Company Profile

No.1

Ahava Holdings & Ventures

Company Information

How the 2019 The Fundery Companies Were Selected

The Fundery includes venture capital funds that take equity stakes in women entrepreneurs or women-led companies as the execution of all or part of their investment theses. It does not include angel networks (unless they also run a venture capital fund) nor does it include special purpose vehicles.

Data as of Publication on Aug. 11, 2020
3-Year Growth
0%
Year Founded
2017
Data as of Publication on Aug. 11, 2020
Company Description

Ahava Holdings & Ventures is the first fund in Canada led by an Afro-Canadian woman that focuses on women entrepreneurs creating social impact through technology. Located in Kitchener, Ontario, The fund is led by serial entrepreneur and investor Janét Aizenstros. AH & Ventures manages deal flow through two family offices, and secures funding from syndicated partners. The fund invests across stages, from seed to growth, and writes checks ranging from $200,000 to $2 million. Through various partnerships, startups that are backed by AH & Ventures also have access to a virtual accelerator and incubator. The fund has so far invested in data-driven tech companies focused on creating social impact in fashion, agriculture and education. AH& Ventures’ portfolio companies include Fetchir, a SaaS application for dog breeders and their customers; and ICON, a tech-enabled entrepreneurship platform for Generation Z.

No.2

Alchemus Capital

Company Information

How the 2019 The Fundery Companies Were Selected

The Fundery includes venture capital funds that take equity stakes in women entrepreneurs or women-led companies as the execution of all or part of their investment theses. It does not include angel networks (unless they also run a venture capital fund) nor does it include special purpose vehicles.

Data as of Publication on Aug. 11, 2020
3-Year Growth
0%
Location
Irvine, California
Year Founded
2015
Data as of Publication on Aug. 11, 2020
Company Description

Alchemus invests across industries, stages, and continents. That might make Alchemus appear unfocused, but that expansive approach is actually core to its mission: to find companies able to scale with potential for cross-border commercialization. Alchemus's definition of inclusion covers both women and what it refers to as "global, multi-cultural entrepreneurs." The $50 million fund was started by Bethany LaFlam, a lawyer with extensive experience in entrepreneurship and cross-border investment strategy, and Phyllis Newhouse, CEO and co-founder of Xtreme Solutions, a five-time Inc. 5000 honoree. Alchemus's investments so far include companies in digital media, tech, AR/VR, big data, artificial intelligence, and healthtech.

No.3

Alitheia IDF

Company Information

How the 2019 The Fundery Companies Were Selected

The Fundery includes venture capital funds that take equity stakes in women entrepreneurs or women-led companies as the execution of all or part of their investment theses. It does not include angel networks (unless they also run a venture capital fund) nor does it include special purpose vehicles.

Data as of Publication on Aug. 11, 2020
3-Year Growth
0%
Year Founded
2017
Data as of Publication on Aug. 11, 2020
Company Description

Mauritius-based Alitheia IDF, also called Alitheia Identity, is unusual in at least two ways. First, it's a private equity fund run by women. Second, it says it is the only growth-stage investor in Africa committed to investing in gender-diverse teams as a means to drive impact and return. Alitheia's business case points to a McKinsey report finding that African companies in the top quartile with regard to women's representation have outperformed industry EBIT margins by an average of 14 percent. The firm has offices in Mauritius, Lagos, and Johannesburg, and invests in six countries: Nigeria, South Africa, Ghana, Zambia, Zimbabwe, and Lesotho. It invests across a range of industries, including but not limited to agribusiness, consumer goods, health, education, creative industries, and financial and business services. Seeded with $12.5 million by the African Development Bank, Alitheia closed a $75 million fund in 2017. It's looking for companies with less than $10 million in annual revenue and fewer than 100 employees.

Note: Alitheia IDF's chief investment officer is also the co-founder of Alitheia Capital, which is a more traditional private equity fund operating in Nigeria.

No.4

AmplifyHer Ventures

Company Information

How the 2019 The Fundery Companies Were Selected

The Fundery includes venture capital funds that take equity stakes in women entrepreneurs or women-led companies as the execution of all or part of their investment theses. It does not include angel networks (unless they also run a venture capital fund) nor does it include special purpose vehicles.

Data as of Publication on Aug. 11, 2020
3-Year Growth
0%
Location
New York, New York
Year Founded
2018
Data as of Publication on Aug. 11, 2020
Company Description

Started in October 2018 by Tricia Black, who was formerly the vice president of ad sales at Facebook, Amplifyher says it is fully financed to make 10 to 15 investments of $100,000 to $300,000 in the next three years. Steering the investments with Black will be Meghan Cross Breeden, who was formerly a managing partner at Red Bear Angels. The fund says most of its investments will likely be in New York City or Boston.

No.5

Artemis Fund

Company Information

How the 2019 The Fundery Companies Were Selected

The Fundery includes venture capital funds that take equity stakes in women entrepreneurs or women-led companies as the execution of all or part of their investment theses. It does not include angel networks (unless they also run a venture capital fund) nor does it include special purpose vehicles.

Data as of Publication on Aug. 11, 2020
3-Year Growth
0%
Location
Houston, Texas
Year Founded
2019
Data as of Publication on Aug. 11, 2020
Company Description

As the co-founder of Monarq, an incubator for women entrepreneurs, Diana Murakhovskaya didn't need to be convinced that women face an unfair playing field when it comes to venture capital. She recalls one founding team, a man and a woman, who told her that when they pitched a particular firm, they were asked for nine references each. Every single one of the woman's references were contacted. Not one of the man's were.

"We believe great companies are being built by women," says Murakhovskaya. "But there is a lack of funding going their way."

Investors in venture funds "see the numbers" showing that women-only teams get 2.2 percent of venture capital, "and they’re shocked by them, but they don’t change it," says Murakhovskaya. "It's only when someone has a high-net-worth family office and a daughter in the workforce that they finally start to see the problem."

Murakhovskaya sees Houston as an opportune place to try to turn things around. Unlike in Silicon Valley, she says, Houston has many people with money who haven't considered investing in startups. "We started talking to people about the prospect of investing, and realized most had just never been asked, or didn't know it was an option," she says. So Murakhovskaya, formerly a commodities trader, teamed up with Leslie Goldman, a corporate lawyer, and Stephanie Campbell, managing director of the Houston Angel Network, to raise a $20 million fund.

The fund is called Artemis and looks to invest in seed and A-stage deals. Their favored industries are fintech; consumer products and experiential commerce; so-called lifetech (technology for aging and babies, and "anything that helps reduce friction for household CEOs"); and energy and sustainability. The partners plan to lead about two-thirds of their deals, take board seats, and help create funding syndicates. About two-thirds of the fund will be reserved for follow-on financing.

While Murakhovskaya and her partners are still raising money for Artemis, they had their first close in July, and announced their first investment that same month. It's uNest, a company that helps families create tax-advantaged college savings accounts.