How Deborah Farrington achieved success in the financial sector
Deborah Farrington is an authority in financial circles. She is a general partner and co-founder of venture capital firm StarVest Partners. There are very few female leaders in this field, and each of them has come a long way. Farrington is one of them.
Her father, who worked at Lehman Brothers, influenced Deborah’s career choice. He introduced his two daughters to finance from an early age. Deborah’s first visit to the New York Stock Exchange was at the age of ten, and she was captivated by the atmosphere. Even then, however, she noticed that there were no women brokers. The situation has improved considerably since the 1960s, but not enough. Today, only 6% of venture capital partners are women.
First steps on the road to success
Farrington graduated from college in the early 1970s and took a job at Chase Manhattan Bank. The company offered training to its employees, and Deborah jumped at the chance. She took a course in finance and accounting and decided to move in that direction. The logical step for a woman like her was to study at Harvard Business School. At HBS, Deborah took a course in finance and graduated with an MBA in 1976.
Her training enabled her to take up a position as an investment banker at Merrill Lynch. Here, she gained valuable experience in analysing the stocks and bonds of various companies. At 30, Deborah demonstrated her management skills by becoming head of one of the company’s divisions. She was involved in strategic planning and business process development.
After 10 years with Merrill Lynch, Deborah moved to an investment bank in Hong Kong. The late 1980s was an essential period for the Asian economy, providing Farrington with invaluable experience. It was then that she decided to try her hand at running her own business.
Own business
Together with friends from HBS, Farrington founded Victory Ventures. In 1998, StarVest Partners came into existence. Deborah herself played a significant role in the development of the business. In 1999, the founder of a small start-up called NetLedger approached her with an opportunity to become a venture capitalist. In addition to Farrington, Oracle founder Larry Ellison invested in the new venture. NetLedger became one of the first companies in the SaaS market. Many people refused to fund such a risky venture, but Deborah took the plunge. The wise investment in the start-up became one of the most successful of her career. They brought her recognition in financial circles and a large fortune.
Moreover, the development of such companies is one of Farrington’s merits:
– Fieldglass;
– iCrossing;
– Host Analytics;
– Insurance.com.
StarVest’s core strategy is mergers and acquisitions. The firm takes companies to the next level and generates income from their sale. The venture capital firm specialises in the technology and innovation sectors.
