How Sophia helps women get invested in finance
Women only get 3% of the world's capital funding.
It is 2022 and women continue to be economically disadvantaged. When she still ran a women-focused venture capital fund in Singapore, Sophia Co-Founder Tanya Rolfe realised just how deep the gender bias ran.
And so, the educational platform, Sophia, was created to help women become more financially literate. Whilst Rolfe is based in Singapore, her co-founders Christine Yu and Nicole Denholder are based in Hong Kong.
"At every stage [of funding], the people that were flowing that capital all looked the same, and it rarely included and involved women. Where are the women entrepreneurs getting their support from, because there's no capital for them? Where are the businesses that are being built for women? If women are building businesses, for female health for example, where do we get that money from," Rolfe said in an interview with Singapore Business Review.
Women have around a third of the world's wealth, Rolfe added, at approximately $93t by the end of the year. Women also make up approximately 51% of the world's population.
"Yet, we receive two to 3% of all venture capital funding. So I looked inwards. And I came up with idea that women could support other women," she said.
Sophia's The New Investors Essentials course, which includes lessons in angel investing, venture capital and due diligence, is currently being held online. There is a waitlist for in-person lessons for women in Hong Kong and Singapore.
"Relatable stories really appeal to women. I believe that we can do that at Sophia because we are women who have gone through this journey ourselves," Rolfe said.
Whilst she acknowledges that not all women are going to start investing after becoming more financially literate, some could become entrepreneurs.
"Not everyone is going to be an investor, but for those that are, we can direct some of that investment capital towards women entrepreneurs. So we're assisting those that need help with their financial basics. We're assisting those that want to start investing and learning about investing. And we're supporting female entrepreneurs," she said.
For more information on Sophia and what they do, visit www.sophiawomen.com.