Female Founders Fund Targets $75M for Fourth Investment Fund
Female Founders Fund (FFF), a pioneering venture capital firm focused on women-led startups, has filed with the SEC to raise $75 million for its fourth fund. This marks FFF’s largest fundraising target to date, signaling growing momentum for gender-diverse entrepreneurship.
A Growing Commitment to Women in Venture Capital
- Fund I (2014): $6 million
- Fund II: $25 million
- Fund III (2021): $57 million (oversubscribed)
- Fund IV Target: $75 million
With this new fund, FFF’s assets under management would surpass $150 million, solidifying its position as one of the largest early-stage funds dedicated to female founders.
Addressing the Gender Funding Gap
FFF’s mission remains critically relevant as:
- All-women founding teams receive just 2% of venture capital annually
- Black women founders secure less than 1% of total VC funding
- Mixed-gender teams are seeing modest funding increases
“Our third fund demonstrated strong commitment to women of color, with investments ranging from \(750,000 to \)1 million,” said Anu Duggal, FFF’s founding partner. “Given the persistent funding disparities, we anticipate maintaining this focus with Fund IV.”
Investment Focus and Portfolio Highlights
FFF supports innovative startups across diverse sectors:
- Climate tech
- Healthcare innovation
- Generative AI
- Science-backed lifestyle companies
Notable portfolio companies include:
- Co-Star (astrology app)
- Peanut (healthcare platform)
A Bright Spot in Challenging Times
This fundraising effort comes during a notable trend:
- 2023 has seen increased funding for women-led firms despite broader VC slowdown
- Growing LP pressure to support diverse founders
- Continued need for specialized funds addressing gender disparities
As the venture landscape evolves, FFF’s latest fund represents both a milestone for women entrepreneurs and a test of the investment community’s commitment to diversity. The success of this raise will serve as a key indicator of progress in closing the gender funding gap.
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