What’s Inside
How to build investor trust without a warm intro
What underrepresented founders often get right and wrong
Why resilience is as important as revenue
Carrie Rich isn’t chasing the hottest trends in AI or fintech. She’s betting on people, especially early-stage founders who’ve been overlooked by traditional VCs.
As Co-Founder and CEO of The Global Good Fund and Global Impact Fund, she’s spent the past decade backing mission-driven entrepreneurs who’ve lived the problems they’re solving.
In this episode of The Venture Variety Show, we talk about what founders can do to raise capital when they’re operating outside the mainstream, and why building relationships early is more important than having a polished pitch deck.
The Billion-Dollar Bet That Almost Got Missed
Rich has built a career backing founders most VCs overlook, not because they lack ambition, but because they lack access.
She told the story of Asusu, a financial wellness startup co‑founded by two entrepreneurs: one a first‑generation American, the other an immigrant from Nigeria. The company helps low‑income renters build credit through monthly payments, a concept few in venture believed in at the time.
Rich’s fund was among the first to support them, not just with capital, but with mentorship, coaching and belief in their ability to scale. That conviction helped open doors others had closed. Today, Asusu is valued as a unicorn.
“When the rest of the market is overlooking an opportunity — where underrepresented founders are creating market opportunity, being closest to the problems they’re solving for — and no one else is paying attention, it creates a business opportunity,” Rich said.
That quote isn’t just her thesis. It’s her playbook.
Practical Advice for Founders Outside the Mainstream
That same philosophy shapes how she advises underrepresented founders. When asked what separates those who get funded from those who don’t, she didn’t hesitate:
“If you’re building relationships when you need capital, you’re already late,” she said
Rich said too many founders treat fundraising as a one-time transaction instead of a long-term relationship. Here’s her advice:
Start early. Use LinkedIn. Join founder groups. Comment publicly. Add value first.
Do your homework. Anticipate questions around projections, competitors and returns — and practice your answers out loud.
Show resilience. Especially if you’re a first-timer. Investors need to believe you can weather the emotional and financial demands of startup life.
“Founders from untraditional backgrounds often have more resilience and they need to tell that story,” she said.
Final Takeaway
Great ideas are everywhere, but access to capital isn’t.
This episode isn’t just about impact investing. It’s for the founders trying anyway.
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