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In October, Sutian Dong was the guest speaker at the monthly Female Founders networking event, where NYU founders committed to gender equity come together to support one another and learn skills to scale their startups. Learn more about the NYU Female Founders Community here.
Meet Sutian Dong
Sutian Dong (Stern), is a partner at Multitudes, where she believes that the next generation of innovation will be different from the last. She also co-foundered the Global Women in VC Community, the largest and most powerful network of female VCs in the world.
Recently, we had the privilege of hosting a panel discussion with Sutian, a leading voice in venture capital and a passionate advocate for female founders. Her insights shed light on the unique challenges and opportunities women face in the startup ecosystem. Here are some key takeaways from our conversation:
Recognizing Opportunity in Challenges
In the early days, when Dong first began her journey as a VC, she shared her experience of seeing promising deals with female founders fall through, which sparked her to identify gaps in the market. She noticed there wasn't a strong community of women in VC. This mindset of turning setbacks into opportunities is crucial for aspiring investors and founders alike. She emphasized the importance of incubating ideas that resonate with the “edge of human consciousness,” suggesting that innovation often lies in uncharted territories.
This inspired her and her friend to begin Women in VC- a community for women in VC.
The Landscape for Women-Led Companies
Despite the potential of women-led companies, Sutian pointed out that many such ventures are still overlooked by investors. She highlighted the necessity of creating more diversity on the investment side of the table, noting that female fund investors are significantly underrepresented in venture capital. This gap creates an uphill battle for female entrepreneurs seeking funding.
Building Community
Jessica Paltz’s initiative, Women in VC, exemplifies how community-building can address these disparities. Sutian mentioned that among women identifying as partners in venture, about 25% are founders who have started their own funds. This shift shows that women are rewriting the rules of engagement in the industry.
Sutian also stressed the importance of being a “node” in building the network of your dreams. Authenticity is key—starting a community should stem from genuine passion rather than obligation. She shared the evolution of Women in VC, which has grown organically by responding to the needs of its community.
The Power of Connection
Sutian highlighted the unexpected power of a cold email in networking. Each individual is unique, like a snowflake, and has something special to contribute. She encouraged aspiring VCs and founders to dig deep into their motivations, asking themselves critical questions about their goals and visions.
Using the metaphor of climbing Mount Everest, she illustrated that there are multiple paths to success, encouraging attendees to explore various resources and avenues.
The Daily Life of a VC
A week in Sutian’s life involves engaging with portfolio companies, meeting with potential partners, and analyzing new deals. She reminded us that there’s always another opportunity to explore. Timing is crucial in the market, and camaraderie among VCs can make a significant difference in navigating this challenging landscape.
Celebrating Small Wins
Sutian urged us to celebrate even the smallest achievements, as these moments contribute to our overall sense of fulfillment. She remarked that the differences between men and women are often outweighed by the shared human experience, with women frequently displaying a balanced perspective on the future of their companies.
Embracing Individuality
She posed thought-provoking questions: “What do I believe in that no one else believes in?” and “What do I see that no one else sees?” These reflections can lead to innovative ideas that might initially seem unconventional. Sutian reminded us that enthusiasm can drive progress, but it's also essential to practice self-compassion and strive for balance in work and life.
The insights from Sutian Dong offer a roadmap for aspiring female founders and investors. Her call to action emphasizes the need for a more inclusive and diverse venture capital landscape, the importance of community, and the value of individuality in the entrepreneurial journey. As we move forward, let’s remember to support one another, celebrate our successes, and continue to challenge the status quo.
Did you miss this Female Founders event? Join us for the next one on Nov. 1 with Drew Lederman (Tisch '20), Co-Founder & CEO of Resist Nutrition, and Sruti Madhusudhan (Tandon '23), Co-Founder & COO of Building Diagnostic Robotics. Claim your spot here. See you there!
