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.
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.
Springboard Growth Capital
Springboard Enterprises has long been an accelerator that works to improve access to institutional equity capital for women entrepreneurs. Until 2016, though, Springboard didn't invest in its member companies directly. That's when Springboard Growth Capital debuted, designed to fund the entrepreneurs Springboard knows best -- those who have been through its accelerator program, raised early money, have continued to grow their companies, and now need additional capital to scale that growth. The fund is led by Kay Koplovitz, the founder of USA Networks, and Amy Rosen Wildstein. Its investments include ClassPass, which provides a monthly subscription allowing customers to work out at a variety of gyms and studios, and luxury reseller TheRealReal.
Founded in 2017, StandUp Ventures looks for women-led tech companies across Canada in need of seed-stage to Series A funding. The fund is the brainchild of Michelle McBane, a senior investment director at MaRS, a Toronto incubator that hosts more than 6,000 people daily. StandUp is especially interested in enterprise software, digital health, and cleantech. The fund has invested in Bridgit, a jobsite communication platform for the construction industry; and Sampler, which helps companies manage the online distribution of product samples.
Texas Women Ventures
Texas Women Ventures is exactly what it sounds like: A venture firm that invests in women-owned companies in Texas and the Southwest. They've been at it since 2005, with more than $25 million under management. This is growth-stage money: TWV wants to see revenue of at least $10 million. TWV tries to come up with financing structures that let the entrepreneur retain majority ownership and control of the company. In 2014, TWV closed on its second fund, raising $14 million. Its investments include J.O.Y. Foods and Rolland Safe & Lock.