Karen Horn Welch, CFA
Chief Investment Officer

Karen Horn Welch has 26 years of investment industry experience and joined Spider Management in 2016. As Chief Investment Officer, she leads the investment team and is responsible for portfolio management and investment decision making. Karen was appointed Deputy Chief Investment Officer in January 2024 and previously served as Director and Managing Director of Investments, working across the portfolio on public equity, private equity, real estate, and asset allocation. She has played a key role in building the team and works closely with the University of Richmond and Spider’s non-profit clients and their investment committees.
Prior to joining Spider Management, Karen worked at Stanford Management Company for nearly a decade, where she served as Director, Portfolio Strategy and previously as Director, Public Equity. Prior to Stanford, she worked at the David and Lucile Packard Foundation, Stanford Graduate School of Business, Harvard University, and J.P. Morgan.
Karen holds a Master of Public Administration with a focus on international economics from Harvard University and a Bachelor of Arts with honors in economics and international relations from Bucknell University. She is a member of Phi Beta Kappa and serves on the Investment Subcommittee of CommonSpirit Health Board of Stewardship Trustees and the St. Christopher’s School Foundation Board.