We have been working on a new initiative that we are excited to launch today: XFactor Ventures. Behind the leadership of my partners, Kate Castle and Chip Hazard, we have created a $3 million micro-seed fund to invest $100,000 in 30 female-led pre-seed/seed startups.
My partner, Chip, explains the motivation behind the fund here. In short, we are determined to make a small dent in the gender gap in venture capital, something I have been writing a lot about over the years (here and here, for example). Writing about something and doing something are two different things.
XFactor Ventures is not affirmative action. We are profit-driven capitalists and we see an unmet market need. We are backing female founders who are pursuing billion-dollar opportunities in partnership with an amazing team of world-class entrepreneurs who have raised over $150 million, who happen to be women.
Are you a female founder with the XFactor? Find us online at XFactor.ventures, follow us on Twitter or reach out via email to firstname.lastname@example.org.