In the fast-paced world of venture capital, where billion-dollar valuations often eclipse ethical considerations, Setareh Heshmat is charting a different course—one that unapologetically centers values alongside valuation. As the Director of ESG Investments at a leading VC firm in Singapore, Setareh has spent years cultivating a philosophy of funding that blends purpose, performance, and integrity. But one area where she is particularly passionate is in reshaping the narrative around women and wealth—specifically, how capital can empower women-led ventures to lead the next wave of sustainable innovation.

“Too often, we talk about women in business as a side story,” Setareh says. “But the data is clear—women entrepreneurs deliver higher returns, build more inclusive teams, and often tackle real-world problems in more grounded ways. So the real question isn’t whether we should fund them. It’s why we’re still not doing it enough.”

Setareh’s journey into ethical investing is anything but accidental. With a multicultural upbringing in Singapore, a Persian-Singaporean heritage, and a household steeped in intellectual discourse—her mother a cultural studies professor and her father a sustainability-minded developer—Setareh grew up seeing capital not just as currency, but as a conduit of power. She pursued finance with precision, earning degrees from NUS and INSEAD, and sharpened her analytical edge with certifications like the CFA and data analytics training from MIT. But even with her impressive credentials, she often found herself as one of the few women—let alone women of color—sitting across the table in investment meetings.

Instead of shrinking, she leaned in. She used those moments not just to claim space, but to reshape the space itself. Today, she advises startups, consults with institutional investors on ESG strategy, and mentors emerging female founders across Southeast Asia. But her deeper work is systemic: challenging how venture capital defines value, risk, and leadership in a world that desperately needs new models.

“I’m not here to sprinkle sustainability on the side,” she says. “I’m here to make it the foundation. And that starts with who gets funded.”

For Setareh, women-led ventures represent more than a demographic checkbox—they represent a leadership style that’s inherently more collaborative, impact-conscious, and long-term in thinking. From micro-grid energy solutions in the Philippines to ethical fashion platforms in Malaysia, many of the companies in her portfolio are driven by women solving urgent problems in their communities—often with fewer resources and more accountability than their male counterparts.

And yet, despite this, global statistics show that women receive less than 3% of total venture capital funding. Setareh is determined to change that, not through charity or tokenism, but through strategy and structure. She advocates for the integration of gender-lens investing into core fund mandates and designs internal metrics that track not only financial performance but inclusive hiring, community reinvestment, and governance transparency.

One of her guiding principles is what she calls “funding with integrity.” This means aligning term sheets with mission, avoiding extractive investor-founder dynamics, and ensuring that entrepreneurs retain meaningful control over the purpose of their work. “Too often, founders compromise their vision to secure capital,” she says. “But what’s the point of building something impactful if you lose your compass along the way?”

Setareh also understands the emotional side of money, especially for women. “There’s still a deep, unspoken tension between power and femininity in finance,” she notes. “Many brilliant women hesitate to ask for funding, or they water down their ambition to seem more ‘reasonable.’ We need to create spaces where women can be as bold with their capital needs as they are with their ideas.”

This is why she’s now laying the groundwork for what may become her legacy project: launching a women-focused sustainable investment fund across Southeast Asia. The fund’s thesis is simple but bold—to back women-led ventures that are solving critical sustainability challenges in emerging markets. The approach? Patient capital, community-centric governance, and high-touch mentorship to bridge the gap between seed funding and scalable impact.

“It’s not just about writing checks,” she says. “It’s about building ecosystems—networks of support, trust, and long-term commitment. I don’t want to just invest in businesses. I want to invest in women who are building entirely new economic models.”

As a mentor and public speaker, Setareh is increasingly sought after for her honest insights on climate-conscious investing, ethical finance, and the psychological toll of high-stakes leadership. She’s known for telling hard truths in elegant ways—whether in boardrooms or on stage. One of her signature quotes, now shared across impact investing circles, captures her ethos perfectly: “Capital is not neutral. Every dollar is a decision. So ask yourself—what are you deciding to build?”

Despite her growing influence, Setareh remains grounded. Her downtime involves minimalist painting, road trips to nature reserves, and reflective evenings on her Marina Bay balcony, where she often journals about the emotional landscape of leadership. “I think a lot about legacy,” she admits. “Not in the ego-driven sense, but in the quiet way. What do we leave behind when no one’s watching?”

In a time when the world is craving more conscious capitalism, Setareh Heshmat stands at the intersection of women, wealth, and impact with clarity and conviction. Her guide to funding with integrity isn’t just about finance—it’s a philosophy of stewardship, equity, and purpose. And for every founder, investor, or aspiring changemaker, her message is clear: Lead with values. Invest with intention. Build like it matters—because it does.