Posted by Deepshikha Shukla
November 8, 2021 | 2-minute read (401 words)
The Fund, which describes itself as an organization of founders and operators dedicated to investing in local entrepreneurs, has created an angel investment fund dubbed Fund XX that focuses on female entrepreneurs.
Fund XX aims to create a community of women investors and entrepreneurs who will invest in the pre-seed and seed ecosystem in support of female-led startups. “Today, less than 3% of VC funding goes to women, and 65% are less likely to get funded at the early stage,” said Fund XX general partner Gabriela Isturiz, adding that only 12% of venture capital decision-makers are women.
Isturiz, founder of eBillingHub and Bellefield Systems, co-founded The Fund XX with Hanaco Ventures’ Allison Stoloff, JumpCloud Vice President of Revenue Sylvia Kuyel and Affirm Vice President of People Ragini Holloway.
Fund XX is unique in that it directly confronts multiple pain points of a male-dominated entrepreneurial ecosphere. The community behind it not only invests but also brings extensive experience, capital and resources from former and current founders and operators to women-led companies.
While the amount raised by Fund XX has not been divulged, $5 million is its target close. Some 90% of its investors are women, consistent with the community’s vision of bringing more female-focused funds to fruition. Target investment companies are not only female-led and founded, but they must also be “venture-backable and tech-enabled,“ co-founder Allison Stoloff said.
Founders need capital the most at their early and seed stages. Fund XX is poised to help women entrepreneurs by issuing initial checks ranging from $50,000 to $100,000, or by leading a round for founders raising $250,000 or $500,000 and then finding other investors, said Isturiz. The founders of Fund XX are prepared to invest in any tech-enabled company with scalable infrastructure, provided it can also solve a problem in a larger market, she added.
"We believe that within one year, The Fund XX can become one of the most active female-focused venture capital funds and drive superior investment returns for our investors,” said Jenny Fielding, former Techstars managing director and among the founders of The Fund Global.
The Fund Global is a community of 500 founders and operators investing in mission-driven, technology-enabled companies at the earliest stages. It launched in 2018 with the intent of combining capital, resources, expertise and networks to bring a community-style approach to angel investing. The Fund has invested in 140 companies so far.