September 6, 2019, Washington, D.C. – The Billion Dollar Fund for Women (TBDF), a global consortium of venture funds tackling the gender funding gap, has reached its goal of mobilizing US$1billion in pledges, less than a year after its launch on October 11th, 2018. The news was announced by Shelly Porges, and Sarah Chen, Co-founders and Managing Partners of TBDF, and fellow Co-founders, Anousheh Ansari, Nadereh Chamlou, and Anu Jain.
“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. 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”, says Ms. Chen.
“Our partner funds know that this is not just the right thing to do, but the smart thing to do. Investing in women, is just good business. Research has shown that innovative companies with gender-diverse teams deliver anywhere from 23-63% higher returns. We are excited for what lies ahead and how our concerted efforts will catalyze the larger change we need,” says Anousheh Ansari.
About The Billion Dollar Fund For Women
The Billion Dollar Fund for Women is a global consortium of venture funds committed to tackling the gender venture funding gap by pledging to increase their investments in women-founded companies. The Billion Dollar Fund for Women campaign was inspired by a desire to mobilize and connect these venture funds with institutional and other investors to create larger pools of capital to ensure the continued capacity to invest into innovative companies with female founders. More information: http://beyondthebillion.org