Female Founders Fund Closed Second VC Fund, at $27M

Female Founders Fund, a NYC-based seed stage venture capital firm that invests in female-founded companies, closed its second fund, at $27m.

The fund will focus on leading and co-leading investments in female-founded tech companies in the enterprise and consumer tech sectors.

Early investments in Fund II include Thrive Global, Winky Lux, and Billie.

With Fund II, F3 will be managing over $35m of capital between two partners, Anu Duggal and Sutian Dong. In addition to financial investments, F3 has built an ecosystem of female operators and investors committed to investing in female founders by bringing together women as Limited Partners and also as part of the F3 Expert Network. This network of industry experts and CEOs with different areas of expertise provide the fund’s portfolio CEOs with access to an extended group of tactical experts.

As part of Fund II, the firm has brought in strategic institutional partners and fellow female entrepreneurs that will support in the fund’s work. These include:

  • Melinda Gates – Co-Chair of Bill & Melinda Gates Foundation and Investor
  • Katrina Lake – Founder and CEO of Stitch Fix
  • Shan-Lyn Ma – Founder and CEO of Zola
  • Jenny Fleiss – Co-founder of Rent the Runway, Co-Founder and CEO of Code 8
  • Hayley Barna – Co-founder of Birchbox, Partner at First Round Capital
  • Elizabeth Cutler – Co-founder of Soulcycle, Founder of LifeShop
  • Reshma Saujani – Founder and CEO of Girls Who Code



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