{"id":7108,"date":"2019-02-20T15:44:54","date_gmt":"2019-02-20T20:44:54","guid":{"rendered":"https:\/\/cyclecapital.creatures.ca\/2019\/02\/20\/the-billion-dollar-fund-for-women-canada-launches-to-tackle-the-gender-funding-gap\/"},"modified":"2019-02-20T15:44:54","modified_gmt":"2019-02-20T20:44:54","slug":"the-billion-dollar-fund-for-women-canada-launches-to-tackle-the-gender-funding-gap","status":"publish","type":"post","link":"https:\/\/cyclecapital.com\/en\/2019\/02\/20\/the-billion-dollar-fund-for-women-canada-launches-to-tackle-the-gender-funding-gap\/","title":{"rendered":"The Billion Dollar Fund For Women\u2122\/Canada launches to tackle the gender funding gap"},"content":{"rendered":"\n

Six Canadian venture funds have already pledged
as part of the global campaign to mobilize $1B<\/strong><\/p>\n\n\n\n

Wednesday, February 20th, 2019\u00a0(Toronto\u00a0and\u00a0Montreal)<\/strong> \u2013 Cycle Capital, Canada\u2019s largest clean technology venture capital investment platform, announced the first close of its new Fund, Cycle Capital Fund IV, LP. The announcement was made by Andr\u00e9e-Lise M\u00e9thot, Founder and Managing Partner of Cycle Capital, alongside Pierre Fitzgibbon, Quebec\u2019s Minister of Economy and Innovation and the fund\u2019s sponsors. <\/p>\n\n\n\n

The Billion Dollar Fund For Women launches\nits Canadian campaign to mobilize a consortium of Canadian venture funds to\npledge to increase their investment in women-founded companies. While the\ngender pay gap is well documented in Canada, what is not is the gender funding\ngap of venture capital in companies. To address this, The Billion Dollar Fund\nfor Women (\u201cTBDF\u201d) was established to tackle the gender funding gap. A founding\ngroup of Canadian venture capital funds are proud to bring the TBDF to the\ncountry and to receive an initial set of pledges from Canadian venture capital\nfirms as part of a global $650M pledged toward a $1B goal.<\/p>\n\n\n\n

\u201cThe Billion Dollar Fund for Women is a simple and elegant way for venture capital firms to show their support for female-founded companies.\u00a0 If you say that you support female entrepreneurs, you make a pledge and join the consortium. We are mobilizing existing funds to work together towards a common global goal, to empower female entrepreneurs. We are thrilled with the support and commitment given by the first set of Canadian funds and we look forward to continuing the conversation with other funds to support this initiative and meet our $1B global goal,” said Lally Rementilla, Canada Lead of TBDF and President of Qantius Inc.<\/p>\n\n\n\n

The\nfund was inspired by a desire to mobilize and connect these venture funds with institutional\nand other investors to create larger pools of capital for venture investments\ninto women founded companies. TBDF\u2019s\nCo-Founders are eager to expand their global reach of venture funds. As\nimportantly, they hope to inspire larger investors to see these funds as a key\nopportunity to gender diversify their portfolios and to meet the growing push\nfor ESG (environment\/social\/governance) requirements. <\/p>\n\n\n\n

\u201cWe are thrilled to welcome our Canadian\npartners pledged to increasing their investments in women. Nothing has\nexcited us more than our partnership with some of Canada’s leading venture\nfunds. And no country has shown more commitment to its female founders than\nCanada. It is clear that Canada is on the threshold of major breakthroughs in\ninnovation led by some of its great women entrepreneurs.  With Canada’s\ngoal of doubling the number of women entrepreneurs by 2025, the investments\nmade by our partner funds will be more important than ever to ensure the\nsuccess of these early-stage ventures,” said Shelly Porges, Co-Founder and\nManaging Partner of TBDF.<\/p>\n\n\n\n

According to Pitchbook, women-founded\ncompanies have received just 2% of the total of venture capital investment last\nyear[1]<\/a>. Beyond this, venture\nfunds committed to investing in women founded companies often struggle to\nexpand their capital base and to increase their capacity to invest. Yet,\nresearch shows that companies with women founders bring in 20% more revenue\nwith 50% less invested. [2]<\/a><\/p>\n\n\n\n

For venture funds that make a pledge,\nTBDF provides greater exposure to institutional funders, sovereign funds,\nwealth managers, family offices and high net worth investors. While more city\nleads will be announced soon, the current city Leads of TBDF Canada are Cycle\nCapital (Montreal) and Marigold Capital (Toronto).  <\/p>\n\n\n\n

Interested individuals who would like to learn more about The Billion Dollar Fund for Women are welcome to head to http:\/\/thebilliondollarfund.org\/<\/a> for participation opportunities.
<\/p>\n\n\n\n

The\nBillion Dollar Fund For Women\u2122\/Canada\n<\/strong><\/p>\n\n\n\n

Canada Lead: Lally Rementilla, President, Quantius Inc.<\/p>\n\n\n\n

lrementilla@quantius.ca<\/a> <\/p>\n\n\n\n

Montreal Lead: Andr\u00e9e-Lise\nM\u00e9thot, Founder and Managing Partner, Cycle Capital Management<\/p>\n\n\n\n

amethot@cyclecapital.com<\/a><\/p>\n\n\n\n

Toronto Lead: <\/p>\n\n\n\n

Jonathan Hera, Founder and\nManaging Partner, Marigold Capital<\/p>\n\n\n\n

jonathan.hera@marigold-capital.com<\/a><\/p>\n\n\n\n

List of TBDF\u2019s Canadian Supporters:<\/strong><\/p>\n\n\n\n

Cycle Capital<\/p>\n\n\n\n

Ecofuel Fund<\/p>\n\n\n\n

Marigold Capital<\/p>\n\n\n\n

Pique Ventures<\/p>\n\n\n\n

Quantius<\/p>\n\n\n\n

StandUp Ventures\n\n\n\n\n\n0\n4d73<\/p>\n\n\n\n

\n\n\n\n

[1]<\/a> https:\/\/techcrunch.com\/2018\/11\/04\/female-founders-have-brought-in-just-2-2-of-us-vc-this-year-yes-again\/<\/a><\/p>\n\n\n\n

[2]<\/a> https:\/\/hbr.org\/2012\/12\/a-wave-of-angel-investing-orga<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Six Canadian venture funds have already pledged as part of the global campaign to mobilize $1B Wednesday, February 20th, 2019\u00a0(Toronto\u00a0and\u00a0Montreal) \u2013 Cycle Capital, Canada\u2019s largest clean technology venture capital investment platform, announced the first close of its new Fund, Cycle Capital Fund IV, LP. The announcement was made by Andr\u00e9e-Lise M\u00e9thot, Founder and Managing Partner […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-7108","post","type-post","status-publish","format-standard","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/cyclecapital.com\/en\/wp-json\/wp\/v2\/posts\/7108","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cyclecapital.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cyclecapital.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cyclecapital.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cyclecapital.com\/en\/wp-json\/wp\/v2\/comments?post=7108"}],"version-history":[{"count":0,"href":"https:\/\/cyclecapital.com\/en\/wp-json\/wp\/v2\/posts\/7108\/revisions"}],"wp:attachment":[{"href":"https:\/\/cyclecapital.com\/en\/wp-json\/wp\/v2\/media?parent=7108"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cyclecapital.com\/en\/wp-json\/wp\/v2\/categories?post=7108"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cyclecapital.com\/en\/wp-json\/wp\/v2\/tags?post=7108"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}