Financing High Growth Women-led businesses-5.1.16

1. 1 © 2013 Ventureneer. All rights reserved. Financing Can Break the Glass Ceiling For Women Entrepreneurs Geri Stengel geri@ventureneer.com 212-362-3088 Updated May 1, 2016 Flickr background by Sarah G

4. 4 © 2016 Ventureneer. All rights reserved. What’s Holding Women Back? • Women don’t ask • Women don’t dream big • Issues of control • Women rely on reinvesting profits • Differences in credit scores, growth potential of the industry and size of firm • Discrimination Photo by stevendepolo via Flickr

5. 5 © 2016 Ventureneer. All rights reserved. Female-founded Firms Raise Less Equity Financing • Angel and VCs 14.4% versus 3.6% • Ask close friends 9.2% versus 1.8% • Ask business acquaintances 13.5% versus 5.4% Source: Access to Capital by High-Growth Women-Owned Businesses/ Inc. 5005000 Firms Photo: Money by Aaron Patterson via Flickr

7. 7 © 2016 Ventureneer. All rights reserved. $1 Million Plus Women-Owned Businesses • 171,842 • 12% of all $MM+ businesses • Rate of change: 21% • Rate of change nearly 5Xs greater female vs male owned businesses Source: 2007 and 2012 Census Data SBA and U.S. Women’s Chamber of Commerce

8. 8 © 2016 Ventureneer. All rights reserved. Women of Color Are Being Left Behind Source: #Project Diane by Digitalundivided Photo: Sylwia Bartyzel via Stocksnap • 18% of women are black • 4% of women-led tech startups are black

11. 11 © 2016 Ventureneer. All rights reserved. Venture Capital: Still a Boy’s Club % VC % VC Backed Led % VC Backed CEO 2015* 6% 18% 5% 2011-2013 6% 15% 3% 1999 10% 5% NA Source: Babson Diana Report, PitchBook* Photo: Businessmen by Markus Spiske via Flickr

13. 13 © 2016 Ventureneer. All rights reserved. VC Funds Aimed at Women Led Companies Forming • BBG Ventures • Belle Capital USA • Female Founders Fund • Golden Seeds • Intel Diversity Fund • Sogal Ventures • Women’s Venture Capital Fund • And more Photo: Sunset Formation by Steve Corey via Flickr

14. 14 © 2016 Ventureneer. All rights reserved. Not Welcomed? Women Change the Game • Women venture capitalists leave big firms to set up their own firms • Dell and Google invest in funds with diverse investment partners Photo: Color Explosion by Simon Strandgaard via Flickr

16. 16 © 2016 Ventureneer. All rights reserved. Changing the Ratio: Corporate Venture Capital • 6% of VCs are women • 17% of top 20 CVCs are women Source: PitchBook and CB Insights Photo: Will Morrow, HCA; Maclovia Zelaya, GE Ventures; Chris. Langford, Lowes Venture Capital; Jonathan Drilling, Comcast Ventures and Geri Stengel Ventureneer courtesy of 3686

18. 18 © 2016 Ventureneer. All rights reserved. Girl Power Source: Harness the Power of the Purse: Winning Women Investors Photo : Future so bright by Scott Swigart via Flickr, Women’s Investable Assets in U.S. • $11.2 trillion • 39% of wealth

19. 19 © 2016 Ventureneer. All rights reserved. Angel Investing: Not Just a Man’s Game % Angels Women % Angel Backed Women Led Co. 2014 26% 28% 2013 19% 20% 2012 22% 19% 2011 12% 13% Source: Center for Venture Research Photo: Month of the Dead* Shy Angel by Michel Filion via Flickr

25. 25 © 2016 Ventureneer. All rights reserved. It’s Not About the Crowd. It’s About Your Community! Source: Leaning In or Leaning On? Gender, Homophily, and Activism in Crowdfunding NYU - Leonard N. Stern School of Business and University of Pennsylvania - Wharton School

26. 26 © 2016 Ventureneer. All rights reserved. Ladies, You’ve Got the Skills • Vivid language* • Inclusive language* • Story teller • Organized, diligent • Marketer • Realistic projections • Aligns words with actions • Integrity • Good follow up * Source: Berkley and Kellogg Photo: Queen YUNA KIM via Flickr

27. 27 © 2016 Ventureneer. All rights reserved. Lesson Learned for a Successful Rewards Campaign • Build your network before you need it • Get organized • Research – Campaigns that worked + didn’t – Rewards matter – Platform for fit with your goals • Tell a good story, include your ‘why’ • Communicate clearly • Create a video • Form a team • Experiment, no one size fits all • Show momentum • Engage with customers • Provide updates • Be persistent

29. 29 © 2016 Ventureneer. All rights reserved. Investment Crowdfunding Is In Its Infancy Venture Capital Angel Investments $58.8 Billion Offline $24 Billion Crowdfunding $.6 Billion Source: 2015 MoneyTree, 2014 Center for Venture Research and Break New Ground: The Americas Alternative Finance Benchmark Report (2015 crowdfunding numbers)

30. 30 © 2016 Ventureneer. All rights reserved. Women Are Sitting on the Sidelines • 36% of companies seeking angel financing offline are women led • 18% of companies seeking equity crowding are women led Source: Center for Venture Research and Crowdnetic Photo: Bench by Michael Swan via Flickr

32. 32 © 2016 Ventureneer. All rights reserved. Lesson Learned: for Successful Equity Campaign • Build your network before you need it • Get organized • Segment network, target appropriately • Communicate clearly • Focus on solving a pain point • Highlight the skills of the team • Make a compelling video • Emphasize traction: customers, partners, media mentions, etc. • Show momentum • Reach out often using different • Make the ask and ignore rejection • Attend to details

33. 33 © 2016 Ventureneer. All rights reserved. Big Things Are Happening (and More Are in the Works) • Success of syndicates • AngelList + CSC Venture Capital = CSC Upshot to invest in syndicates • CircleUp + General Mills Fund • Crowdfunder VC Index Fund • Collaborative Fund creates Collab+Consumer to invest in CircleUp companies • CircleUp alliance with J&J • Portfolia alliance with Merck • Angel Capital Association gets it • Portfolia Rising Tide Fund Photo: Fireworks by Amir Kbah via Flickr

34. 34 © 2016 Ventureneer. All rights reserved. Investment Crowdfunding: Title IV, Reg A, Mini IPO • Tier I – $20 MM – No state preemption • Tier II – $50 MM – State preemption – Greater financial reporting + disclosure Photo: Fund by Got Credit via Flickr

35. 35 © 2016 Ventureneer. All rights reserved. Retail Investment Crowdfunding: Title III, Intrastate • $1 M / $1-$2 MM • More for small businesses than high-growth startups Photo: Fund by Got Credit via Flickr

39. 39 © 2016 Ventureneer. All rights reserved. Articles: General Fundraising Articles • Is Change In The Wind For Women Entrepreneurs Raising Capital? • Get Backed: 10 Building Blocks for the Perfect Startup Pitch • The 5 W’s (and How) of Equity Startup Financing • 5 Common Mistakes Companies Make When Seeking Financing • VC or Angel: Who Should You Go to for the Funding You Need? • 9 Ways to Perfect Your Pitch and Investor Presentation • How to Get The Attention Of Investors In-person And Online • How To Ensure An Angel Or VC Is The Right Match For You • 5 Things Angel Investors Are Looking For In Your Pitch • 8 ways to ensure your pitch doesn’t land on deaf ears • Book: Forget the Glass Ceiling: Build Your Business Without One • RSS Feed with articles on finance: http://bit.ly/Finance4Biz

40. 40 © 2013 Ventureneer. All rights reserved. Articles: Raising Money From Venture Capital • Getting An Assist Shortens Time To Raise Series C Funding • How the VC Industry Is Becoming Women-Friendly • Want Venture Capital? Here Are 10 Must-Haves • 10 ways to catch a venture capitalist’s eye • How One Woman Entrepreneur Raised Venture Capital Lickety-Split • How To Transform An Industry And Raise The Venture Capital To Do It • How To Carve Out A Niche And Raise $42 million in Venture Capital • Advice From A Startup Queen • How Can We Increase Venture Capital Investments in Women-led Businesses? • Women And Tech Combine To Revive Fashion Industry In NYC

41. 41 © 2016 Ventureneer. All rights reserved. Articles: Raising Money From Angels • What Dating and Angel Investing Have In Common • Diverse Angels Breed Innovative Companies • College Gives Women Students the Wings of Angels • Which Shark on “Shark Tank” Should You Swim With? • 5 Powerful Ways to Use Your Purse to Help Women and Girls • Angels Close the Gender Gap • Women Entrepreneurs Get Their Game On With Angel Investors • Angels Ignite Blazing Growth for Women Entrepreneurs, More Fuel Needed • Angels Change The Ratio For Women Entrepreneurs • How To Find Angel Investors Outside Silicon Valley, NYC And Boston

42. 42 © 2016 Ventureneer. All rights reserved. Articles: Becoming an Angel Investor • Diverse Angels Breed Innovative Companies • College Gives Women Students the Wings of Angels • 5 Powerful Ways to Use Your Purse to Help Women and Girls • Angels Change The Ratio For Women Entrepreneurs • The Power Of Women's Portfolio • Is Investing In Women Entrepreneurs For You? 9 Questions To Ask If You Want To Find Out • How Women Angels And Entrepreneurs Are Beating Investment Odds • Can Angels Help Women Shatter Glass Ceilings? • Book: Impact With Wings: Stories to Inspire and Mobilize Women Angel Investors and Entrepreneurs

43. 43 © 2016 Ventureneer. All rights reserved. Articles: Rewards-based Crowdfunding • Time For Tea Series: Women and Crowdfunding • Crowdfunding Is A Female Founder's Best Friend • Why Crowdfunding Is so Successful for Women Entrepreneurs • 8 Tips For Crowdfunding Success • How to Ensure a Successful Crowdfunding Campaign

44. 44 © 2016 Ventureneer. All rights reserved. Articles: Investment Crowdfunding • The Essential Guide to Investment Crowdfunding and the JOBS Act • Equity Crowdfunding on Its Second Birthday: A Look Back and Ahead • Equity Crowdfunding: Lessons From the Field • Entrepreneurs Slow to Market Via Equity Crowdfunding Platforms • 6 Common Misconceptions About Equity Crowdfunding • Raising Capital With a Mini IPO Under Regulation A+: Is It Right for Your Company? • How to Ensure a Successful Crowdfunding Campaign • How Crowdfunding Is Closing The Funding Gap • What's Ellen Pao Got to Do With Crowdfunding? • Equity Crowdfunding: Growing But Not Yet Of Age • Research: Stand Out In the Crowd: How Women (and Men) Benefit From Equity Crowdfunding • Equity Crowdfunding Site Targets The Gigantic Untapped Consumer Market

Financing High Growth Women-led businesses-5.1.16

Financing High Growth Women-led businesses-5.1.16

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Financing High Growth Women-led businesses-5.1.16