>>> IT MAY SHOCK YOU TO HEAR
THAT UNTIL 1988 WOMEN WHO WANTED
A BUSINESS LOAN FROM A BANK IN
THE UNITED STATES NEEDED A
CO-SIGNATURE FROM A MAN.
THE LENDSER WOULD GIVE YOU THE
MONEY JUST AS LONG AS YOUR
HUSBAND SIGNED FOR IT.
THE WOMEN'S BUSINESS OWNERSHIP
ACT OF 1988, OFFICIALLY H.R.
5050, FINALLY CHANGED.
THAT WE'VE COME A LONG WAY IN
THE LAST 30 YEARS, BUT BIG
OBSTACLES REMAIN FOR FEMALE
FOUNDER.
PRIVATE INVESTORS OR VENTURE
CAPITALISTS GIVE BILLIONS OF
DOLLARS TO ENTREPRENEURS EVERY
YEAR.
ONLY A SMALL FRACTION OF THAT
MONEY GOES TO WOMEN.
DASHA BURNS OF OUR STREAMING
SERVICE, NBC NEWS NOW, IS BACK
WITH OUR "SUNDAY SPOTLIGHT."
>> CAN I SEE THE NEW ROLLER
BALL?
>> Reporter: TONY IS A VENTURE
CAPITALIST.
HIS FIRM CUE BALL GOT AN
UNINTENTIONAL START.
>> I THINK WE'RE THE ONLY ONE
THAT STARTED AS A SALON.
>> Reporter: MINI LUCK OR
DESCRIBED AS BEAUTY WITH A CLEAN
CONSCIOUS, DESIGNED TO IMPROVE
THE EXPERIENCE FOR THE CUSTOMER
AND EMPLOYEES.
DID YOU GET A LITTLE SIDE EYE
FROM FOLKS IN THE VENTURE
CAPITAL COMMUNITY WHEN YOU FIRST
STARTED TALKING ABOUT THIS?
>> YEAH.
I THINK ONE OF THE ASSUMPTIONS
NOT JUST WITH THE NAIL SALON BUT
MANY WOMEN-FOCUSED VENTURES IS
THAT YOU'RE DOING IT FOR
NONBUSINESS REASONS.
AND ONE OF THE FIRST COMMENTS I
HAD THAT WAS REALLY FRUSTRATING
WAS, OH, TONY, ARE YOU GOING
INTO PHILANTHROPY NOW?
>> Reporter: THAT REACTION IS
NOT A COMPLETE SURPRISE IN THE
VENTURE CAPITAL WORLD.
AN INDUSTRY THAT'S MORE THAN 90
PERCENT MALE.
IT IS A BIG PROBLEM FOR FEMALE
ENTREPRENEURS.
VC FUNDING IS A GO-TO RESOURCE
FOR NEW COMPANIES.
LAST YEAR THE INDUSTRY INVESTED
OVER $130 BILLION IN U.S.-BASED
STARTUPS, YET ONLY ABOUT 2% WENT
TO FEMALE FOUNDERS.
IT'S NOT JUST BUSINESSES FOUNDED
BY WOMEN THAT GET THE BRUSHOFF,
MANY INVESTORS DON'T UNDERSTAND
BUSINESSES GEARED TOWARD WOMEN.
>> ONE OF THE BOARD MEMBERS AT
ONE POINT IN THE MEETING SAID,
NO, REMIND ME, WHICH IS THE
MANI, WHICH IS THE PEDI?
>> GOT TO GET THAT STRAIGHTENED
OUT.
>> Reporter: ANY OTHER PRODUCT
YOU WOULD DO YOUR DUE DILIGENCE.
ZOE IS THE CEO OF MINI LUCK.
SHE BEEN IN BUSINESS FOR
DECADES.
WHEN PEOPLE OVERLOOK THE FEMALE
MARKET, THEY MISSING A BIG
OPPORTUNITY FOR PROFIT?
>> ABSOLUTELY.
AND I ACTUALLY SEE WOMEN --
THINK WOMEN TEND TO THROW MORE
AT THAN MEN.
WOMEN HAVE BEEN SPENDING THE
MONEY FOREVER.
THEY SPEND IT FOR MEN, THEY
SPEND IT FOR THEIR KIDS.
>> Reporter: DESPITE THAT,
GETTING INVESTORS ON BOARD FOR A
COMPANY BY WOMEN FOR WOMEN IS
NOT UZSE -- NOT EASY.
THE SKIM IS A CAR TARGETED
TOWARD IMPEACH.
W
-- TOWARD WOMEN.
HOW HARD WAS IT?
>> WE COULDN'T HAVE A BUSINESS
CONVERSATION BECAUSE IT WAS
DEFERRED TO IT'S NOT FOR ME, I
GOT TO ASK THE WIFE.
>> AND YOU WOULD SEE THAT THIS
IS GLROWING WITHOUT REAL FUND
BEHIND IT.
THE NUMBER ONE THING WE WOULD
HEAR IS THAT WOMEN ARE A
ENDANGERED SA NICHE
MARKET.
>> THEY HAVE MORE THAN SEVEN
MILLION SUBSCRIBERS, A CALENDAR
APP AND PODCAST.
DO YOU THINK THAT 2% NUMBER CAN
AND WILL MOVE?
>> I THINK THAT IT'S BEEN
AMAZING GOING TO EVENTS WHERE WE
REALLY WOULD BE TWO -- TWO OF
THE ONLY WOMEN IN THE ROOM TO
NOW GOING TO EVENTS WHERE THERE
IS A NETWORK OF WOMEN WHO ARE
ALL GETTING COMPANIES OFF THE
GROUND.
>> Reporter: THERE ARE SIGNS OF
A CHANGING TIDE.
WITH MORE FEMALE-FOCUSED
STARTUPS EVERY YEAR.
MEANWHILE, MINI LUXE HAS 25
SALONS ACROSS FOUR STATES, AND
THEY'RE TRYING TO CHANGE AN
INDUSTRY.
>> CURRENTLY IT IS A $10 BILLION
BUSINESS, AND IT'S A BUSINESS
THAT HASN'T BEEN RUN AS WELL IN
MY OPINION AS IT COULD BE FOR A
LONG TIME.
>> Reporter: TONI CAUGHT ON TO
THAT EARLY.
>> IN OUR FUND, WE'RE ABOUT 50%
OF OUR DOLLARS HAVE GONE TO
WOMEN-CENTRIC BUSINESSES, I
THINK THERE'S A BROADER
OPPORTUNITY, MORE INCLUSIONARY,
AND YOU WILL FIND MANY, MANY
GREAT INVESTMENTS WHEN YOU DO
THAT.
>> Reporter: AND THAT'S JUST
GOOD BUSINESS.
>> DASHA BURNS IS SO GOOD.
SHE CAN DO A GREAT INTERVIEW
WHILE GETTING HER CUTICLES
WORKED ON.
>> ONE OF THE MOST LUXURIOUS
INTERVIEWS.
>> A LOT OF CAPITAL FIRMS, LET'S
SERVICE, INVESTING IN WOMEN.
WHAT'S BEING DONE?
HOW DO WE GET THE NUMBER FROM 2%
TO 50%?
>> THERE ARE A GROWING NUMBER OF
VENTURE AFFIRMATIVE RUN BY
WOMEN, A BIG STEP.
IT'S STILL A MALE-DOMINATED
INDUSTRY.
THE INVESTORS ARE LEAVING SO
MUCH OPPORTUNITY ON THE TABLE.
TONY FROM THE PIECE HAS ADVICE.
HE SAID, GO BACK TO THE BASICS.
IF YOU'RE NOT THE TARGET
AUDIENCE FOR A MANICURE, VENTURE
CAPITALISTS SPEND A LOT OF MONEY
ON THINGS THAT AREN'T
NECESSARILY MEANT FOR THEM.
LOOK AT IT THE WAY YOU WOULD
LOOK AT ANY INVESTMENT, LOOK AT
THE BUSINESS MODEL