Female Founders plans final close for EUR 20m debut fund in Q3 2023

Fund F, which will back technology startups with at least one female co-founder, was oversubscribed at its first close on EUR 12m in October, surpassing its goal of EUR 10m, Wöss said.

Female Founders seeks to invest in businesses with first-time female founders or with female talent looking to build a career in technology.

Wöss, who was an investment manager at Speedinvest and spent almost eight years at the VC investor, founded Female Founders with Lisa-Marie Fassl in 2016. The firm has 17 employees and has spent the past years building a community that supports women in technology before deciding to invest in companies directly with its own fund.

Investors
Fund F has a total of 50 LPs including two institutional investors – development bank Austria Wirtschaftsservice and an Austrian regional bank – who are also its cornerstone investors.

Other LPs include a group of high-net-worth individuals and entrepreneurs who have had successful exits as well as entrepreneurs that are interested in the asset class.

Investments
Fund F expects to make 25-30 deals, with the first two close to being completed. The vehicle will target companies based across Europe with a particular focus on the DACH region. It will invest in pre-seed rounds for both B2B and B2C companies. Examples of companies the VC is interested in include those that provide talent and HR solutions for employee retention and hiring, as well as climate technology and health technology including, mental health apps and solutions.

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