Sugar Cosmetics CEO Vineeta Singh is one of the country’s top women entrepreneurs. She became a household name through her appearance in the Sony TV show Shark Tank India. Being a woman entrepreneur, Vineeta has become an inspiration to many individuals. But her journey was not easy.
Recently to a media portal, Vineeta shared an incident where a venture capitalist (VC) told her that she would get funding only if her husband put in equal time in the company.
She said that it did not hamper her confidence as people rarely make sexist comments these days. They really watch out before saying anything. Sexist remarks are called out in the last 5-6 years.
Vineeta said that the conversation with the VC was about 10 years ago. Sexist comments or comments did not hurt people at that time. When you are struggling, either if you hear something like this you can back off or make an opportunity out of it. Without an option to back out, you’re usually stuck with what you get.
She added that nowadays 2% of capital goes to women-run companies compared to 0% 10 years ago. If there is a male and female co-founder, the capital is 10-12% which is still very low. On the other hand, 85-90% of capital goes to single male founders, two or three male founders.
Lastly, she said that the problem is in venture capital firms. The decision-makers are male with 1-2% females. She feels there is a long way to go where 10-15% capital will be given fully to women-run companies which will be quite an improvement.