The Fourth Effect is a platform that connects founders with potential board members and investors, while also helping founders learn how to build a board. Christa Downey invested in it early because she was actively looking to become a strategic advisor and board member for startups. She continues to explore the different ways the platform enables people to connect, learn, and grow.
For many early-stage founders, building a board is uncharted territory. They know they need one, but rarely know how to recruit the right people or what that relationship should look like in practice. The Fourth Effect addresses exactly this gap — it structures the connection between founders who need board-level guidance and investors or operators who want to contribute strategically.
Downey's investment in The Fourth Effect reflects a broader logic in her approach to angel investing: backing platforms that expand access. Just as she was drawn to Chloe Capital because it widened the door for diverse founders, she saw in The Fourth Effect a way to make board-building less opaque and more actionable for the people who need it most.
For angel investors, the platform also opens a path beyond writing checks. Becoming a strategic advisor or board member is a distinct form of involvement — one that Downey was specifically seeking when she first invested. You can explore this episode and others like it on The Angel Next Door on Listenly.
"I'm building something amazing and I want you to know about this in case you want to join me — you can have a seat at the table and we can build something amazing together."
Christa Downey — Angel Investor and Coach, Wealth Reimagined.
Downey entered the angel investing world through Cornell University's startup ecosystem in Ithaca, New York, where she first heard people talk about angel investing and began asking what it could look like for her. Her friend Alyssa Miller, founder of Chloe Capital, pointed her toward books and resources — and she found Marcia Dawood's podcast early on, listening to every episode to build her knowledge from the ground up. Today she invests both as an individual angel and as a limited partner in venture funds including Chloe Capital, and coaches startup founders through the leadership transition from visionary to CEO at Wealth Reimagined.
Chloe Capital is a venture fund that invests in companies where founders come from diverse backgrounds, focusing on tech companies across a range of sectors where underrepresented founders are building.
Downey's coaching focuses on helping founders navigate the identity shift from founder to CEO, particularly around leadership, organizational alignment, and strategic clarity as their company scales.
According to Downey, the biggest mistake is struggling with delegation — because founders built the company themselves, they find it difficult to hand off responsibilities as the organization grows.
This answer comes directly from an episode of The Angel Next Door, hosted by Marcia Dawood.
Listen to the episode on Listenly