Episode 9: Capital with a Conscience: Sydney Thomas on Rethinking Venture for the 99%

Episode Summary

In this episode of Live with Living Cities, host Justin Charles speaks with Sydney Thomas, Conductor at Symphonic Capital, about reimagining venture capital to serve the 99%. Sydney shares how her personal journey shaped Symphonic’s mission, why intentional growth strategies like seed-strapping matter, and the role of storytelling and representation in building inclusive ecosystems.

She also spotlights investments like Canopie, Scout, and Lōvu Health, showing how Symphonic ties business success to social impact. The conversation closes with Sydney’s advice for founders and investors, and her vision for the legacy Symphonic Capital will leave.

👉 Learn more at symphoniccapital.com and livingcities.org

Key Topics Discussed

• Sydney’s Path to VC:
  From public policy and NYC government to business school and a decade in venture, Sydney built Symphonic Capital after a rigorous “trial by fire.”
• Launching in a Tough Market (2023):
  She raised Fund I in one of the hardest fundraising years, navigating LP overallocation and rate shifts to assemble the right long-term partners.
• Symphonic’s Investing Focus:
  The fund targets post-product, pre–product-market-fit startups—hands-on support to refine sales, find fit, and accelerate disciplined growth.
• “Seed-strapping” Philosophy:
  Sydney advocates raising only what you need, scaling intentionally, and avoiding hype cycles to preserve optionality and reach profitability.
• All Investing Has Impact:
  She urges investors to measure the real-world effects of every check—because the impact exists whether you account for it or not.
• Role of Philanthropy & Collaboratives:
  Mission-aligned LPs (like Living Cities) can catalyze emerging managers and connect capital with systemic, community-rooted solutions.
• Long-Term Vision for Symphonic:
  Build an excellent, returns-driven firm and a “symphony” of diverse, first-chair talent whose combined strengths outperform over decades.