Company Profile

No.35

Jane VC

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
Cleveland, Ohio
Year Founded
2018
Data as of Publication on Aug. 11, 2020
Company Description

Jane VC launched in October 2018 with a $2 million fund. It's looking to write checks of between $25,000 and $150,000. Unlike most funds, Jane VC says it's perfectly fine if you're not connected--they'll seriously consider cold pitches that come in over the transom. The idea is that this will help them find entrepreneurs who live outside of entrepreneurial hotspots, who are underrepresented, or who just don't have the kind of backgrounds that would lead to close relationships with people with money. So far, the fund has backed ProFormex and Hatch Apps.

No.36

The JumpFund

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
Chattanooga, Tennessee
Year Founded
2013
Data as of Publication on Aug. 11, 2020
Company Description

According to Wharton, only 6 percent of early-stage investment in the Southeast U.S. goes to gender-diverse teams. To help change that, the JumpFund was established specifically to boost women entrepreneurs in that region. JumpFund's first fund, established in 2013, put $2.5 million into 18 companies. The fund's six partners -- all women -- have now raised $5.2 million for their second fund. Startups it has backed include digital concierge service Utilize Health, cloud-based diabetes management company Rimidi, and sports app developer SuperFanU.

No.37

JumpStart Focus 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
Cleveland, Ohio
Year Founded
2016
Data as of Publication on Aug. 11, 2020
Company Description

The JumpStart Focus Fund is a $10 million fund for women and minority entrepreneurs. It comes out of the powerhouse accelerator and economic development hub JumpStart, which is based in Cleveland and aims to support entrepreneurs in Ohio--or those who are willing to move there. It's looking to invest in entrepreneurs working in medical technology, software, advanced materials, aero propulsion power management, fuel cells/energy storage, sensing/automation technologies, situational awareness/surveillance systems, and solar photovoltaics.

No.38

Karmijn Kapitaal

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
2010
Data as of Publication on Aug. 11, 2020
Company Description

Founded by three women in 2010 and based in Amsterdam, Karmijn was the first European venture fund to invest specifically in gender-diverse teams. In 2013, it finished raising its first fund, for about 47 million euros. The fund invests in all industries, but its portfolio companies must be based in the Netherlands. Karmijn invests from 2 million euros to 12.5 million euros, and is a growth fund. It is looking for companies with five years of operating history and revenues of at least 5 million euros. Its portfolio includes companies such as Voigt Travel, which specializes in Scandinavian expeditions; Picturae, which digitizes cultural and natural-historical materials; and IMA, an influencer agency.

No.39

Marigold 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%
Year Founded
2019
Data as of Publication on Aug. 11, 2020
Company Description

Jonathan Hera, the co-founder of Toronto-based Marigold Capital, isn't all that impressed with the changes he’s seeing in the funding of entrepreneurs. "The white men funding other white men with toys is shifting to white men funding privileged white women, he says. He does think this represents some progress: "The access gap is real," he says, referring to women entrepreneurs and their ability to raise capital. “But to focus on one attribute is not in our minds appropriate or holistic enough."

So in March of 2019, Hera started raising a venture fund to complement Marigold's advisory work. The fund, he says, is a "deep gender equity social impact fund." That means that yes, Marigold is looking for female founders and people of color. But Hera wants to see those founders leading businesses that are helping marginalized populations. For him, that means focusing on two sectors. One is healthcare, and companies that are focusing on either sexual and reproductive health or mental health. The other is social justice and equity. "We’re trying to tackle modern slavery, or human trafficking, by looking at supply chain elements in fast fashion or food security," he says. Some local media companies, he says, can also fall into the category of social justice.

Hera is targeting a C$20 million fund, with a first close of C$5-6 million. It'll be looking for companies in Ontario and Quebec, as well as the Great Lakes, Midwest, and Northeast U.S. Hera anticipates that the fund will write first checks of $200,000 to $300,000 to about 30 companies. He estimates that about eight companies will need second rounds, to which Marigold could contribute $500K to $750,000. Three companies might get third-round checks from Marigold of up to $1.1 million.

So far, Marigold has invested in Ulula, a software to help stop sexual harassment and other abuses; NeedsList, which helps channel humanitarian aid and disaster relief efforts; and The Discourse, which supports locally driven community journalism.