S1E9: On diversity and shifting the balance of power - SoGal Ventures
If you believe in the power of our wallets, SoGal ventures see VC funding as a way to shift that power to women and minorities. These ladies are definitely putting their money exactly where their mouth is.
About this episode
What do you see when I say venture capitalist? Most likely a guy, probably in his 30s or older. What if I told you that when Pocket and Elizabeth started SoGal Ventures, they were the complete opposite of that stereotype? In fact, it was so against the grain that the people closest to them thought they wouldn’t make it. They took what others saw as a crutch as their unique selling point. SoGal Ventures dubs itself as the first female-led millennial VC firm.
They took what they knew best and invested millions in a new breed of creators and entrepreneurs. Pocket and Elizabeth understand the importance of being chief best friends. Since they invest in early-stage startups, they’re hedging their bets against the success of the founders. SoGal has invested in some of the most inspiring brands, including our episode 1 guests, the ADAY co-founders Meg and Nina.
What you'll learn
- What it means to start a long-distance, long-term relationship with a business partner
- Finding out what you both want in life, in the business, and with each other will help set the foundation for long-term success
- How owning our difference and uniqueness as a unique advantage and expertise
- Why women are still lacking access to capital and why it hasn’t changed over the decades
- How investing in women and diverse backgrounds is the best business arbitrage
- What the number 1 hazard is in startup failure, and what can you do about it
- How to take stressful periods as formative and crucial years in business
- Why we should embrace our multi-dimensionality in order to do well as chief best friends
We were really deliberate to ensure that we loved working together, that we brought different strengths to the table, and really could propel the business forward in our own unique ways. And you know make it so that 1+1 didn’t just equal 2 but equals something much greater.
Episode resources
On the reading list
- Consumer Technology Association selects first two recipients of $10 million investment (press release)
- Bottle of lies: Inside the story of the generic drug boom by Katherine Eban (book)
Women we love
- Jenny from the L Word (TV character)
- Read: In Defense of Jenny Schecter, The L Word Character You Love to Hate (After Ellen)
- Watch: Losing Sight of Shore (available on Netflix)
Other resources
Connect with SoGal Ventures
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