TLDR:
- Cindi Englefield and Mary McCarthy, successful business owners, are investing in female-led tech companies through Accelerating Angels to address the lack of venture capital for women.
- Accelerating Angels plans to invest an average of $100,000 in innovative female-owned companies with a goal of growing their fund to $3 million by 2024.
As successful business owners, Cindi Englefield and Mary McCarthy recognized the lack of venture capital available for female-led businesses, with only 2 to 3 percent traditionally being invested in women-owned companies. This led them to co-found Accelerating Angels in 2022 with a focus on investing in female-owned tech companies. Englefield, who grew her own business, Show What You Know Publishing, for 20 years, and McCarthy, who co-founded the Women’s Small Business Accelerator, combined their expertise to create a fund aimed at investing in 20 female-led companies with the potential to grow quickly and be sold within five to seven years.
The goal of Accelerating Angels is to reach $3 million in funds by the end of 2024, with $1 million already secured. Englefield is actively seeking like-minded investors who are interested in supporting women-owned businesses. McCarthy, with her background in mentoring entrepreneurs, is focused on providing guidance and training to female entrepreneurs on securing funding, making effective pitches, and building their products.
Accelerating Angels has already invested in two firms after vetting over 300 applications and nine pitches. One of the companies, SureImpact, is using their investment to handle growth from a new contract with Microsoft. Co-founder Sheri Chaney Jones highlighted the difference in pitching to a room full of women investors, noting their understanding of her customer base. The support from Cindi Englefield and Mary McCarthy has been instrumental in helping these female-led businesses thrive and overcome funding challenges.
