Erin Foster and Sara Foster, sisters, entrepreneurs, and co-founders of the popular clothing line Favorite Daughter, are seeking to invest in consumer brand through Oversubscribed Ventures. Phil Schwarz, partner of Corazon Capital and longtime associate of the Foster family, is accompanying the Fosters on this venture as a general partner. Together, their goal is to invest in early-stage consumer technology and the tech that supports these brands, and they have recently announced plans to raise a $20 million fund which is yet to close.
The entrepreneurial instinct of Erin and Sara began five years ago when the two led creative for Bumble Bizz and Bumble BFF, and has developed since. They have since embarked on a mission to find the perfect companies to invest in and continuously grow their financial portfolio. When asked why they should be chosen as potential investors, they refer back to their solid track record and understanding of what women want and need.
The Fosters are drawn to technology that has the potential to enhance an existing industry. For example, they have invested in 10Beauty, a robotic manicure brand that mixes hardware and software. This technology could enhance the current nail care industry and makes it more accessible and safe for its users. Similarly, they are heavily invested in Bach, a software platform that strives to own the bachelorette party space. It is clear that the duo recognize and invest in the type of technology that resonates with people and make sense in today’s market.
In a time when there are not many female venture capitalists, Erin and Sara Foster have made waves in a predominately male-led industry. They understand the value of the relationships held with their portfolio companies, and the importance of being knowledgeable and on the same page as their entrepreneurs. They strive to be more than just a source of monetary support, but also continued source of guidance and well-rounded assistance while their entrepreneurs grow. In consequence, they hold a unique edge in the venture capitalist industry as they are able to aid their entrepreneurs in both the technical and creative realms.
Today, Erin Foster and Sara Foster of Oversubscribed Ventures embody the perfect example of what entrepreneurship looks like in 2020. With their knack in recognizing the potential of an investment, their knowledge of the female perspective, and their unwavering support of the up-and-coming entrepreneurs, the Foster sisters have a bright future in the venture capitalist industry.