Ivelisse Rodriguez Simon, Managing Partner, Avante Capital Partners

“I wish I had known from the start of my career that I should have more confidence in myself,” says Avante Capital’s Ivelisse Rodriguez Simon.

But, as she says, when you enter an industry where no one looks like you, it can be challenging.

“Over time I’ve realized that you should never doubt your own capabilities. There may be obstacles, but you can do it. With a lot of luck, hard work and great mentors I’ve made it in this industry, which is hard for women, especially minority women.”

Setting an Example Through Dedication and Success

Not only has Rodriguez Simon “made it” in the industry; she has helped set the standard.

Originally from Puerto Rico, Rodriguez Simon grew up in a low-income neighborhood on the south side of Chicago becoming the first of her family to attend college—the University of Illinois, where she studied finance and accounting. Her journey in the financial world began when she was selected by a professor who would send a handful of students to Wall Street every year to see the financial world firsthand.

While there, she interviewed with Salomon Brothers and received the job. Positions followed in banking and private equity, then a mentor convinced her to apply to business school, and she earned her MBA from Harvard. Shortly after, she and her business partner established Avante Capital Partners, which has grown to become one of the largest women-owned private credit and equity funds.

For the past 11 years they have continued to grow the platform. Today, with a team of 14, the company has invested more than $500 million in 39 small businesses, making strong returns and never losing money on a loan.

As one might imagine, that is the professional achievement Rodriguez Simon is most proud of so far—launching a firm in an industry where there is stunningly little diversity. “Only 1% of the $7 trillion private equity industry is run by women or minorities, and I’m both,” she says. “We get to fulfill our mission every day, promoting diversity in our industry by hiring really talented people who just happen to be women or minorities.”

Finding Multiple Avenues to Increase Diversity

In addition to offering great jobs, Rodriguez Simon has found other ways to pay it forward. She has formed a Small Business Investment Company (SBIC) through a program offered by the Small Business Administration. She is working closely with a number of senators to not only promote more diversity within fund managers, but more importantly to make sure there are more women- and minority-owned businesses that are able to access capital.

“It’s not just a mission, but a passion, and I am really excited about building a pipeline of women and minority fund managers and helping promote diversity within our industry,” she says. As part of this effort, Avante Capital launched its “Small Business Investment Scholars Program” this summer. Nine first generation college students, all women or minorities, were invited to participate in eight-week internships in order to get exposure to finance and break into the industry.

To further build the pipeline, she encourages young professional women to learn as much as they can upfront and develop their technical skills, but she also says it’s important not to quit on the industry. “It’s difficult and challenging, but rewarding in so many ways.” And Rodriguez Simon urges women at her stage to work together to recruit more women, to be intentional and brave about it.

On that note, she believes it’s important to join organizations that support and empower women. Rodriguez Simon has been an active member of the Private Equity Women’s Investment Network, which was founded by Kelly Williams. “She’s a groundbreaking leader in this industry, and after an extraordinary career started this organization whose only mission is to support and advocate for women in private equity management.”

While the industry has not typically been flexible for working women, Rodriguez Simon sees COVID-19 as an interesting test case of what it could be, as there has been resounding proof that yes, you can successfully and productively work from home. “Hopefully the acceptance of remote work that occurred during COVID-19 will have a cross-over effect that will open doors to more women.

“Historically women had to choose between careers and parenthood, and they would usually opt for the latter,” she says, adding that she was able to overcome that choice by creating her own business and making her own rules.

That has led to a healthy work/family balance, which has allowed her to spend more time with her husband and three kids, an 8-year-old and 11-year-old twins. Prior to COVID-19, they enjoyed abundant international travel, visiting Hong Kong, China, Thailand, Japan, Italy, Spain, New Zealand and more. Now, they stick closer to home, exploring California, until it is once again safe to resume those global treks.

“We go with a mission to learn about other people’s cultures,” says Rodriguez Simon. “You can break down a lot of the divides we have in this world when you talk to others and start to realize that at the core, everyone wants the same things.”

by Cathie Ericson