2023: The biggest stories in FemWealth
Year in Review 2023
2023: The biggest stories in FemWealth
In 2023, FemWealth covered 800+ women-led startup funding rounds (from family & friends investments to Series E) and 100+ VC fund launches across the globe. Here are some of the biggest stories of 2023:
Led by Fidji Simo (a former Facebook executive), US grocery delivery technology company Instacart went public on the Nasdaq in September.
Instacart © Founded and led by CEO and Chairwoman Gina Bartasi, Kindbody, a US-based tech-driven fertility clinic network and family-building benefits provider for employers, raised $100M.
Co-founded by Dr. Lourdes Agapito, Synthesia, a Generative AI video platform reached unicorn status after raising a $90M Series C round.
Co-founded and led by May Habib, San Francisco-based AI startup Writer secured a $100M Series B round (at a $500+M valuation)
Co-founded and led by Dana Settle, Greycroft, a US ‘seed-to-growth’ VC firm, raised $980M across two new flagship funds.
Co-founded and co-led by Mar Hershenson, Pear VC, a Palo Alto, California-based early-stage venture firm, raised its fourth fund with $432M in capital commitments.
Bay Area-based Cowboy Ventures, led by Aileen Lee raised $260M in capital commitments across two funds.
Kara Nortman and Jasmine Robinson launched Monarch Collective, a new growth equity investment firm focused on women’s professional sports. and secured $100 million for its inaugural fund.
Led by co-founder and Managing Partner Kerry Baldwin, IQ Capital, a London and Cambridge, UK-based VC firm, closed its fourth flagship fund with $200M in capital commitments.
London-based Seedcamp, led by co-founder and managing partner Reshma Sohoni raised a $180M Fund VI.
Paris-based Revaia led by Alice Albizzati and Elina Berrebi held a €150M first close of their second fund.
German early-stage VC La Famiglia, co-led by General Partners Jeannette zu Fürstenberg and Judith Dada merged with US VC firm General Catalyst.
In Europe, first-time female-led funds successfully raised in one of the most challenging market environments. Berlin-based Planet A, co-founded by Lena Thiede, closed its first fund at €160M to back climate tech companies across Europe and Israel. Gloria Bäuerlein, a Berlin-based VC turned operator turned angel investor launched Europe’s first female solo GP fund, Puzzle Ventures, after raising €21.5M, nearly double the size she originally aimed for. Solo GP Annelie Ajami, launched Anamcara to invest in early-stage B2B SaaS startups. Angel investor and ex-Googler Sarah Drinkwater’s solo GP fund Common Magic announced a first close. Entrepreneur Bénédicte de Raphélis Soissan launched Emblem. Co-founded by three female partners - Eleanor Blagbrough, Clare Murray, and Michelle Capiod - Blume Equity announced that it secured €40M in capital commitment from EIF. Operator Anke Huiskes started NP-Hard Ventures and closed its debut fund.
In the US, emerging fund managers established new venture firms across various sectors. Founded and led by Zoey Dash McKenzie, Public Ventures launched a $100M impact fund aimed at “improving health equity and supporting climate preparedness for underserved communities.” Monique Woodward launched Cake Ventures, a US-based pre-seed and seed-stage firm with $17M in capital commitments for its debut fund focused on ‘Demographic Change’. Raquel Filmanowicz and Jennifer Abele launched VC 414 to invest in startups founded by women and other entrepreneurs who historically have been undercapitalized in the industry. Co-founded and co-led by general partner Jenna Bryant, Embedded Ventures launched its debut fund with a target of $100M to invest in commercial, national security, and space startups. Founded by Carli Sapir, US-based Amboy Street Ventures closed its first fund at $20M to invest in women’s health and sexual wellness for all genders. Overwater Ventures, led by Kristina Simmons (ex-a16z, Khosla Ventures) raised $20M for its debut fund to support founders commercializing science and technology for human and planet health. Co-founded by Managing Partners Shayna Harris and Noramay Cadena, Supply Change Capital launched its debut fund with $40 million in capital commitments to target investments in the global food industry. Co-founded by Laura Deming (founder of The Longevity Fund), age1, a San Francisco venture capital firm specialising in longevity biotech, launched with an initial closing of $35M.
Across the globe: Anna Raptis, launched Mexico-based venture capital firm Amplifica Capital. Veteran investor Janet Bannister’s Canada-based Staircase Ventures completed the raise of its first fund with more than $34 million in capital commitments.
Notable Women’s Health startup that raised funds: Co-founded and led by Dr. Mridula Pore, London-based Peppy secured $45M in Series B funding to expand its B2B2C health services platform to the US. Kristen Helton’s Herself Health raised $26M in Series A to provide primary care to women 65 and over, in the US. Oula, a US modern maternity clinic co-founded by Adrianne Nickerson (CEO) and Elaine Purcell (COO), raised a $19.1 million Series A. Oriana Papin-Zoghbi's AOA Dx Raises $17M to fund ovarian cancer diagnostic test. Co-founded and led by Cécile Brosset, Sonio, a Paris-based AI-powered prenatal screening solution that automates ultrasound reporting, raised $14M. Rachel Blank’s Allara raised a $10M Series A to support women with chronic hormonal conditions.