Theresia Gouw Becomes First Female Billionaire in US Venture Capital

Theresia Gouw, co-founder of Acrew Capital, has officially become the first and only female billionaire venture capitalist in the United States, with a fortune built through decades of strategic tech investments and a commitment to inclusive leadership.

Facebook Bet at Accel Played Key Role

Theresia Gouw's rise to billionaire status is rooted in her time at Accel, one of Silicon Valley's prominent venture capital firms. During her 15-year tenure, she was instrumental in guiding the firm toward a now-legendary 2005 investment in Facebook, then a modest social media platform started in a college dorm. That single move turned into one of the most profitable deals in VC history, with Gouw’s share in the fund significantly boosting her personal wealth.

Her decision-making during this period was not just based on market potential but on understanding shifting user behaviors and emerging digital platforms. Her involvement in such high-stakes deals laid the foundation for her financial success.

Launching Acrew and Backing Inclusive Ventures

In 2019, Gouw took a decisive step toward building a more inclusive investment model by co-founding Acrew Capital. The firm, which raised $700 million in its latest funding round, now backs startups in fintech, cybersecurity, and health tech. A noteworthy feature of Acrew is its leadership composition—83% of its founding team consists of women or people of color.

Speaking with Forbes, Gouw expressed that inclusion is not just a matter of representation, but a critical factor for innovation and long-term business sustainability. She emphasized that diversifying the people making funding decisions can reshape which founders get backed—and ultimately which ideas get built.

Early Life and Education

Born in Indonesia in 1968 to Chinese parents, Gouw immigrated to the U.S. at the age of three. Her family settled in upstate New York, where she developed a passion for math while watching football with her father. She became the first student from her high school to attend Brown University, where she earned her undergraduate degree. Later, she received her MBA from Stanford Graduate School of Business.

Before joining Accel in 1999, Gouw worked as a consultant at Bain & Company and co-founded a software startup, giving her a unique operational perspective when evaluating tech ventures.

Championing Equity in Venture

Beyond Acrew, Gouw has dedicated significant energy to closing the equity gap in tech. She co-founded All Raise, a nonprofit advocating for greater female participation in venture capital. In a symbolic gesture underscoring her commitment, she personally donated $1 million to enable Fisk University, a historically Black institution, to invest in Acrew’s fund. This marked a first in terms of such institutions gaining exposure to venture returns.

As DEI (Diversity, Equity, and Inclusion) efforts face increasing resistance in parts of the tech industry, Gouw remains vocal about the need for systemic change. Her work bridges financial leadership and social responsibility—making her a distinctive figure in a space still largely dominated by male investors.