Company Profile

No.24

Female Founders 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
Location
New York, New York
Year Founded
2014
Data as of Publication on Aug. 11, 2020
Company Description

Entrepreneur Anu Duggal created Female Founders Fund in 2014 to make early-stage investments in women-led companies. Her first fund was about $6 million and took stakes in around 30 companies. The second fund, at $27 million, boasts investors such as Melinda Gates, Stitch Fix founder Katrina Lake, and Rent the Runway co-founder Jenny Fleiss. The fund's investments include Zola, Maven Clinia, and Tala.

No.25

Force For Good 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
Location
Fremont, California
Year Founded
2016
Data as of Publication on Aug. 11, 2020
Company Description

The Force for Good Fund is the first crowdfunded venture fund to invest only in B Corps founded by women or people of color. In the fall of 2016, it raised about $1.1 million, and subsequently made its first investment in Spotlight Girls, a multimedia platform and summer camp. Not only does the Force for Good Fund hope to increase the number of B Corps founded by women and people of color, but it also aspires to help increase the number of B Corps that address climate change as part of their business model. The fund's advisers include Rose Marcario, the CEO of Patagonia, and Gigi Lee Chang, a founder of Plum Organics.

No.26

Founders First Capital Partners

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
Location
San Diego, California
Year Founded
2015
Data as of Publication on Aug. 11, 2020
Company Description

Kim Folsom's first entrepreneurial venture was in 1996, when she founded SeminarSource, a provider of continuing education. She sold her sixth company, lead generation application Reel Qualified, in 2015. In the interim, says Folsom, when it comes to funding for women and people of color, "not a lot had changed."

In 2015, she started San Diego-based Founders First Capital Partners, an investment fund that differs substantially from most capital available to early entrepreneurs. Founders First is a revenue-based fund, which means that it loans money to entrepreneurs with a set cap on the return. Folsom is looking to invest up to a million dollars and get a 1.5 to 2x return over three to five years. She says this structure better aligns the interests of the entrepreneur and the investor. "With an equity fund, you’re trying to run the company and the equity investor can’t wait for you to exit," she says.

A revenue-based fund also lets Folsom move more quickly. She says she has $100 million in committed capital, and is currently operating out of her second fund. In 2020, she says, she expects to do 15 deals. "Equity-based funds might do two investments a year," she says.

Folsom focuses on underrepresented founders, which to her means women, ethnic minorities, LGBTQ founders, military veterans, and those from moderate-to-low income areas. She'll invest anywhere in the country, and has backed a number of manufacturing and services companies.

Before Folsom started her first company, she worked at other successful venture-backed companies. Most first-time founders don't get that experience, she says, so she's set up educational programs to get them up to speed. For larger companies, that means a four-day, in-person event; for others the seminars are a blend of online and off.

Her companies include Quality Interactions, which helps hospitals get staff licensed and trained; and technology consultants Clarinet Solutions.

No.27

GingerBread 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
Location
New York, New York
Year Founded
2017
Data as of Publication on Aug. 11, 2020
Company Description

Led by Linnea Roberts and Ita Ekpoudom, GingerBread is named for Roberts's mother, Ginger Conrad. Conrad was the founder and publisher of MBE, a magazine that promotes business ownership among women and minorities as a route to economic empowerment. The name is particularly fitting given that GingerBread is backed by a family office, rather than a group of traditional limited partners. GingerBread, which backs women founders and co-founders across industries, has the flexibility to invest from Series A up through growth capital. Its portfolio includes home-renovations platform Sweeten, women-focused co-working space the Riveter, and edtech company ThinkCerca.

No.28

GoldenSeeds

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
Location
New York, New York
Year Founded
2005
Data as of Publication on Aug. 11, 2020
Company Description

Golden Seeds was one of the first angel groups to invest exclusively in women-led companies. It's now one of the biggest and best-known, with headquarters in New York City and chapters in five other locations. Golden Seeds also runs three venture funds and has invested more than $100 million since 2005. Its portfolio com­panies include Poshly, Tot Squad, and Cognition Therapeutics.