TLDR:
- Jenny Abramson and Heidi Patel have raised $250 million for Rethink Impact, making it the largest VC firm dedicated to funding female CEOs.
- They have attracted investors like Melinda French Gates and UBS, boosting their assets under management to over half a billion.
Jenny Abramson and Heidi Patel, managing partners of Rethink Impact, have successfully raised $250 million for their third fund, making it the largest venture capital firm focused on investing in women-led startups. This significant achievement comes at a time when venture fundraising is facing challenges, with Rethink Impact managing to secure institutional investors like Melinda French Gates’ Pivotal Ventures and UBS. The duo’s track record of successful investments, including companies like Spring Health and Guild Education, has paved the way for their rapid fundraising success.
Despite some skepticism around the targeted nature of their fund, Abramson and Patel believe their focus on female entrepreneurs not only benefits society but also offers lucrative investment opportunities that traditional VC firms might overlook. Through their determined networking and hands-on approach, the duo has developed valuable connections within both policymaking circles and the tech industry, helping portfolio companies like Parallel Learning and Candidly secure funding and partnerships.
With a portfolio of 40 companies, Rethink Impact aims to not only generate returns for its investors but also promote gender parity in the entrepreneurial space. As they manage half a billion dollars across their three funds, Abramson and Patel remain committed to reshaping the venture capital industry and creating opportunities for women-led businesses to thrive.
