Being able to talk to your co-founders is critical because the only people who understand your world are other entrepreneurs.
Maureen Fan
CEO and Co-Founder of Baobab Studios
When Maureen Fan went hunting for venture capital for her virtual reality animation studio, she put in the pitch deck that she wanted to “bring out the 5-year-old” in adult audiences.
She also told potential backers that VR is the future of animation, but it may take a little longer to get there than others expect. Some VCs were surprised, but she countered that she wanted them to know that “I am being realistic about it…and I am prepared.”
Striking a balance between creative and business happens daily for Fan, who is co-founder and CEO of Baobab Studios. “I do feel like there are two sides that are always warring with each other: It’s the left side of the brain versus the right side of the brain.”
Maureen Fan
CEO and Co-Founder of Baobab Studios
Fan first went with her creative side, working at Pixar. The then-CFO would describe how he felt “saying yes to a film about rats wanting to cook or half-silent film about robots falling in love?’ And the artists would say ‘they just want to kill our creativity.’”
Determined to make the best of “the healthy tension,” Fan went to business school. Today, she firmly believes that in film “quality drives business metrics, and that quality is created through collaboration.”
Her practical side is what has helped her raise VC money for Baobab Studios, and as one of the very few female CEOs of a virtual reality studio, and the only of an animated VR studio, she has hit her stride.
At Baobab Studios, she says having a strong team at her side provides balance and strength. “Being able to talk to your co-founders is critical because the only people who understand your world are other entrepreneurs,” she says. Together, they draw on each other’s strengths to develop ideas and technology.
In making choices to help the studio grow, Fan looks for similar attributes in her team of business partners.
After choosing Silicon Valley Bank, she recalls how helpful the bank relationship manager was, every time she called. She helped Fan set up banking accounts and work with payroll companies. “When we needed a special international bank transfer, our rep was there for me within an hour. I could call anytime and she was there,” she recalls.
The relationship goes beyond pure banking. “SVB helps get our name, our brand out there; that is super important,” she says.
Maureen Fan
CEO and co-founder of Baobab Studios