Reflections from the Citizens Private Bank 2026 Women in Venture Retreat

The Women in Venture Retreat, hosted by Citizens Private Bank, has grown over the last five years into a defining gathering within the venture ecosystem. This year's conference, held at the Ritz-Carlton Bacara in Santa Barbara, expanded in scale and depth, bringing together a curated group of GPs and LPs for a few days of in-depth conversations and informal moments of connection.

The progression of the retreat has been remarkable. The network of influential women continues to deepen, and the mix of participants reflects a broader range of experience across venture capital.

That momentum has built alongside a meaningful shift in the market. Amid continued liquidity constraints, exit timelines have stretched and fundraising processes that once closed in twelve months are now commonly extending closer to twenty-four, often with smaller-than-target outcomes. Emerging managers are attempting to build in a more difficult environment, with women facing additional barriers.

Firm-building and scale in venture capital

In that context, the importance of this event becomes even clearer. This year's conference met the moment, welcoming one of the deepest groups of panelists to date. Conversations spanned the full universe of VC, from early-stage fundraising to firm-building and sector-specific opportunity, beginning with the first session, 30 Years of Scale. Kate Mitchell of Scale Venture Partners and Carol Womack of Diversified Trust, in conversation with Monique Villa of Daytrip Ventures, reflected on how firms evolve from early fundraising through succession. The themes of persistence, long-term relationship building and evolving expectations across fund cycles resonated in a market where staying power is being tested.

Tax and wealth planning for emerging managers

That perspective carried into Tax & Wealth for the Emerging Manager, where Rick Gordon of Citizens Private Wealth, Jennifer Cuvo of Citizens Trust Company of Delaware, Lindsay Chamings of Andersen Tax and Brittney Kim of Frank Rimerman brought a more technical lens to the same question of durability. Conversations on structure, compensation and liquidity timing highlighted how early decisions compound over time, particularly when visibility into outcomes is less certain.

Fundraising and LP expectations

A more direct view of fundraising challenges came through Get Real with the LPs, with Paige Hendrix Buckner of All Raise, Katherine Rice of Gingerbread Capital and Emily Schiller of Jordan Park offering an unfiltered look at how allocators are approaching commitments today. Pairing mandate fit with a well-defined process remains essential to fundraising, though the path to a commitment is longer and built over many touchpoints.

Career longevity, wellness and support systems

The conversation broadened with Reinvention, Wellness and Balance, as I had the privilege of hosting Sue deTray, Head of Citizens Private Bank, to discuss longevity across a career in venture. The session focused on the importance of building the right support systems and teams over time, with Sue deTray noting that "the conductors are not the best violinists. They are the people who get the best out of the best violinists."

Marketing, positioning and differentiation

Positioning came into focus in Marketing You and Your Firm, where Kate McAndrew of Baukunst and Alexis Contos of Breadwinners discussed how managers are approaching visibility in a more competitive fundraising environment. The emphasis stayed on clear articulation of investment strategy and consistent presence, particularly as differentiation becomes harder to achieve and more important to maintain.

Women's health investment opportunities

The final day shifted toward sector-specific opportunity with What's Actually Working in Women's Health (And What's Worth Billions), moderated by Dawn Dobras of Capital F. Joanna Strober of Midi, Kelly Lacob of Xella, and Tiffany Lester of Function Health discussed where progress is taking hold across data, diagnostics and care delivery. The conversation addressed the historical lack of data specific to women's health and how that gap continues to shape clinical outcomes and company development.

That theme continued in From Signal to Scale, where discussion around Oura Ring traced how the product evolved from early signal, particularly within the biohacker community, into a broader category with an emphasis on empowering women's health decisions with data.

Relationship-building beyond the sessions

These conversations extended beyond formal sessions to the sunset dinner at Vega Vineyard, the poolside gathering and the beachfront morning walk. The structure of the event created space for more candid dialogue and reinforced the connective thread that runs through the conference each year.

In a market where outcomes are less certain, the ability to spend time with peers in a setting built on openness carries real value. We look forward to next year's retreat, where we hope to continue the conversations and build on the momentum created by this year's high caliber of participants and panelists.

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