Women investing in alternatives aren’t just building wealth — they’re reshaping the future. With capital comes power, and a growing number of women are using that power to back innovations, challenge the status quo, and invest in ways that reflect their values. For these investors, data still matters — but so do instinct, purpose, and long-term impact.
Last month, I presented “Women & Alts: A Global Perspective” at an event in Kuala Lumpur hosted by CFA Society Malaysia. What followed was an insightful conversation with two trailblazing panelists, Adelena Lestari Chong, CFA, and Vinie Chong Pui Ling, CFA, about how women investors are adding three powerful value drivers to the investment process: inspiration, intuition, and impact.
Inspired to Invest, Driven to Lead
Adelena Lestari Chong: I’ve been drawn to finance since childhood, believing every woman should be financially empowered. Investing isn’t just about returns — it’s a way to fuel innovation, support communities, and build lasting impact. It challenges me intellectually and enables me to advocate for diversity in a male-dominated field. Often the only woman at the table, I saw how diverse voices strengthen decisions. That insight drives my work on corporate boards and my commitment to helping more women become CEOs and board members.
Vinie Chong Pui Ling: I realized early on that those who control capital shape the future. Finance isn’t just a path to wealth—it’s a platform for influence. As I rose from analyst to CFO, that insight drove me to the decision-making table to challenge the status quo and drive change. Women bring fresh perspectives, ask better questions, and champion bold ideas rooted in lived experience. For me, success now means creating value that’s not just profitable, but meaningful.
Barbara Stewart: In my early 20s, a boyfriend mocked me for not reading the news. Embarrassed but motivated, I started reading the Wall Street Journal cover-to-cover during my commute—and discovered a genuine fascination with finance. The relationship didn’t last, but my passion for the markets did. That moment set me on a path to the investment industry. A few years later, I landed my first role trading currencies—and I never looked back.
Intuition as an Investment Edge
Adelena Lestari Chong: Investing is often seen as a numbers game, driven by data and precision. But over time, I’ve learned that intuition plays a critical role. Early in my career, I relied heavily on metrics and models. As I gained experience, I realized that people—their character, vision, and resilience—matter just as much as the numbers.
Some of my best decisions came from trusting my gut. In one case, I backed a team the data said to avoid, and the investment delivered strong returns in 18 months. Another time, I chose a property others dismissed—because I simply asked, “Would I want to live here?” It doubled in value within three years. Today, I combine analytics with instinct, knowing that successful investing often lies in what the numbers can’t tell you.
Vinie Chong Pui Ling: Early in my career, I focused on perfect deals—strong IRR, clean models, all the right signals on paper. But when something felt off—community concerns, environmental red flags—I began to realize investing isn’t just technical; it’s deeply intuitive.
Intuition, shaped by experience and values, now guides me when numbers alone don’t tell the full story. I assess leadership integrity, ethical alignment, and long-term impact. Real value isn’t just in returns—it’s in purpose and the broader outcomes we help create.
Barbara Stewart:
Intuition, to me, means doing what feels right—even without a spreadsheet to justify it. Two pivotal, life-changing moments shaped my career: in 2010, I invested in global travel to interview 50 women for my first Rich Thinking paper. In 2016, I left portfolio management to focus entirely on research. Neither decision was irrational—but neither came from data alone. They came from instinct, clarity, and conviction. So far, intuition has served me well.
Where Women Are Investing
Adelena Lestari Chong: Private equity in AI, cybersecurity, and health R&D are rapidly growing sectors—and women need a stronger presence in them. These aren’t just high-demand areas; they’re where the future is being built. Women bring unique perspectives that can be the X factor in investment success. There’s real opportunity here—not just to participate, but to lead and shape the future of global economies.
Vinie Chong Pui Ling: Women are driving capital into climate tech, sustainable infrastructure, and ESG-aligned assets, where inclusive leadership is increasingly valued. In venture capital, Femtech and impact-driven start-ups offer opportunities to back solutions for underserved markets — especially women’s health and financial inclusion.
Barbara Stewart: From my global interviews, one theme is clear: women are most interested in healthcare and Femtech. Historically, medical research and treatment have centered on men—but that’s changing fast. We are now seeing a surge in technologies focused on women’s health, and it’s creating powerful opportunities for innovation, investment, and impact.
Women are increasingly open to including the defense sector in their investment strategies. Once viewed alongside sin stocks, defense is now seen through a new lens—as a provider of security for families and nations. With advancements in drone, radar, and tech-driven solutions, the sector feels less tied to traditional military stereotypes and more aligned with innovation and protection—values many women investors prioritize.
Key Takeaway
As women gain ground in alternative assets, their influence will grow. By tapping into their original inspiration for entering the industry, trusting their intuition, and staying focused on impact, women bring a powerful edge to investment decisions. These value-driven factors make them a distinct and transformative force in the alternatives space.
