The Purse Podcast

The Purse Podcast

By Jana HlistovaBusinessInvesting
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The Purse Podcast episodes

  • #69: Women as decision makers and asset allocators with Patience Marime-Ball and Ruth Shaber MD

    Patience Marime-Ball has more than two decades of investment experience across capital markets, including debt and equity financing, large scale infrastructure, distressed assets, as well as venture stage opportunities.

    Previously, Patience was Principal Investment Officer and Global Head of Banking on Women at the International Finance Corporation (IFC) where she developed the Banking on Women business; Patience co-developed the first-ever gender bond issued on the Uridashi market. She is the founder/CEO of Women of the World Endowment, an investment nonprofit focused on centralizing women as economic, environmental, and social changemakers while delivering market-rate, risk adjusted returns and impact at scale.

    Patience holds a JD from the Pritzker School of Law and an MBA from Kellogg at Northwestern University.

    **

    Ruth Shaber, MD is the Founder and President of the Tara Health Foundation, which promotes health, well-being, and opportunity for women and girls through innovative evidence-informed programs. She is also the Co-founder and Board Chair of Rhia Ventures, a group of foundations and investors that collaborate to bring new types of capital and enterprise to the field of reproductive health in the United States.

    Ruth had a robust career as an Obstetrician and Gynecologist at Kaiser Permanente from 1990 to 2012.

    Ruth was featured in Forbes 2020 Impact 50: Investors Seeking Profit—and Pushing for Change for her contributions to the field of impact investing.

    Ruth holds an MD from the University of Pennsylvania and a BA from Yale University.

    In this conversation we cover the following:

    • Why women need to take centre stage in financial decision making and investing 
    • How women invest 
    • Why investing in female led innovation is key 
    • How we can put more money into the hands of women in order to drive better outcomes and create more wealth for women.
    • ***

      56 min
    • #68: Rising inflation and the cost of living crisis in the UK with Shaun Richards

      Shaun Richards is an independent economist who specialises in inflation measurement and monetary economics. This follows a career in the City of London where he specialised in derivatives (mainly options) on interest-rates and bonds.

      Shaun has also worked in Tokyo. He is a Bank of England watcher which covers the issues of monetary policy and money printing or quantitative easing (QE). Shaun also traded as a local on the London International Financial Futures Exchange where he mostly traded futures and options on future and present UK interest rates.

      We cover the following in our conversation:

      • Why are we seeing a surge in inflation in the UK and globally?
      • Why is inflation data inaccurate and often misleading?
      • What will curb inflation: monetary & fiscal policy
      • How bad can it get? 
      • What will it take for the UK to recover from this cost of living crisis?
      • Listen to previous interviews with Shaun Richards here: episode #47 and episode #29.

        ***

        37 min
      • #67: The markets today, how to think about a difficult or bear market and what actions are European investors taking with Rebecca Chesworth

        Rebecca Chesworth is an equities strategist, a thought leader and a conference speaker.

        She loves to share a passion for equities investment built on extensive market and client knowledge from 30 years as a fund manager, an analyst and an investment specialist.

        Rebecca is an advocate of active investment selection and integration of ESG principles utilising cheap, flexible instruments such as exchange traded funds (ETFs).

        Rebecca is a lead strategist on sectors and ESG for SPDR ETFs at State Street Global Advisors.

        We cover the following in our conversation:

        • What is happening in the markets today?
        • How to think about a difficult or a bear market?
        • Rebecca shares her outlook for the rest of 2022 and for 2023. 
        • What actions European investors are taking?
        • And how you should be thinking about investing at this time?
        • ***

          19 min
        • #66: How more women can start to invest in female-led startups with Gillian Fleming

          Gillian Fleming's expertise includes Advisor, Investor and Non-Exec to start-up and spin-out companies with 20 years’ experience in the entrepreneurial ecosystem advising and nurturing early-stage ideas through to company creation. Specialising in technology commercialisation her expertise covers energy, oil and gas, infrastructure, engineering, biotech and food & drink sectors.

          With a grounding in sales and marketing within the energy and engineering sector across Europe she progressed into the University commercialisation and has successfully developed numerous startup / spinout companies from the Universities of Strathclyde, West of Scotland, Heriot Watt and Dundee.

          Currently, Gillian is Founding Director and CEO of Mint Ventures (Syndicate) Ltd, an angel group focused on investing in women led and diverse teams with a social ethical or environmental purpose. She also represents Kero Developments Partners in Scotland, a private VC that invests in early-stage engineering related start-up companies.

          She is also Entrepreneurial Scotland Saltire Fellow, a mentor for Women’s Enterprise Scotland (WES) as well as being an active angel investor.

          We cover the following in our conversation:

          • Female founders 
          • Why access to capital continues to be a challenge.
          • Female investors and why more women investing into female led innovation is key. 
          • Mint Ventures: the angel syndicate and what they invest in. 
          • And how we encourage more women to invest.
          • ***

            28 min
          • #65: Sextech, a trillion dollar market: an update on MLNP and the female founder journey with Cindy Gallop

            Cindy Gallop is the founder and CEO of MakeLoveNotPorn (MLNP) launched at TED 2009 – ‘Pro-sex. Pro-porn. Pro-knowing the difference’.

            In 2013 she turned MLNP into the world’s first user-generated, human-curated social sex video-sharing platform, socialising and normalising sex in order to make it easier to talk about, to promote consent, communication, good sexual values and good sexual behaviour. MakeLoveNotPorn is spearheading the Social Sex Revolution (the revolutionary part isn’t the sex, but the social). Given the challenges Cindy has faced finding investors, she is raising the world’s first dedicated sextech fund, All the Sky Holdings.

            She speaks at conferences globally and consults, describing her approach as ‘I like to blow shit up. I am the Michael Bay of business.’

            We cover the following in our conversation:

            • Cindy talks to us about what she's been up to since she was last on the show ie an update on MLNP and her journey as a female founder.
            • Sextech: the trillion dollar market opportunity 
            • Building a new market and new categories
            • The challenges in the industry
            • Raising $20m for MLNP
            • Female investors
            • Cindy's view on the overturning of Roe vs Wade (US) and where do we go from here?
            • ***

              39 min
            • #64: The Gray Rhino, the risk fingerprint and why women are good at taking risks with Michele Wucker

              Michele Wucker is a strategist, speaker, and best-selling author. She coined the term “gray rhino” as a call to take a fresh look at how we respond to obvious, probable, impactful risks. She founded the Chicago-based advisory firm Gray Rhino & Company and is a former media and think tank executive. 

              Her four books include the influential global bestseller THE GRAY RHINO: How to Recognize and Act on the Obvious Dangers We Ignore and the recently released sequel, YOU ARE WHAT YOU RISK: The New Art and Science of Navigating an Uncertain World.

              We cover the following in our conversation:

              • Risk: what is it and how do we perceive it differently based on our own risk fingerprint?
              • The gray rhino: how we can apply it to the global economy and the financial markets today?
              • How women and men think and act on risk?
              • Systemic risk and how women can protect themselves?
              • Women: their finances, investing and building their net worth: what are some of the key risks?
              • What are the gray rhinos the retail investor needs to watch out for?
              • ***

                48 min
              • #63: Inflation, stagflation and are we heading for a recession with Vicky Pryce

                Vicky Pryce is Chief Economic Adviser and a board member at the Centre for Economics and Business Research (CEBR). 

                She was previously Senior Managing Director at FTI Consulting, Director General for Economics at the Department for Business, Innovation and Skills (BIS) and Joint Head of the UK Government Economic Service. Before that she was Partner at the accounting and consulting firm KPMG after senior economic positions in banking and the oil sector. 

                She has held a number of academic posts and is a Fellow and Council member of the UK Academy of Social Sciences, a Fellow of the Society of Professional Economists and a Companion of the British Academy of Management. She was until recently on the Council of the Institute for Fiscal Studies and is a member of the Advisory Board of the central banking think-tank OMFIF and of the Economic Advisory Group of the British Chambers of Commerce. She is also a Patron of the charities Pro-Bono Economics and Working Chance. 

                Her books include: “Greekonomics: The Euro crisis and Why Politicians Don't Get It”; “It's the Economy, Stupid- Economics for Voters”, with Ross and Urwin; “Redesigning Manufacturing”, with Nielsen and Beverland”; and “Why Women Need Quotas”. 

                Her latest book, “Women vs Capitalism”, was published by Hurst in November 2019. She is a frequent contributor to media broadcasts and debates on the economy and on the economic rationale for gender equality. She is co-founder of GoodCorporation, a company set up to advise on corporate social responsibility, is a Freeman and Liveryman of the City of London, was the first female Master of the Worshipful Company of Management Consultants and has been sitting on the City’s Members Diversity Working Party.

                ***

                This interview was conducted on Tuesday, 7th June 2022. Since then, the BoE has increased interest rates again by 0.25% (to 1.25%) and the US Federal Reserve has increased their base rate by 0.75%, the sharpest rise in 28 years.

                We cover the following in our conversation:

                • The UK and global economy 
                • The surge in inflation-is it out of control?
                • Will monetary policy will be effective in controlling inflation?
                • Slower economic growth & stagflation
                • Are we headed for a UK and global recession?
                • ***

                  35 min
                • #62: Women's economic empowerment & financial inclusion with Mary Ellen Iskenderian

                  Mary Ellen Iskenderian is President and CEO of Women's World Banking, a global nonprofit devoted to giving more low-income women access to financial tools and resources they need for both security and prosperity.

                  Prior to Women’s World Banking, Mary Ellen worked for 17 years at the International Finance Corporation, the private sector arm of the World Bank. She had previously worked for the investment bank Lehman Brothers. Mary Ellen is a permanent member of the Council on Foreign Relations, as well as a member of the Women’s Forum of New York, and the UN’s Business and Sustainable Development Commission.

                  A 2017 Rockefeller Foundation Bellagio Center Fellow, Mary Ellen holds an MBA from the Yale School of Management and a Bachelor of Science in International Economics from Georgetown University’s School of Foreign Service. Most recently, she was recognized in the Forbes 50 over 50: Investment list, which highlights female investors and financial leaders. Her upcoming book, There’s Nothing Micro About a Billion Women: Making Finance Work for Women will be published by MIT Press in March 2022.

                  We cover the following in our conversation:

                  • Women's lived experience as it relates to money and power
                  • Why women's property rights and building women's wealth is important
                  • Financial inclusion, how big this opportunity is
                  • Mary Ellen talks to us about her new book
                  • And how banking institutions need to change in order to serve the female customer better.
                  • ***

                    50 min
                  • #61: Investing in emerging managers in venture with Sara Zulkosky

                    Sara Zulkosky is the Co-Founder and Managing Partner of Recast Capital, a 100% women-owned platform investing in and supporting emerging managers in venture, with a focus on diverse partnerships.


                    Sara previously served as a Venture Partner at Greenspring Associates (now StepStone Group), where she was responsible for sourcing and due diligence efforts across the platform, managing and supporting evaluation committees and existing investments, and leading the firm's impact investing initiative. Prior to joining Greenspring, Sara served as a Principal with CNF Investments, a private investment firm affiliated with Clark Enterprises, Inc., focusing on fund and direct venture capital and private equity opportunities in technology, life sciences and energy. Prior to that, Sara participated in Foundation Capital's Young Entrepreneurs Program, where she helped identify promising investment opportunities in the Washington, DC area. Sara was also the Director of Product Management for SkyBuilt Power, Inc., a venture-backed clean-tech company that provided rapidly-deployable renewable energy solutions to the U.S. Department of Defense, U.S. Intelligence Community, and telecommunications industry. She was with the business from its inception, also supporting it as a Project Engineer, Project Manager, and its Director of Engineering.

                    Sara received a M.B.A from Georgetown University, and a M.S. in Engineering Management and B.S. in Mechanical Engineering from The George Washington University. Sara is also a Kauffman Fellow.

                    We cover the following in the conversation:

                    • The emerging fund manager market
                    • Women-led funds: why are we starting to see a massive shift now?
                    • Recast Capital: investment thesis and key criteria used to invest
                    • Investing in top performing emerging fund managers
                    • How to diversify and manage risk across the portfolio
                    • Raising investment & engaging with female LPs
                    • Breaking into the VC industry
                    • 50 years from now: what will the VC industry looks like? And how will this impact the market?
                    • How do we encourage more female LPs to invest?
                    • ***

                      37 min
                    • #60 Gender lens investing and the gender lens scorecard with Marypat Smucker

                      Marypat Smucker is a Co-Founder and Principal at Parallelle Finance, a gender lens investment research firm founded in 2019. Prior to founding Parallelle, Marypat was a consultant in investment communications and editorial services for global asset management firms. She began her consultancy following a role as Managing Editor of Institutional Investment Communications at T. Rowe Price. Before that Marypat worked in transaction services for KPMG. 

                      She started her career in finance working as an analyst at Emerging Markets Partnership, a firm which managed the first emerging markets infrastructure private equity funds. Her focus there was on Asia. 

                      With an undergraduate degree in Chinese, during her early career she spent several stints living and working in China. She holds an MA in Economics from American University and an MS in Finance from George Washington University. 

                      She is a CFA charter holder. Through Parallelle Finance, Marypat has published numerous analyses on gender lens and ESG investing.

                      We cover the following in our conversation:

                      • Gender lens investing.
                      • The gender lens scorecard: what is it, why we need one and how investors might use this tool, including VCs. 
                      • What funds and corporates need to do to close the gender equality and equity gap.
                      • ***

                        35 min

                      About The Purse Podcast

                      From the publisher's feed

                      At The Purse: Women and Capital, we explore how women are transforming the architecture of finance. From angel investors to institutional leaders, from fintech founders to capital allocators, this is…

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