Elizabeth Galbut, 28
Managing Partner, SoGal Ventures
When she was just 26, Elizabeth Galbut started her first venture capital firm, which she did despite not fitting the typical “middle-aged white man VC ideal.” Moving forward with a “bullish” focus on diversity, Galbut is now Managing Partner of female-focused venture capital firm, SoGal Ventures. “Women are one of the few remaining investment arbitrage opportunities,” says Galbut, who has helped fund more than 45 innovative startups to date. “We are already on the path to be prolific investors of our generation.”
1. What made you choose this career path? What has been your greatest achievement?
While I was in graduate school my father was diagnosed with cancer. In parallel, I was working with a student entrepreneur who was starting Proscia, a digital pathology company. After seeing how difficult it was for the startup to raise capital in Baltimore, and knowing how this technology could revolutionize an industry, I knew that if no one else would invest, then I had to figure out how I could invest myself. This led me to start my first venture capital firm, A-Level Capital.
2. What’s the biggest criticism/stereotype/judgement you’ve faced in your career?
I was told women's opinions don't matter and aren't respected in venture capital. I started my first venture capital firm when I was 26. Many doubted my ability to be a venture capital investor since I didn't graduate an Ivy League school, had no direct investing experience, hadn't built a multi-million dollar company previously, and didn't fit the typical VC profile of a middle-aged white man. Many thought what I was doing was stupid and would fail. Others told me I had no right to be an investor. Even when I had invested in over 30 companies alongside top brand name VC firms, men would classify what I was building as "cute".
Beyond doubts and criticism, I run up against consistent gender bias almost daily. The most vile and unacceptable behavior is the sexual harassment and abuse of power in the industry. I've been asked by a potential investor for sexual acts in exchange for investment. This is not ok.
3. How did you #SWAAYthenarrative? What was the reaction by those who told you you “couldn’t” do it?
I am bullish on investing in diversity. So far, our funds have invested in 45 startups that are revolutionizing how the next generation lives, works, and stays healthy. Being able to support so many diverse founders who are each positively impacting our world, is something I'm incredibly proud of. Women are one of the few remaining investment arbitrage opportunities. By investing with this thesis, we are already on the path to be prolific investors of our generation.
4. What did you learn through your personal journey?
Investing in yourself is one of the best investments you can make, as it's one of the only investments you can truly control. Finding the strength within and confidence to pursue my own path was key to overcoming the negativity and doubts of others. It's quite simple-if anyone says you can't do something, they're really just saying that they can't.
5. What’s your number one piece of advice to women discouraged by preconceived notions and society’s limitations?
Be the change you wish to see in the world. If you keep working at your dreams relentlessly and show up each day, the forward momentum you'll build will be unstoppable.
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Help! My Friend Is a No Show
Dear Armchair Psychologist,
I have a friend who doesn't reply to my messages about meeting for dinner, etc. Although, last week I ran into her at a local restaurant of mine, it has always been awkward to be friends with her. Should I continue our friendship or discontinue it? We've been friends for a total four years and nothing has changed. I don't feel as comfortable with her as my other close friends, and I don't think I'll ever be able to reach that comfort zone in pure friendship.
Dear Sadsies,I am sorry to hear you've been neglected by your friend. You may already have the answer to your question, since you're evaluating the non-existing bond between yourself and your friend. However, I'll gladly affirm to you that a friendship that isn't reciprocated is not a good friendship.
I have had a similar situation with a friend whom I'd grown up with but who was also consistently a very negative person, a true Debby Downer. One day, I just had enough of her criticism and vitriol. I stopped making excuses for her and dumped her. It was a great decision and I haven't looked back. With that in mind, it could be possible that something has changed in your friend's life, but it's insignificant if she isn't responding to you. It's time to dump her and spend your energy where it's appreciated. Don't dwell on this friend. History is not enough to create a lasting bond, it only means just that—you and your friend have history—so let her be history!
- The Armchair Psychologist