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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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This article is sponsored by Hulu.
UnPrisonedhas returned for its highly anticipated second season, delving deeper into the complex dynamics of the Alexander family.
The series premiere comes a year after its debut season garnered rave reviews from fans and critics and earned record-breaking ratings for Hulu's Onyx Collective brand. UnPrisoned's success can be attributed to its raw, relatable themes and comedic appeal.
Inspired by creator Tracy McMillan's life, the show follows Paige (Kerry Washington), a therapist and single mother whose life takes an unexpected turn when her father, Edwin (Delroy Lindo) --who was released from prison-- moves in with her and her teenage son, Finn (Faly Rakotohavana).
Throughout UnPrisoned's first season, viewers witnessed how Edwin's incarceration deeply affected Paige's life and relationships. In the series, Paige unpacks her trauma through interactions with her inner child and her online followers. Meanwhile, Edwin is overcoming specific struggles with his own past that led to his life of crime, including a dysfunctional upbringing and his mother's arrest. As the Alexanders attempt to reconcile, new challenges arise.
This new season promises to further explore their unconventional family dynamic. Here are several compelling reasons why season two of UnPrisoned should be on everyone's watchlist.
The Alexander Family Life Is Still In Shambles
UnPrisoned's second season resumes where the series left off, with Paige grappling with the fallout from her troubled therapy practice and Edwin navigating life independently after moving out. Meanwhile, Finn faces his own challenges. The teenager is battling anxiety and seeking information about his father—a topic Paige avoids discussing.
The Alexander Family Are Attending Therapy To Resolve Their Underlying Issues
Amid the chaos in their lives, the Alexander family decides to mend their bond by confronting their past traumas. They seek professional help and attend therapy sessions with a “family radical healing coach,” played by John Stamos, a new cast member. This collective effort aims to unravel the complexities of their shared history and strengthen their relationships.
The process of unraveling each character's internal conflicts and their potential impact on future relationships may clash with Paige's textbook therapy approach. While Paige is used to being in the therapist's seat in both career and family, this forces her into the unfamiliar role of a patient during therapy sessions. This shift would compel her to look in the mirror and try a radically different approach.
The Alexander Family Learned A Big Lesson During A Therapy Session
In therapy, the Alexanders are tasked with addressing their individual traumas to salvage their remaining relationships. One of the family therapist’s eccentric suggestions was an exercise involving a family wrestling match. During this session, Paige faces tough questions about her refusal to share information about Finn's father.
While it's unclear whether this scene is reality or fantasy, the image of the family duking it out in the ring certainly makes for hilarious yet compelling television.
Paige Tries Dating Again Following Failed Relationships
Amid her life's chaos, Paige decides to step back into the dating field. However, her many attempts have left her with mixed results. The dating apps have turned out to be a fail, and an outing with her ex Mal (Marque Richardson), who is also her father's parole officer, doesn’t go quite as expected after he brings an unexpected guest – his new girlfriend.
The situation takes an awkward turn when Mal's new partner learns why the former couple split, partly due to Paige's self-sabotage.
UnPrisoned Is A Perfect Balance Of Comedy And Drama
As a dramedy, UnPrisoned takes a comedic approach to its heavy subjects. The show takes us on a ride with Paige's dating misadventures and navigating a friendship with her ex.
Other lighthearted moments include Edwin's attempts at CPR based on online videos and, of course, the antics of the Alexander family's unconventional new healing coach.
The second season of UnPrisoned is now available on Hulu.
UnPrisoned | Season 2 Trailer | Hulu
Feature image courtesy
Every season is bob season, right? Whether you’re a protective style, curly, or relaxed-hair girly, a bob unites us all. It’s arguably earned the title of most popular, just like finger waves and French rolls did in the ‘90s.
The bubble bob is the latest rendition of this timeless style that’s earned our attention and appreciation. It’s a short and bouncy voluminous bob with a bubble-esque effect. And seeing our faves like Lori Harvey, Zendaya, Ciara, and Kelly Rowland rock it effortlessly has us adding a round brush to our Amazon cart ASAP.
If this is your first time stumbling on this phenomenon, you’re invited to the chat as we explore all things bubble bob. If you’re already familiar with it but want to know more, keep reading sis, we got you. Here’s everything you need to know about a bubble bob, and how to achieve the classy look.
First Things First: What’s a Bubble Bob Exactly?
Jeremy Moeller/Getty Images
London hairstylist Luke Hersheshon officially coined the term “bubble bob,” according to Vogue. Hersheshon said, “It’s defined by that ’90s curve, which until recently was a bit of a no-no, plus it also has a little bit of bounce to it.” Its signature is a curvy silhouette made complete with bumped ends. “Think a classic, old-school, super smooth blow dry, that’s slightly curved under,” he said.
Who Can Rock It Best?
Because a bubble bob typically falls right between the shoulder and the chin, it’s actually flattering for most face shapes, the celebrity hairstylist pointed out. Hairstylist to the stars, Chad Wood, told Byrdie that it mostly complements round, heart, square, and inverted-triangle face shapes. For the ladies with longer face aesthetics, keep in mind that the bubble bob can make your neck and face appear longer, Wood said.
Still, don’t be afraid to go for this look as it works on all types of hair from full and thick to thin and fine.
How To Style a Bubble Bob Haircut
Daniele Venturelli/WireImage
We all want our bobs to have more bounce than the ounce. If you’re not afraid of a little heat, you can achieve this look by pairing a one-inch round brush with a hair dryer (or just use a blow dryer hair brush), starting at the neck and angeling the ends as you work your way up to the top of your head. Don’t forget your heat protectant, girl.
Still, a bubble bob doesn’t always require a ton of heat. Instead, you can also air dry and fluff your hair and use a round brush to give the ends that must-have bend. But I’d be lying if I said this method will get you the same volume and luster as using heat (because it most likely won’t).
Even though it has standout features like volume and such, there are different ways to sport it and make it your own. “You can angle or flip the ends of your bubble bob, add in curls, or leave it smooth. You can also leave longer angled pieces in the front to funk it up and make it more fun,” said Wood.
It’s All About The Versatility
Bubble bobs have easily become a hairdo fave thanks to their versatility. From length to volume, you can still make a bubble your own. Try it with a deep side part, bangs, or a middle part that frames your face. You can also experiment with chin, neck, or shoulder length to create a tailor-made look. Spicing it up with layers will give it that extra stamp of approval.
So How Do You Maintain It?
We all feel at our best when our bob is bobbing properly, especially when it comes to its sleek appeal. Depending on your hair type, you can keep it full of luster by using products like a finishing cream or anti-frizz serum.
If you love extra volume and bounce, NYC salon owner Nunzio Saviano, tellsReal Simplethat velcro rollers are the key. “Rollers are ideal to style a bubble bob. They are best for long-lasting volume.” For heat styling, get the lift with a round brush and a blow dryer, then finish off with rollers. Volumizing mousse and hairspray are also go-to products.
Getting a trim every four to six weeks also stops the ends from being disrespectful and turning outward. If you do use rollers or heat, you can extend the time in between cuts.
Will you be trying out the bubble bob?
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Featured image by Pascal Le Segretain/amfAR/Getty Images for amfAR