This content was created by GHION.AI . This content was uploaded by GHION.AI . This is a YouTube video titled "Scaling Without VCs" from February 10, 2021, discussing the challenges and strategies of raising capital as a black woman entrepreneur without relying on traditional venture capital. The speakers talk about using program-related investments and angel investors as alternative funding sources.
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The fact that we've only raised $1.5 million, I would say half of it.
Is by circumstance and half is by choice.
Within the first couple years of running.
The company and trying to raise capital.
I realized that, okay, trying to do.
This as a black woman is going to be really challenging. And I'm not up against a meritocracy.
So similar to my experience when I.
Was interviewing for a job and got.
Rejected, I'm very astute to realizing when.
I'm operating in a space that's not a meritocracy and I immediately exit because it's not a good use of my time.
So I have totally exited.
I won't even take a meeting with most VCs.
I'm just over it altogether.
It just, it's a horrible, horrible use of my time.
And so now I would say over.
The past few years it's been by.
Choice, but what I have been successful.
At doing is finding foundations that do PRIs.
So PRIs are called program related investments and it's basically a financial vehicle where.
Foundations who typically only do grants to nonprofits, can invest in social impact ventures. So that's proven to be really successful for us.
We got a PRI from ECMC and.
We'Re pursuing a few other foundations.
And then I've just been really successful with angel investors. So I high net worth individuals who.
Are just really passionate about this and.
They'Re not all women. Actually some of our biggest angel investors are white cisgender straight men who just realize that there's an inefficiency in the marketplace. So that's proven to be far more successful. Moving forward, I will probably not actively pursue traditional institutional capital because I honestly feel like there needs to be a.
Signal to the market that they're missing out on something.
For any of you who are unfamiliar.
With the VC industry, the first thing.
That they'll tell you, it's a very fear driven industry. People like latch onto deals primarily for the fear of missing out then really.
Understanding the workings of the business. I think that's why Theranos actually became.
Really successful at raising capital because it's emotional driven. And so I think in order for people like me to succeed and have it easier when I'm, you know, long gone and dead is if I'm able.
To get to a successful exit IPO acquisition and yield 10x returns to our investors and showing that I was able to do it without traditional vc.
