Student Spotlight with Heston Berkman

STARTING UP: Heston Berkman, who recently graduated from Penn as part of the Class of 2015, is a managing partner at Dorm Room Fund (DRF). Launched in September 2012, DRF is a student-run venture capital group that invests in student-led startups.

SECOND TRY: Berkman didn’t make the cut on DRF’s managing team the first time around, but after securing an internship his junior year with First Round Capital, the venture capital firm that initially funded DRF with $500,000, he was able to garner the connections and know-how to land a spot on the team.

EXPANSION AND EXITS: DRF has expanded over the years to three additional cities, including Boston, New York, and San Francisco. To date, the student-led firm has invested in roughly 80 businesses across the country, and has one exit under its belt: tech startup Firefly, which was created by three Penn students.

SECTOR AGNOSTIC: DRF invests in everything from marketplaces to data analytics tools to healthcare initiatives. “We don’t focus so much on a particular sector,” Berkman says. “We believe in investing in the best teams and the best ideas that can be built into massive businesses.”

DIFFERENT PATH: “A lot of people usually say they’re going to build a company and then they go into [venture capitalism],” Berkman says. “For me, I like the idea of going into VC first, understanding from those that have worked on companies in the past.” Berkman adds that he does see himself starting his own company at some point. But, for now, he’s focused on plans after graduation. He’s already secured a position with a New York VC firm.

KEEPING CONNECTED: DRF provides an incredible networking platform. “When you’re trying to build a career in venture capital or in technology, it’s important to understand and know your peers, considering that they are the next generation of entrepreneurs,” Berkman says. “This is one of the goals that we hope to achieve with DRF. We want to get to know these people who are building, breaking, and learning on a daily basis.”

MAKING TIME: Berkman says whether he’s busy or not, he’s always available. “If anybody ever wants to reach out, get coffee, talk about tech, music, whatever it might be, I’m happy to hear their thoughts, always,” he says.

PENN PARENTS: The Haverford, Pa., native’s parents both went to Penn. Although Berkman had free rein to go wherever he’d like, he said he chose Penn “because I knew the student base would push me to make a difference.”

Heston Berkman