Advancing Sustainability and Diversity: Sophia Bendz Talks Angel Investing, a16z's New $1.25B Fund, and Pula's $20M Series B for Agricultural Insuranc
Global Invest Her
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Issue #416
Hey there,?
Welcome to this week's edition of our newsletter! As we reflect on Earth Day and our collective efforts to foster a more sustainable future, we bring you a lineup of stories that highlight significant strides and critical reflections in the tech and investment worlds.
Discover how embracing curiosity led to the creation of a sustainable brand at Twoobs, and learn about Jennifer Li's recent promotion at a16z, where she will co-lead a new $1.25 billion infrastructure fund. We explore Ireland's tech talent dilemma, the challenge of directing more of it towards startups, and delve into Pula's recent $20 million Series B funding to expand agricultural insurance across Africa, Asia, and Latin America.
This edition also features insights from Sophia Bendz on the necessity of quotas in angel investing and lessons from Spotify's Daniel Ek, alongside a look at the persistent funding challenges faced by female founders. Plus, get the latest on Human Ventures as they near a significant milestone in their fundraising efforts for their second fund.
This week we are also reading;
#CommunityIsCapital
Until Next Time & Thank You for Reading,
? Global Pitch Competition
Dublin 2024 offers a dynamic platform to present your innovative startup to eager investors, industry leaders, and fellow entrepreneurs. If you're seeking funding, there's no better place to showcase your startup's impact and potential!
This year, we're inviting women-led startups from diverse sectors including;?
Applications are now open with a deadline of May 10th.
Learn more about the application process and eligibility at https://www.investhersummit.com/pitch-competition-2024!
?? What is Happening in the World of Women Founders??
Since its inception in 2015, Kenya-based insurtech Pula has been committed to expanding access to agricultural insurance for smallholder farmers in emerging markets, protecting them from losses due to pests, diseases, and extreme weather events like floods and droughts.
According to the article cited here, Pula has already insured 15.4 million farmers across Africa, Asia, and Latin America and plans to reach even more, thanks to a recent $20 million Series B funding round. This investment will support new partnerships and expansions, including livestock coverage. The round was led by global investment manager BlueOrchard, under its InsuResilience strategy, with participation from the IFC, the Bill & Melinda Gates Foundation, Hesabu Capital, and other returning investors.
?? Funding News from the Global Stage
?If you've been following the amount of venture capital funding going to all-female-founded teams, you'd notice it's alarmingly stagnant at just 2%, despite numerous initiatives aimed at improving the situation. One such initiative, the Investing in Women Code launched in the UK in 2019, intended to enhance access to tools, resources, and finance for female founders. Five years later, with 240 signatories including VCs, angel syndicates, and banks, little has changed.
This was the crux of a recent roundtable in London, attended by VCs, LPs, angel investors, and lawyers, along with a couple of female founders. Discussions revolved around increasing LP participation in the Investing in Women Code, monitoring VC pipelines for engagement with female founders, and addressing investment committees with no female members.
However, as this article points out, a poignant question was raised: if after five years and numerous data tracking efforts, there's no significant change, is it time to try something different?
? InvestHer Summit
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Margie Traxler, Founder & CEO of Grain Free Mamas, and a previous attendee, recommends you to join the Summit and experience the impact firsthand!
"The InvestHer Summit truly helped me advance my business. It's an incredible opportunity to learn and connect with like-minded women. Don't miss it if you're serious about growing your venture!"?
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?????? Investor Insights
In the article cited here we meet Sophia Bendz, a renowned figure in Europe's VC scene and a general partner at Berlin's Cherry Ventures, with a notable background as Spotify's former global marketing director and one of its earliest employees. Beyond her role at Cherry, she is a prolific angel investor with 52 startups in her portfolio, including notable names like Oura, Manual, and Clue.
During her tenure at Atomico, founded by Niklas Zennstr?m, from 2018 to 2020, she initiated an angel investing program to empower women and other European operators to invest in startups. Now at Cherry, she focuses on early-stage investments across the Nordics and serves on the boards of several innovative companies, including GOALS, Juni, Carbo Culture, and Polarium.
Catch her on this month's episode of the Sifted Podcast, "Startup Europe," where she discusses disinformation, diversity, her Spotify experiences, and her potentially most successful angel investment to date during a 45-minute conversation.
?? InvestHer Global Community Virtual Meetup
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?? Date:?April 29
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?? Location:?Online (Link provided upon registration)
Whether you're new to our community or a seasoned attendee, there’s something for everyone.
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?? Latest Deals & Funds
Human Ventures, co-founded by Heather Hartnett and Joe Marchese in New York, is making waves as it approaches the $50 million mark for its second fund. Known for its commitment to backing "good humans," the firm has built a reputation for strategic growth and strong collaborations. Recently, Human secured Churchill Asset Management, a Nuveen affiliate with over $50 billion in committed capital, as its newest anchor LP, joining investors like Bank of America.
Churchill's decision came after an extensive evaluation of Human's leadership and vision. Raja Doddala, Managing Director at Churchill, emphasized their thorough, methodical approach to investment, drawn to Human’s focus on emerging markets in the health, wellness, and attention economy sectors.
As Human transitions from a venture studio to a major player with over 60 portfolio companies, including three unicorns, its distinctive approach continues to resonate, particularly among women founders.
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Explore a diverse array of empowering gatherings, workshops, and opportunities that span the globe. Whether you're seeking networking events, educational webinars, or thought-provoking conferences, we've got you covered.
Fundraising Guide for Startups - The Shark Method – April 2024
P.S. As of this week we are also featured on Silicon Republic's website, thank you to the team at Silicon Republic, our Summit Partner, for helping us spread the word about our upcoming Summit. Finally, if you still haven't checked out our InvestHer Summit 2023 Highlight video, find it here!