A report by the Cap finds that members of the LGBTQ+ community are prioritising inclusivity when choosing where to work, with 36% of LGBTQ+ and 65% of transgender respondents stating they choose a workplace where they believe they will avoid discrimination. This issue is exacerbated amongst LGBTQ+ founders, with a separatereport from Proud Ventures revealing that three-quarters of LGBTQ+ founders withhold their identity from investors. In light of this, Reece Tomlinson, CEO and founder of the UK’s first trans-led impact capital firm, Saône Capital, discusses bridging the gap between investors and underrepresented founders.

According to a study from Deloitte and Workplace Pride – an LGBT+ advocacy group – 37% of employees said they did not disclose their sexuality or gender identity to any of their colleagues, while 57% said they didn’t feel comfortable sharing this information with their superior. For LGBTQ+ founders looking to source funding, it’s clear that a majority still see their identity as a hindrance, with research from Proud Ventures finding that 1-in-3 (34%) LGBTQ+ founders admit they would never share their identity with an investor, while an alarming 35% believe their ability to raise capital had been impacted by their identity.

Tomlinson launched Saône with a clear intention to create an equal platform that allows underrepresented founders and businesses with an authentic social impact, the opportunity to scale with zero boundaries. Tomlinson notes her personal experience throughout her transition as one of the key motivations for establishing an impact-driven business.

Reece Tomlinson, CEO and founder of Saône Capital, comments:

“Trans people continue to face barriers. If you look at the financial world, it is still predominantly white male, and full of older white males. So, for trans women coming up, it’s scary and a lot of people think it is out of reach… I think minorities, women and trans people certainly have challenges within the finance world because they are generally not well represented at the top.

“The idea of coming out of trans was terrifying, I thought it would be career suicide. I assumed it would blow up my career. But once I started leaning into my truth, I realised I had no other option. It was terrifying to do it first, but it was also terrifying in many small ways, like going to my first big meeting or walking into a room for the first time and going through a client’s office. It was all just new and scary.”

“During my career, I had my own things to deal with obviously being trans. And as I stepped into my truth it dawned on me that I wanted to do something that was positive, rather than just making founder and leadership teams more money. We’re looking to back businesses that can make an impact while also making a lot of money and I don’t think the two are mutually exclusive.”

“One of the things I really started to do was to embrace giving people the realisation that they can achieve it too, whether that’s being trans or whatever they have going on, they can be truthful to who they are. For me, there weren’t very many people that I saw in the community that I could look up to as role models. I want to provide some level of motivation and inspiration to people. Our goal is to help companies that are positively impacting the planet and those that are coming from underrepresented founder”.