The Billion Dollar Fund for Women secures $1b in pledges

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The Billion Dollar Fund for Women (TBDF), a global consortium of venture funds tackling the gender funding gap, has reached its goal of mobilizing $1 billion in pledges, according to a statement.

The consortium was created to mobilise capital to invest in women-founded companies within the next decade.

A total of over 70 funds from six continents and over 25 countries have so far pledged to deploy capital towards women-founded companies by 2020, equating to a total of $1 billion.

“Today marks a great milestone on our journey to ensuring parity for undervalued founders. We are extremely proud of the meaningful commitments made by our partner venture funds dedicated to fostering equitable access to funding for women-founded companies. Fund partners from all around the world have pledged their support to a common purpose: backing and scaling innovative companies with female founders,” said TBDF co-founders and managing partner Shelly Porges.

“The over one billion dollars pledged to be invested through the end of 2020 will have a decisive impact on not only the female economy but the economy at large, even as it delivers outsize returns for investors,” she added.

TBDF acts as a consortium of venture funds with each venture fund retaining its independence and managing and sourcing its own deal flows to fulfill the pledges made to invest in women-founded companies (WFCs).

The consortium also parters with The Financial Alliance for Women, the only global consortium of financial institutions dedicated to supporting its members to capture the opportunity of the Women’s Market.

Supporters of the fund are Different Funds, Endeavor Catalyst, Gobi Partners, Golden Gate Ventures, Golden Seeds Fund, Mindshift Capital, Rethink Impact and Teja Ventures, government-backed entities such as Singapore’s SGInnovate and newer additions including Astia Fund and Motley Fool Ventures in the US, Aster, RED Capital and Espira in Europe, Cycle Capital, Loyal VC, Marigold Capital, MaRS Catalyst and Quantius in Canada and many others.

Recently, we had reported that Valhalla Private Capital, a Canada-based early-stage investor, is targeting to raise a $25-50 million fund focused on female-led startups based in Southeast Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.