Unlocking Private Markets: How Access and Innovation Are Changing Wealth Investing

Curious about the future of venture capital and how individual investors can break into private markets? On this episode of Female VC Lab, co-founder and president of XA Investments, Kimberly Flynn, reveals the game-changing innovations allowing retail investors to participate in private equity and venture capital. From the evolution of private funds to emerging opportunities and risk-mitigating strategies, this episode is packed with actionable insights for anyone interested in advancing their investment portfolio. Don’t miss Kimberly’s guidance on market trends, fund structures, and how the landscape is opening up for broader access—you’ll come away with a fresh perspective and practical tips for navigating the new world of investing.

Guest Information

Guest Name: Kimberly Flynn
Bio: Kimberly Flynn is co-founder and president at XA Investments, an asset manager and consultant based in Chicago. With over 25 years of industry experience, she specializes in building high-performing products for individual investors and helping firms enter the private wealth space.

Links:

• XA Investments: xainvestments.com
• Kimberly Flynn on LinkedIn

Episode Outline

1. Mission & Inspiration
Discover Kim’s journey from investment banking to founding XA Investments, and how the mission to open up access to private market strategies for individual investors drives her work.
More about XA Investments

2. Demystifying Private Markets & Fund Structures
Learn how the private equity, real estate, and infrastructure markets operate for endowments and pension funds, and how new products—including evergreen funds—are making these opportunities accessible to retail investors. [05:26]

3. The Future of Venture Capital & Accessible Portfolio Allocations
Get Kimberly’s predictions for the next two years: how risk-mitigated and diversified fund structures are transforming access to venture capital, and ways investors can participate in emerging themes like AI. [12:13]

Related Episodes & Additional Resources

• Books & articles:
  • The Tattooist of Auschwitz (personal recommendation)
  • Financial Times, The Economist, Barron’s, CityWire, Wealth Management
• Industry tools:
  • FundFire, Ignites

Host & Show Info

Podcast Website: femalevclab.com

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Transcript

For a full transcript of this episode, visit:

Discover how an accidental career leap led to investing across global gaming, consumer apps, and beyond. In this compelling episode of Female VC Lab, Barbara Bickham sits down with Phylicia Koh, GP at Play Ventures, to unpack the journey from startup growth roles to leading one of the most forward-thinking early-stage funds in gaming and consumer tech. Whether you’re a founder, investor, or aspiring VC, this episode is packed with insights on embracing serendipity, the evolution of VC, and the art and science of finding product-market fit.

Why listen? You’ll learn what makes a VC distinctive, how Play Ventures disrupts itself, and why consumer apps are the new frontier for gaming’s best practices. Phylicia Koh also offers a candid look at founder hustle, the realities of raising VC money, and bold predictions about the future of venture capital—including the rise of new investment vehicles and retail investor participation.

Guest Information Guest Name: Phylicia Koh

Bio: Phylicia Koh is a General Partner at Play Ventures, an early-stage global venture fund focused on gaming, consumer apps, and infrastructure. Drawing upon nearly a decade in startup growth and product leadership, she brings a unique founder’s eye to investing, prioritizing curiosity, adaptability, and operational experience.

Links:

• X: @pphyl
• LinkedIn: https://www.linkedin.com/in/phyliciakoh/
• Play Ventures: https://www.playventures.vc/

Host & Show Info Host Name: Barbara Bickham

About the Host: Barbara Bickham is the Host of the Female VC Lab and an experienced technologist, investor, and advocate for diversity in early-stage startups.

Podcast Website: https://femalevclab.com

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Join the conversation: Comment on LinkedIn, send us a message, or share your key takeaways using #FemaleVCLab.

Share this episode with a friend! If you enjoyed it, tag us on social media and let us know your favorite takeaway.

In this episode of the Female VC Lab podcast, host Barbara Bickham sits down with Kristina Chapple, General Partner at 11 Tribes VC. Kristina shares her journey into venture capital, driven by a passion for supporting founders beyond just financial returns. She discusses 11 Tribes’ unique thesis: investing not only in business outcomes but also in founder well-being, allocating capital specifically for founder resilience initiatives such as coaching, therapy, and even marriage counseling.

Kristina dives into why a founder’s personal health, relationships, and identity are crucial for long-term business success, and how 11 Tribes underwrites for sustainable, middle-market exits rather than chasing billion-dollar unicorns. The conversation touches on industry shifts, with founders raising less and pursuing earlier, impactful exits. Kristina also shares her current reading—Katherine Graham’s autobiography—and reflects on identity and confidence themes that resonate both with her work and personal growth.

Tune in for an insightful look at how venture capital can evolve to truly put founders first, and why “founder outcome” might just be the next big metric in investment success.