Women, Vote with Your Money

🎙 Wise Women Collective Radio 🎙

Our latest conversation features Catherine Gray, founder of She Angel Investors and producer of Show Her the Money, a groundbreaking documentary exposing the gender gap in venture capital. Catherine shares how women can break financial barriers, become investors, and take control of their wealth and impact.

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Lin Schussler-Williams

Brooke Haynes

Holly Hartman

Transcript

Hello, welcome to the Wise Women Collective radio show. My name is Holly Hartman and I'm here with my two co-hosts, Lynn Schuessler-Williams and Brooke Haynes of the Wise Women Collective. And we are here with our special guest, Catherine Gray. We cannot wait to get to hear more about your story. I had the pleasure of meeting Catherine in person in the Louisville area. She was here streaming her documentary, Show Her the Money. And so I was like, I have to have her on this show. So Catherine, welcome to the show and let our listeners know who you are and what you do in the world. Sure. Holly, thank you so much. And Lynn and Brooke, it's great to be here. Loved being in Louisville. Loved meeting Holly. And it was such a great group there. So receptive to the film we produced called Show Her the Money. And happy to be talking about it today and all the other things that we're doing. So, yeah, I have a company called She Angel Investors. And That is kind of the catalyst for everything that I do, including the film. So Show Her the Money was launched about a year ago. We went into the film festivals. We won a lot of awards, thank goodness. And then we went on the road. to show the film all over the world. And we hit over a hundred cities, Louisville being one of them. And it was so well received. There was just magic in the room as women got excited about venture capital. And I think I thought, wow, how are we gonna get women excited about venture capital? It sounds kind of dry, but it's actually so fascinating. So we did it through a storytelling process where we engage women in learning about venture, how exciting it is, how interesting it is, how they could invest in it, how they could get funding from it. And so it's been really well received all over the world. And U.S. News and World Report even has said that It is one of the best financial films of the decade. So we're super proud of that. And now we are giving people an opportunity not just to see it in person at in-person events, which actually is my favorite. Like I love getting with the people and getting and having conversations. But now we're going to expand to virtual so that more people can see it in groups and then still do online panels with everyone involved in the film so that we can continue the conversation and the movement. I call it, you know, it's a movie and a movement. So we've coined it a moviement. And we really are on a mission to change the fact that women get only two percent of venture capital. And and figure out why are men getting ninety eight percent? Why are we getting two percent and how we can fix it? And so it really is a conversation that I'm excited to talk about today because that is the mission that we have. And I think it's the mission of anybody who's aware of that two percent. Right. Absolutely. So for anybody that might not even know what venture capitalist actually means, because so many of us, if only two percent of us are getting it, a lot of us is because we don't even know what it is or that exists or maybe don't know it's for us. So do you mind kind of sharing briefly what that actually means for women? Absolutely. I think the best analogy is a mutual fund. So as you know, you put your money into a mutual fund, you're pooling it with other people. And venture fund is very much the same. You're investing in a fund that's run by general partners. And there, by the way, are more women founded funds than ever in history now, which is great progress. So you're pulling your money with other people into a fund. And then your general partners who are experts in that arena at finding the deal flow and vetting the deal flow, they decide how the fund monies are allocated and deployed to women innovators who are creating game changing ideas that will affect the future and the planet. And so it's very exciting. You have an opportunity to A, see what's coming down the pike, what's new, what's exciting and innovative. You get to have an opportunity to invest in that. And when you invest in a fund, you're automatically investing in a portfolio of companies because whoever they invest in, which is typically twenty to thirty companies or more, you're now a partner in all of those endeavors. And so where the stock market on average returns about ten percent, venture on average returns about twenty percent. And so it is you are in for the long haul. It's not I'd say the downside is if you put it in, you have to keep it in for a duration. So it's not like when you uh buy a stock and then you could sell it any day you wanted so that's the that's uh one of the things but most people are in uh stocks or real estate or whatever for the long term like right you buy your home you're probably not going to sell it for five or ten years so that's kind of uh the same scenario um but what's exciting is People are making billions of dollars in venture capital and women haven't really been a part of that. By the time it gets to the public market where most people are buying their stocks, the biggest profits have already been made. So how big could the upside be? Once in a while you get lucky and it still has a big run, but it's far and in between. And so getting in on venture capital is getting in on companies before they hit the public stock market. and before they are acquired. So it's a very exciting space to be in. And that's really what venture capital is. I hope that explains it. If not, see, show her the money and we explain it in a storytelling way. Yeah, no, I love that. And what I loved is so we have we as a collective have a lot of entrepreneurs and solopreneurs that are a part of our network, not all. So they'll both be people that are in personal development listening to this. But there's a lot into professional development. And the thing that appealed to me with it was even just the entrepreneur side is if you are an innovator and you are somebody that a lot of women struggle to get funding and then they just their ideas, they lose the idea. But then I love what you just explained on the other side of it is a way that we can raise our wealth by becoming that. And so I want to talk about both of those things. But first, one thing that I noticed The after talk when when we had the panel discussion and people were talking afterwards, the feedback I got was I didn't realize that I could invest at such a low rate to get started, meaning a lot of people think you have to have millions to be able to be a part of the game. So do you mind talking a little bit about that? And then we'll talk about the entrepreneur side of it. That is a great question, Holly, because that is one of the reasons I made the film. I wanted to hit home in that education process that you don't have to have millions of dollars to invest in venture capital like people think. So I wanted to demystify that and show people that you could probably go into one of them as low as twenty five thousand and not even pay that all up front. It might be in five thousand dollar increments over a couple of years. There are venture funds that require a hundred minimum or two fifty minimum or more. But then also you also can tap your Your pension fund, your IRA, a lot of people don't know that, too. Sometimes that's just sitting there not making much money. And you could be doing something very effective with it and making, you know, the possibility of making more. And so there are companies that help you, you know, legally transfer from your IRA into venture funds. So this is the wealth class asset that a lot of people don't know about because they think it's only for billionaires because so many people in venture do make billions of dollars. Like, you know, so it's kind of known for that, but not a lot of people know that it is for more people than have had. uh, previous access to it. And it's because we don't, they don't have the knowledge. You know, when I first learned about venture capital, I was learning about, well, what is it? And why are we only getting two percent? This is ridiculous. But I wanted to better understand what it was. And I thought, you know, I'm a big believer. It is film and television that helps educate people. Right. And so I knew it had to be done in a storytelling way. And so, um, Yeah, like you said, most people that see the film wake up to the fact that, oh, my gosh, this is something I could be investing in, especially if you're a successful business owner or you're working in the C-suite. Or maybe even if you've had an inheritance, you're probably qualified to be an investor in that type of funding, in that type of investing. Love that. Thank you for digging a little deeper into that. Lynn, did you have something you want to share? Yeah, so this is so exciting, Catherine, to hear about. And one of the things that keeps coming up for me as you're talking about it is this, you know, I hear more and more today about people saying things like, Well, what can I do? You know, the world is what it is, no matter what you think about that. And what could I do to make it any better? And and feeling disempowered. Right. I think this is such a powerful way for people, for women to feel empowered. like they can do something that makes a difference. And so have you seen that in the response you're getting? And, you know, I think it's so important for us to stand up and say, you don't have to fix the world, but here are the things you can do. And that's what this feels like to me. I think it's so exciting. How have you experienced that feedback from people? Lynn, that is such a great point that you've brought up. So because of the film, we've launched the Silicon Valley Women Founders Fund, a hundred million dollar fund to fund women in tech that we're raising as we speak. And the reason that we're doing that is You know, people are feeling politically with the landscape that exists right now, like, what can I do to still make an impact with my feeling like my hands are tied? And I say, we can all vote with our money, whether that is, you know, purchasing from a woman, which we're really great about. I mean, we do impact eighty percent of the buying decisions. Right, ladies. But we need to impact more of the investment decisions. And we have a choice. We can do that. No one can stop us from doing that. And that's why I say we can vote with our money. So you find a women founders fund and you can invest in it. Not only does it make a great investment and build wealth, but also can, you know, make such an impact. And that is, I believe, the key right now over the next four years and into the decade as there's the largest transfer of wealth in history to women that we use that in a powerful way. And the powerful way is to use our money to vote with it by being the investors, not just the buyers. But that combination is super powerful. Yeah, I think our title now is don't be just a buyer, but be an investor too. Like, what does that mean? Because I think so many of us have been trained to be the buyer and leave it up to the men to do the investing or anything that has to do with numbers or financial. And it's time to shift that perspective. So we mentioned briefly about as the investor side of this part of it, but then the fact that two percent of women get funding and one is because we don't go after it, I would say is one big reason, because we don't know it's accessible to us. And then two, there's probably that factor of where do I go that just even the knowledge of how to even start. Right. Putting our entrepreneurs cap on, what would you recommend for women that are solopreneurs or entrepreneurs or innovators to look into this as a financial resource for building their business? Yeah, well, the first piece of advice I would give to entrepreneurs is to develop relationships with both angel investors and venture capital fund managers early on. So before you need the money, because it's very difficult to raise money in desperation mode. And raising money is all about relationships. People tend to invest in people that they identify with, that they like, that they believe in. even more than the product. So the product is important and the innovation is important, but more than that is the relationship building. And once you have a relationship with an investor, they probably have other like-minded people in their circle that will be interested in investing in you too. So I would go out to... different angel groups in your area. They're just about in every city in the country and start making those relationships with investors. And then they typically also tend to belong to venture funds. So you wanna meet people that are running venture funds but ones that have something to do with your niche. So no sense in developing a relationship with a venture fund that invest in CPG if your product is a tech product. So you're going to waste their time and waste your time. So you're going to find venture funds that invest in whatever it is that you're developing. And that'll save you a lot of time and energy. That's great advice. We value time and energy. We value being efficient with our time and energy. And I'm sure that the people you're building relationships with also value that, that you're not wasting their time. And what I love is this shift that you're talking about of women becoming investors. And like you said, it's relational. And when women are investing and then they have that story to connect with women, I can only imagine how this will grow. Do you have any projections or any statistics that are showing like now that you're educating and you've been across the globe sharing this story, have you seen any shifts or projections that are happening with this new dynamic? Well, I do know one thing. If we don't do anything, it'll take us till twenty fifty to even get twenty percent of it. So I think it's just mobilizing movements like this where we're all we've got all these great women's groups out there with thousands of members like you do, Holly. and galvanizing them on this movement. Like right now, we're trying to get a million views this year of show her the money. So we educate a lot of women. I will say in every single market, we have brought in new women investors. So that's been incredible. They've invested in the funds in the movie and invested in, you know, direct into companies. So we know we're moving millions and we're going to keep, you know, growing on that. We also have a book coming out. The same name as the movie called show her the money. I realized all the women in the movie and who had helped make the movie possible each had their own extraordinary talents. And I was like, wow, this would make a great book. So it's about the people of the movie and the movement. And that'll be coming out next month also. And then one thing that we're doing together, of course, I want to mention is that all these extraordinary groups like the, you know, are also participating to help promote the kickoff of Women's History Month, which we're calling Screening Palooza. So that means that you can go to the notes in this podcast and get a link to buy a ticket to see Show Her the Money. And you can watch it anytime between March first and the sixth. And then on the sixth, we're still going to have an online talk back with the producers and cast of the film so that we can have a conversation about this. And you can ask questions so that you'll know how to participate in the movement or the moviement. So we're super excited about that. I love that. Yeah, it was such a powerful being able to be there. We went to the Speed Art Museum and then got to ask those questions that were like, now my brain's percolating and I in real time get to ask questions. So, you know, I'm super excited to be on that call to hear the questions because oftentimes we may not even know what the right question to ask. And other people in the room asking, well, like that was a good one. I need to know that. so um I love that you're offering all these different ways and touch points for women to connect and engage in this content because so many of us it's the first time we've heard it so to have a safe space to be able to I just got chills on that yeah somebody needed to hear that that if you've never had that conversation like this is where you go to start that conversation so oh yeah full body yes on that one brooke what do you got hon Yeah, so I'm hearing your passion in what you're doing. And I'm curious, is it the financial part? Is it the women's part? How does this line up with your personal core passion? What does this feed you, this mission? Yeah, well, first of all, I'm happy to be on this podcast. I have a podcast of my own called Invest in Her. And I've been doing that for quite a few years and have probably interviewed almost four hundred women. I do believe it's podcasts like this one that are so important to giving resources to people. that they otherwise don't have access to. So I love what we're doing today. My passion is just in honestly, like I think we all have a purpose here on the planet, right? And this is just my download is about teaching women about venture capital, why it's important to our future. and how we can participate in changing that. So yes, thank you, Brooke. I'm very passionate about it. And I think when you see the movie, you'll be passionate about it too. Like the movie really sparked something in people that says, oh my God, I want to be part of this, right? And that's why we're out to hit a million views this year. Just listening to this conversation has gotten me excited and passionate about it. Like, I want to know what are my next steps? Love it. Yes. Great. And Catherine, I just want to say, I want our listeners to really hear that this upcoming, if you're listening to this six months from now, okay, it might've already passed, but there's still time to see it. But I love this idea that you can get a ticket to watch it virtually and you have several days to do it. You don't have to do it at a certain day and time, but it can meet all the busy women's schedules that are out there. And then there's still an opportunity for the talk back for the, for the feeling plugged in to the rest of the people, right? And so to the people in the movie, to the people who have the message, right? I think that's so powerful. So I hope everybody will really hear that and go look at the show notes and grab that link and go do it. Yes, absolutely. Grab a ticket, come join us, watch it at your leisure between March first and sixth on our Kinema platform. And then we look forward to seeing you at the panel as well. And if you want to do your own screening, you just go to our website, which is showherthemoneymovie.com. And you can book a screening, a live one, a virtual one. We have both options now. So yeah, a lot of people have said, oh, I've been wanting to see that movie. How do I see it? So that's how. You can either grab yourself a ticket or you can plan your screening. Sometimes people ask me, why has it not been on Amazon or some other streaming network? And we do have that opportunity to put it on there. But we feel like it's really important that right now we continue to do a grassroots movement where we allow you to engage in conversation and ask questions. And we also often afterwards, you know, we offer up free workshops and stuff to learn about this. So we just think right now in order for people to take action, it's really important that they be able to engage with other people in the community and with the people in the film. and actually make this a movement that actually helps move the needle. I love that. I'll share my own personal experience with that because there's so much truth to that. This was, what, October when you came to town? We're now in January. And what shifted in me from watching that? And my husband came and watched it with me. There was a few men in the allies that were courageously in the audience. And we had such dynamic conversations after this. And now we're having conversations around finance and not even just venture capital, just the talk about finance that so many people just struggle to have. And we have a monthly meeting where we sit down and we talk about it and then we share about what is our rich life look like. And we're setting goals that we weren't setting before. And it's massively changed my perspective on money and what's possible. And that's just an hour and a half of a viewing or however long it was. And then the conversation afterwards. So this very much is a movie meant and more and that action step. And after that, I was like, how do I get this in hands of all women? Yes, yes. my group to have this. So what you have created and how I want to support it. And so anybody that's here, if you're like, I want to watch it, but you have networks, send it to them because all women really need to hear this message. So we can make a difference. Like you said, voting with our money. This is how we get to do it. This is how we, we take that energy and move it in the right direction. A hundred percent. I love that. Yeah. So Go ahead, Catherine. I was just going to say, uh, I didn't know if you all have any more questions. I mean, I always have something to say. Um, I just, um, I think women have to understand how, um, not only that this is a lucrative niche and not only that it's an impactful niche, but it's also a fun niche. And so I love to, you know, I don't do anything unless I am enjoying myself. Like, you know, I would say if I can't have fun, I don't want to play. So it really is fun. You can get your, I would say it's like the new book club, get your friends together and, you know, let some women pitch you their incredible new ideas. Every single city I went to and I went to about fifty two of the hundred that we went to and every single city I met the most brilliant women. I am so blown away by people's ideas and innovations. And the cool thing is, if you don't have those ideas and innovations, you can invest in people who do. And that's the beauty of it. There's somewhere at the table for anybody who's listening. If you can't be an investor, you could buy women's things, right? You can evangelize for your friends who could afford to invest to invest. And then there's so many women out there that could be investing and just aren't aware of investing. you know venture capital or what it is and why they would want to do it so uh it's time to find out and then you'll become aware and then as oprah says once you're aware you can't be unaware right And so we all know that we have to take our part in moving this needle. And, you know, women, you tell them, hey, you know, you're getting the short end of the stick. They will rise up. They will be like, no way. This is not happening. We're going to take this in our own hands and do it. Of course, we want male allies. But we say, how's that been working for us? So, ladies, we have to take this into our own hands and start learning about and investing in venture capital and other women. And by the way, women make better investments than men do. So you're investing in a woman's business. They tend to be better with money, earlier exits, more profitable. You want to invest in women-owned businesses. And in saying that, also, when a business has both women and men at the table at the C-suite. We all know the research says it tends to be more profitable. So investing in more companies that have women and men that are together partners is also important. Only about fifteen percent of money goes to that combination. So we need to up the game in that arena, too. But it's it's an exciting road. I just want to say it's fun. It's fascinating. And it's something that you want to learn about. I think it's so important for us to say, because we are the Wise Women Collective, that You know, in my work, I deal a lot with what people are programmed to think by society and by the other people in their lives and all of that. And there has been a lot of social programs to women about money, about what their role is in business. I'm of an age where I remember dinner table conversations about whether women should be allowed to go to work or not. Like so, you know, there is so much baggage stopping people from, you know, playing big. Right. There's so much programming for women around what you can do, what you should do, what nice girls do. Like, oh, I could just go on. Right. But what I love about what you're bringing to the table, Catherine, and what you're this awareness you're alighting up in women is that. there are women not playing small. There are women taking the risks. There are women investing in other women to not play small. And I just can't imagine anything more empowering than that. So thank you. You're welcome. And two things about what you just said. One is what if you're put on the planet and you have a download for this incredible idea, then, you know, How could staying at home and taking care of the kids be for everybody? It's not. It might be for some people, but it's not for the woman that got the genius download that's gonna affect those children and that man and the planet at large. So you can't stifle those innovations you've been downloaded. Those are God-given downloads and they need to be sought through. Now, you might be a stay at home mom and be with a husband and you all are very successful. You can be an investor. So, you know, I've had many women come to the screening saying, oh, my gosh, I've been letting my husband make all the decisions. But I want to have a say so in what we're investing in. I'm realizing I have a responsibility to learn about this and invest. invest in women. I'm in a position to do that. And so it's all of that. Every woman has a spot at this table. Yes. Well, we are going to end on that high note that every woman has a spot at this table. I love this conversation. We're going to have to have you on again. We are at the top of the thirty minute mark for us. But before we leave, Catherine, how do they connect with you? Where do they find you? Sure. Uh, the best way to reach me is probably on LinkedIn, uh, Catherine L gray on LinkedIn. Um, but also we have our websites, which are of course, show her the money movie.com. Uh, my company, she angel investors.com where I have, um, you know, workshops for women to learn about fundraising for, um, their businesses. And then, um, uh, Yeah, I think those are probably the two best ways to reach me. Of course, we're also on Instagram, Facebook and all the rest. But those are the best ways. So thanks for asking. I love it. Thank you, Catherine, for being on. We so appreciate you. And we look forward to seeing everybody at the next Wise Women Collective radio show episode. Thank you. Thank you. Bye, everybody.