It’s rare to see money flow at parties. Even in investment-laden Silicon Valley, potential fund investors don’t normally mingle socially while writing checks to their hosts over cocktails and hors d'oeuvres.
But at an early-September party in Woodside, that’s exactly what happened.
Portfolia Funds, which operates a platform through which accredited individuals can invest in small venture funds, held an invitation-only event at its headquarters, a few miles down the highway from Sand Hill Road.
Venture firms are starting to invest more meaningfully in women’s health and wellness startups, including Portfolia, the world’s first femtech-specific fund (financed by nearly all female investors), which expects to invest nearly $4m in 6 femtech startups this year.
A group of investors contribute to an investment group. Portfolia's individual investors are limited partners and the company's general partners make the investment decisions, according to Pendleton. Portfolia-backed entrepreneurs get financial capital as well as both social and human capital.
“Three or four years ago, 75 percent of the venture funds in Silicon Valley did not have a woman partner," says Trish Costello, the founder of investing platform Portfolia. "Every one is now looking for one."
This angel network wants to mobilize 100,000 women investors: If Portfolia succeeds, it will funnel over $1 billion into startups that women care about by 2022.