Mompreneurs: Venture Capitalists Erica Duignan & Monique Idlett
Mompreneurs: Redefining Venture Capital With Erica Duignan & Monique Idlett
Erica Duignan and Monique Idlett are redefining venture capital by doing it their way. Through their firm, Reign Ventures, they back early-stage founders—innovators and disruptors with bold ideas—and help them grow from startup to standout.
Both mothers of three, Duignan and Idlett bring a different approach to venture capital—one that’s personal, strategic and intentional. As one of few VC firms led by Black women, Reign Ventures defies convention. “We take a more hands-on boutique approach, and it works for us,” said Idlett.
They sat down with host Nancy Redd for this week’s episode of Mompreneurs to share how their approach is working—and the lasting impact they hope to make through venture capital.
‘A very different approach to venture’
Reign Ventures is an early-stage investment fund co-founded by Duignan and Idlett in 2017, with a portfolio that includes Ryze Superfoods, SoLo Funds, and Monica + Andy. The innovative firm lives at the intersection of culture and technology, embracing what Idlett describes as “a very different approach to venture.”
They back innovators and disruptors—passionate founders who value community and move with integrity. “We like to talk about investing in technology companies that are at the nexus of culture and community,” said Duignan.
Another key trait they consider, Idlett added, is how founders carry themselves through the inevitable hurdles of entrepreneurship. “Can they build something regardless of the obstacles?”
Reign Ventures embraces a different approach outside of traditional venture capital
As two women of color blazing their own trail in venture capital, Duignan and Idlett are uncovering potential where others aren’t looking—finding gems in founders often overlooked by traditional VC.
They’re creating opportunities for untapped talent to thrive. Not just because it’s the right thing to do—it’s proven to be a successful strategy. “If you take all the funds that closed in 2021, our returns are in the top 5%, which is really outstanding,” said Duignan.
Duignan and Idlett bring something to the table that traditional VC firms can’t. “There are very few Black-owned VC firms in this country,” Duignan noted.
As Black women in a predominantly white, male-dominated space, they have a unique advantage when it comes to supporting women and founders of color seeking venture partnerships. “There are a lot of female founders and founders of color out there, but very few female investors and investors of color,” Duignan said.
Trust is a “huge element” in investing, and Reign Ventures’ principled approach is a major draw for underrepresented founders. Combined with their industry expertise and lived experiences as mothers and women of color, it’s easy to see why it’s “much more attractive to work with people who understand where you’re coming from and who support you,” Duignan explained.
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‘An extension of who we are as women and mothers’
Duignan and Idlett’s role as investors goes beyond funding—they actively guide founders in making key decisions, from hiring to pricing, sharing their expertise and knowledge to help founders bring their vision to life.
This approach requires a certain “emotional IQ” that goes hand in hand with what they do as mothers, Idlett explained. “We both have three children, (and) they’re all different, so we have to parent them differently. Every company is different, every founding team is different, what they need is different, and we have to approach it in that way. So I see it as an extension of who we are as women and mothers.”
As innovative Black women in venture capital, Duignan and Idlett are making their mark on the industry
Beyond guiding startups from seed to public offering, Reign Ventures is reshaping the way business is done by doing it their way.
“Showing up as our authentic selves and staying true to that is why (our partnership) works so well,” said Idlett. “We’re two women who have the audacity to do something—with integrity, to treat people fairly, and…change the way people look at venture capital,” said Idlett. “The purity of the heart is there, and I think with that comes all of the wins.”
Duignan added, “We’re making a small impact on a big world, but when we think about the lack of empathy and sometimes psychopathy of folks who are running a lot of the largest corporations in America, having people who are helping birth new companies with management teams that have integrity, that care about community, that care about their employees—I think that is a multiplier on the impact of the work that we do, and we’re grateful for those founders.”
Don’t miss out on the full conversation. Watch or listen to this episode of Mompreneurs above.
Catch new episodes of ‘Mompreneurs’ every week
Every week, we celebrate beautiful Black entrepreneurs who are simultaneously amazing business moguls and awesome moms. Join host and New York Times bestselling author, Nancy Redd, as these mompreneurs share their life stories and inspiring advice. Catch new episodes of Mompreneurs every Monday on MadameNoire’s YouTube channel. Or listen to the podcast online on the Urban One Podcast Network.
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