Author Mark Rowe discusses the gender equality challenges that we face globally in the November 2017 issue of Geographical.
An article in the November 2017 issue of Geographical, a print publication out of the UK, does an exceptional job of summarizing the current research on gender equality globally. Geographical came to my attention after having the opportunity to talk with staff at Oxfam Great Britain (Oxfam GB), in order to learn more about the way Oxfam has approached integrating gender and development for the past two and a half decades.
The article points to research showing that making gains in gender equality could add as much as $12 trillion to the economy, but also quotes some experts who are dubious about using economic arguments for achieving political gains for women. Dr. Torrun Wimpelmann says that it’s unproductive to argue with social conservatives using this economic data. Another expert, Dr. Jeni Klugman, author of a high level UN report called Leave No-One Behind, says there is room for the economic argument, since it comes at the issue pragmatically.
The Feminist Revolution: The Struggle for Women’s Liberation provides an extensive history many major contributions to global feminism, including the 1966 founding of the National Organization for Women.
A new volume for feminism history buffs has arrived on the shelves — and it’s a biggee. The Feminist Revolution is based in history, the book reflects the current zeitgeist of the women’s movement, which is continuing to grow and become more intersectional. Roxane Gay, who gives the forward to the book, credits Kimberlé Crenshaw (one of our top posts is an interview with Crenshaw exploring her work to fund women and girls of color) with helping keep feminism “alive and well” and advance the movement in recognizing the complexity of identity in modern culture.
Natalie Molina Nino is CEO of BRAVA Investments, which takes a value approach to investing in products and services that benefit women.
One of our goals at Philanthropy Women is to explore different ways to invest in reducing the gender gap and building a better economy — ways that operate in both philanthropy and in regular business markets. Alongside gender lens grantmaking, progressive women donors also have another important way they can deploy their capital for gender justice: gender lens investing. One new investment instrument that recently came to our attention is BRAVA Investments, headed by CEO Nathalie Molina Niño, with partners Trevor Neilson and J. Todd Morley.
BRAVA is not primarily focused on supporting women owned start-ups or getting more women into the c-suite of corporations (though this is something they look at), but on investing in industries that economically benefit employees or consumers that are disproportionately women.
“I don’t think investing in women will become mainstream and be taken seriously until we prove that it is lucrative,” said Molina Niño, in a recent phone interview with Philanthropy Women.
Founded in August of 2016, BRAVA brings together Molina Niño’s expertise in large-scale business development and operational growth, with a value-based approach to investing that contrasts sharply with what many other gender lens investors are doing today.
Where did Molina Niño get the idea for her unique approach? To introduce her reasons for developing BRAVA’s approach, she referenced a recent study by Project Sage, which rounded up 58 gender lens investing instruments for a detailed analysis. Molina Niño said she did similar research in preparing for the launch of BRAVA.
“I did a mini-version of Project Sage a couple of years ago,” said Molina Niño. “What I saw was that a lot of my friends and colleagues were starting funds for women and they were struggling to raise cash, so they were these little micro funds worth like $2 million to $15 or $20 million tops. And they were all focused on early stage, very early stage, and higher risk. And they were doing it in the traditional venture capital way, where you invest in 100 companies and you hope that 10 of them will at least provide some return and one or two will really take off.” But Molina Niño didn’t want to take that approach.
“I wanted to do later stage investing, and I noticed nobody in the gender space was doing that,” she said. She liked later stage investing because it meant lower risk, and she also liked being more attractive to large scale institutional investors.
“For me it has always been about scale.,” said Molina Niño. “Even if you’re doing amazing work, but you’re doing it with $10 million a year, that’s pretty small potatoes. It’s never going be part of a big endowment or a big pension fund, it’s never going to be something that moves the needle in a big way. So for me, scale was important, as well as investing in companies that I think we can grow, and not expecting 90% of my companies to go bust.”
Another thing Molina Niño noticed, when she looked around at colleagues in gender lens investing, was that nearly all of the gender lens investing instruments created over the past 10 years are dominated by white women. “Even though I know many of the people who started these funds, and so I believe it’s in no way intentional, but it’s as though somebody wrote a memo and said, ‘Okay people, we’re only investing in white women.'”
So that was another challenge for Molina Niño. “Women of color get .1 % of venture capital,” she said. “You don’t hear many people talking about that.”
Molina Niño wanted to change that, but she also saw some problems in taking an approach of primarily funding women-led start-ups, since that also had limitations in terms of impact. “At BRAVA what we do is, we consider investing in women not to mean necessarily investing only in women entrepreneurs,” she said.
By way of example of the kind of business BRAVA is tracking, Molina Niño described a company called Honor in San Francisco that is a platform for matching people with elder care professionals. “They do a great job of building trust, because the site helps you find people who are vetted, and they have a great reputation for that. Part of how they got that reputation is by attracting and retaining their talent. ”
The way they do that, said Molina Niño, is by paying their workers $20 an hour, in a industry where workers generally receive no more than $12 an hour. “That’s huge. That’s life changing, the difference between $12 and $20 an hour.” Molina Niño also sees the writing on the wall for the need for elder care services in the US. “You have 10,000 people who are turning 60 every day in this country. This is a massive growth play.”
For Molina Niño, the litmus test for deploying capital is that the investment be measurably improving the economic lives of women, at scale, as part of their core business model. “It makes zero difference to me whether the founders are women. It makes zero difference if the board is made up of women. I would love for that to be the case, and maybe after I invest in them, I can influence that to be the case. But it doesn’t make all the difference to me, because they clearly have a model that takes large numbers of women and substantively changes their lives.”
BRAVA Investments hones in on opportunities for making the most impact in gender equality by investing in mid-level growth companies in health care, education, and consumer products, that are economically benefiting women. “If I think about how am I going to make the most impact, by making one woman entrepreneur successful, or by focusing on a company like Honor that is going to help thousands of women rise out of poverty, I’m always going to choose that latter model,” said Molina Niño.
BRAVA’s investment’s focus is on high growth business models that economically benefit women. “I don’t believe that making the one woman a billionaire is going to translate into thousands of women being better off,” said BRAVA’s co-founder and CEO, Nathalie Molina Niño.”I think if you believe that, you’re basically talking trickle down economics. And I don’t believe it.”
This graphic, courtesy of Brava Investments, shows where Brava’s focus differs from traditional investing, with its higher impact on women.
The good news about BRAVA’s approach is that it attracts serious investors with deep pockets, who hear that BRAVA is working at a larger scale and also using a strategy economically benefiting large populations of women. “We’re focusing on domains where women are the majority — either they have a majority of women in their workforce, or a majority of women in their consumer base.”
BRAVA is taking a much different lens than other gender lens investing instruments, capturing the value of investing in economic sectors that influence women’s lives instead of in corporate structures that value women’s leadership.
“I worry that gender lens investing has been too focused on women in the corner office,” said Molina Niño. “So if you look at Sheryl Sandberg and her book, she is focused on the fact that there’s a lack of women in the C-Suite. I step back and think, what percentage of the total women in the world are going to be worried about getting into the C-Suite?”
It’s not that Molina Niño does not want to see more women in leadership across all sectors, but there are different ways to create prosperity for women. “As a woman entrepreneur, I’m personally very impacted by issues around women’s leadership in business, and I co-founded a center for women entrepreneurs at Barnard College at Columbia University, so nobody can say I don’t care about women entrepreneurs, but I have a hard time making the entire story be about that tiny sliver of the population. What about the other 99% of women who will never start a business and who will never make it to the c-suite? They deserve to be invested in, too.” And she believes the evidence shows this broader lens also makes for better investment returns.
A final key point for Molina Niño is the essential role of strong alliances with men in the financial sector and beyond. “Men need to be a big part of this equation,” said Molina Niño. So while the end game is about benefiting women, Molina Niño sees plenty of room for men to be involved, especially when it comes to raising capital. “It’s silly to exclude the people who have all the power, influence, and capital, and so my business partners and co-founders are men. I did that on purpose.”
While Donald Trump is predicting that his “monumental” tax bill will pass next week, women donors came together to demand that Congress reject the tax plan currently being finalized by the GOP. “This is not the decent and fair America we seek to build,” a letter from over 200 women states, as it blasts the GOP for its reckless and irresponsible tax bill.
Women of Wealth, powered by Women Donors Network and Patriotic Millionaires, invites “all women who consider themselves ‘wealthy’ to join us in our fight to build a society of true abundance.”
Calling the tax legislation “morally bankrupt, intellectually corrupt, and economically indefensible,” the letter signed by over 200 Women of Wealth members.
Soon, the shopping rampage will be over, and we can get on with a much more interesting event of the season: #GivingTuesday. This year on Giving Tuesday, we will be hosting a Twitter chat along with the Women Donors Network, where we will talk about the diverse and powerful ways philanthropy can #fundwomen and make a lasting impact for gender equality.
Please join us on Tuesday, November 28 at 1 pm EDT (10 am PDT) for a one-hour conversation on the importance of funding women in today’s philanthropy landscape.
The holiday season means different things to all of us, but one meaning I would like to suggest we share this holiday season is a renewed dedication to self-care.
The idea of self-care can seem trite, but it is definitely not all about getting manicures. When I work with clients in my therapy practice, I like to help them widen their definition of self-care to include acts large and small that we can do to bring ourselves to a healthier place emotionally and physically. Here are a few examples from my life:
Look through the gender lens at your own life, and realize that the holidays might mean extra work for you as a woman. Explore ways to delegate holiday work to those around you who are able to give with their time and attention.
Re-read a familiar book that helps to reset your mind. My book is Diary of A Nobody by George and Weedon Grosssmith. Reading it is like rinsing my brain with a conditioner that take out some of the toxicity and negativity of daily life.
Watch a sit-com or other TV/film that helps shift you into a more neutral state, if you are feeling stuck or overwhelmed. Cute animal videos can also do the trick.
Do 10 minutes of unscheduled aerobic exercise. Get your heart rate up, and then feel how it makes your brain work differently. (If you are in some work environments, this sometimes needs to be done in the bathroom to avoid undue scrutiny. Yes, I did aerobics and yoga in the bathroom at corporate jobs.)
Linger longer over an activity you enjoy. Bake or cook alone or with others. Play games. Go out to dinner. Take a walk. Feel glad about the value of your solitude as well as the value of your relationships, and find time at the holidays to celebrate both.
Take selfies. Paris Hilton may have invented the Selfie, but I’m inventing the selfie for self-care. Be your own model for pictures of good moments in life. Take more selfies at the holidays, to reinforce the experience of enjoying yourself a moment.
In particular for women in philanthropy, an important component of self-care involves investing in and amplifying our vision for a more loving and tolerant world. Use the holiday season to contemplate new ideas for your vision of a better world. Take time to imagine how your ideas might evolve, and allow your intuition to guide you about how to pursue them.
I’m excited about the #FundWomen Twitter Chat, starting tomorrow at 11 AM EST. Also joining the conversation: clothing company Michael Stars, which has a foundation and uses its philanthropy to effect positive change for women.
Below is a sneak peek of a few of my upcoming tweets!
Here’s part of my answer for Question #2: How and why do you opt to fund women’s rights organizations?
The Women’s Living Room donated $1,788 to Artists Exchange for theatre scholarships for girls. Pictured are Women’s Living Room donors, from left, Linda Harris, Lammis Vargas, Kiersten Marek, Kate Aubin, Mike Sepe, Elaine Yeaw from The Artists’ Exchange, City Council President John Lanni, and Paula McFarland.
We all have a unique journey in giving, and now that my journey has landed squarely on feminist philanthropy, I am excited to host a Twitter chat on National Philanthropy Day, to discuss my journey as a giver and to learn about your journey. I believe that by conversing, we can do more than we realize to help each other along the way.
The Twitter Chat will take place on National Philanthropy Day, Wednesday, November 15th, at 11 AM EST it, and will last for one hour. The chat is being hosted by Women Thrive Alliance, one of our spotlight organizations, and will focus on the following:
Topic: The Added Value of Funding Women’s Rights Organizations
Host: @WomenThrive
Discussant: @philanthrowomen
Hashtags: #FundWomen #NationalPhilanthropyDay
Questions:
Q1) Today is National Philanthropy Day. What advice do you have for individuals looking to give today?
Q2) How and why do you opt to fund women’s rights organizations?
Q3) What advice can you give to individuals who want to fund grassroots organizations?
Q4) Why is philanthropy so important when it comes to women’s rights and gender equality?
Q5) What are some resources that donors can use to educate themselves on investing in women’s rights?
Twitter chat guidelines:
At the beginning of the chat, Women Thrive will ask participants to tweet and say ‘hello.’ Women Thrive will go over how to answer the tweets – i.e. answer Q1 with A1; Q2 with A2 for all tweets corresponding to that question. Women Thrive will then begin by tweeting out the questions. Lastly, please include #FundWomen in all tweets.
Some areas I hope to cover include the growing use of giving circles as a vehicle for grassroots feminist philanthropy, ways to influence the communities around you to analyze their gender data, and ways to use your sweat equity as a writer, thinker, and amplifier to support feminist philanthropy. I will also be culling from our growing database of article on Philanthropy Women that are calling attention to the past, present, and future of how we #fundwomen.
Allison Fine, author and nonprofit leader, is Vice Chair of NARAL: ProChoice America Foundation.
Editor’s Note: It gives me great pleasure to welcome Allison Fine to Philanthropy Women as a guest contributor. Allison is the author of multiple books including Momentum: Igniting Social Change in the Connected Age and The Networked Nonprofit. A former Senior Fellow at Demos, Allison specializes in the intersections of online activism and democracy-building, and encourages women to embrace their power in funding social change.
Exactly a year ago, millions of women across the country created the Resistance. We have marched and protested, shared our outrage using hashtags such as #metoo, #yessallwomen #nastywomen and called (and called and called) Congress. Now it’s time to shift from powering the Resistance to creating the Renaissance. However, there is one huge barrier, the “final frontier” as philanthropist Ruth Ann Harnisch calls it: our discomfort with money and power.
“How do you get movements to scale, while at the same time keeping them based on relationships?” asks Leah Hunt-Hendrix, Co-Founder and Executive Director of Solidaire. It’s a question central to many progressive movements that want to help communities grow from within.
Leah Hunt-Hendrix, Co-Founder and Executive Director, Solidaire.
Solidaire formed in 2013, inspired by the Occupy Wall Street Movement, the Arab Spring, and anti-austerity protests in Europe. These disparate movements did not seek narrow policy change; instead, they sought to question—and remake—their societies, disrupting systemic inequality and injustice.
Like these movements, Solidaire seeks to support non-traditional social transformation, says Hunt-Hendrix. By empowering grassroots organizations like Black Lives Matter and their allies, it directs funding at the crosshairs of political struggle and progressive change.
I’m excited about the #FundWomen Twitter Chat, starting tomorrow at 11 AM EST. Also joining the conversation: clothing company Michael Stars, which has a foundation and uses its philanthropy to effect positive change for women.
We all have a unique journey in giving, and now that my journey has landed squarely on feminist philanthropy, I am excited to host a Twitter chat on National Philanthropy Day, to discuss my journey as a giver and to learn about your journey. I believe that by conversing, we can do more than we realize to help each other along the way.
