50 Women-Led Venture Capital Firms to Watch
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It’s no secret that the venture capital investments in the United States are made mostly by men and mostly for men. In 2022, 2.0% of VC dollars went to all-women founding teams. On the other side of the fence, around 16% of the VC decision makers are women and over 95% of firms have a male majority of decision makers.
Instead of dwelling on how far away parity seems, I want to celebrate the women who are working to change the VC world! Here are 50 venture capital firms led by women, with many focused on investing in diverse founders. Update: we got some requests for additions after this was initially published, so we are now up to 55 firms!
Acrew Capital is based in San Francisco, CA and was founded by Theresia Guow, Lauren Kolodny, Asad Khaliq, Mark Kraynak, and Vishal Lugani. The firm is focused on early-stage companies and the founders believe that “diversity of perspectives drive success.” The firm’s investment theses are Financial Services Rebuilt, Security & Privacy Modernized, Data Interconnected, Community Activated, and Web 3.0 / Crypto. A few portfolio companies include Plaid, Vanta, and The RealReal. Acrew Capital has raised over $1B for its various funds.
Amplifyher Ventures is based in New York, NY and was founded by Tricia Black. The firm is focused on early-stage companies with diverse leadership teams in the following spaces: commerce, care, and connectivity. Their commerce investments include companies such as Summersalt and Hill House Home. Their care investments include companies such as Oova and Droplette. Motherly and Pepperlane represent a few of their connectivity investments.
Array Ventures was founded by Shruti Gandhi and is based in San Francisco, CA. The firm is focused on investing in companies that seek to solve impactful problems using the best technology. The team at Array Ventures is proud of their network and uses it to help portfolio companies. Some of their investments include Almanac, Mapistry, and Leap. Array Ventures raised $56M for its latest fund.
The Artemis Fund is based in Houston, TX and is led by Stephanie Campbell, Leslie Goldman, and Diana Murakhovskaya. The firm’s key investment areas include Seed-stage companies in FinTech, E-CommerceTech, and CareTech, and they are focused on companies founded by women. A few of their portfolio companies include CNote, HelloDivorce, and NaborForce.
Atelier Ventures was founded by Li Jin and is based in Pittsburgh, PA. The firm looks for investments that drive the passion economy, especially companies that help monetize creativity. A few of their investments include Syndicate, Substack, and Patreon.
Augment Ventures is based in Ann Arbor, MI and was founded by Sonali Vijayavargiya. The firm invests in early-stage companies with diverse teams using data and digitization to transform traditional industries, particularly in Michigan and the Midwest. Some of their investments include Crowdz, RingoAI, and ConverSight.
Avid Ventures was founded by Addie Lerner and is based in New York, NY. The firm takes a very hands-on approach with its early-stage investments and looks for exceptional founders. Some of their investments include Alloy, Nova Credit, and Oyster. Avid Ventures has raised $72M for its first fund.
Backstage Capital was founded by Arlan Hamilton and is based in Los Angeles, CA. Arlan’s story is very inspiring; she was actually homeless before starting Backstage Capital. The firm invests in companies founded by women, people of color, or people who identify as LGBTQ. So far, Backstage Capital has invested in more than 200 companies, including Beautycon and Paladin. Backstage Capital has raised over $20M.
Basis Set Ventures is based in Menlo Park, CA and was founded by Lan Xuezhao. The firm’s investment focus area is Seed-stage artificial intelligence companies. Some of their portfolio companies include Rasa, Trendsi, and Ergeon. Basis Set Ventures has raised $301M for its various funds.
BBG Ventures is based in New York, NY, and is run by Susan Lyne and Nisha Dua. BBG focuses on early-stage companies in the commerce space, with at least one female founder. The firm’s investment theses include Health and Wellbeing, Future of Education and Work, Climate Friendly Products and Platforms, and Overlooked and Emerging Consumers. Their investments include Real, Zola, Glamsquad, Lola, Blueland, and Rocksbox, to name a few. BBG Ventures raised $50M for its most recent fund.
Cake Ventures was founded by Monique Woodard and is based in San Francisco, CA. The firm’s investment focuses include aging and longevity, the increased spending power of women, and the shift to majority-minority, mainly at the Pre-Seed and Seed stages. Some of their investments include Rares, Joshin, and Guaranteed. The firm has raised $17M for its first fund.
Chloe Capital is based in New York, NY and was founded by Elisa Miller-Out and Erica O’Brian. The firm backs women-led technology companies in the Seed stage. Chloe Capital also offers an on-demand impact investing course. Their portfolio includes investments such as Basepaws, ShearShare, and JourneyFoods.
Cleo Capital is led by Sarah Kunst and is based in San Francisco, CA. The firm’s key investment areas include Future of Income, Complicated Consumer (e.g., Consumer FinTech, LegalTech, InsurTech, Real Estate Tech & HealthTech), and Decentralized Enterprise at the Pre-Seed and Seed stage. A few of their investments include MasterClass, Easy Expunctions, and Planet Fwd.
Color Capital is based in Portland, OR and was founded by Jamie Schmidt and Chris Cantino. Prior to starting Color, Jamie and Chris founded Schmidt’s Naturals, which was eventually acquired by Unilever. Color invests in early-stage companies in the following industries: consumer goods, web3, marketplaces, and social commerce. The firm prioritizes underestimated founders, specifically women and people of color. Some of their investments include Clubhouse, Bubble, Haus, and Salt & Straw.
Construct Capital is based in Washington, DC and was founded by Dayna Grayson and Rachel Holt. The firm is focused on foundational industries for the real economy, such as construction, manufacturing, and mobility, that have been largely underfunded to date from a venture capital perspective. Some of their investments include Chef Robotics, Verve, and Telegraph. Construct Capital has raised $300M for its most recent fund.
Cowboy Ventures was founded by Aileen Lee and is based in Palo Alto, CA. The firm identifies its sweet spot as Seed-stage technology companies. Specifically, vertical AI, data privacy, tech infrastructure, developer tools, education technology, and digitally-powered new consumer brands are areas of focus. Some of their investments include Brit + Co, Dollar Shave Club, Chime, Vic.ai, and Mighty Networks. Cowboy Ventures recently raised $260M for its most recent funds.
Day One Ventures was founded by Masha Bucher and is based in San Francisco, CA. The firm invests in early-stage startups and leads their PR and communications. Some of their investments include Worldcoin, Truebill, and DuckDuckGo. Day One Ventures has raised $100M for its various funds.
Fearless Fund is based in Atlanta, GA and is led by Arian Simone and Ayana Parsons. The firm is focused on investing in companies led by women of color seeking Pre-Seed, Seed, or Series A funding. The fund is also very focused on mentorship for entrepreneurs. A few of their investments include HairBrella, Ellis Island Tea, and EnrichHer. Fearless Fund has raised $25M.
Female Founders Fund was founded by Anu Duggal and is based in New York, NY. The firm focuses on women-led companies in the following spaces: e-commerce, web-enabled products and services, marketplaces, and platforms. A few of their investments include Billie, Bentobox, and Maven. Female Founders Fund raised $57M for its most recent fund.
Fika Ventures was founded by Eva Ho and TX Zhuo and based in Los Angeles, CA. The firm invests in early-stage companies that leverage the power of data. This broad focus allows them to invest in a variety of industries. However, they are typically interested in enterprise software, FinTech, marketplaces, and digital health. Some of their investments include Atticus, Chowbus, SierraLabs, and Zentist. Fika Ventures has raised $312M for its various funds.
Forerunner Ventures was founded by Kirsten Green and is based in San Francisco, CA. The firm invests in companies that are “at the intersection of innovation and culture” in the commerce space. They have invested in an incredible list of innovative commerce companies: Away, Birchbox, Curology, Bonobos, Dollar Shave Club, Glossier, Hims & Hers, Draper James, Outdoor Voices, Zola, Ritual, and Warby Parker, to name a few. Forerunner Ventures has raised $2.2B, with $1B raised for its most recent fund.
f7 Ventures is based in San Francisco, CA and is led by Kelly Graziadei and Joanna Lee Shevelenko. The firm got its name from seven senior women operators who worked at Facebook prior to starting f7. Their investment focuses are in the Future of Work & Families, Mental & Physical Health, and Connected Communities. A few of their portfolio companies include Corvus Robotics, Fireflies.ai, and WorkWhile. f7 has raised $50M for its first fund.
GingerBread Capital is based in San Francisco, CA and was founded by Linnea Roberts. GingerBread Capital is focused on investing in the next generation of female entrepreneurs. They look for high-growth, scalable, and technology-enabled companies with differentiated business models. Some of their investments include Ellevest, theSkimm, and Zola.
Halogen Ventures was founded by Jesse Draper and based in Los Angeles, CA. They invest in early-stage consumer technology startups with a woman on the founding team. Their investments include companies such as AllVoices, Glamsquad, Beautycon, and Sugarfina. Halogen Ventures raised $21M for its most recent fund.
Hannah Grey is based in Boulder, CO and was founded by Kate Beardsley and Jessica Peltz-Zatulove. The firm’s focus area is “customer-centric founders redefining everyday experiences” at the Pre-Seed and Seed stage. A few of their investments include August, Upstream, and Credo Health. Hannah Grey has raised $52M for its first fund.
Haun Ventures was founded by Katie Haun and is based in San Francisco, CA. The firm focuses on web3 investments, from the early stage to growth stage. Some of their portfolio companies include Aptos, thirdweb, and TaxBit. Haun Ventures has raised $1.5B for its first fund, setting a record for a debut fund by a woman.
The Helm is based in New York, NY and is led by Lindsey Taylor Wood, Julie Weber, and Olivia Fleming. The firm invests in early-stage companies using technology to solve difficult problems and that have at least one female founder. Some of their investments include Haute Hijab, Mahmee, and Venus Aerospace. The Helm’s $25M second fund is currently open for investment.
Illuminate Ventures is led by Cindy Padnos and Jennifer Savage and is based in San Francisco, CA. The firm focuses on Seed stage companies in the B2B enterprise cloud and mobile computing space. Their investments include software companies such as Contentstack, Hoopla, and Influitive. Illuminate Ventures raised $27M for its most recent fund.
Inspired Capital is based in New York, NY and was founded by Alexa von Tobel and Penny Pritzker. The firm backs “founders with transformative ideas, brilliant teams, and relentless determination” in the Seed and Series A stages. Some of their portfolio companies include Zaya, Paytient, and Chief. Inspired Capital has raised $281M for its most recent fund.
January Ventures is based in Boston, MA, and was founded by Jennifer Keiser Neundorfer and Maren Thomas Bannon. They believe in making venture capital more accessible and transparent. The firm invests in highly scalable technology companies that are changing the future of work and health. A few of their investments are Blendoor and Oula Health. January Ventures raised $21M for its most recent fund.
Kapor Capital was founded by Mitch Kapor and Freada Kapor Klein and is currently led by Ulili Onovakpuri and Brian Dixon. The firm is based in Oakland, CA and focuses on companies with diverse leadership and investments that improve societal outcomes for underrepresented populations. A few of their investments include Oula Health, Planet Fwd, and Asana. Kapor Capital has raised $126M for its most recent fund.
Magnetic Ventures was founded by Christine Aylward. The firm is focused on life sciences and healthcare investments. Some of their portfolio companies include TransitionBio, SameSky Health, and Deep Genomics.
Mendoza Ventures is led by Adrian and Senofer Mendoza, and is based in Boston, MA. The firm’s investment focus areas are in FinTech, AI, and Cybersecurity, across both early-stage and growth-stage companies. Around 75% of their portfolio consists of startups led by immigrants, people of color, and women. Their investments include companies like Senso, Wabbi, and Finch. Mendoza Ventures has raised $100M for its most recent fund.
Merian Ventures is based in San Francisco, CA, and run by Alexsis de Raadt St. James. The firm is focused on investing in early-stage, women-led, technology companies, specifically in the cyber, blockchain, artificial intelligence, and machine learning spaces. Their investments include companies such as Honeycomb, Pivigo, Provenance, Populus, ImpactVision, Compaas, and Cirrus Identity.
Moxxie Ventures was founded by Katie Jacobs Stanton and is based in Boulder, CO. The firm looks for exceptional founders across several industries: Consumer, Enterprise, FinTech, HealthTech, and Climate. Some of their investments include Carta, Clubhouse, and Elpha. Moxxie Ventures has raised $150M for its various funds.
New Money Ventures is led by Jaclyn Johnson and Neha Kumar and is based in Los Angeles, CA. The firm is focused on women-led, high-growth consumer brands and businesses. A few of their investments include Crown Affair, Frame Fitness, and Deux. New Money Ventures has raised $20M for its first fund.
Overlooked Ventures is based in Columbus, OH and was founded by Janine Sickmeyer. The firm invests in entrepreneurs that are traditionally overlooked; they are focused on Pre-Seed and Seed stage investments that improve humanity, wellness, or in industries with low innovation to date. Some of their portfolio companies include College Cash and Femly.
Owl Capital is based in Palo Alto, CA and is led by Jennifer Scott Fonstad. Owl Capital believes in the power of diversity, with over 80% of their portfolio founders having a diverse background and almost 40% female founders. They have also committed to donating $1M to the communities where their founders live and work. Their investments include companies like Balena, Chime, Ellevest, and Socrates.ai.
Portfolia was founded by Trish Costello and based in San Francisco, CA. Portfolia takes a community approach to its investments with the goal of empowering women to make investments in companies that have the potential for both high impact and high returns. Some of their funds include the Femtech Fund and the Active Aging & Longevity Fund. Some of their investments include Everly Health, Full Harvest, and Maven.
Reach Capital is based in San Francisco, CA and was founded by Jennifer Carolan, Shauntel Garvey, Wayee Chu, and Esteban Sosnik. The firm is focused on investments that improve education and economic opportunity. A few of their portfolio companies include ClassDojo, Handshake, and Coder House. Reach Capital has raised $300M for its various funds.
Renegade Partners was founded by Renata Quintini and Roseanne Wineck and is based in San Francisco, CA. The firm invests at what it describes as the “supercritical stage” in between Series A and C when companies are expanding their team and preparing to scale. Some of their investments include Spekit and Argent. Renegade Partners has raised $100M for its first fund.
Rethink Impact is an impact-based venture capital firm (the largest in the US, in fact) with offices in Washington, DC, San Francisco, CA, and New York, NY. The firm invests with a gender lens in companies that are using technology to solve some of the world’s biggest problems, such as healthcare, economic empowerment, environmental sustainability, and education. Rethink Impact was founded by Jenny Abramson. A few of their investments are EverFi, Neurotrack, and Ellevest. Rethink Impact has raised $292M for its various funds.
Serena Ventures is based in San Francisco, CA and is led by Serena Williams and Alison Rapaport Stillman. The firm leverages a champion mindset and a global network of leaders in its approach. A few of their investments include Juno, Fiveable, and Chatdesk. Serena Ventures has raised $111M for its inaugural fund.
Social Impact Capital is based in New York, NY and was founded by Sarah Cone. The firm invests in “innovative and impactful solutions to the world’s most pressing challenges” across industries such as DeepTech, BioTech, FinTech, Blockchain, Consumer, B2B, and HealthTech. A few of their investments include Totus Medicines, OpenInvest, and Topl. Social Impact Capital has raised $42M for its first fund.
SoGal Ventures prides itself on being the first female-led millennial venture capital firm. It was founded by Pocket Sun and Elizabeth Galbut and is based in New York, NY. They are focused on companies with diverse founding teams in the US and Asia who are working to shape the future of how people work, live, and stay healthy. They have invested in companies such as Everlywell, Little Spoon, and Winky Lux.
SteelSky Ventures is based in Atlanta, GA and is led by Maria Toler Velissaris and Casey Albert. The firm invests in companies that improve womens’ healthcare outcomes. Some of their investments include 23andMe, Mae, and Joylux.
Supernode Ventures was founded by Laurel Touby and is based in New York, NY. The firm invests in companies that improve the way people live, work, and socialize, with a concentration on healthtech. Some of their portfolio companies include Allocate, Endometrics, and New Age Meats. Supernode Ventures is currently launching a $50M second fund.
Urban Innovation Fund is based in San Francisco, CA, and was founded by Clara Brenner and Julie Lein. The firm provides Seed funding and regulatory support to companies shaping the future of cities. They invest in the following industries: transportation, energy and water, real estate technology, the future of work, business services and FinTech, health and public safety, GovTech and civic technology, and food systems. A few of their investments include curbFlow, Milk Stork, and Codi. Urban Innovation Fund has raised $121M for its most recent fund.
Visible Ventures is led by Lori Cashman and Suzanne Norris and is based in Boston, MA. The firm is focused on consumer-facing companies with bold, diverse founding teams and women in leadership roles. Some of their investments include Droplette, Rae, Daily Harvest, Summersalt, Blume, and Werklabs. Visible Ventures has raised $22M for its most recent fund.
Vitalize Venture Capital was founded by Gale Wilkinson and is based in Chicago, IL. The firm invests in Pre-Seed and Seed stage companies in the future-of-work space. A few of their portfolio companies include Suma, WeeCare, and AllVoices. Vitalize has raised $35M for its second fund, and also has a community of angel investors.
Worklife Ventures was founded by Brianne Kimmel and is based in San Francisco, CA. The firm is focused on companies in the future-of-work space, typically with technical founding teams. A few of their portfolio companies include Webflow, Hex, and Stability.ai.
The WXR Fund is based in San Francisco, CA and was founded by Martina Welkhoff and Amy Lameyer. The firm invests in early-stage companies at the intersection of next-gen computing and women founders. Some of their investments include Embodied Labs and ALL3D.
Zane Venture Fund was founded by Shila Nieves Burney and is based in Atlanta, GA. The firm invests in technology companies with diverse founders and early traction, with a focus on the Southeast and underfunded regions. Some of their portfolio companies include Lillii RNB, OME Kitchen, and GoCoach.
11.2 Capital is based in San Francisco, CA, and was founded by Shelley Zhuang. The firm’s investment focus is on companies solving problems with technology, specifically: AI, cybersecurity, quantum, robotics, new space, data-driven healthcare, and climate tech. A few of their investments are TigerGraph, White Ops, and Avaamo. 11.2 Capital has raised $50M.
1843 Capital was founded by Tracy Chadwell with offices in New York, NY and Washington, DC. They focus on early-stage technology companies and tech-enabled companies in AgeTech and Longevity, as well as FinTech and CyberSecurity. 1843 Capital advocates for gender equity and diverse founder teams. They have invested in companies such as Custodia, Rippl Care, and HopSkipDrive. 1843 Capital has raised $13M.
I don’t know about you, but I can’t read about these amazing women without getting inspired and feeling more hopeful for the future. If you’re as interested in venture capital as I am, then I’m sure you’ve heard about many of these firms, but I hope I showed you some new ones, too!