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Anu Duggal on the Future of Female Entrepreneurship
Anu Duggal on the Future of Female Entrepreneurship

Newsweek

time12 hours ago

  • Business
  • Newsweek

Anu Duggal on the Future of Female Entrepreneurship

Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. 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.

France football boss backs women's coach despite 'cruel' Euro loss
France football boss backs women's coach despite 'cruel' Euro loss

LeMonde

timea day ago

  • Sport
  • LeMonde

France football boss backs women's coach despite 'cruel' Euro loss

French Football Federation (FFF) president Philippe Diallo told Agence France-Presse on Monday he was backing women's coach Laurent Bonadei despite the "cruel disappointment" of France being knocked out at the quarter-final stage of Euro 2025. Les Bleues lost on penalties to a Germany side who played with 10 women for almost all of a gruelling encounter which finished 1-1 after extra-time. But for Diallo there's no question of sacking Bonadei. "After the Olympics, we put our faith in Laurent until the World Cup (in 2027) with the aim of helping this team make the transition from one generation to the next," said Diallo. "With 11 consecutive wins and a successful group stage (at the Euros), there are positive things to remember. But with a lot of humility, we have to get back to work, and that will be with Laurent Bonadei," he added. However, the federation president made no attempt to play down the heartbreak of failing to progress past the quarter-finals despite being a goal and a player up in normal time. Diallo described the loss to Germany as "a cruel disappointment," adding "everything had been put in place for this team to go much further in the tournament." "It's a real setback, the eighth time in the last nine major tournaments that France have been eliminated at the quarters," he added. "We're going to have to think with the coach and those in charge of women's football at the FFF about how we can work better." Bonadei did not include former captain Wendie Renard and France's highest scorer ever Eugénie Le Sommer in his squad. In the group phase, France beat reigning champions England 2-1 in their opening match before thrashing Wales 4-1 and outclassing the Netherlands 5-2.

Why is Kylian Mbappe's €180,000 donation under scrutiny? Check details
Why is Kylian Mbappe's €180,000 donation under scrutiny? Check details

Mint

time3 days ago

  • Sport
  • Mint

Why is Kylian Mbappe's €180,000 donation under scrutiny? Check details

Kylian Mbappe, the Real Madrid star and French national team captain, is known for his generosity off the pitch, often donating his international match bonuses to charitable causes. However, his recent donation of €180,300 from his 2022 FIFA World Cup bonus to five French riot police officers has landed him in trouble. The funds, meant as an act of gratitude for the officers' protection during the Qatar tournament, where France finished as runners-up, have triggered a formal investigation by French authorities. But why? Let's find out. Kylian Mbappe distributed the €180,300 to five members of France's riot police unit (CRS), who ensured the safety of the French team during the 2022 World Cup. Four officers received €30,000 each, while their commanding officer was given €60,300. The payments were made via personal check in June 2023, drawn from Mbappe's World Cup bonus. While Kylian Mbappe's intention was to honour the officers' service, France's anti-money laundering unit, Tracfin, flagged the transactions as 'unusual,' prompting an investigation by the General Inspectorate of the National Police (IGPN) and the Paris Public Prosecutor's office. The investigation centers on concerns about the legality and ethics of the payments. Tracfin, tasked with monitoring financial crimes like money laundering and tax fraud, raised questions about whether the donations were properly declared and if they were truly for the officers' World Cup duties. A key point of contention is the involvement of one officer in Mbappe's 2023 trip to Cameroon, where he accompanied the footballer as part of the French Football Federation's (FFF) security team. This has led to speculation that the donation might have been a payment for personal security services, which could violate French laws on undeclared work. French regulations are strict about public servants receiving private funds, as such payments could imply favouritism or hidden compensation. Penalties for undeclared work include up to three years in prison and fines of €45,000, with even harsher consequences if money laundering is proven. The investigation aims to determine if the payments were lawful or constituted 'under-the-table' transactions. Jean-Baptiste Soufron, the lawyer for the officer who received €60,300, has defended the donation's legality. 'This donation received for the 2022 World Cup was made by check and did not need to be declared,' Soufron stated. 'My client's interventions did not receive any compensation and fell within his normal role as head of security for the FFF,' he added. As the probe continues, authorities will determine whether the donations adhered to legal and ethical standards.

Four things the French can learn from the British about making cheese
Four things the French can learn from the British about making cheese

Telegraph

time14-07-2025

  • Politics
  • Telegraph

Four things the French can learn from the British about making cheese

No country is more closely associated with cheese than France. The average French citizen consumes 27 kilos of the stuff per year, more than double their British counterpart, while the country exports over £3 billion of cheese annually. To put things in perspective, Britain exports under £1 billion. Yet despite its dizzying array of producers (an estimated 22,000), who create more varieties of fromage than even Charles de Gaulle could imagine, there is plenty the French can learn from this country – as a delegation of 14 French cheesemongers discovered when they visited the UK on an educational tour in June. The party toured farms – including Somerset cheddar-makers Westcombe Dairy and White Lake, which produces top goat's cheeses in the same county – as well as cheese shops in London. Among its number were David Bazergue, director of the Fédération des Fromagers de France (FFF), who tells me he is impressed by how entrepreneurial Britain's cheese industry is, and Virginie Boularouah, a Parisian cheesemonger. A lover of British cheese (which is in high demand in the French capital), Boularouah admits that she has had to stop selling it at her shop since Brexit, because the bureaucracy makes it 'too expensive'. I joined the delegation at an innovative competition run by the Academy of Cheese, hosted in London. Now in its fourth year, Affineur of the Year showcases the role of the affineur (for which there is no direct English translation) – someone who ripens and ages cheese. In France, affinage often occurs away from the farm, whereas British cheesemakers traditionally age their produce themselves. Surrounded by cheddars, British brie, caerphilly and more, Team France talked traditions, techniques and changing tastes with their British counterparts. Here's what they learned. The British are better at experimenting French cheese makers, admits Boularouah (one of the most renowned affineurs in France), are hampered by 'the weight of tradition. Everything is a headache, we do not dare to do things.' By contrast Britain, which lost much of its cheesemaking culture in the 20th century, is more open to experimentation, she argues. 'In France we are afraid, you're not afraid' – hence examples at the Affineur of the Year competition of caerphilly washed in a leek brine (perhaps to emphasise its Welshness), and a cheddar that, thanks to its ageing process, was miraculously transformed into an Alpine-style cheese. The French can follow in our footsteps to create brand new cheeses Affineurs were given up to five cheeses (Quicke's cheddar, Baron Bigod brie, Gorwydd caerphilly, White Lake solstice and Cropwell Bishop blue Shropshire) and tasked with maturing them however they liked, tweaking how the cheese was washed, the temperature and humidity of the ageing rooms, adding rubs, flavourings or coatings. It yielded versions coated with rose petals, dried herbs and fruit, others soaked in beer – and a winning cheddar by Perry Wakeman of Rennet & Rind in Cambridge that had dropped its traditional tang and was instead a brothy, savoury, umami-rich marvel. Boularouah hopes to introduce an affinage competition to France, where there isn't an equivalent. 'They've got lots of cheese competitions in France, so it's amazing they like this and want to see it [there],' says Tracey Colley, founding director of the Academy of Cheese. Our love of cooking with cheese might save France's smelly fromages A recent study suggested France's youngsters are turning their noses up at pungent cheeses such as Époisses, preferring the sweeter flavours of Comté. Boularouah acknowledges the shifting palate: people now like 'sweet, sweet, sweet,' she says. When she serves cheese buffets, most guests avoid smellier numbers: 'We are going to lose them,' Boularouah warns. But Bazergue believes the French could learn a lot from Britons' love of cooking cheese (where honky fromage can hold its own), as one way to help 'keep the tradition' of cheesemaking alive. British cheesemongers do more than just flog fromage A good purveyor of cheese not only supports a farmer by purchasing, but often enhances their product, putting their own stamp on it. Affinage can boost a cheesemonger's profile: 'when there's so much competition out there it gives cheesemongers a unique selling point,' says Colley. In recent years, producers such as London's Neal's Yard Dairy and North Yorkshire's Courtyard Dairy have led Britain's off-farm affinage movement, turning out the likes of 24-month aged Montgomery cheddar and extra-aged Old Winchester.

Lyon stave off relegation after successful appeal
Lyon stave off relegation after successful appeal

New Straits Times

time10-07-2025

  • Business
  • New Straits Times

Lyon stave off relegation after successful appeal

PARIS: Seven-time French champions Lyon have kept their Ligue 1 place after winning an appeal against relegation, the French Football Federation (FFF) said today. Last month, Lyon were relegated to the second-tier Ligue 2 by French football's financial watchdog, who had placed the club under budgetary restrictions in November. American businesswoman Michele Kang then took over as club president from compatriot John Textor. The FFF said Lyon would have to cut their wage bill and transfer budget for the upcoming campaign. "Lyon would like to thank the appeal commission after it recognised the ambition of the new club management," the club said in a statement. "Today's decision constitutes the first step of re-establishing trust in Lyon." Two weeks ago, Textor said he would take a step back from the day-to-day running of the club. The second-largest shareholder at the club behind Textor, Kang was already president of the Lyon women's team. "I'm actually very proud of what we have accomplished to reach this decision, and I can honestly say that we gave everything we have," said Kang. "This was really a collective mission and a goal to save the club... and continue its legacy," she added. "We are going to do everything in our power to ensure that we're going to leave this club a little better than the way we found it." Lyon finished sixth in Ligue 1 last season to qualify for the Europa League and will be allowed to play in that competition after the successful appeal, but they had already agreed to pay UEFA a fine. Textor took over as Lyon's majority owner in December 2022 from long-standing boss Jean-Michel Aulas, who had overseen unprecedented success at the French outfit. Lyon won seven consecutive French titles between 2002 and 2008, under Aulas. "Michele Kang has been able to provide, with courage, the guarantees needed to preserve the future of the club," Aulas said on social media. "But the most difficult part is to come. A new period is underway, one of reconstruction." "I will remain committed, alongside Michele Kang and all those who believe in the strength of Lyon's ambition," the 76-year-old Frenchman added. Textor, 59, also holds stakes in Brazilian side Botafogo and Belgian club Molenbeek. He sold his 43 per cent stake in Premier League side Crystal Palace in mid-June as he tried to balance the books at Lyon. Lyon have reduced their salary bill with attacker Alexandre Lacazette and goalkeeper Anthony Lopes released. They have sold Rayan Cherki to Manchester City and Maxence Caqueret to Como. Textor said his Eagle group has also put €83 million (RM414 million) into the club. Only five clubs have won Ligue 1 more often. Paris Saint-Germain hold the record with 13 titles. Lyon began their pre-season on Monday. Their first game of the Ligue 1 season is a trip to Lens on the weekend of Aug 15-17. - AFP

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