Why Investing in Women Matters

Not until my late 30s did I begin to truly appreciate women - friends and women colleagues- as I much as I should have. I certainly never imagined I’d become a champion of gender lens investing.

I began my career at a boutique investment bank in New York City. I’d walk each day from my apartment at 51st and 2nd Ave to Madison Avenue. When I joined the firm, I was only one of three women, and the only female focused on the client-facing and investments side of business. The firm focused on the global engineering/infrastructure sector and like the bank, the industry was dominated by men. This never really bothered me. It seemed normal. The firm I worked for was great, in particular because I did influence it and I was young and outspoken enough that I expressed my opinions and was able to have my unique kind of impact on the firm.

Only years later would I think back to my occasional frustration that my boss did not know how to manage me and had inherent biases for my young male counterpart. Truthfully, I contributed to some of those biases because I was head strong and 23, so what did I know about how to dress or speak with a loud confident voice - or present to an audience of all men CEOs 20+ years my senior? Others were good people in management yet just not used to working with women or with their own personality quirks, but with no intended bias whatsoever.

The company started having lunches together and more diverse conservations because of me. Then they launched the first industry-wide sustainability initiative, and a related initiative for sustainable infrastructure at Harvard University. Then, I was tasked to launch a new HR best practices and compensation survey and an operational excellence analysis with a group of the leading firm CEOs. The company now knows what ESG is and in 2022 launched their first ESG conference! I played a role in that. I remember meeting them again only 3 years ago, and mentioning the concept, only to get blank stares.

Only in my late 30s, and now in my 40s, did I grow to appreciate and crave working with more gender diversity and diversity overall. When I had my son this year, I really came to appreciate the female friends who stepped up to organize a meal train, cook homemade meals, plan a baby shower, add me to mommy whatsapp groups and more. Or just be patient with me in the moments when my mind was less clear and sleep deprived with a side of baby hormones pumping!

Shortly after I’d had my son, I was catching up with a female friend who was very supportive yet said to me in the same conversation, “You are so strong” followed by “ you shouldn’t talk about ‘mommy brain’ or your trouble focusing.”

And then I realized, do women feel they must hide the fact that motherhood and childbirth is the most incredible miracle and test of the human body and mind imaginable? Sure, it causes some fuzzy brain and trouble focusing for a bit, but it should! Creating life, housing it in your body for 9 months and then not sleeping for 2 months after to ensure it’s survival is no easy task! This is investment banker caliber exhaustion and hard work! I was lucky because I had an amazing partner to help with childcare, and supportive colleagues and friends. But I am not the norm…I have seen and heard so many other women share their struggles. I understand the fear to opening share it, and yet, I will not hide that it takes a toll, but also that it should be celebrated, anticipated and accommodated for!

Being a women with ambition is not easy for many. Not easy for the women or her partner, family, maybe even employer or company. But it is possible! And even more so with the backing and support of other women who know. A woman is usually still expected to take on the brunt of childcare and family responsibilities - and on top of that, be an idiliic partner, though her body, mind and entire identity has been transformed during a magical and stressful, hormone and sleep deprivation-induced period. And if she has time left over from childcare that really just cannot be outsourced in early days, and gets sufficient sleep to think, then she can use that toward putting her career…first.

So women need more coaching and mentorship to keep them focused on the great upside and vision at the end of the tunnel. They need to support to be reminded their career matters as much as anyone else’s. And then they sometimes need the ‘finishing school’ skills that is how to play the VC capital raise game- tell the right story, showcase the right position and more. After all, they may not have time for an all Saturday golf excursion or 2-week heli-ski trip with investors to seal the deal.

And this is why I joined Beyond Capital Ventures, and have participated since in the Audacious Angels program or other opportunities to influence or structure new solutions that empower and help women to thrive.

Women-led funds, women-led investment decision makers…

I began working with Beyond Capital Ventures just prior to going on maternity leave, then joined again on a long-term retainer and in a Venture Partner capacity. I also now serve on the predominantly women investment committee. I was introduced to Beyond Capital and its founder Eva, by a female wealth manager who specializes in impact portfolios. I was excited that Eva had invested her own money and over the last decade into startups; and that she had attended my alma mater, Barnard College, as well! Barnard is the women’s college of Columbia University, a Seven Sisters school and known for educating strong-minded women. I love that Beyond Capital Ventures is focused on financial and impact returns, and was looking at dynamic ways to build in features and solutions to identify strong companies, back conscious leaders, support founders and incentivize smart sensitivity to gender inclusion and awareness to strengthen the business. Beyond Capital Ventures has all women and one man on its investment committee. I love that I can bring the operator/founder/investment advisor perspective to this investor/consultant investment committee, and plans to build out on-ground teams. In the meantime, I enjoy tapping into my network and being on the ground in East Africa to identify dynamic investment opportunities and support founders.

Angel Investors set the chain of investment and growth on track…

I participated in the Audacious Angels program organized by the 2X Initiative to gain an angel investor perspective, and meet other inspiring global women interested to invest their own capital into dynamic startup opportunities. I was an early investor in my own company. I sold my apartment in Manhattan and left banking to found my company! And I have certainly learned a lot from that experience. Now, I am curious to do more because backing early founders and then continuing to support them in various ways through the pending ‘valley of death’ for startups is so important. It can determine the startups that survive and how these startups are crafted and fine tuned to be dynamic, strong and impactful. If I want to see more dynamic, strong and impactful companies out there, I need to step up to support them with the range of resources they need to get ahead.

New Structures to shift the dial.

Traditional venture capital, angel investing and private equity have opened many doors to innovation, and these entities are powerful still. Yet, there is value in new instruments and new perspective. And that is where new models that challenge traditional financial norms come in. For example, Beyond Capital Ventures is one of only 3 funds to apply something called Equitable Venture to its fund structure. Equitable Venture is a profit share pool that is extended to each founder of a portfolio company. This varies from the norm in that typically only investors and the General Partner receive ‘carry’ or profit share in the fund’s success. In this case, part of the total available ‘carry’ or profit share is carved out for founders. In addition, founders who commit to advanced gender equity metrics such as improved human resources policies that support women’s advancement, screening and consideration for women vendors or even improved focus on women as a consumer base.

Equitable Venture has only been applied in 3 funds around the world! With Beyond Capital companies, this makes even all male founder teams think differently about inclusion of women in their business model, strategy and internal policies. Beyond the gender carry upside, the bottom line is that founders’ eyes light up when they hear that Beyond Capital shares their carry pool with their portfolio! It is clearly virtually unheard of in the venture capital and private equity world…

Gender lens investing has become a popular theme in my world. DE&I is becoming more popular among corporations. In both cases, the majority of solutions to address these are underwhelming, ranging from a ‘check the box’ to PR/communications patch. And yet, this is progress. It is slow progress, but the early baby steps pave a trodden path to clear success and bigger wins.