Alumni Ventures Group is an investment advisor that manages some 20 funds, most of them designed to support the alumni of specific universities. But included in those 20 are six so-called "open access" funds—meaning that no specific university tie is required—and among those is the AVG Women's Fund. The fund is structured a little differently than most: Each quarter, AVG raises a new fund to invest in women. Since the second quarter of 2018, when AVG raised its first women's fund, it has averaged about $2 to $2.5 million per fund. Gail Ball, managing partner at AVG, says she hopes to see the Women's Fund soon ramp up to about $10 million per quarter, which would make it one of the more active funds to invest specifically in women.
There are two ways to get into the Women's Fund. If you have a connection to one of the universities that AVG supports (a full list is here), you can pitch the managers of that particular fund. If your business is a fit, the Women's Fund may co-invest along with the university-focused fund. If you don't have such a connection, you can pitch the Women's Fund directly, starting here. "We are perfectly happy to have things come in over the transom," says Ball. The AVG Women's Fund invests across stages, sectors, and geographies. Its recent investments include GetAround, a peer-to-peer car rental company; women's healthcare company Qurasense; and Ellevest, an investment platform for women.