Ernestine Fu, 20, is taking off her pants. It's 8:35 p.m., and the venture capitalist is changing back into a college sophomore in the rear seat of a borrowed white Prius. After attending two social mixers on Palo Alto's Sand Hill Road, she removes her sleek black pantsuit and heels, leaving a royalblue ruffled blouse that transforms into a short dress. "Amazing articles of clothing can really help in terms of time management," Fu says as she slips on a pair of flats before heading to meet a friend at CoHo, a Stanford University coffeehouse. Like a superhero, Fu prefers to keep quiet about her off-campus identity as an associate at San Francisco venture capital firm Alsop Louie Partners. The firm was founded in 2006 by Stewart Alsop, an early investor in TiVo ( TIVO - news - people ) and Netcentives, and Gilman Louie, who previously ran a CIA-affiliated venture fund. Fu juggles the intense responsibility of workin...