To change the world, it helps to get capital into the hands of people who have a different vision for it. A few years ago, I began quietly investing in “nontraditional” venture capital funds—”nontraditional,” of course, being industry parlance for a fund that isn’t completely overindexed on companies led by white men. With these investments I joined a growing community of funders who believe that worthwhile investment ideas are more evenly distributed among the population than the current flow of venture capital dollars would suggest.
My journey to Sand Hill Road began, of all places, on a beach in Tanzania. It was 1993, and Bill and I were in East Africa to celebrate our engagement. That trip was our first encounter with the daily realities of extreme poverty and disease, and we were deeply affected by what we saw. Before we went home, we took a long walk and discussed giving most of the wealth that had been created by Microsoft back to society. After a few years of learning, listening, and consulting with experts, we decided to start a foundation dedicated to ending inequality.
As my three kids got older, I took on a more public role at our foundation and spent time in developing countries talking to women and girls about their lives, their goals, and the barriers standing in their way. I met so many strong, hardworking women who wanted nothing more than the chance to lift their families out of poverty and contribute to their communities—a chance they would never have simply because they were born female.
On my way home from these trips, I thought a lot about the fact that there is no country on earth where women have achieved true equality. The truth is that we’re wasting a lot of human potential here in the United States, too. Women are still underrepresented in government, in media, and at the highest levels of almost every industry. I decided that—without taking time or resources away from the priorities of our foundation—I needed to do more to advance equity in my own country. That decision led me to start Pivotal Ventures.
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