60 Top Women-led Venture Capital Firms

While women entrepreneurs are making significant strides in startup formation, they continue to struggle to gain access to funding on par with men.? But progress is being made as seen in the rising number of women-led venture funds that focus on funding women entrepreneurs.

Data Reveals Women Entrepreneurs Gaining Ground

On the startup side, according to the 2024 Wells Fargo Impact of Women-Owned Business Report,?between 2019 and 2023 women-owned businesses grew at nearly double the rate of those owned by men which was exceeded during 2022 to 2023, reaching 4.5 times.

In addition, Crunchbase reports that women-founded venture firms in the U.S. raised approximately $7 billion in 2021, up 59% year over year.? Female-founded venture firms have shown strong support for female-founded startups accounting for 28% of their deal counts?from 2016 to October 2021 in startups with at least one female founder.? In contrast, male-only founded U.S.?venture firms allocated only?22% of their deals?to female-founded startups.

According to the PitchBook data, in 2022 U.S.-based?startups with “all-women teams” received just 1.9% (or around $4.5 billion) out of approximately $238.3 billion of total venture capital. This was a drop from the 2.4% that all-women teams raised in 2021—with the decline attributed to the poor economy. ?

However, another statistic gives greater insight into the male-female battle for funding.?The percentage of funds raised?dramatically increases when the founding team is of mixed gender, going from 1.9% of all VC funds raised in 2022 to 17.2%—seen as part of a decade-long trend.

List of 60 Top Women-led Venture Capital Firms

The following includes venture funds founded by women or those that have a focus on funding women-founded or gender-mixed startups and early-stage companies.

Acrew Capital, founded by Theresia Gouw , Lauren Kolodny , Mark Kraynak , Asad Khaliq , and Vishal Lugani in 2019

Amplifyher Ventures: founded by Tricia Black , General Partner, the focuses on diverse leadership teams with a unique ability to create flywheel effects of growth in new markets.

The Artemis Fund: founded by Leslie Goldman Tepper , the firm leads seed rounds for diverse tech founders with wild ambition in fintech, commerce, and care building the economy of the future.

Aspect Ventures: co-founded in 2014 by Theresia Gouw and Jennifer Scott Fonstad , the early-stage venture firm uniquely focuses on bridging the funding gap between angels and the larger multi-stage VC platforms through collaboration and diversity.

Astia: founded by tech pioneer Catherine Muther ?in 1998, the firm is now led by Sharon Vosmek , CEO and Managing Partner. Investments are made in high-growth companies with women leaders, following their successful completion of the firm’s Expert Sift? process. Astia Edge which invests in exceptional seed stage companies led by Black and LatinX women through an evergreen fund backed by our Corporate Partners

Avestria Ventures: co-founded by Managing Partner Linda Greub, CFA, MBA , the firm invests in women’s health and female-led life science ventures.

Avid Ventures, founded by former?General Catalyst?principal Addie Lerner and joined by founding investor Tali Vogelstein, previously an investor at?Bessemer Venture Partners.

Backstage Capital: founded by Arlan Hamilton , Managing Partner, the firm invests in the very best founders who identify as women, People of Color, or LGBTQ.

BBG Ventures: co-founded by Managing Partners Susan Lyne and Nishua Dua, the early-stage fund focuses on consumer internet and mobile startups with at least one female founder.

Beta Boom: founded in 2017 by two veteran Silicon Valley innovators, Kimmy Paluch and Sergio Paluch the firm invests in pre-seed software startups that are building the future for womxn, Black, Latinx and other ethnic minority consumers. 90% of their funded startups are led by women or people of color.

Bumble Fund: Whitney Wolfe Herd founded Bumble in 2014 and the fund was launched four years later, investing in businesses founded and led by women of color and those from underrepresented groups.

Capita3: co-founded by Pamela York and Sara Russick with a focus on early-stage venture capital fund investing in women startup founders in innovative health sectors such as digital health, telehealth, health tech, human health, genomics and bioIT, food-as-medicine, and other health sectors.

Chloe Capital: co-founded by Managing Partner Elisa Miller-Out , the firm invests in seed-stage companies with a focus on those that are women-led.

Construct Capital, co-founded by Dayna Grayson previously at NEA and Rachel Holt , a past Uber executive.

Cowboy Ventures: founded by Aileen Lee , the firm invests in US-based, software-oriented companies as co-leading or leading seed rounds in a round of $1-5 million.

Coyote Ventures: Jessica Karr launched Coyote Ventures in 2021 to address the $1T opportunity in women’s health and wellness that has been historically marginalized.?

DigitalDX: is a majority woman-owned impact fund investing in early-stage health technology companies that deliver innovative solutions using artificial intelligence (AI) to better diagnose and treat illness. More than half of the portfolio companies have women founders or women in the C-suite.

DivInc: has a mission to generate social and economic equity through entrepreneurship. Launching a strategic partnership with Equity Ventures Fund to provide pre-send funding to Divinc portfolio companies.

DYVVYD: work with diverse teams who are actively seeking capital that are self-launched, self-scaled or recent graduates of an incubated or accelerator cohort.

Elevate Capital: founded by Nitin Rai in 2016 as the nation’s first institutional venture capital fund specifically targeting investments in underrepresented entrepreneurs, such as women and BIPOCs, or those with limited regional access to capital and opportunities.

Emmeline Ventures: co-founded by La Keisha Landrum Pierre , Naseem Sayani (she/her) , and Azin Radsan van Alebeek , it brings together a group of investors committed to investing in and serving as catalysts for new, emerging founders & businesses. Focus is on female founders building game-changing businesses that empower women in the area of managing women’s health, build their wealth and contribute to a cleaner, safer world.

Fearless Fund: invests in women of color-led businesses seeking pre-seed, seed level, or series A financing, bridging the gap between venture capital funding for women of color founders to build scalable, growth-aggressive companies. Fearless Fund is built by women of color for women of color.

Female Founders Fund: founded in 2018 by Anu Duggal with a focus on female-led early-stage companies, becoming the leading source of institutional capital for female founders raising seed capital with over $3B in enterprise value.

Fika Ventures, co-founded by Eva Ho and Tianxiang (TX) Zhuo , raised a $160 million fund 3 and a $35 million opportunity fund.

Forerunner Ventures: Based in Silicon Valley-based the venture capital firm was founded by Kirsten Green who has a diverse support team, focusing on e-commerce and direct-to-consumer brands. They invest in companies that are disrupting traditional retail and consumer experiences.

GingerBread Capital: founded by Linnea Roberts with an investment focus of women founders and entrepreneurs leading high-growth businesses.

Golden Seeds: co-managed by Jo Ann Corkran and Loretta McCarthy , Co-CEOs and Managing Partners. Angel and venture capital investments are made into women entrepreneur-led companies.

Greycroft Partners: co-founded by Managing Partners Dana Settle and Ian Sigalow with a focus on early-stage companies in technology and media. The broad portfolio includes companies disrupting traditional markets.

Harlem Capital: a venture capital firm comprised of a group of diverse investors with the mission to change the face of entrepreneurship by investing in 1,000 diverse founders over 20 years.

Halogen Ventures: based in Los Angeles and was founded by Jesse Draper with a focus on early-stage investing in consumer technology and strategic B2B software companies with a female in the founding team. She is an advocate for investing in women and using technology and innovation to solve some of the formidable challenges women face and their families.

HearstLab: led by Eve Burton , Chairwoman of HearstLab and Executive Vice President of Hearst, the firm provides cash investment and services to early-stage women-led tech-enabled startups in North America and Europe.

How Women Invest: co-founded by Julie Castro Abrams , Heather Jerrehian , and a group of women investors with a focus on healthcare, analytics, communities.

Hypatia Capital: is a private equity firm founded by Patricia Lizarraga and focuses its investments on women in leadership in all asset classes.

Inspired Capital Partners, founded in 2019 by Alexa von Tobel , sole founder of LearnVest, and Penny Pritzker , the former U.S. Secretary of Commerce.

Intel Capital Diversity Initiative: founded in 2015 with the commitment to support changemakers and diverse teams, pledging to invest $125 million over 5 years in startups led by underrepresented minorities, including women, Black, Latino, U.S. military veterans, LGBTQ+, and the permanently physically disabled.

The JumpFund: co-founded in 2014 by Cory Allison , Kristina Montague , and Shelley Prevost, EdD, LPC, BCC with the mission to invest women’s capital in female-led companies in the Southeast.

JumpStart Focus Fund: invests seed capital in tech-based companies led by female entrepreneurs and entrepreneurs of color throughout Ohio and those willing to re-locate.

LDR Ventures: Maxine Kozler is co-Managing Partner, as the female leading role in the VC and consulting firm, having a focus on diversity and inclusion with an emphasis on early-stage female and underserved founders as the Seed & Series A Stages.

Mendoza Ventures: based in Boston as a women-owned and first LatinX-owned venture fund on the East Coast. The firm is run by husband and wife Adrian Mendoza and Senofer Mendoza , entrepreneurs and prior operators who are veterans of the Boston start-up ecosystem.

Mergelane?is a venture capital firm co-founded by CEO, Sue Heilbronner . The firm focuses on investing in high-growth startups with at least one female leader.

Merian Ventures: founded by Alexsis de Raadt St James , the firm invests in women-founded and co-founded innovation in the areas of cyber, blockchain, artificial intelligence (AI), machine learning (ML), and consumer-facing companies.

Pillar VC, co-founded by Sarah Hodges , Jamie Goldstein , and Russ Wilcox , raised a $169 million fund 3

Portfolia: founded in 2015 by Trish Costello , is introducing a new, disruptive way for powerful, confident, diverse women to invest in venture capital. It is giving access to those who have been traditionally excluded from the conversation with a focus on innovations in women’s health, active aging & longevity, sustainability & climate change and backing people of color and marginalized communities.

Reach Capital, co-founded by Jennifer Carolan ?and Shauntel Garvey , raised a $165 million fund 3.

The Refinery: co-founded by Janis Collins and Jennifer Gabler , the firm is a pioneer in accelerating women-led tech companies, having assisted 39 companies mentored by 90+ subject expert mentors that have gone on to $30 million+ in funds.?The Refinery has awarded $260,000+ in non-dilutive grants.

Renegade Partners, founded in 2020 by Renata Quintini , formerly at Lux Capital and Felicis Ventures, and Roseanne Wincek , a prior partner at IVP.

Rethink Impact:?founded by Jenny Abramson who is the?Managing Partner, the firm invests in female leaders using technology to solve the world’s biggest problems, including rethinking healthcare.?

Rivet Ventures: co-founded by Shadi Mehraein and Rebeca Eun Young Hwang , the firm invests in companies led by any gender, focusing on women-led markets where female usage, decision-making, and purchasing are crucial to company growth.

Scale Venture Partners: Co-founded by Kate Mitchell , Rory O'Driscoll , and Todd MacLean with the goal of investing in early and growth-stage technology companies, specializing SaaS, cloud infrastructure, and artificial intelligence where one member of the founding team is a woman.

Serena Ventures: Alison Stillman is a Founding General Partner with tennis great Serena Williams, focusing on pre-seed, seed and Series A stages of companies led by underrepresented founders.

Sofia Fund: founding in 1998 the firm is now overseen by three Managing partners: CEO Cathy Connett , Lisa Crump , and Joy Lindsay , with a focus on gender-diverse teams with disruptive, scalable business models that use technology to solve real problems.

SoGal Ventures: co-founders Pocket Sun and Elizabeth Galbut represent the first female-led millennial venture capital fund investing in underrepresented founders, undercapitalized geographies and underserved problems.

SteelSky Ventures: founded by Maria D. Toler in 2017, the firm invests in women’s health companies.

The 51: co-founded by Alice Reimer , the platform connects investors, and entrepreneurs to democratize access to women-led capital for women-led businesses.

True Wealth Ventures: founded by Sara Brand, Ph.D. as the Founding General Partner, the firm invests in female entrepreneurs, from consumer health innovators to sustainable product pioneers.?

Valor Ventures: founded by Lisa Marie Calhoun in 2015, the firm has a diverse team investing in seed rounds for AI / B2B startups in the South.

The Venture Collective: co-founder Gina Shekerdemian , the firm invests in transformative tech and science solving the world’s biggest problems and aligning with underrepresented founders.

Women’s Venture Capital Fund: Backed by Harvard Business School classmates (men and women) and two prominent institutional investors, co-founders Edith Dorsen and her Harvard Business School classmate Monica Dodi closed the Women’s Venture Capital Fund in late 2013. The fund invests in venture-worthy women entrepreneurs seeking Series A and B financings at revenue-generating, capital-efficient companies.?

XFactors Ventures: Comprised of company founders who collectively have founded 28 companies and raised over $600M in venture capital. Now as investors they have supported 70 new companies across multiple sectors that have raised hundreds of millions in follow-on capital. Focus is on pre-seed and seed-stage investments in companies with billion-dollar market opportunities having at least one female founder.

These 60 top women-led venture capital firms are part of a movement for women entrepreneurs to gain parity with their male entrepreneur counterparts. Businesswomen are helping other aspiring businesswomen by filling the funding gap that still remains, while female-founded startups are now surpassing those of males. ??