Watch: Fundraising for Female Founders, in Partnership with Bank of America

Breanna De Vera

Breanna de Vera is dot.LA's editorial intern. She is currently a senior at the University of Southern California, studying journalism and English literature. She previously reported for the campus publications The Daily Trojan and Annenberg Media.

Female Founders

Female founder and funders explored how female founders and investors are navigating the landscape during dot.LA's recent strategy session. Watch the full video, and read our takeaways here:


Watch: Fundraising for Female Founders

Five Tips for Women Entrepreneurs Raising Money

Female founders are gaining ground in venture capital, but the funding gap between genders remains broad. ILIA founder Sasha Plavsic, Rael CEO and co-founder Yanghee Paik, Bank of America Senior Vice President and Market Manager Grace Kangdani and Upfront Ventures Partner Aditi Maliwal explored how female founders and investors are navigating the landscape during dot.LA's recent strategy session.


One of the biggest initial challenges for women entrepreneurs with female-focused products is convincing investors of their value.

Yanghee Paik, founder of Rael, said that because her company's products are centered around feminine care and feminine health, it could be difficult to explain to male investors why Rael was so necessary.

"There have been a lot of big companies who have been pushing some new innovations, but none of them has been really focused on the need or the natural aspect of feminine care products," said Paik. "That took a lot of effort for us — to really do a lot of pitching with a lot of education about the products' industry itself."

But when founders — not just female founders — know their markets, their value proposition and build their network, they have the tools for success.

Grace Kangdani, senior vice president at Bank of America shared key characteristics of successful presentations, products and companies.

"A lot of the people with the checkbook, let's be honest, it's still male dominated," said Kangdani. "Have (a) network of people and different kinds of people. If you're selling a women-specific targeted product, have men in the mix to bounce off ideas, [to see if] it's resonating with them too. Know your product. Know your value proposition ... build your network and build your tribe."

Relationships are key when building a team.

Rael's founding team is a group of three women, including Paik, and she shared how they support each other through the ups and downs of running a company.

"Being an entrepreneur is a very lonely journey, and sometimes you need the support from your team or co-founders or investors. It's always the easiest [when you] have co-founders to talk about the challenges," said Paik.

Sasha Plavsic, founder of the makeup brand ILIA shared that because she started very grassroots, surrounding herself with a strong network was key to expanding her company.

"In business, it's ultimately about relationships and building that trust, and it doesn't matter what stage you're at," Plavsic said. "But definitely in the earlier stages it is more of a challenge, and [if] you do need some people skills and if you don't have it, you need a partner that will need to bring it."

Access, successfully presenting your company and your value and confidence are key for female founders to break into male-dominated spaces.

Upfront Ventures partner Aditi Maliwal has an extensive background in fintech, a space that is still extremely male dominated, and finds value in seeking out other women in the industry.

"There aren't enough opportunities for female founders to get in front of a whole variety of other people," Maliwal said. "I relate very well with [female founders] and so I want to be able to help my demographic. That being said, that's not to say that I don't want to spend time with other demographics — I absolutely do. I just want to find ways to have alignment in my values and hopefully their values."

Genuinely listening to groups outside your own demographic is key to promoting gender parity and supporting minority entrepreneurs.

That goes beyond just finding individuals from other backgrounds — it means truly listening to people and their motivations, even when it doesn't directly benefit you.

"It's pretty important to ensure that you're sort of giving space to these people, giving space to female founders giving them space to speak, to come in and be able to pitch, even if it's not necessarily a space that you would invest in," Maliwal said. "Ensure that you're spending time actually, getting to know the founder and not just … because you're a woman or you're such and such demographic, but [asking] 'what's your story?'"

About the Speakers:

Sasha Plavsic,

Sasha Plavsic, founder of ILIA Beauty

Sasha Plavsic, Founder of ILIA Beauty

Born in Vancouver and raised in a rural, ocean-side setting just outside the city. Sasha's interests fell into design, studying typography in London and New York. She found herself in Los Angeles in 2006 and spent several years working as a branding executive within the fashion and beauty industries. After moving home to Vancouver for a brief sabbatical, her mother encouraged her to read the ingredient list on her favorite lip balm. Sasha was shocked to discover many of the ingredients were not safe, and it's something she used daily. The challenge was set: re-create her favorite lip balm so that it would be safe, effective and natural. And so the story of ILIA began. Sasha currently resides near ILIA's headquarters in Laguna Beach, CA with her husband and two young daughters.

Yanghee Paik

Yanghee Paik, ceo and co-founder of Rael

Yanghee Paik, CEO and Co-Founder of Rael 

Yanghee Paik is the co-founder and CEO of Rael, an L.A.-based clean feminine care and skincare startup founded by three female entrepreneurs in 2017. As a seasoned professional with nearly 15 years of experience in corporate strategy, sales and marketing, and global expansion, Yanghee has been the driving force in growing Rael as a trusted organic feminine care brand, expanding its reach beyond digital platforms and the U.S. market. She is deeply passionate about making positive impact on women's lives and growing Rael as a holistic personal care brand for women that provides innovative, clean, and effective solutions around their hormonal cycle and life. A native of Seoul, Korea, Yanghee earned her MBA from Harvard Business School and received a B.A. degree in business from Seoul National University. Now she considers L.A. her home and loves its sunny weather, diverse culture and excellent Korean food.

Aditi Maliwal,

Aditi Maliwal, partner at Upfront Ventures

Aditi Maliwal, Partner at Upfront Ventures 

Aditi leverages her operating experience and global perspective to invest in and support the highest-potential founders and teams. Before joining Upfront, Aditi was a product manager on the Next Billion Users team at Google, in a hybrid role leading investments in and building product for companies in emerging markets. Previously she worked on the corporate development team at Google, leading acquisitions across various sectors including AI, messaging and media. Prior to Google she worked in early-stage venture at Crosslink Capital leading investments in BetterUp, Chime and PowerToFly, and before that in investment banking at Deutsche Bank, in the technology banking group. She holds a B.A. in psychology from Stanford University and has lived between India, Hong Kong, Singapore and San Francisco.

Grace Kangdani

Grace Kangdani, senior vice president, market manager at Bank of America

Grace Kangdani, Senior Vice President, Market Manager at Bank of America 

Grace Kangdani is Market Manager of the L.A. Metro Business Banking team, leading a team of relationship managers who work with clients to proactively provide strategic advice and integrated financial solutions. Core capabilities include credit and financing solutions, treasury management, long-term fixed rate commercial mortgage (conventional and SBA 504), equipment finance and merchant processing.

In January 2019, Grace was recognized by the Los Angeles Business Journal as one of the Top Women in Banking. In December 2020, she was named in 2020 Thriving in Their 40s, a list of Top Professionals in Los Angeles, as recognized by Los Angeles Business Journal. She currently attends Pacific Coast Banking School, at University of Washington.

Active in the community, Grace serves on the Board of Trustees of P.S. Arts, a nonprofit organization that provides high-quality arts education programs in underserved public schools and communities. She is also Board Member for Women's Leadership Council, a women networking organization built around the spirit of both professional and personal accomplishment through collaboration, inspiration and support.

Kelly O'Grady, chief host and correspondent at dot.LA

Kelly O'Grady, Chief Host & Correspondent at dot.LA

Kelly O'Grady is dot.LA's chief host & correspondent. Kelly serves as dot.LA's on-air talent, and is responsible for designing and executing all video efforts. A former management consultant for McKinsey, and TV reporter for NESN, she also served on Disney's Corporate Strategy team, focusing on M&A and the company's direct-to-consumer streaming efforts. Kelly holds a bachelor's degree from Harvard College and an MBA from Harvard Business School. A Boston native, Kelly spent a year as Miss Massachusetts USA, and can be found supporting her beloved Patriots every Sunday come football season.

Sam Adams, co-founder and ceo of dot.LA

Sam Adams, Co-Founder and CEO of dot.LA

Sam Adams serves as chief executive of dot.LA. A former financial journalist for Bloomberg and Reuters, Adams moved to the business side of media as a strategy consultant at Activate, helping legacy companies develop new digital strategies. Adams holds a bachelor's degree from Harvard College and an MBA from the University of Southern California. A Santa Monica native, he can most often be found at Bay Cities deli with a Godmother sub or at McCabe's with a 12-string guitar. His favorite colors are Dodger blue and Lakers gold.


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Cadence

Robot Bartenders, Space Construction and a Weight Loss App: Highlights From Techstars’ LA Demo Day

Samson Amore

Samson Amore is a reporter for dot.LA. He holds a degree in journalism from Emerson College and previously covered technology and entertainment for TheWrap and reported on the SoCal startup scene for the Los Angeles Business Journal. Send tips or pitches to samsonamore@dot.la and find him on Twitter @Samsonamore.

Robot Bartenders, Space Construction and a Weight Loss App: Highlights From Techstars’ LA Demo Day
Andria Moore

On Wednesday, Techstars’ fall 2022 class gathered in Downtown Los Angeles to pitch their products to potential investors in hopes of securing their next big funding round. dot.LA co-sponsored the demo day presentation alongside Venice-based space news website Payload.

Read moreShow less

Derek Jeter’s Sports Trading Card Company Brings in $10M

Kristin Snyder

Kristin Snyder is dot.LA's 2022/23 Editorial Fellow. She previously interned with Tiger Oak Media and led the arts section for UCLA's Daily Bruin.

sports trading cards
Arena Club /Andria Moore

Sports trading card platform Arena Club has raised $10 million in Series A funding.

Co-founded by CEO Brian Lee and Hall of Fame Yankees player Derek Jeter, Arena Club launched its digital showroom in September. Through the platform, sports fans can buy, sell, trade and display their card collections. Using computer vision and machine learning, Arena Club allows fans to grade and authenticate their cards, which can be stored in the company’s vault or delivered in protective “slabs.” Arena Club intends to use the new cash to expand these functions and scale its operations.

The new funding brings Arena Club’s total amount raised to $20 million. M13, defy.vc, Lightspeed Ventures, Elysian Park Ventures and BAM Ventures contributed to the round.

“Our team is thankful for the group of investors—led by M13, who see the bright future of the trading card hobby and our platform,” Lee said in a statement. “I have long admired M13 and the value they bring to early-stage startups.”

M13’s co-founder Courtney Reum, who formed the early-stage consumer technology venture firm in 2016 alongside his brother Carter Reum, will join Arena Club’s board. Reum has been eyeing the trading card space since 2020 when he began investing in what was once just a childhood hobby.

The sports trading card market surged in 2020 as fans turned to the hobby after the pandemic brought live events to a standstill. Since then, prices have come down, though demand remains high. And investors are still betting on trading card companies, with companies like Collectors bringing in $100 million earlier this year. Fanatics, which sells athletic collectibles and trading cards, reached a $31 billion valuation after raising $700 million earlier this week. On the blockchain, Tom Brady’s NFT company Autograph lets athletes sell digital collectibles directly to fans.

As for Arena Club, the company is looking to cement itself as a digital card show.

“Providing users with a digital card show allows us to use our first-class technology to give collectors from all over the world the luxury of being able to get the full trading card show experience at their fingertips,” Jeter said in a statement.

Airbnb Is Expanding Short-Term Rentals in LA, but Hosts Likely Still Won’t Profit

Amrita Khalid
Amrita Khalid is a tech journalist based in Los Angeles, and has written for Quartz, The Daily Dot, Engadget, Inc. Magazine and number of other publications. She got her start in Washington, D.C., covering Congress for CQ-Roll Call. You can send tips or pitches to amrita@dot.la or reach out to her on Twitter at @askhalid.
LA house

L.A.’s lax enforcement of Airbnbs has led to an surge of illegal short-term rentals — even four years after the city passed a regulation to crack down on such practices. But what if hosts lived in a building that welcomed Airbnb guests and short-term rentals?

That’s the idea behind Airbnb’s new push to expand short-term rental offerings. The company is partnering with a number of corporate landlords that agreed to offer “Airbnb-friendly” apartment buildings, reported The Wall Street Journal last week. According to the report, the new service will feature more than 175 buildings managed by Equity Residential, Greystar Real Estate Partners LLC and 10 other companies that have agreed to clear more than 175 properties nationwide for short-term rentals.

But prospective hosts in Los Angeles who decide to rent apartments from Airbnb’s list of more than a dozen “friendly” buildings in the city likely won’t earn enough to break even due to a combination of high rents, taxes and city restrictions on short-term rentals. Rents on one-bedroom apartments in most of the partnered buildings listed soared well over $3,000 a month. Only a few studios were available under the $2,000 price range. If a host were to rent a one bedroom apartment with a monthly rent of $2,635 (which amounts to $31,656 annually), they would have to charge well over the $194 average price per night for Los Angeles (which amounts to $23,280 per year) according to analytics platform AllTheRooms.

Either way, residents who rent one of these Airbnb friendly apartments still have to apply for a permit through the City of Los Angeles in order to host on Airbnb.

“[..Airbnb-friendly buildings] seems like a good initiative. However, from a quick look, it seems that given the rent, Airbnb revenue wouldn’t be enough to cover all expenses if the host follows the city’s policy,” says Davide Proserpio, assistant professor of marketing at the USC Marshall School of Business.

In addition, since L.A.’s 120-day cap on short-term rentals still applies to the buildings on Airbnb’s listing platform, that greatly limits the number of longer-term guests a resident can host. Not to mention, some of the buildings that Airbnb lists have even shorter limits – The Milano Lofts in DTLA for example only allows residents to host 90 nights a year.

Airbnb’s calculations of host earnings may be greatly misleading as well, given that the estimate doesn’t include host expenses, taxes, cleaning fees or individual building restrictions. For example, Airbnb estimates that a resident of a $3,699 one bedroom apartment at the Vinz in Hollywood that hosts 7 nights a month can expect $1,108 a month in revenue if they host year-round. But the Vinz only allows hosts to rent 90 days a year, which greatly limits the potential for subletters and a consistent income stream.

Keep in mind too that since the apartment will have to serve as the host’s “primary residence”, hosts will have to live there six months out of the year. All of which is to say, it’s unclear how renting an apartment in an “Airbnb-friendly” building makes hosting easier — especially in a city where illegal short-term rentals already seem to be the norm.

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