Monique Woodard — Cake Ventures
“I believe that the future is really about this intersection of technology and demographic shifts, because demographic shifts reflect changes to the internet user base.”
Connect with Monique
linkedin.com/in/moniquewoodard/
VC Uncovered’s View
Monique Woodard is an investor who sees the world through a wide-angle lens. While much of the industry is busy pattern-matching the past, Monique and her firm, Cake Ventures, are underwriting the future. She is a prime example of the independent, forward-thinking investors we celebrate at VC Uncovered, approaching venture capital with the technical precision of a researcher and the lived experience of a two-time founder.
The math behind her thesis is undeniable. We are currently witnessing a "three-layer cake" of massive demographic shifts: a global population aging at an unprecedented rate, a $30 trillion wealth transfer to women over the next decade, and a shift toward a much more diverse population, with Gen Alpha already leading that charge. Cake Ventures targets these shifts at the pre-seed and seed stages, focusing on the forward momentum of these groups rather than relying on what the internet user base looked like a decade ago.
Ultimately, Monique’s work is about measurably improving the global quality of life by investing in technology that meets human behavior where it is going. Whether she is backing "silver economy" solutions or tools for the deskless workforce, she is proving that the internet’s user base has outpaced the industry’s imagination. Her approach reminds us that the most significant value is created when we stop "artificial gating" and start building for the massive, universal markets of tomorrow.Meet Monique
Q: You can be anywhere. Eating, drinking, and reading your favorite thing. Paint the Picture:
A: My happy place involves a mix of art, nature, and community. I find joy in looking at amazing pieces of art, specifically the work of artist Scherezade Garcia, and enjoy riding horses followed by sharing a glass of Pinot with my friends.
Key Quotes
“I believe that the future is really about this intersection of technology and demographic shifts, because demographic shifts reflect changes to the internet user base.”
“We’re investing where we’re going, not where we came from.”
“I wish there were more independent thought in a lot of the [VC] ecosystem. We’re all focused on AI in the same ways and trying to shove the same dollars into the same types of companies.”
“I track specific trends like the $30 trillion wealth transfer to women, the global aging population, and the increasing diversity of Gen Alpha. These are the forward-looking forces that create value.”
“I view an investment like a stack of layers, similar to a cake. Data and demographic trends inform the basis of my thinking. On top of that, I layer the team and their ability to execute.”
Original Responses (Lightly Edited for Clarity and Flow)
Background and Personal Journey
Experiences Shaping My Investment Approach
I have been in tech and startups for most of my career; I have been a founder twice and started a community of founders. My early career in investing at 500 Startups (now 500 Global) was where I began realizing I was investing in demographic change. I saw this clearly through early investments like Blavity, which is a media platform for Black millennials, and Silver Nest, which focuses on home sharing for the aging population.
The Path to Venture Capital
Moving into venture capital was a logical progression from my time as a founder and community builder. I love spending time with people working on their life’s work; I realized that building a new type of business in venture capital was the best way to stay close to builders while satisfying my own desire to create something new.
Worldview and Decision Making
I am heavily influenced by demographic shifts and the intersection of technology and human behavior. These shifts reflect the evolving internet user base. I track specific trends like the $30 trillion wealth transfer to women, the global aging population, and the increasing diversity of Gen Alpha. These are the forward-looking forces that create value.
Philosophy and Insights
Investment Philosophy
I focus on investing at the intersection of technology and demographic shifts to capture forward momentum. This approach grew from my observation that the internet user base is evolving rapidly. We have to look at what the forward momentum is rather than what we have seen in the past.
Unconventional Perspectives
I believe in investing in where we are going rather than where we came from. I avoid the practice of artificial gating, which is the idea of building a specific version of a product for a specific demographic (e.g., “Coinbase for Women” is just, well, Coinbase). Instead, I look for category-defining companies that use demographic shifts as a beachhead to build massive, universal markets.
Balancing Intuition and Data
I view an investment like a stack of layers, similar to a cake. Data and demographic trends inform the basis of my thinking. On top of that, I layer the team and their ability to execute. Finally, I use my gut to decide if I would go to war for a founder. Sometimes the best investments happen when you drop the thesis-driven portion and follow your intuition.
Working with Founders
I value the team piece heavily; I look for founders I feel I could go to war for. I view my role as building a partnership that satisfies my entrepreneurial itch by being hands-on with a portfolio. Success in venture capital involves having a big impact and finding other investors to walk alongside.
Specific Fund Mechanics and Targeted Sectors
I invest primarily at the pre-seed and seed stages. While I describe myself as a thesis-driven generalist because demographic shifts impact every category, I specifically focus on digital health and wellness, the future of work (particularly deskless or non-office work like healthcare and manufacturing), consumer tech/brands, and the evolving enterprise workforce.
Trends and Future Vision
Exciting Emerging Trends
I am excited about the silver economy and the aging of Gen X into retirement. I am also focused on the deskless workforce, including healthcare, infrastructure, and manufacturing. I want to see how we can put AI into the hands of these workers who make up the majority of the workforce. While developers have been the early beneficiaries of these tools, we must now expand that focus to include AI-driven innovation for these other critical industries.
Improving the Ecosystem
I wish there was more independent thought in the venture ecosystem. Everyone seems focused on AI in the same ways, shoving dollars into the same types of companies led by the same types of founders. We should be applying technology to diverse categories like the deskless workforce. I write white papers and research reports to share my thinking; I do this to find people who see these big opportunities.
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Really aprecciate the "artificial gating" critique here. The tendency to segment markets by demographics often creates solutions nobody actually wants. I've seen this play out with a fintech startup that tried to build "banking for millennials" - turns out, millenials just wanted better banking. The insight about using demographic shifts as a beachhead to universal markets feels way more sophisticated than how most VCs talk about TAM expansion.