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New Seed Venture Fund Targets Women-Led Businesses

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Women entrepreneurs can now enjoy venture funding from successful women venture capitalists. The innovative XFactor Ventures says it is about making a difference for the next generation of female-led businesses.

XFactor Ventures, backed by Flybridge Capital Partners, is planning to support women technology start-ups with a $3 million fund. Top women executives from Bow & Drape, The Muse, Bitnami and inDinero are there among the innovative capital funders.

Anna Palmer, Co-Founder and CEO of Wondermile, took an initiative to launch a fund for women. Other investment partners are Aubrie Apagano, Co-Founder and CEO of Bow and Drape, Danielle Morrill, Co-Founder and CEO of Mattermark, Erica Brescia, Co-Founder and COO of Bitnami, Jessican Mah, Co-Founder and CEO of InDinero, Liz Whitman, Co-Founder of Manicube, Ooshma Garg, CEO and Co-Founder of Gobble. Kate Castle, Marketing Partner of Flybridge Capital Partners and Kathryn Minshew, Co-Founder and CEO of The Muse will be the operating partner at XFactor.

Venture supported companies have been in the male dominated environment. According to Chip Hazard of Flybridge, there are only seven percent of women as partners at the top venture firms. Hazard will be the lone male investor in XFactor.

XFactor plans to fund companies in New York, Boston, San Francisco, etc. and that too with a female founder, who has the insight and drive to build the next billion dollar company. The fund will provide mentor-ship, capital, and advice.

Statistics show that all women founders received only $1.46 billion venture capital fund last year, compared to $58.2 billion by male entrepreneurs.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

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