E09: On diversity and shifting the balance of power - SoGal Ventures
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. What others saw as a crutch, they took as their unique selling point. SoGal Ventures dubs itself as the first female-led millennial VC firm.
They took what they knew best and invest millions on a new breed of creators and entrepreneurs. Pocket and Elizabeth understand the importance of 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 you could think of, including our very own episode 1 guests the ADAY co-founders, Meg and Nina.
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.
IN THIS EPISODE, YOU WILL 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 you can 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.”
RESOURCES FROM THIS EPISODE:
On the reading list
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)
Women who cross the pacific
Watch: Losing Sight of Shore (available on Netflix)
SAY HI, CONNECT WITH SOGAL VENTURES!
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