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A Simple Guide To Angel Investing For Black Women To Thrive
Two years ago, Hannah Bronfman, heiress, social media influencer, entrepreneur, and author of Do What Feels Good, shared her IVF, pregnancy, and motherhood journey with xoNecole, but she's also shared her experience with another amazing journey: becoming a passionate angel investor.
Last month, via her TikTok, she shared that she has invested in more than 70 companies in the past five years, and that angel investing “sits at the intersection of basically everything I do.”
@hannahbronfman Angel Investing Pt 2. Turning Obstacles into Opportunities #startup #investing #finance #business #womeninbusiness #entrepreneur #angelinvestor #blackgirlmagic #cpg #startuptalk
She continued with details on how she once co-founded a venture and faced challenges with getting funding. “I had a difficult time fundraising and was met with all the ‘isms,’ so I just wanted an opportunity to share those learnings with other founders,” she added in the video. (Her Beautified app would eventually get $1.2 million in seed funding and give StyleSeat some tough competition.)
“It was notable that a young Black female started a beauty tech company back in 2013 and the world wasn’t ready for it. And the world isn’t ready for more people of color in the venture capital world. So I’m here to just use my platform to open doors and share knowledge.”
This month, she dropped more jewels, schooling her more than 100,000 TikTok followers about what it takes for a business to qualify for angel investment and highlighting Topicals, a mega-successful skincare company co-founded by Olamide Olowe, the youngest Black woman ever to raise $10 million in funding. The company is one that Bronfman has invested in. (Oh, by the way, other investors in Topicals include Gabrielle Union, Kelly Rowland, entrepreneur and former Netflix exec Bozoma Saint John, and Yvonne Orji.)
@hannahbronfman The topic is Topical 👏🏽👏🏽 @TOPICALS @Olamide Ayomikun Olowe #startup #investing #finance #business #womeninbusiness #entrepreneur #angelinvestor #startuptalk #cpg #blackgirlmagic #skincare #beauty
Some of you might be reading all of this—heiress, Hollywood’s Black Elite, and millions of dollars—and saying to yourself, “Well, that’s for rich folk,” and you’d be somewhat right. The average net worth of an angel is $1 million (or at least $200,000 in annual salary). On top of that, Black and Brown women founders often face unique struggles when it comes to getting funding for their businesses, including biases associated with race and sex, and make up a small drop in the bucket when compared with the funding successes of startup entrepreneurs getting millions of dollars from their affluent white-male (and very well-connected) peers to make their entrepreneurial dreams come true. And even many of the Black women-led exceptions get funding from celebrity friends or other well-connected links to big money.
But there are indeed everyday professionals, entrepreneurs, and activists seeking to balance the playing field when it comes to investing in the ideas and startups of Black and Brown women, and they're rallying together to create opportunities for others to join them.
This is where some of us can do our part to get involved, put our money where our mouths are, and fund the next billion-dollar Black-owned empire (while building our own generational wealth off the dividends). Let’s get into a few basics of angel investing:
First Off, What Is Angel Investing?
Well, it’s not to be confused with family and friends donating money to help you make your side hustle the main one. Angel investing involves a savvy and committed investor—taking a high risk and expecting a high gain—who goes into a legal agreement to offer funds for the upstart and/or growth of a new business, particularly when the founder can’t get a traditional loan or funding by other means. The practice was made infamous by Broadway producers who relied on “angels” to support and fund their productions.
There’s typically an expectation of equity or the value of an investor’s stake in the company. Also, angels are more likely to invest in a great idea, unlike a venture capitalist firm, which requires a business to be a proven hit in the market (among other things). Forbes reports that oftentimes, angels invest after a startup company’s initial investment and before they need larger sums from venues like venture capitalists.
Today, angel investing has become a powerful method for funding Black and Brown women-led businesses since these enterprises have seen a decline and are often shut out when it comes to venture capital funding. Angel investing is a great way for everyday citizens to put their dollars behind a business they see is viable, has a solid business plan, has an actual market to serve, and can offer something in a way that solves a problem. (In Topical’s case, for example, had all of those elements in its favor when it launched in 2020, offering inclusive science-based solutions for common skin issues like eczema and featuring everyday models in their ads, embracing imperfections and normalizing depictions of a diverse range of natural aesthetics relatable to the masses.)
Who Can Become An Angel Investor?
While the net worth of the average angel investor is quite high, the minimum amount someone can invest in a company as an angel can vary (like this woman, who started with a $7,000 investment in NasaClip, a company founded by a savvy Black woman ER physician.)
And while accreditation is encouraged (and sometimes required based on some platform’s requirements related to income and other factors), it’s not a legal requirement for an individual to be an angel investor. Everyday professionals, philanthropists, and entrepreneurs, basically classified as non-accredited) get involved via angel investment groups, equity crowdfunding, or angel networks. Some groups have membership fees, while others bring together like-minded women who want to support one another in researching, vetting, and investing in promising budding businesses.
Source: Pexels
Look into networking events, pitch competitions, bootcamps, or courses offered by organizations and platforms like the Institute for Entrepreneurial Leadership, Black Women Talk Tech, Pipeline Angels. AfroTech, The Black Enterprise Disruptors Summit, Level, or Black Girl Ventures.
With angel investing, the risks are high—which these types of investors are often well aware of—and there are challenges and pitfalls, but if you have the disposable income to offer, and you're willing to do lots of networking, conduct lots of research (on groups, investment platforms, and the companies), and commit to intentional, strategic planning of how often and how much you're willing to invest, angel investing is a great way to build wealth while supporting the growth and survival of Black and Brown businesses.
And who knows, maybe you can gather your network and their coins and create an angel investment support group or firm yourself. With Black women’s buying power still standing strong at $1.5 trillion and a collective move to support women entrepreneurs through actual schmoney, a change is certainly on the horizon.
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These Newlyweds Found Love Thanks To A Friend Playing Matchmaker
How We Met is a series where xoNecole talks love and relationships with real-life couples. We learn how they met, how like turned into love, and how they make their love work.
Jason and Elise Robinson’s union is a reminder that kind people still get their happily ever after. The pair had their first date in October of 2021 and tied the knot on June 15, 2024. Both of them have dedicated their lives to celebrating and supporting Black culture so it was only fitting they get married in what's considered the Black Hollywood of America during the Juneteenth celebration weekend. From the florists to Elise and Jason's gown and suit designers to the table signage and so much more, everything was Black-owned. It's no wonder their love for Black culture was the jumping-off point for their love story.
When they met, Jason had just moved to Atlanta for a new job opportunity, and Elise was living happily in her career and had put dating on the backburner. But luckily, a mutual connection saw something in both of them and thanks to a yoga-themed baby shower and a chance text message, they found their forever. Check out their beautiful How We Met story below.
I’ll start with the easiest question. Can you both tell me a little bit about yourself and your background?
Elise: Sure, my name is Elise. I’m actually from Atlanta, GA – not a transplant. I grew up here and left right after college to pursue my career. Now I’ve been back going on eight years, and I’m in my early 40s.
Jason: And I’m Jason. I’m originally from Racine, Wisconsin. I went to school at Florida A&M University, so I am a rattler. I went back to the Midwest for a period of time, in Indianapolis. Now, I’ve been in the Atlanta area for a little over two and a half years.
Jason and Elise Robinson
Photo by FotosbyFola
Wow, that’s nice because Atlanta gets a bad rap when it comes to relationships. So you have to give us the deets. How did you two find each other?
Elise: So I work in TV and I was on-air for a number of years and then transitioned into being a producer and then a manager. As a producer, I’d always have guests on. And there was a woman who came on frequently named Rosalynn (@Rosalynndaniels, often referred to as The Black Martha Stewart), and we connected instantly. Anyway, she got pregnant right before COVID and invited me to a “modern-day yoga baby shower.” I came to support, but was also just curious about that theme.
I had an amazing time. And when it was over a few of us stuck around and convos got personal. She ended up asking me the infamous ‘Are you dating’ question. When I told her no, she decided to set me up. So I should tell you, in both of my only two serious relationships, I was set up – so I was like no.
But she pointed at her husband, who was folding up chairs, and said that another friend set her up with him. Sometimes, it takes people outside of us to see what we need. A few months later, she reached out and said she had family relocating and thought I’d really like him. So she gave him my number, and I reached out with a text. He responded with a call, and that night, we talked for about 2-3 hours. So that’s how we met. I was a little nervous because me and Rosalynn were starting a friendship, and here I was, talking to her family!
Jason: It was new for me too. Remember, I was new to the area, and I had heard so many “stories” about how people have been done wrong in the dating world. Whether it’s by theft or scamming (laughs). Plus, I had just got a new job and wanted to focus on that. But I did want to be able to date someone in a more personal way and see where it led. I felt like who better than someone who I trust to connect me. Rosalynn knows I’m private, about business life, and my personal life is important to me.
So let’s get into your courtship. What was your first date like?
Elise: We had our first convo on a Monday, and he asked me out the next day. I didn’t have any plans, but I still said no. I was just playing hard to get (laughs). But we were talking every day, and he told me he wanted to take me somewhere I’ve never been. And I’m like, you’re in my city! But he sends me three options, and sure enough, two of the places I hadn’t gone to. So, our first date was October 1, 2021, and somebody was 45 minutes late.
Now Jason, why were you 45 minutes late?
Elise: It was me – in my own city. I just got turned around, and the traffic was horrible. I kept calling him and giving him permission to leave. Full transparency: I probably wouldn’t have waited if the shoe was on the other foot. But this was my first sign of what I now know and love the most about him. It’s his patience. When I got there, I was frazzled and everything, but he was just super calm. It ended up being a great first date.
Jason: I remember just waiting and being concerned for her well-being. Because I know how traffic can be, especially when someone is rushing. I was just scrolling through my phone and looking through the menu. It was cool.
Elise and Jason Robinson
Courtesy
That’s beautiful. Now let’s talk about the “what are we” convo? Did you have one of those and if so, who initiated it and how was it?
Elise: I initiated it. Jason was dating me – and still does. But by this time, we had been on a number of dates. We were on our way to a winery, and we had a bit of a drive. So I decided to state my intention. We were just a few weeks in, but we were spending a lot of time together and we are people of a particular age. So I told him, I know Atlanta can be a Black man’s playground. There’s so many beautiful professional women here. But I’m dating with intention. I don’t want to kick it or hang with a good guy even though he’s not my person. I was done with all of that. So I’m “laying down the law” in my eyes, and he didn’t flinch. He let me finish and basically let me know we were on the same page. He was not trying to sow his royal oats.
Jason: Yeah, I was not trying to be Prince Akeem. But also, it was more so about setting a tone and goal for myself. My mama always told me to set my goals. And having a family was always one of mine. I think the biggest thing of it all, was I felt blessed – in terms of moving for work and meeting Elise, now being married. There’s victories being placed in my life.
I love that you both shared that because sometimes I get feedback on these stories and it seems like sometimes we’re afraid to really voice what we desire, no matter what that looks like.
Elise: Yeah, I think sometimes women feel like they don’t want to put pressure on their partner. But it’s not pressure. Look, Jason and I are based in faith, and what is for us is for us. Being upfront and honest is best – and early makes sense. You don’t have to convince someone to be your person.
Jason: I think her sharing those values resonated with me, and hearing her “lay down the law” was fine because I was there, too. I would say to millennial women, don’t be afraid to tell a mate what you want. You never know what that would lead to. Time is a precious commodity. Elise saying that early on showed me that she values both of our time. It showed her heart, character, and integrity, and I was drawn to that and the mature conversation. In the social media world, we don’t have those pointed conversations face-to-face. I would challenge readers to have those conversations in person, and you would get more from that convo than any post or reel. Because you see body language reactions and have deeper communication.
Yeah, I think sometimes women feel like they don’t want to put pressure on their partner. But it’s not pressure. Look, Jason and I are based in faith, and what is for us is for us. Being upfront and honest is best – and early makes sense. You don’t have to convince someone to be your person.
You both have mentioned time, family, and integrity. I’m curious what other core values do you both share?
Elise: Early on, our faith. Not just do you believe in God. It had to be deeper in that. I needed someone who would lead me, our home, and our family. I didn’t want to be in a push-and-pull relationship about prayer, church, or have conversations about being better people. Also, we discussed finances. That doesn’t just mean going to work. We chatted about ownership and what it looks like for us. How do we support each other individually and together? I know I like having my hands in a few different pots, and I needed someone who was supportive of that and likewise.
Jason: My background is that I was raised in the church. My father is a deacon and my mom is a deaconess. They've been married for 55 years. Faith was very important to me and it was crucial that my wife have that relationship as well.
Elise and Jason Robinson
Photo by FotosbyFola
Can we talk about challenges? Big or small, what are some things you had to grow through together?
Elise: I have never lived with anyone – not a roommate, a sister, friend, boyfriend or anything. Now, I’m in my 40s and I'm living with someone. When you’ve been by yourself for so long that was a challenge for both of us. We weren’t pulling each other's hair out but I’m a bit extreme. Things are color-coded in my closet. For me, working in news is chaotic so I want my home to be peaceful and organized.
Jason: I’m a man, and she’s a woman. That dynamic alone adds a flair to it. She wants things a certain way. She’s a Capricorn. But just in terms of how she wants to keep a home was a big adjustment for me. It took time.
On a smaller level, what are some of the things you disagree about day-to-day?
Elise: Cleanliness and systems. Like, he recycles and I do not. But sometimes I just have to decide if it really needs to be a thing or if I can just take care of it.
Jason: This is where my organization takes over (laughs).
What are your love languages? Do you know?
Elise: Jason’s is an act of service which works because I love cooking for him. It doesn’t feel like a chore to me. I love when I’m out, picking up his favorite juice. The other day I saw he needed t-shirts while folding clothes. So I just like doing small things for him that he doesn’t expect. He’s very much that guy that will ask to help so it doesn’t bother me.
Jason: I’d say Elise is all of them, but physical touch would probably be the biggest one. I had to get used to that. She’s taught me it in a number of ways. I remember we actually talked about love languages, and I sent her this song called “More Than Words” by Extreme. That explained to her how I felt.
Finally, can we end with the proposal? Tell us everything!
Jason: It was at a restaurant. And again, I was trying to find somewhere she hadn’t been. Also, I didn’t want to do it on our anniversary because that would have been too obvious. I contacted one of the restaurant’s staff and decided to change up the dessert menu. Each item was something special to us.
Elise: We go on so many date nights, so I just thought it was a regular night. We had finished eating, and I had to go to the bathroom. They had a nice mirror, girl. So I’m in there taking videos and stuff.
Jason: While she’s in the restroom, I’m getting everything in place with the waitress.
Elise: So as I’m reading the menu, I realize it’s telling our story and he eventually proposed. It was so special; I actually had the menu framed! It was so beautiful and thoughtful.
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Feature image by FotosbyFola
Common Says He May Be Ready To Put A Ring On Jennifer Hudson: 'If I’m Going To Get Married, It's To Her'
Rapper and actor Common stirred speculation about his future with Jennifer Hudson during a revealing TheBreakfast Club interview to promote his new album.
The couple, who sparked dating rumors in 2022, confirmed their relationship years later on The Jennifer Hudson Show. Since then, both have offered occasional glimpses into their romance during interviews and social media posts.
Common opened up about his relationship with Jennifer during his recent The Breakfast Club appearance. The 52-year-old discussed managing their high-profile romance, how the actress and singer has reconnected him with his roots, and hinted at what the future might hold for the couple.
Common On How He Handles Their High-Profile Relationship
When asked about his relationship playing out in the media, Common acknowledged the couple's celebrity status and the public's intrigue. "The Light" emcee revealed that he solely focused on building a solid foundation for their relationship to withstand external pressures.
“I just try to make sure we stay as sacred as possible with us. I try to make sure we build our foundation because once people start talking, they can distract you, can get you off, it can discourage you,“ he said.
Common On How Jennifer Helped Him Get Back To His Chicago Roots
Further into the conversation, Common shared how the daytime television host helped him reconnect with his Chicago roots - a shared background, as both were born and raised in the Windy City.
While discussing his new track "Chi-Town Do It" from The Auditorium Vol. 1 album, the rapper expresses his appreciation for Chicago and his love for Jennifer. Common elaborated that his relationship with the EGOT winner has led to frequent visits to Chicago, allowing him to spend extended time with loved ones and stay rooted in his community.
“I’m going to be real with you. Having a lady that’s from Chicago allowed me to go home and just be home,” he stated.”I hadn’t did that in a while. Where I was just like going home and being around my loved ones and didn’t have no work to do… So me going back just for regular shit, it just helped me stay rooted in what I do and who I am.”
Common On Possibly Marrying Jennifer Hudson
When asked about taking the next step with Jennifer, Common expressed optimism, citing that their healthy and loving relationship could lead to wedding bells.
"With all due respect to all the women I've dated, it's all love, but this is a really healthy and beautiful relationship…If I’m going to get married, it's to her,” he said.
This revelation suggests marriage may be on the horizon for Common and Jennifer. It's not the first time the Fool's Paradise actor has hinted at tying the knot, lending more weight to the possibility.
Earlier this year, Common revealed in an interview that personal growth and lessons from past relationships have transformed his perspective on marriage. The star sees himself ready for commitment, stating he'll propose when the timing feels right.
Although wedding bells aren't ringing yet, it's beautiful to see Black love flourishing.
Common & Pete Rock On Respect For Hip Hop, LL Cool J, Kendrick, Jennifer Hudson, New Album + More
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