We’ve all heard the stats: women receive a disproportionately small slice of venture capital funding. Despite continuously proving their acumen and driving innovation, female founders often hit a wall when it comes to securing the capital and resources needed to scale. Enter Fierce Foundry, a groundbreaking FemTech venture studio on a mission to change the narrative.
In a recent episode of the Worthy for Thirty Podcast, I sat down with Fierce Foundry’s co-founders, Melissa Wallace and Katie Schuele. Their conversation uncovered not just a compelling business model, but a movement committed to giving the means to female entrepreneurs and solving critical health gaps for women globally.
(And this was the 2nd attempt to record. 1st time was marred by technical difficulties.)
If you’re an aspiring founder, an investor looking for impact, or simply passionate about the future of women’s health and entrepreneurship, this episode is a must-listen.
Key Takeaways & Actionable Insights from my conversation with Melissa & Katie:
The Power of the Venture Studio Model for De-Risking Innovation:
Fierce Foundry isn’t just an investor; it’s a co-founder. They operate as a venture studio, meaning they ideate, build, and launch companies alongside founders from “idea to exit.” This hands-on approach provides deep operational support, significantly de-risking early-stage ventures.
Actionable for Founders: If you’re struggling to find the right co-founder or need more than just capital, explore venture studio models in your industry. These partners bring expertise, network, and infrastructure, allowing you to focus on your core innovation. Think of it like a highly specialized accelerator combined with a co-founder.
Contemporary Reference: Companies like Idealab (a classic venture studio) or newer models like Atomic (which has launched multiple successful tech companies) demonstrate the power of this build-and-scale approach, reducing the typical startup failure rate by embedding expertise from day one.
Addressing the “Warm Intro” Disadvantage:
Melissa and Katie highlighted how traditional VC often relies on warm introductions, which disproportionately disadvantages female and underrepresented founders who may not have access to existing networks. Fierce Foundry actively breaks down these barriers.
Actionable for Founders: Don’t wait for the “warm intro.” Be proactive. Attend industry events (virtual and in-person), engage on LinkedIn, and genuinely connect with people who can offer advice or open doors. Your network is built, not found. Fierce Foundry offers regular bootcamps and co-working events specifically to foster these connections—seek out similar opportunities.
Contemporary Reference: The rise of platforms like Built In or even niche Slack communities for founders shows that “cold outreach” done strategically can be incredibly effective when combined with genuine value and clear communication.
“Zero to One” – The Unsexy but Critical Work of Building:
The co-founders stressed the immense effort required to get a company from “zero to one”—the foundational work before scaling. This involves everything from market validation and regulatory navigation to team building and initial product development.
Actionable for Founders: Embrace the grind. Don’t skip foundational steps. Test your assumptions rigorously, talk to potential customers constantly, and be prepared for iterative learning. As Eric Ries preaches in “The Lean Startup,” validated learning is paramount.
Contemporary Reference: Even massively successful companies like Airbnb famously went door-to-door to photograph listings in their early days, proving that successful “zero to one” isn’t always glamorous, but it’s essential. Do the unscalable well!
Defining and Dominating a Niche (FemTech):
Fierce Foundry’s laser focus on FemTech allows them to build deep expertise, identify overlooked opportunities, and leverage a powerful network specific to women’s health.
Actionable for Founders: Instead of trying to be everything to everyone, identify your specific niche. Who are you serving? What unique problem are you solving? Deep expertise in a smaller market can lead to outsized returns and clearer competitive advantages.
Contemporary Reference: Look at the explosion of “vertical SaaS” (Software as a Service) companies—like Toast for restaurants or Veeva for life sciences—which proves that specializing in a specific industry’s pain points can lead to billion-dollar valuations.
“No, Not a VC!” – The Strategic Capital Advantage:
Melissa and Katie clarify that Fierce Foundry is not a traditional VC firm. While they do invest, their model is about providing strategic capital and operational support. They seek investors who understand this long-term, hands-on approach.
Actionable for Investors: Consider models beyond traditional venture capital. Venture studios offer a different risk/reward profile, often with a more active role and a focus on building robust companies from the ground up, rather than simply writing checks. This can be particularly appealing for family offices or impact investors.
Contemporary Reference: The growth of “smart money” investors who bring more than just capital (e.g., industry expertise, strategic partnerships, operational guidance) reflects a broader trend of valuing comprehensive support over just financial injection.
Reversing Medical Data Bias
The Statistic: Women spend an average of 25% more of their lives in poor health or with a disability compared to men, which translates to a potential loss of $1 trillion in global GDP annually by 2040 (as cited by McKinsey and the World Economic Forum, and reflected in Fierce Foundry’s mission). This disparity is largely due to historical exclusion from research and gender bias in medicine.
The Fierce Foundry Example: Fierce Foundry is tackling this by building companies like Dove, which is developing an AI-driven tool to provide better, more personalized early diagnostics for diseases, particularly focusing on conditions like dementia, which affects women at a significantly higher rate than men.
Building a Network and Asking for Help:
A recurring theme was the importance of outreach and asking for assistance. “If you ask for help, people will help you.”
Actionable for Everyone: Don’t be afraid to reach out! Whether you’re a founder seeking advice, an investor looking for deals, or just trying to expand your professional circle, genuine curiosity and a clear “ask” can open many doors.
Contemporary Reference: LinkedIn isn’t just for job searching; it’s a powerful tool for professional networking. Personalize your messages, demonstrate you’ve done your homework, and clearly state why you’re reaching out. The worst they can say is no. Or why not try Boardy.Ai?!
The Future is Female (and Fierce)
The work Fierce Foundry is doing is not just about financial returns; it’s about social impact and rebalancing a historically imbalanced ecosystem. By building and scaling solutions for women’s health, they are addressing critical needs and proving that investing in female founders isn’t just good for women—it’s good for business, and it’s good for the world.
This episode is available on all podcast listening platforms!
