The Atlantic Women’s Venture Fund, the new female-focused angel investing group from the non-profit Atlantic Women’s Venture Foundation, is now accepting applicants from founders.
The angel group is the result of a partnership between the the Atlantic Women’s Venture Foundation and the Women’s Equity Lab, which was founded in Victoria, British Columbia in 2017 to address the "chronic and systemic" barriers faced by female entrepreneurs. It now works with more than 150 investors, sharing resources and expertise with female entrepreneurs looking to start making angel capital deals.
"Each group has their own investment thesis and connects closely with the businesses in their region while also making investments across Canada," says the Women's Equity lab on its website. "The groups do not only provide capital to the companies that they invest in but each investment is also backed by a strong network of women who are able to act as advisors, connectors and champions of the investee."
The Atlantic Women’s Venture Foundation was created by the all-women venture capital fund Sandpiper Ventures to support female founders whose companies are not yet ready to raise VC funding.
The fund is currently worth about $150,000, with 30 investors contributing $5,000 each. Managing partner Andrea King previously said in an email that once the first fund is depleted, a second one will be opened, with the option for new investors to join.
Each investment made by the fund will be for between $25,000 and $50,000, for three to six portfolio companies in total.
“Women-controlled capital can be a powerful force for change," said Women's Equity Lab founding partner Stephanie Andrew in a statement. "Investment capital controlled by women continues to grow, and we’ve seen an incredible opportunity to bring women together to actively participate while providing essential financing to early stage companies."
Interested founders can learn more and apply here.