FirstGen: A Complex Relationship to Money
Our historical relationship to money has huge implications on how we think about financial risk-taking and decision-making. These mindsets, cultural norms and lived experiences have big impact on decision making for founders.
Join us as we dive into how first generation and immigrant founders think about money - the mindsets, beliefs and constructs that shape decision-making.
Money and our relationship to it influences so much of how we make business decisions. Growing up with less means, often entails that first generation and immigrant founders have a more complex relationship to money than most entrepreneurs.
The lived experiences and cultural norms can lead to a number of limiting beliefs or scarcity mindsets that have significant consequences on the decisions founders make and also the emotional burdens they carry.
First generation and immigrant founders are often less comfortable taking risks, selling ahead of where they are; they struggle to price their products and services appropriately, and often pay themselves too little.
This event will be an intentional dive into how first generation and immigrant founders think about money - the mindsets, beliefs and constructs that shape decision-making. Through these conversations we hope to begin to shift the scarcity mindset towards an abundance mindset to make better decisions as founders. We'll also look to explore how a scarcity mindset can actually be a competitive advantage for more sustainable growth when applied in proper ways.
Structure:
30 minute panel discussion followed by breakout groups with facilitated conversation.
Who should attend:
Any first generation or immigrant founder who is struggling or re-thinking their position on ...
Their relationships to money
Scarcity vs. abundance mindset
Selling ahead of where they are
Investing in expensive talent
Pricing their products & services
Investing in big R&D in the company
Paying themselves
Who will be joining us:
Ray Fu - Ray is the Co-Founder and CEO of Nickel, a fintech startup powering payments and compliance in the built world. Prior to founding Nickel, Ray helped launch StanleyBlack&Decker's construction tech unit and built digital products for F500 banks and insurers. Ray moved to the US from China when he was 8 and grew up on medicaid and low-income housing. His experiences as a first generation immigrant and living on the edge of poverty had shaped his relationship with risk and money. But it also taught him valuable lessons in resilience, optimism and what it means to be successful.
David Tswamuno - David is the Founder and Managing Partner of Fairbridge, an early-stage venture capital firm focused on companies tackling progress gaps in the foundational areas of Health, Wealth and the Planet. Prior to founding Fairbridge, David spent a decade at Emil Capital investing in sustainability and wellness startups. David’s passion to invest in society’s progress gaps is inspired by his challenging upbringing in Zimbabwe where he learned the values of service, diligence, and risk-taking to find economic success. David strives to promote these values in all aspects of his work and life, especially among immigrant and first generation entrepreneurs with whom he shares similar backgrounds.
Lei Bely-Cheng - Lei is a wealth advisor, immigrant, and mission-driven capitalist with a passion for financial empowerment, particularly for women and minorities. She is dedicated to changing how immigrants view, think, and talk about money. Growing up in a small town in China, Lei was profoundly influenced by her illiterate grandmother, who built a business empire through sheer grit, and her mother, who never takes no for an answer. Now a mom of two, Lei lives in New Jersey with her husband, a fellow immigrant who shares her vision of the American dream.
The panel’s opinion does not necessarily reflect the views of his/her employer.
Evelysse Vargas - Evelysse is a Partner at BEA Venture Fund, a venture fund focused on narrowing the United States' wealth gap and economic gap. Born in The South Bronx to two immigrants from The Dominican Republic, her upbringing in the poorest congressional district in the country has fueled her passion for economic equity and financial literacy. Her experiences as a first-generation American have deeply influenced her commitment to creating opportunities for underserved communities and addressing systemic economic disparities. Evelysse's journey from the South Bronx to her current role at BEA Venture Fund underscores her dedication to fostering economic empowerment and bridging financial divides.
About FirstGen: FirstGen is an organization that supports immigrant and first generation founders. Our goal is to help founders raise their first $1m in funding and get to $1m in revenue. We do so by supporting founders through capability-building, capital & customer support and community.
Our space sponsor:
A big thank you to Free Agency for offering their space for us to host this event.
Free Agency is a game-changer for top and emerging talent in tech, providing professionals with Hollywood-style representation for the first time ever. Put simply, they manage “the business end” of their clients' careers, helping them find, win, and succeed at top-of-market roles. Freeagency.com
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