Our goal is to help develop, fund, and scale 1,000,000 Female founded and led businesses each generating over $1,000,000 in annual revenue by December 31, 2025. Thereby contributing a minimum of $1,000,000,000,000 (One Trillion) to the global economy and changing generations for the better. This is one of three avenues in our business plan to make this a reality.
There are over 13 million women-owned businesses in the United States, not counting the rest of North America or the world for that matter. Women entrepreneurs are often determined innovators who have the potential to scale their businesses and contribute to the economy in countless ways.
However, ultimate success requires access to capital and influential networks to propel growth which are the very same qualities that build market-leading global companies. To contribute in the Economic Empowerment and Growth of women, we are taking decisive action. HERstory Made Fund was created to fill the void of funding options for women led businesses.
Venture capitalists invested over $300 billion in companies in 2022. Meanwhile, Female Founders received just 2% of that, just over $6 billion, in 2022 according to data from M&A, private equity, and venture capital database PitchBook. That massive disparity is due both to the differences in the number of deals and the average deal size by gender.
First, consider the volume of deals. Let's take it back a litter further to before the pandemic. In 2019, over 9,000 companies got VC funding and just over 500 of those companies were female-founded. In other words, companies founded by men got more than 16 times more funding than companies founded by women.
According to the Center for Venture Research, in 2019, only 26% of U.S. angel investors were women and only 5% were minorities. With numbers like this, it is apparent that our traditional way of funding is broken and something needs to change and much hasn't changed since as of yet.
We are actively being the change we want to see in the world! Our fund is taking action to accelerate our vision!