasmussen co-founded Two Magnolias to invest in underrepresented founders and the regions, so she can tell us all about the challenges of founding and building a female-led firm.
Amongst other topics, we talk about:
Jessica’s journey has been really interesting and she gives great insights into what she has learnt along the way. Enjoy!
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Trillion Dollar Coach by Eric Schmidt, Jonathan Rosenberg & Alan Eagle
Jessica Rasmussen is Co-Founder and CEO of Two Magnolias, an early-stage UK venture capital firm established to address structural opportunity gaps within the UK venture ecosystem. Prior to founding Two Magnolias, Jessica spent three decades in investment banking as a Global Markets specialist in Fixed Income. She held senior leadership roles across international markets, including ten years at Bank of America where she led Macro Sales within the Fixed Income Division, covering both Foreign Exchange and Rates. Her career was defined by managing complex market risk, advising institutional clients and building high-performing teams in highly regulated, global environments.
Since co-founding Two Magnolias in 2019 with Marie Korde, Jessica has led the firm from its origins as an angel investment platform to its successful launch as an institutional early-stage venture capital fund. Under her leadership, Two Magnolias completed the final close of Fund I in early 2024, establishing a differentiated investment strategy rooted in conviction, discipline and long-term public value. Two Magnolias was purpose-built to support underrepresented founders developing solutions in sustainability and human health, exclusively within the UK. Jessica has played a central role in shaping the firm’s investment philosophy, governance and market positioning, ensuring that female and ethnically diverse founders are afforded equal access to capital, credibility and decision-making power. A recognised advocate for diversity and inclusion across the UK venture and private equity landscape, Jessica is committed to demonstrating that inclusive capital allocation is not only a social imperative but a driver of stronger innovation, better risk-adjusted returns and more resilient economic outcomes.
Disclaimer
Please note this podcast/interview does not constitute a financial promotion and is provided for informational purposes and should not be construed as an invitation or offer to buy or sell any investments. Please be aware that investments into unquoted companies are high risk, long term and illiquid investments. Your capital is at risk. Past performance is not a reliable indicator of future performance. Target returns are not guaranteed and forward looking statements are illustrative only and must not be relied upon. Investors should only invest on the basis of reading the full offer documentation. Listeners must make their own independent decisions and obtain their own independent advice regarding any information, projects, securities, tax treatment or financial instruments mentioned herein.
