By Felicity Morgan, Senior Correspondent
Daniella Pierson, the 29-year-old founder of media platform The Newsette, has launched a pioneering initiative called CHASM, aimed at closing the gender funding gap in the venture capital world. Officially unveiled on May 20 in New York City, CHASM is designed as a “mentor-to-many” model in which high-profile contributors invest $25,000 annually to empower aspiring female entrepreneurs through mentorship, capital access, and professional networking.
The venture has already attracted a host of notable supporters, including Spanx founder Sara Blakely, music icon Lionel Richie, Instacart CEO Fidji Simo, life strategist Tony Robbins, and Drybar co-founder Alli Webb. These influential backers reflect the cross-industry appeal and urgency of CHASM’s mission to provide women entrepreneurs with the tools and support often lacking in traditional funding avenues.
A Founder’s Personal Mission
Daniella Pierson’s journey to launching CHASM is rooted in personal experience. She began her entrepreneurial path as a college student at Boston University, creating The Newsette as a side hustle from her dorm room. Despite repeated rejections from investors and the challenges of navigating a male-dominated industry, Pierson managed to turn her newsletter into a $40 million media business — all without external funding.
Her experience of exclusion from venture capital circles and the broader difficulties women face in accessing capital inspired her to take action. For Pierson, CHASM represents not just a program but a personal mission to provide the support she once needed.
Closing the VC Gender Gap
The issue CHASM seeks to tackle is stark: in recent years, less than 2% of all venture capital funding has gone to women-led startups. This systemic disparity persists despite an increase in the number of women entrepreneurs and a growing body of evidence showing that female-led companies often deliver strong returns.
CHASM’s approach addresses this gap by providing both financial backing and social capital. Under its “mentor-to-many” framework, contributors commit annual funds that are split between program operations and direct non-dilutive grants under the donor’s name. This model ensures that women entrepreneurs benefit not only from access to capital but also from mentorship and exposure to influential networks.
Empowerment Through Inclusion
CHASM takes a unique stance in promoting inclusivity by encouraging both women and men to become part of the solution. Pierson emphasizes that achieving gender equity in entrepreneurship requires involvement from the very individuals who hold the majority of economic and political power — predominantly men.
By actively engaging male allies and leveraging their influence, CHASM seeks to build bridges, not walls. This inclusive strategy is central to its mission of driving systemic change, rather than offering surface-level solutions.
Strategic Partnerships for Broader Impact
Beyond its core mentorship and funding efforts, CHASM is forming partnerships with major brands to enhance the lives of its participants. One of the initiative’s first launch partners is Instacart, which is offering complimentary annual memberships to female entrepreneurs in the CHASM network. This benefit aims to streamline daily responsibilities and provide more time for business development — a small but meaningful support to time-strapped founders.
This kind of collaboration underscores the multi-layered approach CHASM takes: not only funding and mentorship, but also practical support that acknowledges the complex realities many women face as they pursue business growth.
A Bold Vision for the Future
CHASM stands as more than just a new nonprofit; it is a movement designed to reshape the venture capital ecosystem by nurturing a new generation of successful female entrepreneurs. Through its network of backers, hands-on mentoring, strategic alliances, and ongoing support programs, it aims to be a lasting force for change in an industry that has historically marginalized women.
Daniella Pierson believes that true transformation starts by investing in those who have been systematically overlooked. With CHASM, she’s creating a replicable model that may not only empower women in the U.S. but also inspire similar movements globally.
