In Focus with Andrew Felbinger '12

This In the Lead article features Andrew Felbinger, a Seton Hall alumnus and venture capitalist at the Urban Innovation Fund. Felbinger shares his journey from Wall Street to venture capital, emphasizing the power of innovation as a mindset rather than just a career path.

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Thank you for speaking with In The Lead, Andrew. Your work at the Urban Innovation Fund is truly inspiring. Could you share your journey with us?

Seton Hall will always be home, so I’m thrilled to reconnect with the community!

After graduating from the Stillman School [of Business] in 2012 with a degree in economics and a minor in sociology, I started my career at Barclays as an interest rate swaps trader. It was everything I’d imagined for my 20s — living in Manhattan, working on Wall Street — fast-paced, loud and exhilarating.

Four years on the trading desk opened a new door: I transitioned to the buyside, joining a real estate private equity fund to lead its value-add strategy for multi-family acquisitions. This was a turning point. I fell in love with the tangible impact of my work — taking a hypothesis around a market opportunity, executing it, and watching that vision come to life was incredibly euphoric. It sparked a realization to pursue something even bigger.

So, I left the cushiness of New York to earn my M.B.A. at the Wharton School of Business, where I committed fully to an asset class that brought me that same thrill: venture capital.

From there, I spent months hopping planes between Philadelphia and San Francisco, talking to anyone — and I mean anyone — who was founding, working for or investing in early-stage startups. That’s when I crossed paths with the general partners of the Urban Innovation Fund. They were young, scrappy, and had just raised their first fund with an ambitious vision: to become the premier seed-stage investor in startups shaping the future of cities. I was hooked.

Fast forward eight years: We’ve raised three additional funds, grown our assets under management by 10 times, and backed over 65 companies alongside some of the world’s most respected investors. I’ve been first money in the door for founders with ideas sketched on napkins that have now transformed them into multi-billion-dollar businesses.

It’s been a wild ride.

What initially drew you to the field of innovation, and why do you believe others should consider it as a career path?

Disney CEO Bob Iger said, “If you don’t innovate, you die.”

While the longtime Disney CEO’s quote might sound a bit facetious, its power lies in its simplicity: Innovation is the lifeblood of society.

Innovation doesn’t have to be grand or complex. It happens everywhere, in all facets of life. You don’t need to be a startup founder or work on the next SpaceX or OpenAI to be an innovator.

Take the local coffee roaster that builds a sustainable supply chain to better align with its customers’ values. Or the landscaper who adopts software to automate bids, streamline scheduling and enable digital payments. Both are examples of innovation — seeing opportunities for progress and acting on them.

When Brian Chesky launched Airbnb, he didn’t introduce any breakthrough technology. Online commerce already existed, and so did couches, spare rooms and travelers. Yet, the idea of strangers paying to stay in someone’s home was unheard of — why would anyone choose that over a hotel? Is it even legal? Chesky’s innovation didn’t come from inventing something entirely new but from challenging conventional wisdom and reimagining what was possible.

Innovation isn’t a career path; it’s a mindset. It’s about refusing to let “this is how it’s always been done” stand in the way of progress. Innovators push boundaries, question assumptions, and find better, smarter ways to move forward. Whether you’re an entrepreneur, a builder, or a barista, innovation is about embracing change and shaping what comes next.

What are the primary challenges that innovators face today, and how do you personally address these challenges?

The most powerful thing about innovation is also one of its greatest challenges: Every innovation pushes the bounds of what’s possible.

If you want to use computer vision to detect a person’s heart rate based on subtle movements invisible to the naked eye, you can. If you want to deploy software to review millions of pieces of user-generated content and prevent harmful hate speech or child exploitation, you can.

The possibilities are limitless, but that’s exactly the challenge. “The world is your oyster” has never been truer — or more paralyzing.

The best innovators overcome this by maintaining maniacal focus and clarity of thought. They don’t just build what’s possible — they build what’s essential, the products and services their customers need, not just the ones they can imagine.

As a venture capitalist, I meet with hundreds of entrepreneurs every year. It’s easy to get swept up in the excitement of the “what-ifs” and “what could be.” But my role requires me to stay grounded, to filter the noise, and to ask: Is this solving a real, undeniable problem? Is this a “need to have” or just a “nice to have?”

Looking ahead, what do you see as the biggest challenges for urban spaces? Do you feel equipped to tackle these future challenges?

Creating vibrant communities requires improving the livability, sustainability and economic vitality of cities — simultaneously. This means tackling housing affordability, climate resilience, infrastructure strain and economic opportunity.

Three forces shape the future of cities: urbanization, innovation, and regulation. Urbanization brings growth but strains resources. Innovation offers solutions but can outpace regulations. And while regulation ensures equity and safety, it often slows progress. The challenge — and opportunity — is aligning these forces so they work together.

At the Urban Innovation Fund, we invest in startups solving these challenges: electrifying transit, making intelligent healthcare accessible to all, and helping small businesses thrive. I believe the future of cities depends on collaboration — innovators, policymakers and communities working hand in hand. When we get this right, the result is clear: healthier, more inclusive and more resilient cities for generations to come.

How did your experience at the Buccino Leadership Center prepare you to adapt to change and lead effectively?

The Buccino Leadership Center stands out because it pushes you out of your comfort zone and challenges how you think about success and leadership.

I’ll never forget an eye-opening moment during our year’s Ideas & Trends session when Jack Shannon described how the education system is often structured to reward memorization — ingesting information, storing it, and regurgitating it on tests. But what happens when there’s no clear input, no black-and-white answer, no obvious “right” or “wrong?”

That insight has stuck with me because leading and adapting to change — especially in innovation — rarely comes with a playbook. Success lies in embracing ambiguity, asking the right questions and rewarding the process: the critical thinking, the reasoning and the ability to make progress when structure doesn’t exist.

The Buccino Leadership Center didn’t just teach us to lead — it taught us how to navigate uncertainty with confidence and clarity.

Was there a particular moment or activity at Seton Hall that marked a turning point in your leadership development?

A pivotal moment in my leadership development came when I became a founding father of Alpha Sigma Phi fraternity. Though it started as a collection of different friend groups across campus, we quickly bonded over a shared vision and mission (much like some of the best and most innovative startup teams!).

During the chartering process, I was elected president by my fellow founding fathers and was suddenly tasked with the responsibility of building something far bigger than myself — something that could scale and endure well beyond my time at [Seton Hall]. It was my first real leadership challenge, and it forced me to make tough decisions that impacted the entire brotherhood. I had to prioritize the needs of the group over my own interests and ensure that each choice supported the long-term success of the chapter.

That experience taught me invaluable lessons about leadership — particularly the importance of aligning a team around a common mission and the necessity of making decisions that benefit the collective.

What advice would you give to your younger self, knowing what you know now?

Don’t let outside forces dictate your journey. Looking back, I’ve broken just about every “rule” in the playbook — and I wouldn’t change a thing. Your path will be unique, and that’s not a liability; it’s a strength. Embrace it.

I’ll leave you with a favorite quote from one of the greatest innovators of all time, Steve Jobs:

“Everything around you that you call life was made up by people no smarter than you. And you can change it, you can influence it, you can build your own things that others can use. Once you learn that, you’ll never be the same again.”

The world is malleable. You have the power to shape it — so don’t be afraid to forge your own way.

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In the Lead magazine is a collaboration between the Buccino Leadership Institute and the Stillman School of Business’s Department of Management. This edition reaffirms Seton Hall’s commitment to fostering innovative, ethical and impactful leadership. Stay ahead of the curve — explore the Spring 2025 issue of In the Lead.

Categories: Business, Science and Technology