Company Profile

No.52

Salesforce Impact Portfolio

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 Francisco, California
Year Founded
2017
Data as of Publication on Aug. 11, 2020
Company Description

Launched in 2017, Salesforce's Impact Fund is a $50 million project within the company's larger $1 billion venture fund. (That larger fund looks to invest in companies built on the Salesforce platform that can deliver unique capabilities to Salesforce customers.) The Impact effort is led by Suzanne DiBianca, the creator of Pledge 1%, which encourages corporations to donate 1 percent of their time, equity, profits or products to philanthropy. The Impact Fund so far includes 18 companies, 70 percent of which are women- or minority-led. Salesforce typically invests in the A or B stage, and DiBianca says she's actively looking for more companies in the climate and sustainability industries. Investments include continuing education company Guild Education and Angaza, which makes a payments technology for providers of green energy.

No.53

SAP.iO No Boundaries

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 Francisco, California
Year Founded
2018
Data as of Publication on Aug. 11, 2020
Company Description

SAP.iO is a $35 million fund that focuses on early-stage enterprise software startups. It's put about $4 million to work so far, in companies such as Plum, which integrates artificial intelligence into HR and recruiting processes, and medical records company Medal. In 2019, under an initiative called SAP.iO No Boundaries, the fund announced that it would direct at least 40 percent of its investments to women and underrepresented minorities. As a global company, SAP says its definition of underrepresented will vary by region. In Silicon Valley, says SAP chief strategy officer Deepak Krishnamurthy, men from India and Southeast Asia may not be considered underrepresented. "That will change when you look at it in a European context," he says. SAP also runs a series of accelerators in cities such as New York and Tokyo and in Europe, with plans to open in other areas soon. The most recent cohort in the New York accelerator is made up entirely of women and minority entrepreneurs.

No.54

Silvergate Investments

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

Silvergate Investments was founded in 2018 by Waheed Alli, the founding chair of British fast-fashion retailer ASOS. The fund invests in founders who are women or people of color, and leans toward consumer-facing businesses with an innovative tech component. It will also consider B2B businesses and invests at both the early and growth stages. So far, Silvergate has backed companies such as Outfox, which makes alcohol-free wine, and Soda Says, which makes tech products and accessories for women. The fund is open-minded when it comes to geography: Companies in the U.K., U.S., China, India, Australia, and Europe are all fair game. The firm's website also has a good summary of stats when it comes to VC investing and gender in the U.K.

No.55

Sofia 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
Minneapolis, Minnesota
Year Founded
2006
Data as of Publication on Aug. 11, 2020
Company Description

Sofia Fund has invested about $10 million in 50 female-led companies and diverse founding teams since its inception in 1998--about half of which have exited. Sofia is now investing out of its second fund, which raised $5.5 million, and seeks out companies in IT, business products and services, and health and wellness. It receives 100 to 150 requests for funding each year. While Sofia is structured as a venture fund (not an angel network), its own investors are individuals rather than institutions. The fund's companies include Oculogica, which makes a technology for diagnosing traumatic brain injuries, and Cognition Therapeutics, which is pursuing treatment for Alzheimer's. Sofia was also an early investor in Tactile Medical, which went public in 2016.

No.56

SoGal 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
Location
New York, New York
Year Founded
2016
Data as of Publication on Aug. 11, 2020
Company Description

SoGal bills itself as the first female Millennial-led venture capital firm. SoGal's co-founder, Pocket Sun, got the idea for the fund after realizing that hardly any of the guest speakers at her entrepreneurship classes at the University of Southern California were women. She joined up with Elizabeth Galbut to create SoGal after the two participated in a venture investment program held by 500 Startups and Stanford University. At the time, Galbut was at work with A-Level Capital, a fund she started to connect students and alumni of her school with Silicon Valley investors. Now, SoGal invests in diverse founders in the U.S., Asia, and Europe, and aims to be the first institutional investor in its portfolio companies. The fund has invested in more than 50 startups, including subscription toy company Lovevery, medical testing company EverlyWell, and marketing technology company Motiva.