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Joining Female Founders Fund

Sutian_black_squareI believe we’re in a world where we are fortunate to be able to pursue passions — passions about the ideas that we work on, the companies that we join, and the initiatives that we champion. I believe that when you meet the people who share the same passions, you find a common ground.  And this common ground is where I saw a new community being born.

Female Founders Fund represents a portfolio of a phenomenal group of women who I believe will go on to create industry-defining technology companies.  I am excited to join Anu Duggal, the founder, as the new partner at F3.

From the beginning of my VC career at FirstMark Capital, a leading early stage firm in New York City, I was part of the investment team that saw companies like Shopify, Pinterest, Knewton, and Riot Games redefine the experience of selling, discovering, learning, and playing. Despite the diversity of their industries, the commonalities remain the same: visionary founders, strong metrics and traction.  More importantly, however, is their passion to prove that there is a new paradigm of building a business while building community — whether within a fund portfolio, a geography, or an industry.

In using the same lens to think about Female Founders Fund, I couldn’t be more excited to continue investing behind our female focused thesis.

The metrics alone are impressive. In 2013 to 2015, we have seen the number of female-founded companies being started more than double. The number of female-led Series A’s in New York is 14% and growing. Women are starting companies not just in fashion and beauty, but in areas like digital health, fintech, security, infrastructure. We’re seeing the beginnings of mini-”Mafias.” Out of the 23% of our portfolio that are serial entrepreneurs, we’re seeing the next wave emerge from Rent the Runway, Gilt, and Ebay.

 

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The F3 network of female founders is a singular group of tremendous CEOs sharing their unique and diverse experiences to build a broad and strong portfolio.  Coupled with passionate founders and the engaged — and wholly unique — portfolio community we are building, I believe we are at the forefront of identifying, investing in, and supporting female entrepreneurs with a unique set of resources.

I have been lucky to work with Anu on the F Cubed investment committee for months now, and I’ve admired all the work — the connections, introductions, strategy — and the partnership and trust she has built with our portfolio.

With that, I cannot be more excited to join Anu to support the next generation of female founders.  If software is eating the world, then women — as the biggest spenders on the internet, the primary decision makers in household, and, for F3, the passionate founders of the next generation of technology businesses — should and will own more of that software.