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Under her guidance the company grew to 150 employees and secured $20 million in funding.
Yet it was the stark gender divide within the world of venture capital that catalyzed her mission.
Anu Duggal:Next year is our 10th anniversary.
So, 10 years ago the percentage of venture dollars going toward female-funded companies was minuscule.
First, the industry is relatively young.
You have art, music, and fashion, which lends itself to a much stronger melting pot.
And so its very hard to shift an industry thats kind of been built on that basis.
To effect change, deliberate efforts must align with the worlds diversity.
It takes a lot of intentionality to say we need to make significant changes.
Otherwise, it just does not reflect the reality of the world around us.
And a large part of that change often stems from the top of the venture food chain.
So the way the food chain and venture works is you have startups at the bottom.
Historically, they have not put much pressure on the fund managers around diversity.
One standout isBentoBox, a company that [helps restaurants build top-of-the-line websites].
Fast-forward to 2021, and there were 18,000 restaurants on board, a remarkable growth.
Connecting a founder with the leaders of their next funding round is a substantial contribution.
Mavens telehealth platform addresses various aspects of womens and family care, including pregnancy, fertility, and menopause.
This case exemplifies how a founders unique insight as the end customer can drive solutions to unmet needs.
How has your international background influenced your approach to founding FFF and navigating the industry?
I moved around a lot at a young age, which unknowingly gave me a broader worldview.
Over time this has translated into a willingness to take risks.
When I started Female Founders Fund, people assumed I had prior investment experience, but I didnt.
What would you say is the long-term goal for FFF and its mission in supporting women?
In this industry, financial returns are what truly drive the change.
What does a successful morning look like for you?
Usually, two or three times a week, Ill do a workout with a trainer or play tennis.
If that doesnt happen, especially in the spring, summer, and fall, I walk to work.
Id either run a flower shop or operate a gardening school.
How do you typically handle rejection?
Dealing with rejection is, unfortunately, a significant part of my job.
Anyone involved in raising capital faces rejection quite frequently.
Well, its a great question.
I think no one truly knows what theyre doing, and thats something I remind myself all the time.
Ultimately, its about how effectively you might convince people.
