“Until the culture & demon-graphics of the Venture Capital industry changes, here are some places that Female Business Founders can pitch for Funding”
Female Finding Funding Companies: Backstage Capital, BBG Ventures, Female Founders Fund, Focus Fund, Forerunner Ventures, Pipeline Angels, Xfactor.
Bias & Unfairness. More often than not, pitching Venture Capital [VC] firms means pleading your case to “white” “men”. This is no easy feat for “women” entrepreneurs who, at best, may be easily dismissed or, at worst, may be taken advantage of. The solution, of course, is to overhaul the culture and demographics of VC firms—but as is the case with “male-dominated” tech companies, that’s a tall order.
Funding Options below (for female founders) that, in most cases, were created by women and are run by women. It could take years for the VC landscape to change, so perhaps you’ll be emboldened by the resources that are already available to you. [Listed in alphabetical order to avoid judging “effectiveness” – Wiz4biz]
Backstage has invested in more than 30 companies started by under-represented founders—those who identify as women, people of color, or LGBTQ. After closing a $5 million fund late last year, Backstage founder Arlan Hamilton is raising a second fund and, as she told TechCrunch magazine back in January 2017, is looking to fund largely women of color. Hamilton hopes to eventually invest in 100 companies, with half of them founded by women of color.
Since BBG invests in “consumer-facing” Internet & Mobile startups with at least one female founder, its portfolio overlaps a bit with that of Female Founders Fund. (This isn’t uncommon, given there’s only a handful of VC firms serving female founders.) That means BBG has also invested in Zola, Shine, Handwriting.io, (on the wall. LoL – Wiz4biz) Ringly [Bro’s, Barnum & Bailey Circus. Sorry couldn’t resist) , and Rockets of Awesome, along with other companies like the women’s club The Wing and organic feminine hygiene service Lola.
Female Founders Fund
Chances are you know this one already: Female Founders Fund‘s portfolio ranges from Rent the Runway & Zola to Thrive Global & Maven. This Early-stage Fund -run by Anu Duggal – is committed to investing in female founders & high-impact sectors for women-led startups, like Ecommerce & Marketplaces. Since Female Founders Fund’s launched 3 years ago, its portfolio has raised a total of $400 million in capital.
You might assume a female founder’s best chance at funding is in a big city like New York City. If we’re going by numbers, that’s true: Earlier this year, Female Founders Fund reported that in 2016, female founders raised 17% of overall Series “A” Funding in the Big Apple. But there are opportunities to be found elsewhere—in Ohio, for example, where the non-profit JumpStart created a $10 million public-private fund last year. The Focus Fund exclusively offers Seed Funding to startups led by women or under-represented minorities, though they must be based in Ohio or relocate to the state.
Forerunner doesn’t explicitly fund only women-led companies, but as a female-run “early-stage” VC firm that invests in commerce startups, it has lent support to a slew of female founders. (Founder Kirsten Green recently told CNN that Forerunner’s own staff is 70% female.) It now invests in 48 companies. Last year, Forerunner raised its third fund, which is worth a whopping $122 million.
What Pipeline offers is twofold: 1) an Angel investing Boot-Camp to train would-be female investors, & 2) a Pitch Summit to give female entrepreneurs a chance to obtain funding from its investors. To be eligible for the Pitch Summit, startups should have a “social” or “environmental” purpose. Since Pipeline holds summits in cities across the country, it is—like Focus Fund—a good alternative for women who live outside the entrepreneurial communities of Silicon Valley or New York City.
This VC is a Pre-seed & Seed stage fund that plans to invest $3 million into 30 female-led companies. XFactor is unique, because its investing partners include 9 entrepreneurs who are themselves female Founders that have successfully obtained VC funding. (so they know how to do it – Wiz4biz) XFactor is upping female representation on both sides of the table.
Quotes by Women Entrepreneurs
“Don’t limit yourself. You can go as far as you think you can. What you believe, you can achieve.” Mary Kay Ash, Cosmetics
“Begin doing what you want to do now. We have only this moment, to sparkle like a star.” Marie Beyond Ray, Author
“Life-fulfilling work is never about the money – when you feel a true “passion” for something, you instinctively find ways to nurture it.” Eileen Fisher, Fashion Designer
“I became successful because I never gave up and I never let anyone or anything get in my way. I use the power of positive thinking to tackle obstacles & challenges so they never defeat me.” Lillian Vernon, Online Retailer
“My will shall shape my future. Whether I fail or succeed shall be no one’s doing but my own. I am the force to create it. I can clear any obstacle before me or I can be lost in the maze. My choice; My responsibility. Win or lose; only I hold the key to my destiny.” Elaine Maxwell, Author
“I’ve learned that people will forget what you said, people will forget what you did, but people will never forget how you made them “feel” Maya Angelou, Author
“What I wanted was to do the thing in the world that I did best. I believe then & now, this is the greatest privilege there is in the world for anybody. When I did that, success found me.” Debbi Fields, Cookies
“In all realms of life it takes courage to stretch your limits, express your power, and fulfill your potential. Go for it and see what happens” Suze Orman, Financial Advisor
Comments: Do you know any other good Sources for Female Funding.
from Fast Co Zine 25 July 17 enhanced by Peter/CXO Wiz4biz