Techstars has named a new managing director for its Minnesota-based accelerator programs.
Sarah Bain, an experienced leader in the venture capital space, has taken on the top seat in both of Techstars’ local programs, Farm to Fork and Minnesota Twins Accelerator, the global investment firm told Minne Inno.
Bain replaces Brett Brohl, who has led the programs since the Farm to Fork accelerator, which centers on food- and agriculture-tech startups, launched in 2018. He also led The Minnesota Twins Accelerator for startups that focus on the fan experience in sports and entertainment technology, which was created in 2021.
Brohl will move into a part-time role with the programs as an entrepreneur-in-residence, Techstars says.
“This is an exciting period for Techstars,” Brohl said in a statement. "Sarah has a tremendous amount of experience scouting and identifying entrepreneurial talent and will make sure that founders that come through the Techstars Minnesota programs will continue to add to the Minnesota startup ecosystem.”
Bain most recently served as a venture principal for Techstars, with a total of seven years of experience with the firm, working on both the program level and within the investment team. Bain started her career with the firm as a program manager for the Minnesota-based Techstars Retail Accelerator, in partnership with Target, which ended in 2018.
During her tenure with Techstars so far, Bain has worked with hundreds or founders, managed a portfolio of more than 150 investments, sourced and invested in multiple early-stage companies and mentored founders across the U.S., the firm says. Prior to joining Techstars, Bain worked at a New York City-based invention startup Quirky.
“I love what I do — working with startup founders not only energizes me but also allows me to grow. I am thrilled to be able to bring those learnings to the founders who join us at the Techstars Minnesota program,” Bain said in a statement.
The Minnesota ecosystem has grown significantly over the years, Bain said in an interview. "I'm really loving seeing how it's really starting to thrive."
Bain’s appointment moves the needle toward having more women in decision-making roles, she said. Only about 14.3% of decision makers at venture capital firms are women, according to a Crunchbase analysis by All Raise, an organization with programs to support female and non-binary founders and founders.
"If we want to see change and more female-led companies getting funded, we have to have more females writing the checks and being in decision-making roles," Bain said.
Bain was recently named one of the Business Journal’s 2023 40 Under 40 honorees.
