Company Profile

No.65

WE Venture

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
2019
Data as of Publication on Aug. 11, 2020
Company Description

WE Ventures is a collaboration between New York City's economic development corporation and five financial partners: Archer Gray, Future/Perfect Ventures, Golden Seeds Venture Fund, WOCstar Fund, and the Multicultural Innovation Lab at Morgan Stanley. WE Ventures is designed to support New York City tech startups that are founded by women and minority entrepreneurs and is part of New York's Women.nyc initiative, which connects women with resources such as free legal advice, networking, and mentorship opportunities. To form the fund, the EDC is putting in $10 million, and the finance partners are together contributing another $20 million, with the total to be invested over five years. The finance partners are also responsible for deal flow, and will identify and evaluate the companies that the fund will invest in. 

No.66

XFactor 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
Boston, Massachusetts
Year Founded
2017
Data as of Publication on Aug. 11, 2020
Company Description

XFactor Ventures is a fund from Flybridge Capital that looks to make pre-seed investments of about $100,000 in each of 30 women-led companies. It was started by Chip Hazard and Kate Castle, both partners at Flybridge. The duo recruited a handful of female founders to actually run the fund, including Kathryn Minshew, co-founder and CEO of the Muse, and Erica Brescia, co-founder and COO of Bitnami. Flybridge contributed 20 percent of the money for the fund, with high-net-worth individuals and the entrepreneurs recruited to run the fund putting in the rest. So far XFactor has invested in Courtbuddy, which matches consumers with solo attorneys; Chief, a private network for women executives; and financial planning company the Beans. XFactor isn't positioned to make follow-on investments, but the hope is that some of the companies backed by XFactor will eventually find their way to Flybridge.

Update: In May 2019, XFactor announced the formation of its second fund, which will invest about $8 million in about 50 companies, and have about two dozen venture partners. All of the venture partners, with the exception of Hazard, are women entrepreneurs who have raised at least a Series A round or made similar progress with a boostrapped company.

No.67

Women Nation 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
Beverly Hills, California
Year Founded
2018
Data as of Publication on Aug. 11, 2020
Company Description

The live music industry, says Carrie Davis, the chief communications officer for Live Nation, is particularly inhospitable to women, and to women entrepreneurs. "They face so many issues because they’re on the road constantly," says Davis. "If you're the road manager for U2, you're touring for two years without a stop. How do you raise a family?"

Yet Live Nation is built on those successful promoters and their companies. "Those businesses have become our foundation," Davis says. "That is sort of the center of power here." Davis says Live Nation has done all sorts of things to help more women to be successful in the industry, including paying for them to travel with their babies and a caretaker on business.

In 2018, Live Nation formed the Women Nation Fund, which Davis runs. The goal of the fund is to invest in women entrepreneurs in the live entertainment industry, and to help their companies grow to the point where they could be partners or acquisitions for Live Nation.

Davis defines live entertainment broadly. Her fund could invest, hypothetically, in a ticketing platform, a yoga festival, or a food and beverage company. "It can be tech, it can be consumer-facing," says Davis. "Or something that creates a better fan, brand, or back-end experience." Women Nation Fund makes seed and series A investments, and will do follow-on investing for its companies. Check sizes have ranged from $100,000 to $1 million. Women Nation Fund’s portfolio companies currently include Tina Farris Tours, a touring management company; Conscious City Guides, a ticketing platform; and events company Kingdom of Mind.

No.68

WomensVCFund II

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
Portland, Oregon
Year Founded
2012
Data as of Publication on Aug. 11, 2020