THE WRAP JULY 24 – OUR WEEKLY ROUNDUP OF FUNDING NEWS
Hi and welcome to the Wrap, a quick look at the week that was, I’m Diana Dorahy.
It was great to have Gail Wong from Her Capital in Singapore join us this week for both a live member Q&A call as well as our podcast.
She’s all about supporting female founders who are innovating towards what she’s dubbed “an inclusive world that works for all”. She had a lot to say about her mission to invest in profit-seeking businesses designed with the planet and people in mind. I really encourage you to take a listen.
Speaking of social impact investing, the Stacy’s Rise class of 2020 was announced this week too. Out of the 15 winners, there are quite a number of social impact businesses in there, proof perhaps that purpose, sustainability and doing good is now becoming an integral part of an investor’s strategy.
In funding news this week…
Singapore startup, Insider has announced it’s just raised $32 million in a Series C round taking its total funding to $42 million. The company develops software to help clients make marketing decisions and now plans to launch in the United States. I could do a whole Wrap on what these guys are doing and the way they’re doing it but for now, let me boast about the fact that this female-founded company has an executive team made up of 50% women. Talk about leading by example….
My story of the week this week….
Alibaba Group and Ant Group have announced a new initiative to uplift women in technology and entrepreneurship. Dubbed “Cyber Mulan,” the five-year plan aims to help 50 million women reach their goals through things like digital-skills training programs and interest-free loans aimed at female entrepreneurs in small and medium-sized enterprises. Great initiative!
I also really liked a story out of Brussels this week about the rise of female entrepreneurship. A recent survey has found that one in ten women in Belgium is self employed, the highest rate in the country. In fact, the number of self employed women has increased by 30% over the past 10 years there and one of the reasons for this surge is the rise in business cooperatives. These spaces offer development and testing of ideas in a supportive community without the entrepreneur taking on any financial risk. Clearly it’s an investment that’s paying dividends.
My tip of the week this week…..
Comes from Gail Wong – yes, Gail gets a second mention this week. Infact, Gail’s tips could fill an entire Wrap and then some…
She’s invested in 8 startups in the past 7 years and when asked about the biggest factor in her investees’ success she cites these three:
Coach-ability and growth mindset – to continually confront what’s not working in the business and within themselves as they bring the future they envision into reality.
A commitment to something far bigger than themselves or money. It really underpins their determination to come up with creative solutions and it’s also vital to staying joyful and resilient in a fast-moving, high-stakes business environment.
Be action-oriented: keep trying, not over-thinking
Coming up next week on Next Chapter Raise….
We’ve got our members roundup coming out and Josh Bolot joins us on the podcast. Josh is a principal at Monash Private Capital. He sits on a number of advisory boards and is a non-executive director of early stage and growth companies including Bellabox, RangeMe and FutureRent. Can’t wait to get his insights and tips.
Have a great weekend and see you next time on The Wrap.