Anu Duggal on the Future of Female Entrepreneurship
Since starting Female Founders Fund in 2014, Anu Duggal has grown her firm on the premise that women-owned businesses are undervalued. So far, Duggal has proven that thesis correct and also refined her approach with a focus on health care, personal care and climate tech industries as well as vertical software.
"Looking historically at our portfolio and taking a look at where we have seen real ROI or where our value creation has been best has then led us to reflect on where we want to invest in the future," Duggal told Newsweek.
Since its founding, FFF has been investing in six to eight businesses per year and has boosted a number of successful companies, such as Maven, a virtual health care and benefits provider valued at $1.7 billion, Tala, a global financial services provider with annualized revenue of $300 million as of first quarter 2025, and Real, a mental health app for diverse communities. FFF returned its first fund in 2024.
Duggal also mentioned being an early investor in Dacora, a luxury electric car company founded by Kristie D'Ambrosio-Correll, an MIT grad and former chief technology officer at Mirror, and other groundbreaking technology companies.
"It's really exciting to see women in these technical roles taking entrepreneurial risk," Duggal said.
Since the pandemic, lockdown and subsequent tightening of belts in the investment and venture capital worlds, Duggal mentioned that FFF has worked to be more principled in its approach.
"One of the biggest questions that we asked was, 'When you think about a business or business model or an industry, where and how active are the acquirers?'" she noted. "Moving forward, when you are looking at different categories, it's important to ask those questions and think about that upfront. I think that that has led to some of the categories that we look at now."
Women's Global Impact: Anu Duggal
Women's Global Impact: Anu Duggal
Newsweek Illustration
Duggan's journey as a founder was a zigzagging one: starting a consulting job in New York City the week of the September 11, 2001, attacks; moonlighting at Danny Meyer's Indian restaurant Tabla and having a job offer rescinded in the wake of the 2007 recession as she was graduating business school. She worked in startups in the United States and India and has always been a global citizen, having worked in Toronto, Paris and Shanghai and having grown up in Manila, New York, Tokyo and Hong Kong.
In the broader venture capital and investment environment, cash flow has tightened, and less money is going to ideas on a napkin. While surveys have indicated that the pandemic and changing perceptions of corporate loyalty have made entrepreneurship more attractive to many different kinds of people, "it's still really hard," Duggal warns.
In terms of diversifying pathways into starting a business and gaining venture support, Duggal notes that she sees more women at VC firms and generally more people willing to be open-minded.
"You have more female partners at venture funds who are willing to think outside of the box and invest in opportunities—whether it's women's health, personal care, et cetera—where you didn't necessarily have that five or 10 years ago," she explained. "So I think that's been a really positive sign of progress."
While major schools and buzzy employers are always helpful for getting funded—think "PayPal mafia" or the ex-FAANG employees starting companies—Duggal points out that she's seen very successful companies started by people who were close to the problem their startup was solving.
As examples, she mentioned Krystle Mobayeni, who was working as a web designer for restaurants before recognizing their common set of needs and starting BentoBox, a company that would sell to Fiserv for over $300 million, and Billie, a shaving brand for women founded by Georgina Gooley, a former advertising executive who took on entrenched legacy brands in the shaving industry, which sold for $310 million in 2021. As a seed-stage investor, FFF helped those leaders reach their successful exits.
Duggal also pointed to founders who were strident enough to perform cold outreach in order to make something happen.
"Some of our exceptional founders were cold inbound. They wrote incredibly compelling emails, and they didn't just do that one time. They followed up multiple times," Duggal said. "When I look back on my own history of raising capital, we've had some success through warm introductions, but it's been a lot of cold outreach." She told Fortune that it took 700 meetings to raise $5.85 million to launch her firm at a time when "market dynamics were very strong."
Today, the nature of venture activity has changed, with decline from 2022 to 2024 and a slight revival lately, but Female Founders Fund has still proven that women-led businesses are undervalued and have tremendous potential for innovation in consumer markets. The firm has also worked with a lot of New York City–area founders and takes pride in representing that startup ecosystem.
"We've been very confident in our approach," Duggal said. "We don't need to invest in what everyone else is investing in. We're very comfortable ... not following what the herd is doing. We've seen success with that, and so we're very comfortable doubling down on that strategy."
Both Duggal and Dacora CEO D'Ambrosio-Cornell will join Newsweek at this year's inaugural Women's Global Impact forum. The August 5 event, hosted at Newsweek's headquarters in New York City, will bring together some of the world's top female executives and connect them with rising stars across industries and job functions.
For more information on the event and entry guidelines, please visit the Women's Global Impact homepage.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Newsweek
an hour ago
- Newsweek
Iran Warns US About 'Trump Bridge' Plan
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. The foreign minister of Iran said that the country would react carefully to any plan or project that could limit its ability to use important routes or undermine its strategic interests, in a warning to the U.S. about the Zangezur corridor near Iran's northern border. Newsweek has contacted the U.S. State Department for comment. Why It Matters Dubbed the "Trump Bridge" and the "Trump Route for International Peace and Prosperity," the corridor would link Azerbaijan with its Nakhchivan exclave via southern Armenia, after the two countries agreed to a U.S.-brokered peace deal. Iran and its ally Russia, which have welcomed the peace deal signed at the White House last week, worry that the transit route could shift regional influence, reduce their leverage and give the U.S. and Azerbaijan greater control over strategic transport and trade routes. President Donald Trump, center, shakes hands with Armenian Prime Minister Nikol Pashinyan, right, and Azerbaijan President Ilham Aliyev, left, at a trilateral signing ceremony in the State Dining Room of the White House on August... President Donald Trump, center, shakes hands with Armenian Prime Minister Nikol Pashinyan, right, and Azerbaijan President Ilham Aliyev, left, at a trilateral signing ceremony in the State Dining Room of the White House on August 8 in Washington, D.C. More Mark Schiefelbein/AP Photo What To Know Abbas Araghchi, Iran's foreign minister, said the newly proposed transport corridor "must not block Iran's ability to access other transit routes," according to Tasnim News Agency. His comments echoed those of Iranian President Masoud Pezeshkian, who emphasized the need to block foreign military or security presence in the corridor. Through a 99-year-lease agreement, the U.S. and its forces will gain access near Iran's East Azerbaijan province, while boosting American influence in the Russian-dominated South Caucasus. According to Vahan Kostanyan, Armenia's deputy foreign minister, the opening of new regional communication routes would boost Armenia-Iran railway cooperation, including via the Nakhchivan–Jolfa line, giving Iran access to Armenia and the Black Sea, he told Iranian media. What People Are Saying Araghchi, as quoted by Tasnim: "I emphasized once again that while the Islamic Republic of Iran supports the establishment of peace and stability in the relations among the neighboring states, it pays special attention to the maintenance of the region's geopolitical stability and its national interests, and will show special sensitivity to any plan or project that may restrict our country's access to routes or the fulfillment of its interests." Kostanyan, in an interview with Islamic Republic News Agency on Thursday: "It is important for us to hear the feedback and opinions of brotherly countries, especially Iran." Russian Foreign Ministry spokesperson Maria Zakharova, in a statement on August 9: "Involvement of actors outside the region should contribute to strengthening the peace agenda rather than create additional difficulties and dividing lines. It would be prudent to avoid repeating the counterproductive outcomes of Western conflict mediation in the Middle East." What Happens Next Armenia and Azerbaijan have yet to ratify the peace treaty.
Yahoo
2 hours ago
- Yahoo
EVgo Recognized by Newsweek as One of America's Greatest Companies
The award recognizes EVgo's financial performance and commitment to technological innovation as a leading infrastructure provider for EV drivers LOS ANGELES, Aug. 14, 2025 (GLOBE NEWSWIRE) -- EVgo Inc. (NASDAQ: EVGO) ('EVgo' or the 'Company'), one of the nation's largest providers of public fast charging infrastructure for electric vehicles (EVs), has been recognized as one of America's Greatest Companies 2025 by Newsweek and Plant-A Insights Group. Receiving a star rating of 4.5 out of 5, EVgo is among the top rated within the 650 U.S. companies recognized by Newsweek as operating at the highest caliber of business performance. 'For EVgo to be recognized as one of America's Greatest Companies is a testament to our position as a leading infrastructure provider, and our progress in shaping the future of mobility for American drivers who choose electric,' said Badar Khan, EVgo CEO. 'We are honored to receive this recognition as one of the only charging providers included on this prestigious list.'Newsweek uses a comprehensive analysis of public information, employee interviews, surveys, and over 120 key performance indicators to determine its ratings. Companies are also evaluated across four key performance categories: American workforce performance, technological innovation, stock and financial performance, and operational sustainability. Among other eligibility criteria assessed using 2024 results, companies must be listed on a U.S. stock exchange and have a main office in the U.S. Companies also must report revenue exceeding $75 million in 2024, which EVgo well exceeded, reporting $257 million for the full-year 2024, an increase of 60% year over year. Several significant announcements that EVgo made in 2024 were also considered, including: Partnerships with leading automakers, including surpassing 2,000 stalls with General Motors and a commitment to deploying customer-centric "flagship" locations in states such as Arizona, California, Florida, Georgia, Michigan, New York and Texas. Additional automaker partnerships include Toyota Empact and Toyota charging program. Co-development of next generation charging architecture. The new architecture will include ultra-fast chargers centered on the customer experience with features like extended cable length and advanced power sharing. Network expansion with key retail partners, including Meijer and Regency Centers. 'Newsweek and Plant-A Insights Group are proud to present America's Greatest Companies 2025, highlighting 650 U.S. companies that are operating at the highest caliber when it comes to business performance,' said Jennifer H. Cunningham, Editor-in-Chief, Newsweek. 'These companies exemplify what it means to lead with resilience and forward-thinking vision—setting the standard for excellence in American business today and into the future.' For more information about the EVgo network, visit About EVgo EVgo (Nasdaq: EVGO) is one of the nation's leading public fast charging providers. With more than 1,100 fast charging stations across over 40 states, EVgo strategically deploys localized and accessible charging infrastructure by partnering with leading businesses across the U.S., including retailers, grocery stores, restaurants, shopping centers, gas stations, rideshare operators, and autonomous vehicle companies. At its dedicated Innovation Lab, EVgo performs extensive interoperability testing and has ongoing technical collaborations with leading automakers and industry partners to advance the EV charging industry and deliver a seamless charging experience. Contacts For Investors:investors@ For Media: A photo accompanying this announcement is available at in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
San Francisco Chronicle
2 hours ago
- San Francisco Chronicle
Tariffs are slamming Bay Area Indian restaurants and grocers. It could get worse
During a recent lull between customers at Alameda's Shanvi Indian Kitchen & Grocery, owner Vikas Aggarwal took some time to update his prices on a point-of-sale tablet. Sacks of basmati rice, fragrant spices and packs of frozen naan will now cost customers 10%-20% more, and prices may rise further due to the Trump administration's 25% tariff on Indian imports, which took effect Aug. 7 — and which the president has threatened to increase to 50%. When Aggarwal buys his goods from distributors, 'Now even the invoices mention to 'please increase prices at the store,'' he said. Indian restaurants, grocery stores and food importers around the Bay Area are beginning to feel the shock of one of the highest tariff rates placed on a major U.S. trading partner. And unlike earlier rounds of tariffs, business operators told the Chronicle they must now pass on higher prices to customers — an example of the way that sometimes delayed tariff impacts are finally catching up to U.S. consumers. The Trump administration is justifying its tariffs on India as a sanction for purchasing Russian oil, with President Donald Trump vowing to increase tariffs further if U.S. and Indian leaders do not come to an agreement by Aug. 27. Last year, U.S. goods imports from India totaled $87.3 billion. San Francisco's oldest Indian grocer, New India Bazar, is preparing for that possibility. 'No deal could be signed before the deadline,' predicted owner Auro Bhatt. 'India has also got a very strong stance and the countries are not talking about a compromise.' At his Polk Street store, customers from across the city shop for lentils, dosa batter, spices and Hindu idols. Bhatt recently received an invoice for an $800 order, with an added-on $80 tariff fee clearly itemized. He has adjusted his prices accordingly, but still opts to take small hits to prevent total sticker shock. A bag of lentils may have to go by 50 cents, for example, but he may raise the price only 40 cents. Yet because customers often fill their baskets, the small increases add up quickly. 'It comes as a shock to them that they will be buying the same amount of items, but the total bill has gone up by a lot,' he said. Shanvi owner Aggarwal works with around 15 distributors, which has allowed him to shop around to offset tariff-related increases. Still, he said customers are quick to express dismay at checkout. 'They'll tell me, for example, 'last time a product was $2.99, why is it $3.50 now? '' Amod Chopra operates Berkeley's popular Vik's Chaat, as well as a wholesale distributor and market. He has been paying the extra duties to get to his shipments of saffron, beer, rice and other goods from the Port of Oakland. For some time, he did not pass on the new costs to customers, having built up an inventory brought in at a lower tariff rate. Now that these reserves have run out, he's been forced to finally raise prices. 'I don't have 10%, 25% or 50% in my margins to just eat that cost,' Chopra said. 'When the previous inventories deplete, you have no choice,' Chopra already had to contend with higher demand and increased freight prices during the peak buying season for Indian goods earlier this summer, when tariffs were just 10%. A shipment of lentils, rice, pantry goods plus the spices he will be using at Vik's Chaat for the next year were much higher than he's paid in past years, he said. To retrieve a $66,000 shipment, he had to pay $6,600 in tariffs. That price would have been $16,500 under the new rate. Escalating tariffs can often take several weeks to be felt, Chopra said, as the fastest sea freight route from India can take 40 days to arrive. The impact is more immediate for air freight. Shipments en route to the U.S before a tariff increase will have the lower levies, even if they land after a higher rate is in effect. Trump has justified his tariffs, considered a form of tax, by declaring a state of emergency to bypass Congress. In theory, his goal is to increase U.S. production of goods. But the U.S. does not have the appropriate tropical climate to grow in-demand spices such as cinnamon, clove and nutmeg. India is the world's largest exporter of spices, and spice imports from India into the U.S. in 2024 were valued at more than $410 million, according to the U.S. Department of Agriculture. Diaspora Co., one nationally acclaimed Bay Area business that imports high-quality spices from India to the U.S., was on track to turn a profit for the first time in three years in 2025. Then came the new tariffs. If they stay in place, the company estimates it will pay $200,000 in tariffs this year, founder Sana Javeri Kadri said. Diaspora has already spent $25,000 in tariffs to date — essentially, the business' profit margin. If the 50% tariff takes effect, rather than implement a blanket price increase, the Diaspora Co. website will show customers how much tariff they're being charged per order. The 50% tariff would translate to an additional $1.50 per tin, Javeri Kadri said. This means single-origin black pepper, Diaspora's best seller, would cost $13.50, and saffron grown by a third generation farmer in Kashmir, almost $20. 'We so deeply don't want to pass on prices to consumers,' Javeri Kadri said from Mumbai, where she was on business. 'It really is a lose-lose.' Higher tariffs are also expected to squeeze Indian restaurants. Chef Srijith Gopinathan is perhaps the best known Indian chef in the Bay Area. At his celebrated Cal-Indian restaurant Copra, he taps into his memories to highlight the flavors of his native Kerala. He uses fresh produce and meats from Bay Area purveyors across the Bay Area, offering a break from tariffs. Still, his kitchen is filled with irreplaceable Indian ingredients and equipment like grinders and special biryani pots. 'To make a biryani, you would need cinnamon, cloves, and cardamom. Indian cooking is all about blends,' he said. 'You cannot get Basmati rice from a different country,' he went on. Versions of the crop can be produced elsewhere, but like Champagne, it's a geographically indicated product grown on the Indian subcontinent. 'It has to be from India,' he said.
