暗网吃瓜

New York-based closed on Fund III of $57 million to bring its total money under management to $95 million. The firm raised its first fund of $5 million in 2014. Its limited partners in the new fund include , , (founded by Melinda French Gates), , and the , along with notable CEOs , , and.

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We spoke with founder and partner , who acknowledged that 鈥渇rom a strategy perspective we’re remaining pretty consistent to fund one and two,鈥� with the 鈥渇ocus on seed as an asset class.鈥� The firm invests in female-founded companies and has 70 percent of its portfolio from fund III founded by a BIPOC, according to its most recent announcement.聽

With this larger fund, the firm plans to invest more dollars per deal — $750,000 to $1 million — and will increase its ownership. 鈥淥ur objective with this new fund is to continue to demonstrate that it is possible to achieve top-tier returns by investing in companies started by women,鈥� said Duggal.聽聽

The firm has done a 鈥渇airly prolific job thus far in digital health or the consumerization of digital health,鈥� said Duggal, noting investments in , , , and . With 鈥渢he decline in the role of religion there has definitely been an emergence of specific interest-based digital communities,鈥� she added. The firm has thus far invested in for modern motherhood, in astrology, and for the queer community.聽

The fund鈥檚 new areas of focus are workplace efficiency tools given work-from-home trends, education platforms and climate post-COVID.

Female investors and joined the fund in 2020 bringing the total count of investors on the team to three.聽聽

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