Founders First Capital Partners focuses on helping small businesses led by diverse and disadvantaged business owners located in low to moderate income areas less connected to the traditional funding networks of Silicon Valley and New York City
Like most diverse founders, she bootstrapped the enterprise with her own money, along with the few friends and family that had invested in her previous endeavors. So she spent most of her time educating potential funders to the opportunity. Even with the exponential increase in impact investment spurred on by the Black Lives Matter movement, many of the traditional institutional investors like pension funds and insurance companies were hesitant. So she turned to foundations.
“When I started Founders First, there was a gap in the market and realized that I, with my six companies, did some things that other diverse founders, founders of color had not done. With my six companies, I raised institutional capital several times. I had several exits as part of that and wanted to be able to provide that experience to others. And I did this not being in a major city. If I were in the Bay Area or New York, it would've been a different outcome.
“I was really blessed by my parents. While we may not have had a lot, they helped plant really great seeds around what's possible. My introduction to entrepreneurship was in elementary school and my Dad wanted to start his own business,” says Folsom. She counts working in the cafeteria at her school in fifth grade and being a Girl Scout as early influences.
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