When we launched The Billion Dollar Fund for Women in 2018, it was with a simple conviction: women founders were building the future, yet receiving only 2.2% of venture capital. That had to change.

What began as a bold idea—a pledge campaign to catalyze $1 billion toward women-led innovation—quickly became a global movement. In less than nine months, with the support of visionary general partners, investors, and allies around the world, we surpassed our pledge goal. Together, we proved that when capital is deployed intentionally, it can shift industries.

But hitting that milestone was just the beginning.

To ensure this wasn’t a one-time pledge but a sustained movement, we launched Beyond The Billion—an extension and evolution of our original vision. Through it, we deepened the work: building a global community that spanned borders, bringing in not just venture funds and founders alike but also family offices, endowments, foundations, and other institutional investors. Beyond publishing data, amplifying stories, we mobilized real capital by bringing together both venture funds and limited partner investors, and made the business case clear: investing in innovative women driving top quartile returns is not a “nice-to-have”—it is a business imperative.

And most importantly, through the collective efforts of our partners, we crossed a historic milestone: over $1Bn not just pledged but as of 2025, $1.04Bn now deployed into women-founded and co-founded companies by our partner funds. That achievement belongs to every fund, founder, allocator, and champion who stood with us to change the face of venture capital.

Impact at a Glance

• 122 pledged funds, 
• $1.8B pledged, and $1.04B+ deployed to women-founded companies to date.
• 1,302 women-founded companies invested in through pledged dollars, with 65% of capital going to diverse teams and 30% to all-female teams.

These numbers reflect real change: Aruwa Capital’s portfolio has grown 22x in revenue, creating 205,000+ jobs. Full In Partners overdelivered sixfold on their pledge. Gobi Partners far exceeded their commitment, with diverse teams now nearly half their portfolio. Stories from Cortado Ventures, Antler, Demeter IM, Bootstrap Europe, and leaders like Carol Schwartz AO show that intentional capital drives both returns and systemic impact.

These are just some of the exciting developments in our report: Our Next Billion Momentum Report.

Looking Ahead

The world is increasingly complex— a global backlash against DEI, rising geopolitical tensions, the disruptive acceleration of AI, and tighter liquidity. But our belief remains unchanged: diverse teams outperform, and yet, capital is one of the most powerful levers for systemic change.

We are proud of the many funds and founders who have carried this torch forward, and even prouder of the ripple effects that are still unfolding beyond today. 

Above all, we want to express our deepest thanks: to the funds who took the pledge and delivered on it, our country leads who championed the cause in their regions, our sponsors, ecosystem partners, and allies who recognized the power of their support and amplified the mission, the many team members whose tireless work made this possible. Finally, a special thanks to our Global Advisory Council members whose wisdom, credibility, and connections helped fuel our success. This was, from the very beginning, a collective endeavor, and every milestone belongs as much to you as it does to us.

Now, as we look ahead, it’s time for us—as co-founders—to evolve to our next chapter. We do so with immense pride in what has been built, gratitude for the partners and friends who made this journey possible, and confidence that the movement will only continue to grow stronger from here.

This was about proving what’s possible when we dare to believe—and dare to act. The story continues, in the hands of all of us who keep fueling women-led innovation every day. We are confident that our bonds will continue to grow and fuel future successes.

For Shelly, a Forbes 50>50 honoree in 2021, among those honored during the inaugural year for this recognition, this means, among other things, building on the brand she created and this legacy by channeling her energy into serving on new boards, supporting women globally, while cherishing more time with her family across the U.S. Connect with her on LinkedIn. 

For Sarah, it means building on this legacy with her own version of Billion Dollar Moves—trusted by family offices globally to align profit and purpose, and sought out by governments to strengthen innovation ecosystems and champion women-led entrepreneurship worldwide. Connect with her on LinkedIn, follow her adventures on Instagram, and, of course, tune in to Billion Dollar Moves wherever you listen to your podcasts!