Hot Smart Rich Founder Maggie Sellers Tells All

You Can Do It All

Interview by Hailey Bethke | Photography courtesy of Maggie Sellers

Maggie Sellers is an angel investor, a start-up advisor, and the founder of Hot Smart Rich (HSR) and HSR Ventures. She broke the internet with her brand, Hot Smart Rich, challenging societal norms that say women cannot embody all three of those characteristics. On her social channels, Sellers encourages women to claim their confidence and offers her latest perspectives in venture capital and unfiltered segments of her life as a serial entrepreneur and investor living in Beverly Hills. This exclusive interview is inspired by Sellers’s highly coveted weekly newsletter, titled “ICYMI” (in case you missed it), which contains a debrief of her biggest wins and teachings from the industry, life updates, a vision board, and all HSR-related news.

Read on to get a taste of the Hot Smart Rich lifestyle and learn about the biggest trends in venture capital and angel investing for 2024.

VIE: Tell our readers a little bit about you. How did you begin angel investing, and how did your experiences in venture capital lead you to start Hot Smart Rich?

Maggie Sellers: I started my career in sales and as a brand marketer. So, I know how to build brands that resonate and sell them to consumers. When I moved to LA, I started working in brand management in the entertainment industry and helped two record labels start their corporate venture arms to help diversify income streams for their artists. Think about Joe Jonas investing in Ohza—I was part of that. From there, I transitioned into celebrity deal-making in the consumer space. Remember Sofia Richie becoming the face of Nudestix—I was part of that. From all that experience and building my network of founders and investors, I had a natural “in” to angel investing and getting into venture capital. I’ve always spent my career in male-dominated industries and companies. Investing was no different, but I finally felt it was the right time to build a community around women, and that’s how I started Hot Smart Rich.

VIE: What does it mean to embody Hot Smart Rich energy?

MS: My whole life, I was taught I can only be one of those things: hot, smart, or rich. I started HSR to empower women to know that they can be anything they want to be and should not be bound by the societal constructs people expect us to operate in. And yes, it is so polarizing. When I started making videos saying, “I am hot, smart, and rich,” people were like, “Is this satire?” My response has always been, “Why is it so hard for you to hear a woman say that?” We need to start letting women feel empowered to be whoever they want and stop putting them in these boxes. Talk about money, claim rich energy, claim being hot, claim being smart.

VIE: What are your hopes for the future of women in start-up culture, venture capital, and investing? How does this connect to your mission behind HSR Ventures?

MS: The thesis of HSR Ventures is to invest in the start-ups we believe are the next generation of category-defining brands and services that empower a woman as she evolves throughout her role in society. We value innovation that empowers and improves relationships, motherhood, careers, financial security, women’s health, and better living. Did you know in 2022, women controlled 85 percent of consumer spending in the US but only got 2 percent of venture capital dollars? That year, $149 billion was invested into start-ups, and female founders only received $3 billion of that. Our thesis is the cornerstone of HSR, and given the headwinds that female investors and entrepreneurs face, I hope HSR will be part of changing that statistic.

VIE: What is the greatest lesson you have learned from directly working with founders? What is a common thread or quality that each of these founders shares? Do you feel this trait is undervalued in society?

MS: Never give up, and be delusionally confident that you will win. All the founders I work with have such a sense of conviction and purpose that what they’re doing or building will change the world. They are driven to continue moving and iterating to find the perfect product for their communities. I don’t necessarily think confidence and being driven are undervalued in society, but I don’t think people understand how truly important it is to have these qualities if you’re going to be a founder who wins.

VIE: What has been your biggest “failure,” and how have you since used that experience to contribute to your success?

MS: This isn’t necessarily a “failure” but a shortcoming I’ve worked to overcome: The venture capital ecosystem is small and closed. A lot of gatekeeping happens, and you have to know the right people or have gone to the right school or worked at an investment bank to get your foot in the door. I didn’t have any of those things when I started. I grew up in Toronto, Canada, went to college in London, Ontario, and came from the branding world. The deck was stacked against me. I’ve had to learn on my own dime and prove myself in this industry, and that has made me successful!

Never give up, and be delusionally confident that you will win.

VIE: Please share what consumer brands you have invested in and what industries you are looking to expand in (or predict will be hot topics in 2024).

MS:My most recent investment was in Locker. Locker is a social shopping tool and platform revolutionizing how the everyday consumer shops online. We are building a platform that autonomizes and automates the consumer shopping experience by providing a tool to make organized wish lists while using the data from our user base to provide a personalized product feed and recommendations based on the user’s brand, price, and style preferences. I’ve spent the last two years advising the CEO, Kristine Locker, and she has become one of my best friends. So, not only am I an investor, but I feel like I’ve been building alongside her, which is the best feeling ever. I’m on a high! This is the first time I’ve put more money in when I already own a percentage of the company, and honestly, it is such a great feeling to see one of your founders win.

Other notable investments I have in the consumer space are Allara Health, De Soi, Deux, Upkeep Beauty, Mixlab, and Sydecar.

This year, HSR Ventures is going to continue doubling down on women’s health as a category.

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Visit www.HotSmartRich.shop to learn more, shop for merch, or sign up for the “ICYMI” newsletter. You can also follow Maggie Sellers on Instagram (@maggiesellers) and TikTok (@maggiesellers_).

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ICYMI: More from Maggie

CONSUMER NEWS

Three Trends and Shifts in the Marketplace

1. Sports is the new it girl! Check out my TikTok for more on this POV.

2. If you want to build a business, start with building a community.

3. We’re entering the age of the business creator.

RAPID-FIRE QUESTIONS

What Is . . .

• One mindset shift you need to adopt to thrive in start-up culture? Be relentless.
• Your number one tip for people who want to start angel investing? Grow your network—your network is your net worth.
• Something or someone that inspires you? Deborah Benton at Willow Growth
• One thing people would never guess by looking at you? I have ADHD and a learning disability.
• A recent win you’re proud of? My investment in Locker
• Your go-to beverage? De Soi nonalcoholic gut glow cocktail
• Something that will always make you laugh? My nephew

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