Female Founders Rise Up During COVID-19
ECMC Foundation and Chloe Capital deploy $1.25 Million in capital to female founders over six months
June 12, 2020
NEW YORK—In partnership with ECMC Foundation, Chloe Capital's Invest in Women Tour has successfully rallied the masses once again in support of women defining the Future of Work & Education. In the last six months, ECMC Foundation and Chloe Capital have deployed over $1.25 million to female founders around the world.
Jessica Haselton, ECMC Foundation director of program-related investments, reports, "The impact we've made for women entrepreneurs has been phenomenal. I'm thrilled to be a part of this effort to make venture capital accessible to often overlooked communities and founders." In addition, ECMC Foundation has provided ~$2M in rapid response grants to organizations affected by the pandemic, and has helped catalyze another ~$4M in grants to provide emergency aid to college students in crisis.
With only two percent of all venture capital going to female founders, the need to unite investors, entrepreneurs, and community members to Invest in Women did not stop at the onset of the pandemic. The decision to create a virtual experience became concrete as government leaders began issuing lockdowns.
Kathryn Cartini, Chloe Capital partner explains, "While we were saddened not to be present in Charlotte, NC as intended, this is no time to let funding for women fall to the wayside. More than 600 people tuned into our virtual experience. That's the Movement in action."
Elisa Miller-Out added, "Women leaders are used to overcoming bias, they're overprepared, and often held to a higher standard than male founders. In these difficult times, we're proud to support the women who Rise Up."
Congratulations to BridgeCare's Jamee Herbert, CEO and co-founder, and JC Kirst, CTO and co-founder, who received a $100,000 investment from Chloe Capital. BridgeCare makes it easy for working parents to find and afford the quality child care that every family deserves.
ECMC Foundation welcomes EdSights co-founders, Claudia and Carolina Recchi to its portfolio with a $150,000 investment opportunity. EdSights, a conversational AI to solve the college dropout crisis.
Paul Singh, ECMC board member and Rezon8 Capital managing director, also extended Amanda DoAmaral, founder and CEO of Fiveable, an impact investment of $25,000. Fiveable is a social learning platform for students and teachers, currently focused on AP exam prep.
In addition to Singh, Deborah Quazzo, GSV Ventures; Del Johnson, Indie.vc; Elizabeth Garlow, Lumina Impact Ventures; Anne Kennedy, Outlines Venture Group / Mastersfund; and Marissa Lowman, Village Capital, all contributed feedback and connections to help each founder catalyze even more funding.
View all founders, investor panelists and speakers who participated in the Movement's first ever virtual experience at ChloeCapital.com/Charlotte.
About ECMC Foundation
ECMC Foundation is a national foundation with a mission to facilitate improvements that affect educational outcomes—especially among underserved populations. It is one of several affiliates under the ECMC Group enterprise. ECMC Foundation makes investments in two focus areas: College Success and Career Readiness; and uses a spectrum of funding structures, including strategic grantmaking and program-related investments, to invest in both nonprofit and for-profit ventures. Working with grantees, partners and peers, ECMC Foundation's vision is for all learners to unlock their fullest potential.
About Chloe Capital
In 2017, Chloe Capital set out to #InvestInWomen. The firm partners with foundations, universities and corporations to create opportunities for women. Today, the VC firm is being recognized as a Movement that empowers over 10,000 investors, women entrepreneurs and supporters. ChloeCapital.com