Female Founders Fund
UnclaimedAt a Glance
- Check Size
- $500K – $1M
- Stage
- Pre-Seed, Seed, Series A, Series B+
- AUM
- $57M
- Sectors
- Aerospace & Defense, Digital Health, Other +2
- Founded
- 2014
- HQ
- New York, NY
About Female Founders Fund
Female Founders Fund was founded in 2014 by Anu Duggal with the mission to change the face of entrepreneurship by investing in exceptional female entrepreneurs. The fund focuses on early-stage investments in technology companies founded or co-founded by women, particularly those leveraging data, automation, and connectivity to disrupt traditional industries. Anu Duggal, the founding partner, brings extensive experience from her time at Deutsche Bank and various startups. The firm has built a strong portfolio across consumer, fintech, and digital health sectors, with notable investments including Zola, Rent the Runway, and TheSkimm. What makes Female Founders Fund distinctive is not just its gender-focused thesis, but its comprehensive support system for female entrepreneurs, including mentorship, networking opportunities, and strategic guidance. The fund typically writes checks ranging from $25K to $500K in pre-seed through Series A rounds, and has become a prominent voice in the movement to increase female representation in venture capital and entrepreneurship.
Investment Thesis
“Invests in female-founded companies across consumer, healthcare, fintech, and enterprise sectors from pre-seed to Series A.”
Sector Focus
Investment Stage
Notable Portfolio Companies
View full portfolio →Fund History
Female Founders Fund has raised four flagship funds from New York, each roughly doubling the last. Fund I filed a $5 million offering and sold $3.71 million, with a first sale on 15 October 2013 and Anuradha Duggal as executive officer and director. Fund II closed fully subscribed at $26.86 million from a first sale on 22 June 2016, with Duggal and Sutian Dong as directors. Fund III closed fully subscribed at $57.49 million from a first sale on 17 March 2020. Fund IV filed a $75 million offering in November 2023, again with Duggal as director.
Each flagship carries a parallel qualified-purchaser vehicle, Female Founders Fund II, III and IV (QP), and the firm added Female Founders Fund Opportunity I, LLC in 2020 to concentrate follow-on capital. The record's $57 million AUM figure corresponds to Fund III and predates the Fund IV raise. Current stated focus areas are digital healthcare, AI-first vertical software, beauty and personal care, pet, and deep tech including aerospace, robotics and advanced materials.
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Frequently Asked Questions
What stage does Female Founders Fund invest at?
Female Founders Fund primarily invests at the Pre-Seed, Seed, Series A, Series B+ stages. This means they focus on companies that are at the earliest idea or prototype phase.
Where is Female Founders Fund located?
Female Founders Fund is headquartered in New York, NY. Many of their portfolio companies are also based in this region, though they invest across geographies.
What sectors does Female Founders Fund focus on?
Female Founders Fund focuses on investments in Aerospace & Defense, Digital Health, Other, Consumer, Fintech. Their portfolio reflects deep expertise and networks within these sectors.
What is Female Founders Fund's typical check size?
Female Founders Fund's typical investment check size ranges from $500K to $1M. Actual amounts may vary based on the stage, sector, and specific opportunity.
How much does Female Founders Fund have under management?
Female Founders Fund manages approximately $57M in assets under management (AUM) across their funds.
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