HOUSTON INNOVATORS PODCAST EPISODE 73

Houston venture capitalist says it's time for more women in VC

Samantha Lewis, principal at Mercury Fund, joins this week's episode of the Houston Innovators Podcast. Photo courtesy of Mercury Fund

In all the turmoil of 2020, Samantha Lewis had at least one silver lining. The former director of Goose Capital transitioned into her new position as principal at Mercury Fund.

However fortunate she feels to have her new position, she shares on the Houston Innovators Podcast this week that there's not nearly enough of women like her in venture capital.

"The bottom line is there has to be more women with check-writing abilities," Lewis says on the show. "And when there is more women with check-writing abilities, more women will get funded."

Joining the podcast at the start of Women's History Month, Lewis says that the pandemic disproportionately affected women's careers across the board — but when it comes to VC, the solution is growing the female representation at firms.

"It is up to the people in VC hiring or the institutional investors who are giving money to funds to make sure there's a woman on the investment team," she says — adding that just one isn't enough.

In her role at Mercury, Lewis is helping build up the fund's processes — something she specialized in at Goose. She's also focused on building up the portfolio around a specific theme.

"One of the things specifically that Mercury brought me over to focus on from an investment perspective is something we're calling our 'power theme,'" Lewis says. "Think about it as giving people the power to make decisions that are authentic to their values around sustainability and impact."

There have been significant changes in consumer values driven by millennials, and businesses are prioritizing sustainability and transparency in order to keep up. Lewis discusses how Houston-based Topl, which is one of Mercury's portfolio companies, has a major role to play in this space.

Another key area of interest for Lewis is fintech.

"The other piece of the theme is thinking about the democratization of financial services," Lewis says. "Legacy financial institutions have ignored large groups of our population here in America and broader for a very long time. Technology is actually breaking down a lot of those barriers, so there are all these groups that have traditionally been ignored that now technology can reach to help them build wealth."

Lewis discusses more about how Mercury Fund is at an inflection point and how the Houston innovation ecosystem is developing with intention on the episode. Listen to the full interview below — or wherever you stream your podcasts — and subscribe for weekly episodes.



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Building Houston

 
 

With Clutch, connecting brands with creators has never been easier and more inclusive. Photo courtesy of Clutch

An app that originally launched on Houston college campuses has announced it's now live nationwide.

Clutch founders Madison Long and Simone May set out to make it easier for the younger generation to earn money with their skill sets. After launching a beta at local universities last fall, Clutch's digital marketplace is now live for others to join in.

The platform connects brands to its network of creators for reliable and authentic work — everything from social media management, video creation, video editing, content creation, graphic design projects, and more. With weekly payments to creators and an inclusive platform for users on both sides of the equation, Clutch aims to make digital collaboration easier and more reliable for everyone.

“We’re thrilled to bring our product to market to make sustainable, authentic lifestyles available to everyone through the creator economy," says May, CTO and co-founder of Clutch. "We’re honored to be part of the thriving innovation community here in Houston and get to bring more on-your-own-terms work opportunities to all creators and businesses through our platform.”

In its beta, Clutch facilitated collaborations for over 200 student creators and 50 brands — such as DIGITS and nama. The company is founded with a mission of "democratizing access to information and technology and elevating the next generation for all people," according to a news release from Clutch. In the beta, 75 percent of the creators were people of color and around half of the businesses were owned by women and people of color.

“As a Clutch Creator, I set my own pricing, schedule and services when collaborating on projects for brands,” says Cathy Syfert, a creator through Clutch. “Clutch Creators embrace the benefits of being a brand ambassador as we create content about the products we love, but do it on behalf of the brands to help the brands grow authentically."

The newly launched product has the following features:

  • Creator profile, where users can share their services, pricing, and skills and review inquiries from brands.
  • Curated matching from the Clutch admin team.
  • Collab initiation, where users can accept or reject incoming collab requests with brands.
  • Collab management — communication, timing, review cycles — all within the platform.
  • In-app payments with a weekly amount selected by the creators themselves.
  • Seamless cancellation for both brands and creators.
Clutch raised $1.2 million in seed funding from Precursor Ventures, Capital Factory, HearstLab, and more. Clutch was originally founded as Campus Concierge in 2021 and has gone through the DivInc Houston program at the Ion.

Madison Long, left, and Simone May co-founded Clutch. Photo courtesy of Clutch

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