Based by Kenya Burrell-VanWormer and Katherine Winston, the advisory group accomplished the formation of a mentorship staff and raised $3 million in its first yr in operation, based on the report.
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Fairness Angels has launched a 2024 Affect Report on its first yr as a startup advisory agency specializing in honest entry to the sources that assist companies scale.
The group launched in January 2024 in an effort to discover a answer to the inequity nonetheless rife inside enterprise capital markets. Based by Kenya Burrell-VanWormer, previously chief progress officer at proptech startup New Property Solely and now adjunct professor at Houston Group Faculty educating proptech, digital advertising and marketing, and know-how integration for actual property professionals and Katherine Winston, a founding member of analytics agency Plunk and now targeted solely on Fairness Angels, supplies mentorship, fractional executives and fundraising preparation for corporations based by entrepreneurs from numerous demographics.
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Each ladies function managing companions of Fairness Angels.
Highlights of Fairness Angels’ first yr in operation embrace the formation of its mentorship staff, which incorporates Nationwide Truthful Housing Alliance Senior Vice President Laurie Banner, Twenty 5 Ventures founder Maximillian Diez, Vanguard Properties Chief Know-how Officer Nina Dosanjh, Rotten Tomatoes cofounder Patrick Lee and Morpheus Ventures accomplice Howard Ko.
The agency’s cohort consisted of 4 corporations that raised a complete of $3 million and created 11 jobs. The startup collective was made up of agent and dealer monetary companies agency Upfront, residence furnishing visualization answer The Studio Dwelling, recruiting and retention firm Maverick Methods, and Billions, a startup that strives to enhance operations for high-performing groups.
Winston and Burrell-VanWormer, a former chair of the Houston Affiliation of Realtors and Inman’s 2018 “Person of the Year,” cite plenty of trade statistics to again their mission. A Gusto examine discovered that “in 2023, only three percent of women entrepreneurs surveyed received a private capital investment to start their business, compared with 9 percent of male entrepreneurs.”
Consulting agency McKinsey discovered that “in 2022, Black and Latino founders received only 1 percent and 1.5 percent respectively of total U.S. venture capital (VC) funding. Women-founded teams received 1.9 percent of VC funds, and only 0.1 percent of VC funds went to Black and Latino women founders.”
Nevertheless, there’s excellent news for Fairness Angels’ function, because the Gusto report found that of the 1,300 enterprise house owners it surveyed, 49 % of the brand new enterprise house owners had been ladies versus 45 % males.
Upfront cofounder Pierre Calzadilla, a participant of the Fairness Angels Catalyst Program, mentioned his work with Fairness Angels has proved to be invaluable.
“As a Latino in proptech,” mentioned Calzadilla, who’s firm locked in a $2.5 million funding spherical in September, “I worked my way up for over 15 years, and still — with all my experience — the time from Equity Angels and mentorship proved to be incredibly additive to my growth and preparedness as a startup founder.”
Craig Rowe has co-hosted two webinars for Fairness Angels on working with the information media.
