The first thing that comes to light when speaking with Sara Brand and Kerry Rupp of True Wealth Ventures is that they’ve got the data to back up their business. Brand and Rupp launched their venture-capitalist firm in Austin this July.
“We couldn’t have picked a better city for this,” Brand says.
The company is focused on funding female-led projects in which at least one woman works in a significant role within the company. Focused industries include consumer health markets (health care versus sick care) and sustainable consumer markets (eco-efficient appliances and sustainable building materials), the latter being a no-brainer, considering that, according to Rupp, 92 percent of home purchases and remodel decisions are made by women.
On the cusp of True Wealth Venture’s filing with the Securities and Exchange Commission, Brand offered one key tip for startup founders facing the financial-funding quest in Austin: Get a “warm introduction” to a venture-capitalist firm like True Wealth Ventures versus simply sending a cold email. If True Wealth Ventures thinks such a concept or company fits their criteria, Brand and Rupp will suggest a pitch meeting at an informal spot, like a coffee shop. The pitch will include all the elements of a traditional business plan, like identifying the pain in the market and the startup’s solution, as well as projected revenue, and so on.
One thing is for sure: Entrepreneurs need to know their stuff and be able to verbalize their goals as a startup before Brand and Rupp seriously consider it.
With True Wealth Ventures, Brand and Rupp say they’re setting out to fund women-led projects because it’s just smart business.
“It’s a financial thesis. When there’s more senior leaders that are women at a company, whether it’s a Fortune 500 or a venture-backed startup, they do significantly better financially,” Rupp explains.
Brand and Rupp have the business experience to back up the statistics that seem to effortlessly roll off their tongues. Brand earned her bachelor’s degree in mechanical engineering from the University of Texas before earning her Ph.D. in green design and manufacturing from the University of California, Berkeley. She’s worked with major companies like Intel and has been a part of a group that’s managed a $150 million venture fund. And—fun fact—she also co-founded (512) Brewing Company.
Rupp has an MBA from Harvard Business School and 20 years of experience working in startups, both launching her own and helping develop others. She was the former CEO and General Partner at DreamIt—a top ten U.S. startup accelerator and early-stage venture fund—where she was directly involved with the launch of over 150 companies. Additionally, Rupp currently serves as a mentor for Austin’s incubator program, Capital Factory.
Before she was introduced to Rupp, Brand admits she had never worked with, let alone met, another female venture capitalist. (According to Trish Costello, CEO of the Kauffman Foundation, women account for close to 1 percent of all venture capitalists.)
As Brand puts it, “There’s just one too many golf games that
Another fascinating statistic these two savvy women highlight is published in the Harvard Business Review. It claims that when venture-capitalist firms have female partners, they can better advise startups led by women and are able to significantly, if not completely, reduce the gender performance gap.
It’s no surprise, then, seeing as how men might make up as much as 99 percent of venture capitalists, that many women-led projects simply don’t get the attention or funding they need and deserve. With Brand and Rupp teaming up as a power duo to conquer the venture-capital boys’ club, True Wealth Ventures plans to pave the way for Austin women to implement projects that could change the course of our city—and quite possibly take over the world.
