The winners have been announced. Thank you to everyone who participated!

Check out the winners!

create

We Are Enough (fiscal sponsor Community Ventures)

The She/Her Multiplier Fund

A fiscally sponsored group

The “Shecession” and the pandemic have hurt women, especially women of color, more than any other demographic. Small businesses are the foundation of our economy. 40+% of brown and black businesses are not coming back and the majority are women. Capital to Female founded companies decreased by 27% in 2020 while investment in men increased. We fix this by funding women investors. Female investors are twice as likely to invest in startups with one female founder, and more than three times more likely to invest in a female CEO.



Describe the mission of your organization.

We Are Enough (WAE) - WAE educates women of every economic level how and why to invest in women-owned businesses. We will leverage WAE’s network of women for fundraising.

In which areas of Los Angeles will you be directly working?

  • County of Los Angeles

What is the problem that you are seeking to address?

Only 5% of assets under management in Venture Capital are managed by female owned firms; Latinx female Founding Partners represent .1% and Black represent .2%. And in 2020 only $3.2B of Venture Funding went to women-led startups. In contrast the Robinhood platform recently raised $3.4 Billion in one round. While legacy venture capital firms are implementing diversity initiatives, it will take generations to see a meaningful increase in female funders, which is why female funders that have taken action to start their own firms Female Funders especially women of color often do not have the resources or connections to endure the 18-24 month fundraising cycle. Female funders need catalytic capital in the same way that underrepresented founders need early investment capital. Early capital from investors provides a base from which to raise additional capital.

Describe the project, program, or initiative that this grant will support to address the problem identified.

Female Funders are twice as likely to invest in startups and existing businesses with one female founder, and more than three times more likely to invest in a female CEO. And Female executives are more likely to hire diverse teams. The She/Her Multiplier Fund will activate a Donor Advised Fund to invest catalytic capital into Female Funders. Grant funding will be used to: 1. create the DAF vehicle. The DAF allows tax-deductible donations to be pooled and deployed to female funders. 2. Provide a stipend to consultants involved with: Crafting the thesis of the fund Creating the Slate of Managers Designing the marketing collateral 3. Paying professional fees, legal, accounting, and platform 4. Providing ongoing management

In what stage of innovation is this project, program, or initiative?

Applying a proven model or solution to a new issue or sector (e.g., using a job recruiting software or strategy to match clients to supportive housing sites, applying demonstrated strategies from advocating for college affordability to advocating for housing affordability and homelessness, etc.)

Approximately how many people will be impacted by this project, program, or initiative?

20
Direct impact
1,000
Indirect impact

Describe how Los Angeles County will be different if your work is successful.

In the short-term we will provide catalytic capital to female funders that are currently in the market raising funds and help propel them to the finish line. Over the one-year grant period, we will have established the infrastructure, raised at least $20million in tax-deductible donations, and allocated that capital to at least 10 female funders based in Los Angeles. We will track the DEI impact resulting from the investments in terms of DEI at the startups. Over time the Fund will be self-sustaining as it receives distributions from its investments into funds.

What evidence do you have that this project, program, or initiative is or will be successful, and how will you define and measure success?

We will track the DEI impact resulting from the investments in terms of DEI at the startups. Over time the Fund will be self-sustaining as it receives distributions from its investments into funds.

Describe the role of collaborating organizations on this project.

We Are Enough (WAE) - WAE educates women of every economic level how and why to invest in women-owned businesses. We will leverage WAE’s network of women for fundraising.

Which of the create metrics will you impact?​

  • Employment in the tech industries
  • Minority- and women-owned businesses
  • Venture capital investment

Comments