The Ledger
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Duggal: All-male partner teams signal exclusive culture and limit deal flow
“I think that we've seen with our female founders is that if you are looking to pitch a fund with a website that's full of all men partners, that tends to really signify a certain culture within that firm, and so I think that as VC funds add more diversity to t…”
Duggal: Beauty startups offer SaaS-like margins, retention, and strong exit multiples
“We think it's an exciting category for a few reasons. So healthy SAS like margins, Repeat purchase behavior and really strong exit multiples.”
Duggal: Venture capital is fundamentally driven by FOMO on returns
“So, I mean, you know, from what I've seen, ultimately what drives venture capital is FOMO, particularly when it comes to missing out on, on returns.”
Female Founders Fund pioneered tracking female founder Series A funding data
“We published an annual review on the amount of series A funding that went to female founders in 2014. And, you know, since then we've seen Crunchbase, TechCrunch, and a host of other journalists in the tech industry really follow suit in terms of recognizing t…”
Duggal took 700 meetings and two years to raise $5.85M Fund I
“Fundraising for fund one was incredibly difficult, and I think that's a very similar story to other first-time fund managers. So over 700 meetings, over 70 LPs for a 5.85 million dollar fund over a two-year process.”
Lightspeed Ventures invested as an LP in Female Founders Fund II
“The other thing that helped for our second fund was that Lightspeed Ventures was an LP of ours, which has been tremendously helpful and validating for traditional institutional LPs.”
Duggal: Female Founders Fund has 30 of 35 investments in New York
“We invest primarily in New York with 30 out of 35 of our current investments actually based here, and we definitely see more favorable pricing here in New York.”
Female Founders Fund I raised $5.85M from prominent LPs
“So I started the fund in 2014 after a very long fundraising process, raised about 5.85 million of capital and had a fantastic group of LPs in that first fund, including some great female entrepreneurs, the founders of guilt, birch box, stitch fix, Care.com, as…”
Female Founders Fund invested in Co-Star, Peanut, and Hip Sobriety
“So a few examples of companies in our portfolio that we've invested in that follow the thesis include costar, which is an astrology app peanut, which is a social network for modern motherhood and hip sobriety, a holistic alternative for alcoholics anonymous.”
Maven Clinic raised $27M Series B led by Sequoia and Oak
“Similarly, this fall, one of our companies, Maven Clinic, was raising a Series B and made an intro to Jess Lee at Sequoia, which resulted in a twenty-seven million dollar Series B that was led by both Sequoia and Oak.”
Duggal: Over 400 sub-$100M VC funds were in market in 2017
“So I would say that from a macro point of view, and I'm sure you're aware of this as well, I believe there were over 400 funds in the market last year that were sub a hundred million.”