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Toby Clarence-Smith

Toby Clarence-Smith

Mexico City, Mexico
Member since August 22, 2016
Toby is the founder of Petsy, one of Mexico's leading eCommerce companies, backed by the region's top VC funds. As he transitions out of day-to-day operations from his company, Toby likes to freelance on projects where he can add significant value, such as financing related projects, market research, and valuation analysis. Toby has worked extensively with senior executives at VC- and PE-backed high growth companies in Europe and Latin America.
Toby is now available for hire
Career Highlights
Education
Case studies
Industry Expertise
  • Financial Services
  • Retail & Wholesale
  • Venture Capital
Software Expertise
  • Bloomberg
  • Capital IQ
  • Microsoft Excel
  • Microsoft PowerPoint
  • Prezi
Employment
  • Investor
    2016 - PRESENT
    Mountain Nazca
    • Managing portfolios.
    • Fundraising for our second fund.
    • Originating new deals and performing the corresponding assessments.
    • Putting together our investment thesis for the bitcoin, blockchain, and digital currencies sector.
    • Originating exit opportunities for our portfolio companies.
    Focus areas: Technology, Mergers & Acquisitions, Fundraising, Growth Capital Raising, Startups, Venture Capital
  • Co-Founder | CEO
    2013 - 2016
    Petsy
    • Launched one of the most respected and successful startups in the country, receiving multiple rounds of investment from the top venture capital funds in the country.
    • Built an extremely loyal customer base with incredibly high net promoter scores.
    • Oversaw an expansion from a 3 person team to a 40+ person team.
    • Managed the entire development of the technology platform across web, mobile web, and native mobile applications.
    • Opened our first retail store to build out a full-service omni-channel retailer.
    • Built all the operating and financial models underlying three rounds of capital raise with Venture Capital funds as well as business plan approval at the board level.
    Focus areas: Retail, Technology, Marketing, Digital Strategy, Business Intelligence, eCommerce
  • Founder Intern
    2012 - 2012
    Linio
    • Led the opening of a warehouse from which we were processing over 1,000 orders a day.
    • Led and managed a UX/UI review with clients and delivered several recommendations to the product team regarding improvements to the platform.
    • Modeled and proposed an optimized customer service team structure.
    • Managed an offline marketing strategy (below the line) for a project.
    • Offered a full-time founder position by the end of my time at Linio, but decided to turn it down to launch my own company.
    Focus areas: Retail, Marketing, Customer Service, eCommerce, Operations
  • Investment Associate
    2010 - 2010
    Bridges Ventures
    • Helped prepare the investment memorandum for an investment in a chain of gyms.
    • Oversaw incoming business plan proposals and appraisals.
    • Built a detailed store rollout financial and execution model for one of the portfolio companies.
    • Helped develop the social impact assessment framework.
    Focus areas: Venture Capital, Social Entrepreneurship
  • Assistant Vice President
    2007 - 2010
    Barclays Capital
    • Prepared investment memorandums and credit memos for highly leveraged transactions.
    • Managed portfolios and assessments of loan book portfolios.
    • Created a pitch book for corporate finance and M&A deals.
    • Did extensive valuation and merger analysis.
    • Managed client responsibilities with some of the world's largest private equity funds.
    • Promoted six months early (a highly unusual occurrence).
    Focus areas: Leveraged Finance, Debt Structuring, Corporate Finance, Mergers & Acquisitions, Financial Modeling & Valuation
Other Experience
  • The Most Exciting Asset Class in Private Equity? Search Funds from the Investor’s Perspective (Publication)
    In the current low interest rate environment, investors have been increasingly moving towards alternative asset classes, particularly private equity which continues to attract the lion’s share of investor capital. But could a relatively unknown, niche new asset class hold the key for outsized market performance? In this article, Toptal Finance Expert Toby Clarence-Smith uncovers the world of search fund investing, reviewing some of the key aspects of the asset class from the investor standpoint as well as running through the main benefits of putting money to work in this space.
  • Don't Scale an Unprofitable Business: Why Unit Economics (Still) Matter (Publication)
    With venture funding having grown more than 120% in the US in the last five years, startup founders and investors alike have grown increasingly comfortable with low margin business models. But the successes of the Amazons and Facebooks of this world often mask failure in a slew of other sectors, where the "build it and they will come" model doesn't always work. In this article, Toptal Finance Expert Toby Clarence-Smith brings attention back to the importance of studying a business’ long-term sustainability prospects, with a particular focus on unit economics, one of the building blocks of profitability and breakeven analysis for startups.
  • Amazon vs. Walmart: Bezos Goes for the Jugular with Whole Foods Acquisition (Publication)
    Through its acquisition of Whole Foods, Amazon is not only likely to disrupt the grocery shopping experience but is perhaps embarking on a grander push that could change the entire retail landscape, leaving Walmart on the back foot.
  • Has the US Equity Crowdfunding Market Lived up to Expectations? (Publication)
    Four years on from the signing of the JOBS act, equity crowdfunding remains a small, niche market. In this article, we take a look at the current state of equity crowdfunding in the US and assess some of the challenges the market faces if it wants to grow into its potential.
  • The Impact of Brexit on the Financial Services Sector (Publication)
    Since the historic Brexit vote, much speculation has been made regarding the effects this would have on the UK's economy. In this article, I take a look at what the anticipated impacts of Brexit on the UK financial sector are, assess their merits and likelihood, and see what the long-lasting impact on the financial sector around the world may be.
  • The Party Isn’t Over: A Deep-Dive into Why Unicorns Will Bounce Back in 2017 (Publication)
    Between 2013 and 2015, the number of Unicorns exploded to 140 members, marking an incredible growth spurt in valuations and positive sentiment toward the venture industry. But after a rocky 2016, in which scandals, funding downrounds, and more cautious investor commentary emerged, many have questioned the validity of the sector’s valuations. With this backdrop, 2017 is shaping up to be a make-or-break year for the Unicorn Club. Is the party over?
Education
  • Master of Business Administration (MBA) in Finance
    2010 - 2012
    The Wharton School of the University of Pennsylvania - Philadelphia, PA, USA
  • Bachelor of Science in Economic History (Economics)
    2004 - 2007
    London School of Economics and Political Science - London, England
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