GM from Girl Math ☕ (Sept ‘25)
Note from the Founders 👋
The Girl Math of Alternatives: What They Are and Where to Start 💭
Deal Spotlight: Stakt 💪
Investor Resource: Questions to Ask a Pre-Revenue Company ✏️
Note from the Founders 👋
Good morning (or GM ☕ as the kids say) from Serena, Porter, and Emma, the co-founders of Girl Math Capital! This is our very first newsletter, and we’re thrilled to launch it as a way to share the lessons we’ve learned building Girl Math with a broader audience. Our mission has always been to bring alternative investing education and deal flow to more women, and this newsletter is one more way we’ll continue to build on that mission.
Each month, you’ll hear from us on trends in alternatives, insights from our community, and updates on what we’re building. For those who are new here, Girl Math Capital is a membership community of 200+ women learning about and investing in alternative assets together. We hope that this newsletter gives you a sneak peak into the amazing insights shared in our community every day and gets you excited to put your money to work. Happy reading!
The Girl Math of Alternatives: What They Are and Where to Start 💭
We’re excited to kick off our new series, The Girl Math of Alternatives, where we’ll be highlighting trends we’re seeing in the alternative investing space and making them actionable, accessible, and relevant to you. In future newsletters, expect us to cover topics like why more founders are raising from angels instead of VCs, why secondaries are having a moment, and even why we think buying crypto is a feminist act. Before we get into the specifics, we’re starting with the basics: what are alternatives, and how can you start investing in them?
Read time: 4 minutes
Alternative investments are the foundation of Girl Math Capital. We exist to give women more access to the kinds of opportunities that, for too long, have been reserved for a select few. Before we dive into the how, let’s start with the what: what are alternatives, and why should you care?
Alternative assets are simply investments that live outside the public stock and bond markets. If that sounds vague, it’s because it is - “alts” is a catch-all term that covers everything from hedge funds and venture capital to private debt, real estate, commodities, and even collectibles like fine art and luxury goods (hello, Birkins!).
Put simply: if your 401(k) or brokerage account doesn’t touch it, it probably falls under the umbrella of alternatives.
So why do we care so much about them at Girl Math? Historically, alternatives have proven to be the true engine behind wealth creation. In exchange for higher risk, they offer the potential for outsized returns. Public markets are designed to deliver steady compounding over time, but many of the greatest wealth-building stories, whether it’s Peter Thiel turning a $2,000 Roth IRA investment in PayPal into billions, Oprah building a fortune through savvy real estate plays, or George Soros making his mark in hedge funds, trace back not to index funds, but to alternatives.
However, if you’re not familiar with or don't have regular exposure to alternative assets opportunities, you’re not alone. Access is the biggest hurdle. Most alternatives are gated, either by high capital requirements, accreditation rules, or the simple fact that they’re kept within closed networks. Enter Girl Math Capital: opening doors to make sure women are not just participating, but leading in the wealth-building opportunities that matter most.
At Girl Math Capital, our curriculum currently focuses on angel investing, real estate and crypto. While we’re always exploring new opportunities, we more heavily focus on these three to start because of their combined accessibility (lower minimums compared to private equity funds for instance). Let’s break down each of them and how you can get started on your own:
Angel investing
Angel investing is a type of alternative investing where you provide capital to private companies, typically at the earliest stages, in exchange for equity in the company. Angel investing is similar to venture capital but is done at the individual level, rather than through a fund. At the bottom of our website, you can see examples a few examples of companies Girl Math members have invested in, including Vacation, Girl Beer, and Halfdays.
Finding strong angel investing opportunities often comes down to access to high quality deal flow. At Girl Math, we take a shared-access approach - when one member has access, the entire community benefits. Beyond our network, there are also a few platforms that can curate opportunities based on your accreditation status. For accredited investors, Play Money makes it easy to build your startup portfolio. If you’re not yet accredited, companies like WeFunder or communities like Sengo provide compliant ways to invest in startups.
Real estate
Real estate investing has always been a cornerstone of wealth-building, but investing in real estate today goes beyond just owning residential or commercial properties directly! Now, you can also gain exposure to real estate through Real Estate Investment Trusts (REITs), fractional ownership + property flipping groups, or through new platforms, each with a specific value proposition, like the ones below:
Fundrise → A popular real estate investment trust (REIT) platform that allows non-accredited investors to invest in diversified real estate portfolios starting at just $10.
Pacaso → A luxury vacation home co-ownership platform that allows multiple buyers to purchase and share ownership of high-end second homes in desirable destinations.
Kocomo → A fractional ownership platform for vacation rentals that enables investors to buy shares in short-term rental properties and earn passive income from bookings.
While buying property on your own can be capital intensive, more affordable options to gain exposure to the real estate market continue to emerge. We’re excited to continually highlight platforms that make it easier to gain exposure to an asset class that historically has been out of reach for individual investors.
Crypto
The crypto ecosystem and cryptocurrencies broadly may feel like unchartered territory at times, but the reality is that we’ve started to see regulation and policies introduced alongside increasing institutional adoption. If you’re looking for ways to invest in crypto, it doesn’t have to always be just buying tokens like Bitcoin (BTC) or Ethereum (ETH) directly.
Many major asset managers offer BTC or ETH ETFs that you can purchase directly in your brokerage account. Additionally, crypto companies like Coinbase, Circle, and soon to be Kraken are public in the US, meaning you can buy shares of their stock as a potentially safer bet on crypto as an asset class.
Just like any investment, crypto is complicated, and we highly encourage doing your own research. Communities like SheFi are a great place to start if you’re looking to specifically hone in on your crypto investing strategy.
📌 The Takeaway:
Alternatives have always been where big wealth gets built, but they’ve historically been hard to access. Platforms and communities are lowering the barriers, and at Girl Math, we’re bullish on three of the most accessible (and powerful) categories: angel investing, real estate, and crypto.
Deal Spotlight: Stakt 💪
Each month, we’ll share a few of the deals our community has backed, not to give investment advice, but to show you the breadth of opportunities Girl Math members are exploring and spotlight some epic founders.
Stakt is a wellness brand that’s grown well beyond its OG foldable fitness mat into weights, community activations, retail partnerships, and buzzy brand collaborations. Girl Math member Carly Sandler first discovered Stakt as a consumer, and that admiration grew into an investor and strategic advisor role.
Carly shares, “Stakt had already positioned itself at the intersection of community and innovation with their core product lines, strategic partnerships, and organic social. On top of that, their growth projections were rooted in highly conservative, diligent, and transparent financials.”
Meeting co-founders Taylor Borenstein and Millie Blumka sealed the deal, and Carly joined as both an investor and advisor, bringing her consumer and community expertise.
Investor Resource ✏️
Questions to Ask a Pre-Revenue Company
from Girl Math speaker Caroline Elliott
When a company hasn’t generated revenue, evaluating its potential can feel even more daunting. Financial and growth statistics typically aren’t available, so qualitative diligence becomes even more important. Below are some samples of how to think about a pre-revenue company from our latest “Introduction to Investment Diligence” session with Caroline Elliott that you can use to help guide your analysis.
Why now?
Is there a large enough Total Addressable Market (TAM)?
What is the founder’s background?
Is there a recognizable brand?
Is there something unique about this product? Is it defensible?
For more tips like this, consider joining our next cohort!
Closing Note 💌
Girl Math Capital was born from the frustration that deals were shared in some circles and not in others. This newsletter is one more way to make sure those conversations and opportunities reach more women. If you know someone who’d love this newsletter, pass it along. We believe alternative investing isn’t just for finance and tech bros - it’s for women who want to get smart, build community, and build generational wealth. See you next month 💸💅
The Girl Math Team
If this got you curious, submit your information to join our next cohort, or apply to be a community member here.
Have a topic you’d like to see us cover in the future? Reply to this email or drop a comment below.
