Female-led firms get new boost
Goldman Sachs is investing $500m in companies led or founded by women. The initiative will also support clients looking to invest in late-stage companies or stump up seed capital for women launching funds.
As part of the Launch With GS project, Goldman says it will bring together investors, entrepreneurs, non-profit organisations and other male and female ‘leaders’ to nurture and new businesses.
“We believe fostering a community will, over time, help increase the pipeline of investment opportunities in women-led businesses,” says Stephanie Cohen, chief strategy officer, Goldman Sachs.
Just 2% of US venture capital in 2017 went to companies with all-women founding teams and just 12% to those with at least one woman. And under 2% of private equity firms are female-owned.
Last month, entertainment giant Live Nation announced the Women Nation Fund targeting on female-led live music businesses.