FOUNDER & CEO, PLUM ALLEY; FOUNDER, WOMEN INNOVATE MOBILE; FORMER MEMBER, GOLDEN SEEDS; SVP, SHATTUCK HAMMOND PARTNERS; GOLDMAN SACHS
By content editorial director photographer
Crowdfunding platforms use the power of the internet and social media to raise small amounts of money from lots of people. While crowdfunding’s nothing new, Plum Alley is the first to focus on women entrepreneurs. With a background in finance from Columbia Business School, and over 21 years as an investment banker on Wall Street, Deborah Jackson, Plum Alley Founder and CEO knows all too well the investment community is a male-dominated business.
“WOMEN NEED TO STEP UP. WOMEN NEED TO INVEST. IT’S THE BEST OPPORTUNITY THEY HAVE TO MAKE A RETURN WHILE FURTHERING THEIR VALUES.”
“White men control the flow of capital,” said Deborah. “That’s part of the problem. I’ve been in plenty of those meetings. On one side you have a fabulous woman, pitching a great idea. Great company, big company, big business! On the other side, you have a bunch of guys who say, ’It’s not my interest.’”
At Goldman Sachs; raising money on Hillary Clinton’s campaign; mentoring women entrepreneurs, or as a former member of Golden Seeds, an early-stage investment firm focused on women-led businesses, Deborah’s seen the lack of VCs who understand and want to fund female-run companies.
“Everything I’m doing now comes from those experiences of seeing amazingly talented women who just hit that glass ceiling or couldn’t break through. Women don’t have access to capital. They don’t get the support they need, which means women don’t create companies, or even when they do, they’re starved for cash.”
Plum Alley helps women entrepreneurs raise money without giving up ownership of their company. With crowdfunding, anyone—not just the wealthy—can use their capital to further companies and causes they believe in, and make good things happen in the world. Because crowdfunding platforms don’t provide investors with equity, an investor’s reward can take many shapes. It could be lunch with someone they’d like to meet, an experience, a thank you note, or if they help fund a documentary film, their name is in the credits.
“Women over 40 control the wealth in this country. We spend more than the 20 to 40 somethings put together, but most women don’t think about investing. They think about charity and philanthropy. Women need to step up. Women need to invest. It’s the best opportunity they have to make a return while furthering their values.
“A lot of women aren’t familiar with early-stage investing. They may understand traditional stocks and bonds, but with early-stage investing, there are huge opportunities there. Huge wealth creation.
“If a woman has a portfolio of stocks and bonds… Take care of that first, because you need that for the security of you and your family. But if you’re in a financial position to do something beyond that, other than philanthropy, think about impact investing: How do I make money but also do something I love? If you give women an opportunity to invest in things they know and care about, they’ll make the world a better place, and they can get an economic return.”
Women need to step up & invest. It’s the best opportunity they have to make a return while furthering their values.
with Deborah
MOST IMPORTANT SURVIVAL SKILL
It’s a combination. I exercise and tell my brain I’m not going to think about this. It’s a version of meditation where you clear your brain. I’m practicing that more and more, consciously saying, ‘I’m not going to think about my company.’ That carries over to my personal life, so I’m present in the moment with my husband and my children.
EUREKA MOMENT
When I decided I wanted to have children. I was in a cab, going to the airport for a business trip. I remember seeing these moms, walking with their children to school and thinking, I like my life, but I want to have that as well.
WHAT EMPOWERS YOU
I’m not driven by what other people think. Growing up, I lived in a lot of different places, so I wasn’t influenced by my peer group. I had to rely more on my own inner resources rather than external validation. I’ve always had my own internal compass.
THROWS YOU OFF YOUR GAME
Seeing the inequity with women entrepreneurs. My sign is Libra, the lover of peace and harmony, the balance of scales, fairness and justice. When I see injustice, I feel like I need to do something about that. If I can’t make a difference, it bothers me.
ASPIRE TO
Plum Alley sees a lot of additional things we can do in 2015: Increasing the base of capital available for female entrepreneurs; increasing the base of women and men who invest in female founded companies and other opportunities that help women get more capital and create more socially relevant ventures.
WHAT’S NOT WORTH IT ANYMORE
The first couple of years I was in business, I made it a practice to go to all the events to get exposure and to understand the next generation of entrepreneurs. I feel I’ve done that. I’ve learned what I needed. I can give back, but I don’t need to go to all of those events.
WHAT MAGAZINES DO YOU READ
I used to read a lot of magazines. Now I read a few. What I really like to read is my Twitter feed, because I’ve discovered people and blogs I find interesting. If something’s going on, I can follow my Twitter feed. The New York Times is my home page on my computer screen, so I can see and read about breaking news.
GUILTY PLEASURE
I have to really control myself around ice cream and chocolate cupcakes.
EARLIEST MEMORY OF FASHION OR MAKEUP
My grandmother was a fashion designer in Canada, so my mother was always interested in fashion. When I was growing up, she was a seamstress. I drew her a picture of what I wanted for my prom dress, and she made it for me. I’ve always loved fashion, but I think of it as art. It’s a very visual thing for me. I don’t care whether it’s a brand name, or if it’s not “approved” by magazines.
ACCESSORIES
I always think about clothes first and accessories secondary. I fall in love with one piece, a shirt or pants, but it doesn’t necessarily go with anything I have in my closet.
STYLE NOW VERSUS 20 YEARS AGO
When I was working in finance on Wall Street, I dressed conservatively, but always a little gutsy. I remember wearing a turquoise leather skirt but with a conservative silk top. Now I don’t have that dress code, and I love it. I like color. There was a period of time where I was in my black phase, but I am way over that now.
DRESS UP OR CASUAL
I like them both, equally. I like to be so comfortable that I don’t notice my clothes.
FAVORITE DESIGNERS
Over the years I’ve consistently found things from Oscar de la Renta, but I don’t go there first. They’re always so well-made. Sometimes I like Cavalli. When I shop, I’m less focused on a label or a designer. I do like Morgane Le Fay, a smaller brand.
MISSING FROM YOUR CLOSET
Comfortable everyday shoes. I have shoes I love that are not so comfortable. I have sneakers and boots I love, but the any day, put on a pair of comfortable shoes, I don’t have.
BIGGEST SPLURGE
Jewelry more so than clothes.
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