Black Female Founders to Receive $36 Million in Funding
Arlan Hamilton is the way of the future.
THE WAY OF THE FUTURE.
She watches the hell out of General Hospital, writes the ‘L Word’ fanfic twitter page @ModernLWord, but Arlan Hamilton, founder and Managing Partner of Backstage Capital, is an emerging venture fund manager to watch. Especially since what she's trained her investor's eye on is what everyone else is ignoring.
Here are the facts: less than 10% of all venture capital deals go to women, People of Color, and LGBT founders. Other VCs see this as a pipeline problem. Backstage Capital sees it as the biggest opportunity in investment. And they've put their money where the stats are, their second round of funding has just launched and is targeting $36 million in commitments and Arlan foresees the fund investing $1 million checks into 15-20 companies over the next three years.
Dedicated to minimizing funding disparities in tech, Arlan and Backstage Capital are investing in high-potential founders who are of color, women, and/or LGBT. Once homeless, she knows what it's like to have doors closed on you and your dreams. But, she's opening the doors. We suggest you walk through them with her.
She's the way of the future.
Name: Arlan Hamilton
Instagram Handle: @arlanwashere
Business Instagram Handle: @backstagecapital
Where do your drive and passion come from for Backstage Capital?
The mission. The fact that nothing has changed from my original thought, that there needs to be more access to capital for certain people who are being overlooked and underestimated. Until that massive problem is solved, it will fuel the energy that I need to do that.
How have you successfully navigated a male-dominated field?
By asking what a male would do and just giving myself permission to not apologize for being who I am.
What are your hopes for young women looking to get into finance as investors?
I wish it were now, but I hope that the work that I'm doing and the women alongside of me are doing makes it easier for them to enter this field. That's another part that makes it worth it for me, the idea that what we're doing is making it that much easier for the next person.
What would you say is your biggest pet-peeve in business?
Politics. I think a lot is held up and not accomplished because of ego and people trying to play certain personal agendas. A lot could be accomplished if we just focused on what was important.
What are your biggest fears about running Backstage?
That we won't be enough. That we won't be able to raise more and more funding for the very deserving and viable companies that we are backing.
What's something that you would like people to know about your work with Backstage that they probably aren't aware of?
It's much, much harder than it may appear. There's a ton of work that goes into it that it's not seen. I get a lot of feedback from people who think we're okay, that we've made it. When in reality it's a day-by-day, brick by brick, thing.
What about your career makes you feel the most complete?
Having a woman come up to me and say she started a company because she read something about me. Or having a woman of color tell me that because Backstage exists they knew they wouldn't be alone when they came to Silicon Valley or launched a business. So, moments likes that where I know that something is working and I'm inspiring someone.
When you come across a difficulties or bumps in the road, how do you approach them?
I've always been able to self-motivate by seeing into the future and what I think the future might be. Anytime something is rough, which happens a lot. We might be told we were getting $100,000 investment and then the day the wire is supposed to hit, it doesn't. That's a big deal for us. On those kind of days I just think about the fact that I was homeless and I would imagine myself as a VC. There was no question to me that I would be able to make Backstage happen. You have to keep reminding yourself to keep going, you can do this. The way that you fail, is to stop. That is certainty. If you keep going, there's that potential that you win.
If you were to trade jobs with anyone, who would it be?
I think Ellen has a fun job.
At what point in your career did you find the ability to take charge and become the leader that you are today?
I had to have that mentality with everything. When I was working part time doing data entry, working at a pizza shop. I had to have that "I'm the boss" attitude to get through it so I don't know that it happened recently. It started with my mom telling me I deserved to be in any room and shouldn't shrink myself to make someone else feel better about themselves.
"It started with my mom telling me I deserved to be in any room and shouldn't shrink myself to make someone else feel better about themselves."
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What is the best piece of advice or #realtalk you've ever been given?
The best piece of advice that I take in come from music. Anyone from Nikki Minaj to Casey Edwards.
What song do you sing in the shower when you've had a really shitty day?
Can You Stand The Rain x New Edition.
TO SEE THE FULL CREATE & CULTIVATE STEM LIST CLICK HERE.
Bumble Queen Whitney Wolfe's Best Real Talk Advice
Plus, 7 other women give us the truth on National STEM Day.
Written by: Tyeal Howell
Nearly all of the fastest growing occupations in the U.S. are within the STEM/STEAM industries. The gender gap in these industries is unreal. #NationalSTEMDay was created to celebrate, inspire and encourage the younger generation to explore their interests in the Science, Technology, Engineering, Art and Math fields. To join the celebration, we talked with 8 Women in STEM to get the best “real talk” advice they’ve ever received:
Stay humble.
Know that your career path and your goals may change over time, but stay true to yourself along the way. - Latinas in STEM
Your close crew matters.
“Who you hang out with determines what you dream about and what you collide with. And the collisions and the dreams lead to your changes. And the changes are what you become. Change the outcome by changing your circle.” -- Seth Godin - Claire Burke
Breathe.
Take a deep breath and move on! You will realize that you are a lot stronger than you think. - Leura Fine
Honestly, be authentic.
Answer honestly, support authentically, share resources and share other women's work. - Heather Lipner
Get thick skin.
The bigger the risk, the more likely the failure. You have to develop thick skin if you want to accomplish a lot in life. - Rachel Tipograph
Celebrate the small wins.
I've tried to actively start celebrating small milestones and successes, since I know that I'm really bad at recognizing how far we've come as a company. - Aarthi Ramamurthy
"A successful career is earned and requires sacrifice."
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A successful career is earned and requires sacrifice. It truly is done through dedication and a lot of hard work, nothing is handed to you. - Melissa Grillo
Don't sweat it.
Snap out of it! It always looks better in the morning. - Whitney Wolfe
What other women in STEM are you inspired by today? Comment below!
MORE FROM OUR BLOG
5 Women of Color Dominating the Startup Tech Space
Don't hit like. Hit follow.
Esosa Ighodaro, co-founder of COSIGN
The stats on women in STEM and tech are pretty dismal. (About 26% of women hold tech jobs.) Those numbers drop lower when it comes to women of color-- they hold only 3 percent of all tech positions in the U.S. Which is why supporting of women who are doing their damn thing, and doing it well, is crucial.
Here are five amazing women of color in the tech space you need to hit that follow button on.
1. Jessica O. Matthews & Unchartered Play
Jessica O. Matthews is the Founder & CEO of Uncharted Play, an energy company that designs renewable energy technology systems for infrastructure and smart applications. Founded by Jessica when she was 22, Uncharted Play’s flagship product is the SOCCKET ball, an energy generating soccer ball that provides off-grid power for the developing world. Jessica invented the SOCCKET when she was 19 years old.
Jessica’s research and career centers around the intersection of disruptive technology, human behavior, and the psychology of self-actualization. A dual citizen of Nigeria & the U.S., Jessica has a degree in Psychology and Economics from Harvard University, and
an MBA from Harvard Business School.
2. Dawn Dickson & Solutions Vending
Dawn W. Dickson is a serial entrepreneur with over 15 years of experience in marketing and business development. She launched three successful cash flow positive companies since 2002, her most recent venture Solutions Vending International (SVI) in October 2012 after identifying a need develop a software solution to make vending machines more intelligent.
What Solutions Vending International does: Smart vending machines now represent a new breed of machines connected to the internet. Their software helps vending machines not only understand retail customer demographic and sales data, but communicate with one another to understand consumer purchasing behavior, identify venue traffic patterns, and establish a network of connected retail devices. SVI is building a network of connected machines to securely collect and analyze data about consumers and venues across the United States.
3. Maude Okrah and Bonnti
Bonnti is a mobile platform which helps women navigate and simplify their hair experience. The site explains, "We understand ethnic hair is different and we want to empower women to have more choice when it comes to your hair."
Okrah recently told Project Entrepreneur, "I’d love to see more women, especially women of color, dive deeper into the tech world and come up with solutions to solve the unique everyday problems we face. I’ve learned so much throughout this entrepreneurial journey that I’d be remiss not to share it with any other woman who even shows an inkling of interest in this field. I mentor a small group of women from my alma mater and the D.C. area, helping them navigate the challenges I faced when beginning on this journey."
4. Erin Horne McKinney and KissIntel
Passionate about emerging technology and entrepreneurship, Erin Horne McKinney is the cofounder of Black Female Founders (#BFF) and KissIntel. KissIntel is the first mobile application to function as a "CRM for dating" by creating a platform where users can aggregate and track their dating lives, compare and rate dates and get instant feedback from their family and friends in real time. KissIntel’s proprietary date aggregator allows users to compile all their date options in one place. KissIntel revolutionizes the way people make dating decisions and creates an entirely new way to interact with potential partners by providing customized comparison and rating tools that tie into the user’s curated contact list and social network for immediate feedback from family and friends they trust. In addition to the end-user focused capabilities, KissIntel can offer its rating and comparison engines directly to online dating sites.
5. Esosa Ighodaro and Cosign
She's the woman who is making your photos shoppable. COSIGN connects you to your favorite brands and retailers in just one tap. COSIGN is the first app to make products in your photos ready-to-buy, turning your social media followers into customers and your style into a way to earn cash rewards.
After constantly asking herself, "where did she get that?" Ighodaro decided to come up with her own solution, creating an app to solve her shopping issues. CoSign serves as a mobile app that makes any product with an image shoppable on social media. As an added incentive, users can make a commission for every product purchased through the app.
In this new world, women save themselves. Have more amazing women we should be following? Share in the comments below!