WVS 2023: Ladies, consider this YOUR invitation
Kitty & I recently attended the Women's Venture Summit in San Diego. This event unfolded a plethora of revelations about the landscape of women in the venture capital & startup worlds, and I'm here to share my biggest takeaways and calls to action.
1. Unacknowledged Powerhouses: It's startling to realize that many successful women, with significant capital, have been left out of the venture conversation. Julia Castro Abrams delved deeper into this, pointing out that these women simply haven’t. been. invited.
2. Philanthropy vs. Venture: Women have been historically generous in philanthropy. Why can't this prowess be redirected into venture funding? This strategy could generate more funding for your cause while you build personal wealth - not to mention the impact on the female founder startup ecosystem. Sounds like a pretty good deal, but why aren’t more women doing it? Again, this points to the lack of invitations females receive to join in on venture capital.
3. The Bleak Statistics: Less than 3% of venture capital funds are directed towards women. Even more concerning, the % of venture funds that go to women of color rounds to 0%. This MUST change.
4. The Bias in Investing: A prevalent trend has emerged where men predominantly invest in individuals who mirror their profiles, leaving women, especially women of color, in a support-demanding position. Recent lawsuits against ventures trying to rectify this imbalance, such as the Fearless Fund and Hello Alice, highlight the resistance faced by initiatives aimed at equalizing the venture landscape.
5. Women in Venture: The solution is clear. The venture world desperately needs more female representation.
6. Women as Investors: Interesting fact - turns out, women are phenomenal investors. Don't just take my word for it, Silvia Mah champions this perspective based on concrete data.
7. Performance of Women-founded Companies: Not only are women excellent investors, but companies founded by women also tend to perform better and are more often aligned with mission and profitability. Ad Astra offers phenomenal insights into this trend.
8. The Higher Bar for Female Founders: A challenge I face as a female founder at the pre-seed stage is the seemingly insurmountable bar set for funding. While my company meets many criteria for funding, the lack of female funders and managers in the ecosystem becomes evident.
9. The Potential of Female Funding: Investing in women and women-led initiatives could not only be financially rewarding but could also be the catalyst for societal change.
10. Our Vision for the Future: If we truly want a diverse, inclusive, and equitable world, it's crucial that we invest in the future we wish to see. This means we need more women at the helm, funding, managing, and leading.
So what can you do? Well, for starters, consider yourself officially invited to the angel & venture capital table!
If you want to start small, consider being a mentor. Start researching deals on crowdfunding sites and sit in on “Demo Days” and “Pitch Practices” to see what’s out there. Consider what you want your personal “thesis” to be. What excites you? Where do you want to make an impact on the world? Then, figure out how you want to get plugged in.
To do this in an educated, expert fashion, check out these ladies and the information and services each of their organizations offers to get started right away:
Silvia Mah @ Stella
Vidya Dinamani or Allison Long Pettine @ Ad Astra Ventures
Julia Castro Abrams @ How Women Invest
In conclusion, the Women's Venture Summit was more than just an event; it was a call to action. For the change we wish to see in the world, it's imperative that more women step into venture roles and support female-led enterprises.
This isn't just about equity; it's about a brighter, more inclusive future for all.
Until next time,
Coco
Us with new and old friends! Kristin Slink (Tech AF), Alexandria Fisher (Net Capital), Kitty, Diondraya Taylor (Mindset & Milestones), Coco, and Chi Nguyen (Purpose Tea). These ladies are the best!!
