In January 2023, Cake Ventures announced a $17 million fund specifically focused on the demographic changes that are influencing technology.
Its Founder and Managing Director, Monique Woodard has made a significant impact in the tech industry. A political science major from the University of Miami, She relocated to San Francisco in 2008. Monique fully immersed herself in the Silicon Valley startup culture. Over a 15 year grind, she wore many hats as an entrepreneur, ecosystem builder, operator, and investor, gaining invaluable experience along the way.
In describing the experience of raising a fund as a Black woman, Monique Woodard expressed it as "like crawling through glass with no clothes on, and then having fire ants poured all over you."
Monique Woodard's investment philosophy is driven by her belief in the future of technology, which she sees being shaped by major demographic changes. She actively seeks out companies with global ambitions that are developing technology products to meet the evolving needs of tomorrow's internet users.
Her investment focus centers around three key pillars: 1. The increasing spending power of women, the influence they hold in various aspects of online connectivity, shopping, and access to products and services for themselves and their families; 2. The significant demographic shift with the aging population, where Americans over 65 are projected to outnumber those under 18 by 2034; 3. The rise of a new majority, characterized by the rapid growth and economic potential of Asian, Black, and Latino communities, making them the fastest-growing and most lucrative consumer groups in the U.S.
Cake Ventures focuses on minorities ignored by Silicon Valley. This is why Monique is committed to increasing the number of successful Black entrepreneurs in tech, not only in Silicon Valley but Nationwide. She firmly believes that Black and People of color will continue to shape and influence internet culture for years to come.
HELLA INSPIRED.
