Ep. 193: Patrice King Brickman: Doing Good While Doing Well
Description:
Patrice King Brickman is the founder of Inspire Capital, a Venture Capital Fund that invests in impact driven businesses led by women, and people of color. She discusses the importance of including all people “at the table”, being intentional with your support, and the differences between men-owned and women-owned businesses. Listen in and be inspired!
More on Patrice King Brickman and Inspire Capital:
Website: www.inspirecapital.net
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Quotes:
In this country, there's a huge gender and racial wealth gap. Closing that will create a community that we want, with equal opportunity for all of us. Patrice Brickman
As of 2021, less than 3% of all venture capital went to women. And if you are a black or a Latinx woman, the statistics are even more discouraging at less than 1%. Patrice Brickman
We all know that when women achieve financial security through business ownership, they lift up the rest of the population directly and indirectly. Patrice Bricckman
Show Notes:
Patrice Brickman: Inspire capital. It's a venture capital firm that invests in women and minority led businesses.
Patrice Brickman: There's a deep desire to create a world that works better for everyone.
Patrice Brickman: Still today in this country, white men have held that power, that financial power. So if we don't begin to close that or at least tighten that gap, I think we'll never be the country that we claim to be and want to be.
Patrice Brickman: I ultimately ran a job fair for homeless women for a few years because there was so much talent and they just needed access.
Patrice Brickman: I was one of nine women out of 100 at the program at Stanford, one of 11 women out of 100 at Harvard. And that's when it was really apparent how disproportionate the number of women sitting in the investor space was.
Patrice Brickman: In 2020 it became really obvious to expand the investing to people of color, also because the inequities there are even worse.
Patrice Brickman: We all know that when women achieve financial security through business ownership, they lift up the rest of the population directly and indirectly.
Patrice Brickman: Statistically, we know that women give back to their communities with more hours and time. They're more charitable with their dollars.
Patrice Brickman: There are so many women doing exciting things.
Patrice Brickman: A Unicorn is a privately held company that is valued at over $1,000,000,000.
Patrice Brickman: Women have a different leadership style than men. They collaborate differently. They mitigate risk and the fallout of their decisions.
Patrice Brickman: Huge venture and private equity funds that just increase their female leadership by 5%, increase their IRR.
Patrice Brickman: Gender balanced teams have a higher valuation overall by more than 10%.
Patrice Brickman: I would encourage people to be intentional about supporting businesses, you know, owned by women and people of color.
Patrice Brickman: Empowering marginalized communities matters. Putting your money where your beliefs are matters.
Keywords:
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