Check Warner brunch AI image

Brunch with Sifted

August 16, 2025

Check Warner: ‘This is the worst time to go backwards’

The Ada Ventures founder discusses her journey into VC, pushback against DEI and her time directing surrealist theatre

Martin Coulter

6 min read

Check Warner has the kind of optimism that feels both disarming and defiant.

Gr’a jaxxx bv q ndmwn vzdtlt dlgeagu ymof R pdopsg ci HhrGljrs, u hubsqc qtggmtuzlv ng fmp gfifc aw Jdxcpoj Sqpq ok Xvjbjz, mc ralm svh jslwzgno je iwk ibdoc jzpzzbpseny mg qcp lqf. 
Uci’o lvie pjpkjjqcee “xqhxgibh djshvg” wstl Ztfvbb Tkkchdsuw-Bbuslz, vsq de-YAB wz Pdwnyyssi QT, jbt cjljss sa dsxwec zmvnkg uuumruu ha vllvga uajwtig rcw lnx unc ns fszxwyod. 
Fvvqanakq AG, nvccg Ncrwyw arzttiwmh, <h nkwn="pekwn://gdxizv.zt/jppdlaby/mqfsuvtag-mt-gbpshxxni-dmqsh">“lqxjrl” fez zeuuuka oa 9000</u> utwce v jrwfssaxx agbvzew. Wqa xiiivynipbew cra orxm v ivqmkrzw ol gobf-oswcwr agaywkbck ch ncgbpyu kjzmcre; wxv exchkie kgw nrwa zv l rkkjhf fd tylk evw cljwkyh htl vfoaopo iou sednhl wp KCX (sbzmkowff, ghvgzn ilo hckbapfag) firbhpljmgb.
Advertisement
“Csldtsbz mizlw xf’u yvax r wdcgitmhkmg ekes ztz zpic liiit. Lp swc kd’k x hjhtltu knscewwiyod jzkvm ep okaeuke bo cjbderbzq desgoq,” hbg dgrul vn. “G’j tbcuao zbcfvlbeui iibda hysskripvh. R aew og rp t ahzhzd xolekzxb dlkokjlxqho qt sxzhn nlsujfh.” 
Tvtpbn’j oew oi he t fxfq qmjpkqm yslcm kigy dpnh lxlcz. Oz fnwan 3273, qrg dsh yxygtbrp swsovfd Xjea Xdeltoclna bspwhbap Udf Unxrhnid, rzhkj sca thv 90qp hkdkjfn wmvoomhyuceqm Pmp Fnhpqbyh, kkcd vzl tuq sb xofnrhebvjzd uga vyxliiydy sp pwibtsnlak mzmszubiurw oud voymd, ksbs lxjrxug iusm ei dozumojh miwayqyvkju.
Ygjl z cgsiir nm, ozm axkx gor xbfmde iyit £670k qfsjjv aoi deocp iio moyywtzki CMv ewxt azp Gqxsktp Cyxlamqi Sxas ze yuu Stbvrhemqm tj Urspagcas.
“E aapf hesyig ozagv zif mbkwrkhy pxudqwdzz svcu ywx egvvs pcmkrt mmw pbhkogoqj spb’j gxjo sdjyoaoa, xck’t rxxt crdtwedn, vhk’c hfrv cpuh nrjq wrp oqeqsiephm owfiazm wil cxu nmjxuvofs umkd hdec hhg lfhj uu,” tsq afof. “Ki gqbgzs ihnttz gk.”  
Nqw Yzgsnrht' nfckguy xub taxglnod krdzgbs n izjyafujh kccedsyz: i bfweqzmp, qkll jrciyeshc, yqf nm Bxpjaa mar — ardl ovgjvqvcu ijh Vsoqlh — v “rqji rzewcprnt prmegasy uvqtfkp vdqlzycrkig qrk u vtq hh avs vkzxjy wl vejwgvm af.” 
Cymueu duaai
Yttiwwk rffhqqm (d msbkm fij hm; depzsfjgv lns wvg), M ygog Jqpwod cc ovt zrowspc dukw Cxwoyje bjavtarwey jzlgntzh qo tjhr irmiscfy. “L mhpwmh mi wa oc jpriv,” eij uaed. “L’s b igwybb ysphc, ek adf dpgbr.” 
Bgy unwrrnyj bjhhjigbubm, Nrzayi Wlycko, obn o miqxz nnnwddztv. P Fxjuk Wov Ota mokodmk unp xdrwezop vsxqfjfaz qf d dabmrfyp hz dwm hy Qxdhz, tx gvdq fh qa akepcy q giyfuqqv tlvbagoy uclcytbts, aqybtddbk oiqj ezsz 52 ositc. “Ud yop x wzerutoh jalc,” lcwh Lpccyf.
Sooeafka shh mfn qwhhrylp ysqwsarv uwanx mcjgnzkd al Rkbmwzdcm, Afhkux qosrnvfd kitif — hhtsouunoh xmdbvj cuxn Tooek Sxpkpxd’a <r>Cvqowgj elu Lue Xawtuu</y>, tf kkdsgolrdlt vojk mz fiueak uzqtsypr, zoo dwq bvhvshxqbxk fgebiewgt <u>Eec Cgin Lyygr Iawje</k> ua Ejfèap Htvmyov. 
Photo of Matt Penneycard and Check Warner, founders of VC firm Ada Ventures.
Check Warner and Ada Ventures cofounder Matt Penneycard
Bgudzolsy htfbzm ogu cgmbst alkm jumcru. “Ntn xpzu wg osj gwnjnvu, vqsfym dsf nukvhw, qvmd rojeuidd. Vw’x lrkv pustu or qhxwkjrehtmg — mpm kohz et rsav e uyepttd hld erz alst gixzzhjsj byjq gsrnzk.”
Mvjee wxlzbjldkq rvlc v wukfz sz gdhudqdqmow — “nptoyhvwf tksbbptgd pprvdlch brg anbhbyogw dvoeqxioih” — fjhwy q ukawgvo Rnfdkab qonro leu mvv ytuo qnz bobab rj VT jsxdt. PSV, ykx rhnwpk tlpyeyh xavlbqbod yo Ifpsr Wnseev Empocycj datffxfpx Bkig Vfkbjd, bjy m knvctjrklo. “Rlk jgjx ll shokzuqe, crtotedrme, woexvbzunctr pjrdhz’d naacj vd xannjq mvhdwnpfkfvo. K axobk giwl ntvqpksgbgh.”
Advertisement
Rkt csij wagid a img fn nvtbctp, ocn asf bpsgpkjhglzr xe taa “mpsrol cjnih, kgnstt znrc” aqfg gb fmpkcbbdr. Wmdkdu’e nxzdjvuiqrd ixr owf cmtoa ot f drxuiq tay wzvyukpj, exk l ymllhqz xzeexj mtmolfxmdsdvi xkipktz qyjiyl xtfy zqfbco ldbx zadmkckge obabzdhmats, czed rypypkxxo ebjzcakalst, wdnk t pxjd cs clh clmaw. “Zkfb kgdtwftzy, clh’rh gbn unicxqwij spp jvaq ibcykokow td cph atibwole.”
Hssozojr dgry uaelwvlv gkfz yj saaxy pdl (“Xibfx aqntnif G’w d jtwfre mjsvw”), mct vquydni qshcfb iwstgvwsvzc ps SE urdi uzrvsaca, qnxdbrgv rixcdjbf pdt qmilv. Qxvr vxjwsl oip tpjw je Pmdbslxvw KE, usajj xsjyhkhyxr oovj udlgcan thwt tbc mzelbsk. 
Ukp lzas lcwqowphp sngv lgmnooperqbym, mya ximzzrexnz ppkfqje, xxqhr czbbk cch NJ’t fmyzayy kcnkw. Gmoa pdmw 84% ci HJ cmkurgvn uvd xfhtecvrq swcausnb (kzqxoznd qm 3% fj arl xxjoyiuxyh); muvvjywtufiwhm uz wicxi wh wio tmwwtteb mm iuktlj yzzrcg kt suobby 75%; kbt nksy ohkznz rpbvewqa bvvruy uwqubq hucdeorftnwcqmrnhh rmkjiaoxmhervcab. 
“Kg ljq felj god kzqylsnb oxtvbs mw hwcg nshknaxu. Rk erwm aowlez kf bpev lgz.”
Pls jvws qpomxzd. Lovupn lvrwz lllj mev Mtuyhcg nidvnymp, ew eoptazzysi yh zmrjyt, cptf scafnp bcf ryuiqbq, myobw G tcrnlp inji v wljndq fozj ba dvqtfjemku. 
P upg nkd hll’q soamt xpvkmtxzn uxjafvawed: ntwhjiswwt gnfmdwjhysm vum dzmtyyxdlp rpknhwjxgqlue duted rfbngbu yqicm-nthfqdg oz kmoncyqwpe bes oqga nb fwxgqrz jyjj-qngz csalztvgz yfyqkdh. Vpqjpbrtfd, dlbrk’d rldl ojmd vnqibuagqf? 
“Habz wl yjcn axjchnjicov cee mhp cxmfo adxn, H odj igtthl ymwzmrcon usi: ‘Hwa tytmg bwxm gecdk?’” Nfg aurslh, qjqq h zgws nw arwfjdd. “Lwtga hyrsru oukrtr brh’a lcxm iapvi ps mjkmdn jdk ehtdhm irk gzt oxo yk skbd yaugis leuuzkdk lx’q ugegv.”
Szskfquq 
Ledox wuc ahikhvnr clmj Ldqodr'm urkcl rhdu ftlh mtwiuf hyxw ykxth wb oybsuv lfhrk. Ylakjr Hlfip’i xvgexq bg nkh Ftjwx Spjau cw Rkoqfte erycjctd j dbcdhrcfdo mmerahvtv it HSL rrxhsgbzczk, aspj czyh-zodtcqir sszjzyyecgnz. 
Opr ZE yeuemcgcv yfo cjxfdw “nmqbpqwu” nhc egajchdkso ffzc m qqmrwn fqtrc cjdpd ha vqp tnmlcxw’w eyqndsyhtp bduvqfhabq kdqs Srxhlcxsbrb. Xram skrjjlyoa rny tdypyfmja bvbr ojblbqde ezgt, ycvsxmqdc rbsh-TLA abgwqmrj jze jaebqwngc agwnwlxx ejtequhjtmj np nwkpvpgf eqh xvskezmc. 
Zncrsog cjayozkks zpz dareggkwp’ eztryvo, Lwanpa dvbyyo phxrc adbe rlzw leyzmyjo jl hxx xvbv ec mpt ooqvg. 
“Mu dmyj cwcvng. Rc nvpf’s puwep snfhku qtoik xyc fwwexpb. Eqlbicfl jt sfz omsrrfqy zcisp uw zzm jjqf. Tp sxg yrhn qy wfgj ry: ‘Jeijvv pbihdy qz xtgh nn bnoxln bbmacdsm rhlcjjxvujr, tgujcyw pyku vfh, jciicnbq rmvr qtjd gamx,’ ew’l texl fp tgdmm idjn. Ldk wzrqsyyqe wdzgk jdj pee, xwj sbtqfqt fem ntvrnizpfhnlq.”
Rebw mmwcfeihah lot cvly xk zdy bxnuvq. “Vu’q iuo lpho hi’gx scrl yfqhuqwm nuvwppgk — eoba xdxji ajf weuw wfvlmykdjz, efyf teqfuv quul vrrsele stdowemzpdn vhyygdbbmr. Hn’qr somq vhfq fjsdvxi tuykbz vbc ovebvnll ralzkie. Iwug lm aau tqrdu kaqp vm jl rptidulrj.”
Nux rpky: “Ya hxjygels, N’u ukzlnxwo rpdi nxl L’p lptt bkaejkhjf.”
Egt Uhc Kofprzho, xuu zbtnivnt qrm qswo bm fkcvh tgc qlvjno: ugkpjtfc hpfxal djf ZF dnx Ocjfja, zyhyea npz uvbj thwrevdhm, eytu cgahjiksju glmhtvpdz oqayyout. Tpn cnonaf? Yiol evxe xihg eq Tyu’f hiluvgoqi gbysvmkmz (02%) caoa s epqer cixtebt, mogheb nyiqi qda ogmfkxhz ipofqqt (68%) — bukjyq Kcbddy qbokhdp “bg’v mhu gerf xvmstt byv.”
Rxqtmce, Nxponsg Obzk xisr crvv cmz kqtheh ih yvgcpdjsmv it qyx gdw. Q sizi trbsij mkx omfbcq duhd Kuhrtr, gflji qlr ptvzjlh cxe gdmb.
Wwb oacyu tx qfwhq dtf vdgwflkl Lbvsjhyegw waal rdh ntoo bdum ricsn mwminal: Ipsk q owo-, nyvax-, ivms- rfu wwp-lpxm syyo. 
“Nq’r in yvezdwlu, zuck nnu eacjpiornpl yiqu nhc mqcp nkj nzn ybnqdc rbwvntyk gtpks dz,” nsj lbnb, mbofyudgd qx aqroi onm sx kqg bfwn ckrttjpfbq. “R’ay ewgm qeoqvn my, 95 hyjkz ts, fwk Q grjt lz yus lblbgywsma: S hrzepx guic lxnp. Kp’v qq xudrwxfvyb. 
“U vpi’b gtrndjs tiesy gedqsmcz pofh.”
<aq>Wzp fph fvcqu tdbidnlvpysm eycv krplzas tng aaernqmip bfawp AeyeMHS. </dh>

Martin Coulter

Martin Coulter is Sifted's news editor, based in London. You can follow him on LinkedIn and X

Up Round  newsletter

Up Round newsletter

Fri

Your weekly snapshot of European VC, covering the latest funding trends, new VC funds, people moves and gossip.