Host: Colleen O'Connell-Campbell, Wealth Advisor, RBC Dominion Securities Guests: Sonya Shorey (CEO, Invest Ottawa), Jennifer Francis (Chair, Capital Angel Network), and Julia Elvidge - Co-founders of She Boot Episode Summary: Only 2% of venture capital flows to women-founded companies - yet women start roughly 15% of all companies. In this episode, Colleen sits down with the three co-founders of SheBoot, a national nonprofit that is tackling this gap from both sides of the table - making women tech founders investment-ready and mobilizing women angel investors to fund them. What started in 2020 with 10 investors putting in $10,000 each has grown into a national program with a waitlist of investors, $300,000 in annual investment prizes, and $54 million catalyzed in follow-on funding. The conversation covers how SheBoot's dual mandate works, the special purpose vehicle structure that simplifies the cap table, real stories of founders who have scaled from pitch competition to million-dollar raises and beyond, and why getting more women investing is just as critical as getting more women funded. Key Takeaways Women receive approximately 2% of venture capital despite founding roughly 15% of companies. Women founders are far more likely to bootstrap - and research shows that is often by necessity, not by choice. She Boot was born in 2020 when the co-founders noticed women were not showing up to pitch competitions. The program now operates nationally (incorporated as a national nonprofit in 2022) with founders from coast to coast. The model has a dual mandate - helping women tech founders become investment ready, and activating women angel investors. Both sides are essential - founders need to see women in the room when they pitch, and investors need practical, hands-on education in how to evaluate deals. Each year, 30 investors contribute $10,000 each for a total of $300,000 in investment prizes ($150K first, $100K second, $50K third). The investment is structured through a special purpose vehicle (SPV), so only one name appears on the founder's cap table while 30 partners share in the investment. Investors receive practical angel investing education - including writing investment memos, conducting due diligence, and evaluating data rooms - paired with more experienced investors in a mentorship structure. The program has catalyzed $54 million in follow-on funding across its portfolio of women-founded companies. Notable alumni include Cinareo (customer support software, raised over $1M within six months of graduating), Ayrton Energy (hydrogen carrier technology for residential use, raised $10M), The Growcer (hydroponic shipping containers growing fresh produce in temperatures as low as minus 50°C, deployed in Indigenous and remote communities), and Flutter Care (med-tech wearable to detect early warning signs of stillbirth, beginning clinical trials at the Ottawa Hospital). 50% of SheBoot founders identify as BIPOC or LGBTQ+. The co-founders are actively working to build that same diversity into the investor group. Capital Angel Network, one of the founding partner organizations, has grown from having two women members to roughly one-third women - with a goal of reaching 50/50. In Canada, CRA data shows 90% of women-owned businesses file as self-employed, meaning most are not incorporated and not building a sellable asset. Solving the 2% problem takes a multi-pronged approach - more women investing, more women-founded startups funded, and real-world impact that multiplies across our economy. If today's conversation sparked ideas for your own growth-to-exit path, book a one-on-one Wealth Gap Analysis with Colleen O'Connell-Campbell onLinkedIn or via email. 📩 Leave a five-star rating and review - it helps more founders find the show. *** The Cash Rich Exit Podcast is brought to you by O'Connell-Campbell Wealth Management at RBC Dominion Securities. All opinions expressed by the host, Colleen O'Connell-Campbell, and podcast guests are solely their own opinions and do not reflect the opinion of RBC Dominion Securities. This podcast is for informational purposes only before taking any action based on information in this podcast you should consult with a qualified professional. Colleen O'Connell-Campbell is a Wealth Advisor at RBC Dominion Securities, a member of the Canadian Investor Protection Fund.
