Billion Dollar Fund For Women secures $460 mln in pledges

The Billion Dollar Fund For Women (TBDF), a U.S. consortium to address the gender funding gap, is seeking to mobilize as much as $1 billion to invest in women-founded companies within the next decade.

The consortium has so far secured pledges of over $460 million from global investors including Gobi Partners, Golden Gate Ventures, Rethink Impact, Springboard Growth Capital, Backstage Capital, Different Funds and others.

TBDF plans to invest $100 million in women-founded startups by 2020. The consortium's $1-billion target includes re-investment efforts from the initial $100 million.

In addition to raising capital for women-led companies, The Billion Dollar Fund for Women also aims to inspire larger investors to see these funds as an opportunity to diversify their portfolios, especially in areas of gender, environment, social and governance.