In 2015, Arlan Hamilton was homeless, sleeping on the floor of San Francisco airport with a rolled-up pair of jeans for a pillow. That same year, she launched Backstage Capital, built around a core truth: underrepresented founders weren’t suffering from a pipeline problem, they had a recognition problem. With no college degree, no finance network, and doors closed by traditional investors, she built her own fund instead, putting investing power into the hands of ordinary people. Backstage Capital has since invested around $20 million into nearly 200 businesses the VC landscape overlooked. This conversation is about chasing a goal that sounds impossible, surviving the rejection that comes with it, and how to earn her investment.