Well over 250+ startup community members came together for the sold-out 1st Mondays event at the ClickUp HQ in Downtown San Diego. Attendees enjoyed a panel discussion around the award-winning movie Show Her the Money and learned about the harsh reality that less than 2% of Women-led startups are VC-funded. The panel was moderated by Cheryl Goodman, Startup San Diego Vice Chair, and accompanied by panelists:
- Silvia Mah, CEO of She Invests!, Chairwoman & Founder of Stella
- Azin Radsan van Alebeek, Co-founder and General Partner at Emmeline Ventures
- Grace Chui-Miller, Chief Financial Officer at Correlation Ventures
- John Majeski, CEO at Portola Valley Partners
These accomplished investors and entrepreneurs shared their perspectives on the funding disparity for female founders. The conversation highlighted both the obstacles women face and strategies for overcoming them.
Overcoming Bias and Proving the Value of Diversity
One of the central themes of the panel was the persistent bias and skepticism that women still encounter when seeking funding or pitching business ideas. John Maciejewski, CEO of Portola Valley Partners, recounted how bringing gender diversity to his past company proved transformative, allowing the company to break through a stubborn revenue ceiling and achieve growth.
“After doing assessments, an industrial psychologist said the problem was that we were all alike – there was no diversity or tension,” John Majeski explained. “Once we brought in a diverse workforce and perspectives, our revenue just started growing.”
Sylvia Mah, an investor who has backed more than 160 companies led by women and minorities, drives home the point: “Women are pounding the pavement with incredible ideas that don’t fit the traditional VC pattern-matching model.”
The Power of Community and Aligned Values
The panelists emphasized the importance of building and nurturing communities of support to navigate the funding challenges. Silvia of Stella Angels highlighted how their firm facilitates connections between founders and aligns later-stage investment partners to avoid low valuation “lowballing” at the exit.
Silvia added that beyond just funding, it’s crucial for founders to find investors who share their core values and vision for the company’s path. She cited one founder who prioritized an “acq-hire” exit to ensure her entire team secured roles, reflecting the culture and ethos she had built.
Reframing the “Nurturing” Mindset
Panelist Grace Chui-Miller argued that the innate “nurturing” nature often ascribed to women is an asset, not a liability, in entrepreneurship. “Nurturing your customers and community builds loyalty and revenue,” she asserted.
