How Women Invest Research
Investment Thesis
How Women Invest is a specialized venture capital fund exclusively focused on women-founded companies. Born from the robust network of How Women Lead (a 25,000+ member women's leadership movement), the fund operates with a conviction that women founders represent an overlooked yet superior investment opportunity in the market. The fund's thesis is grounded in data: women-founded companies earn 26% more for investors, achieve 35% higher returns according to Kauffman Fellows research, and women founders return 78 cents per dollar invested compared to 38 cents for male founders. Yet women founders receive only 2% of venture funding despite starting 40% of all businesses. How Women Invest sees this gap as a boundless opportunity to harness untapped potential and drive superior returns.
Organization & Structure
How Women Invest is a 100% women-led organization with 50% of the team being women of color. The firm has raised three distinct funds:
- Fund I: $10M with 10 companies, focused on Late Seed to Series B stage, with 2 exits (Hitch, Long Game)
- Fund II: $10M, Seed-stage focused, with 10+ investments to date
- Fund III: $100M, Series A & B focused, currently actively deploying
Total AUM across the three funds is approximately $120M. The firm has built a 140+ strong limited partner base, creating pathways for new women investors into venture capital.
Investment Approach & Deal Flow
How Women Invest sources 70% of deals through its network of 25,000+ women professionals and maintains robust partnerships with 85+ VC firms. The deal team includes Managing Partner Julie Castro Abrams, VC Partner Carmen Palafox, and additional investment analysts. The firm's transparent due diligence process takes 4-6 weeks from pipeline entry to decision. The reviewing process is fast and founder-centric, reflecting the firm's commitment to revolutionizing the investor-founder relationship with emphasis on respect, promptness, and a supportive approach.
Stage Focus & Check Size
How Women Invest's stage focus varies by fund:
- Fund I & II: Seed and early-stage focus (Late Seed to Series B for Fund I, Seed focus for Fund II)
- Fund III: Series A and B stage, reflecting the successful deployment of earlier funds
Inferred check sizes range from $250K-$2M for seed-stage investments to $2M-$5M+ for Series A/B participation. The firm is disciplined yet dynamic in its capital deployment, with measured growth and creative structuring aligned with their investment thesis.
Portfolio Composition & Sector Focus
How Women Invest's portfolio spans 30+ companies across diverse sectors:
Fund I Portfolio (10 companies):
- BabyQuip (Familytech)
- GrayMatter Analytics (Healthtech)
- Inclusively (Future of Work)
- Statusphere (Martech)
- Fortë (Healthtech)
- Hello Alice (Fintech)
- Long Game (Fintech, Exited)
- Gaiascope (Climatetech, Exited)
- Hitch (Future of Work, Exited)
- Sylvatex (Climatetech)
Fund II Portfolio (20-30 companies):
- Aged Diagnostics (Biotech)
- Attn: Grace (Healthtech)
- Clickvoyant (AI/Martech)
- MyoGene Bio (Biotech)
- Thumbprint (Future of Work)
- Alcheme Bio (Biotech)
- CZero (Climatetech)
- EnCellin (Medtech)
- Narratize (AI/Martech)
- heard.io (E-Commerce)
- Anise Health (Healthtech)
- Clearbrief (Legaltech)
- Maro (Healthtech)
- Re:Dish (Climatetech)
- meno Well (CPG/Healthtech)
Fund III Portfolio (Early stage):
- Trial Library (Healthtech)
- Cofertility (Healthtech)
Priority Sectors (from investment thesis):
- Planet/Climate: Investing in climate tech and sustainability with significant innovation potential
- Health: Addressing unique health needs of women and children, women's health tech (menopause, fertility, women-specific diagnostics)
- Future of Work: Remote work, employee mobility, AI-driven workplace solutions
Additional sectors across portfolio include: Fintech, Martech, Biotech, E-Commerce, Legaltech, CPG.
Track Record & Recent Activity
The firm demonstrates strong momentum:
- 80% of portfolio companies have successfully raised capital after initial investment - indicating strong value-add and network support
- 30% in Fund I/II are serial entrepreneurs, increasing to 60% in Fund III - the firm actively targets repeat founders
- 3 exits to date: Hitch (acquired), Long Game (acquired), Gaiascope (acquired)
- Actively deploying Fund III ($100M, Series A & B focused)
- Portfolio highlighting in media: Recent coverage in Forbes (female founders vs male founders returns), Axios (women-led VC funds reshaping Silicon Valley), and CSQ (top industries to watch)
Recent portfolio highlights include:
- MyoGene Bio: Gene editing company addressing Duchenne muscular dystrophy
- Maro: Healthcare platform connecting patients with providers (founder Kenzie Butera Davis)
- Trial Library: Healthcare research infrastructure
- Cofertility: Women's reproductive health and fertility services
Team & Expertise
The team brings over 100 years of combined experience in leadership, finance, and investment:
Core Investment Team:
- Julie Castro Abrams (Managing Partner)
- Anne Myong (Operating Partner)
- Carmen Palafox (VC Partner, Deal Team)
- Aury Cifuentes (Principal)
- Lata Setty (Deal Team & LP Advisory Council)
Support Team:
- Kathleen Osborne (Public Relations)
- Brittany Feehan (Investor Relations)
- Liz Mabey (Operations)
- Additional Investor Relations, Operations, and Advisory Council members
The 100% women-led team reflects the firm's values and commitment to demonstrating inclusive venture capital.
Founder Preferences & Decision Process
How Women Invest explicitly invests in women-founded companies only. The firm takes a founder-centric approach, prioritizing:
- Women entrepreneurs across all sectors
- Technical founders with deep domain expertise
- Serial entrepreneurs (preference increases in Fund III)
- Founders who value supportive, respectful investor relationships
- Diverse founding teams and women-of-color founders
The decision process involves the partnership evaluating high-quality deal flow from the robust network, with final decisions made by the general partners and investment committee.
Value-Add & Support Network
How Women Invest provides far more than capital. The firm's network of 140+ LPs and 25,000+ women professionals provides:
- Deal Flow & Diligence: LPs provide sourcing support and due diligence resources
- Talent: Connecting founders with enterprise talent and recruitment support
- Investor Connections: Access to other VCs for follow-on funding
- Market Access: Introductions to enterprise clients and business development opportunities
- Visibility & Promotion: Media coverage, podcasts, press, newsletters, social media, events
- Industry Expertise: Subject matter experts and operational advisors
- Strategic Support: Board seats to protect investments and support growth
Portfolio founders report receiving more introductions and visibility from How Women Invest than from other investors.
Geographic & Founder Demographics
The firm operates nationally with a concentration in major tech hubs (SF Bay Area, NYC). The 25,000+ network spans women across the US and internationally. The firm's commitment to women-of-color entrepreneurs is reflected in its 50% women-of-color team composition and deliberate focus on funding diverse founders.
Fund Status & Future Direction
Fund III ($100M) is currently actively deploying capital into Series A and B stage companies. The firm continues to grow its LP base and network, with events, courses, and thought leadership on women in venture. The firm's recent media appearances (Axios, Forbes, CSQ) and thought leadership from Managing Partner Julie Castro Abrams indicate an organization at the forefront of reshaping venture capital toward greater inclusivity and gender equity.
Summary
How Women Invest represents a unique model in venture capital: a data-driven, founder-centric fund that invests exclusively in women-founded companies while leveraging a massive network to drive superior returns. With three funds managing $120M in AUM, 30+ portfolio companies, 3 exits, and 80% of portfolio companies successfully raising follow-on capital, the firm has demonstrated both investment acumen and the ability to create meaningful value for founders through its extensive network. The firm is not just investing in companies; it's investing in a movement to reshape the venture capital landscape toward greater gender equity.