Investor Profile: Gaingels — Thesis, Cheque Size & How to Apply

Gaingels funding comes from one of venture's largest affinity networks: a global syndicate of LGBTQIA+ investors and allies that co-invests in venture-backed startups with LGBTQIA+ founders and C-suite leaders. Launched in 2014, the network has put more than $300 million to work across over 300 deals — making it one of the biggest venture syndicates by volume.

Thesis & focus

Gaingels was founded on a simple premise — invest in LGBT+ founders — by co-founders Paul Grossinger and David Beatty in late 2014. Managing director Lorenzo Thione (a Powerset co-founder, sold to Microsoft in 2008, and founder of the StartOut entrepreneurial network) frames the mission as fixing venture's diversity gap at every level: founders, C-suites, boards and check-writers. The syndicate backs companies with diverse and LGBTQIA+ founders and C-suite leaders at all stages of growth, plus high-growth companies committed to building more inclusive teams. Members do more than write cheques: each pledges to open their network, expertise and resources to the portfolio, and Gaingels runs a board-member recruitment advisory to diversify private boards.

Sectors & stages

Gaingels co-invests with select VC leads across technology, B2B, healthcare and consumer, in competitive and oversubscribed rounds from late-seed to growth and pre-IPO. Investments typically range from $100,000 to $2 million and are usually structured as special purpose vehicles (SPVs). The network spans more than 1,000 accredited investors globally, and it supports the Diversity Term Sheet Rider Initiative to widen access to venture funding for non-traditional check writers.

Fund size

Gaingels is a syndicate rather than a traditional fund, so there is no single fund size to report. The aggregate numbers tell the story: over $300 million invested across 300+ deals, per the syndicate's figures shared via AngelList.

Notable portfolio

Standout names include Chime, MasterClass, Brex, Varo Bank, Better.com, Cerebral, Epic Games, Philo, Lime, Eight Sleep, Plume (the first digital healthcare company dedicated to the transgender community), Unstoppable Domains and India's Shiprocket.

Key people

Co-founders Paul Grossinger and David Beatty launched the network in 2014; managing director Lorenzo Thione is its public face, supported by venture partners and scouts across the ecosystem.

Programs, perks & network

Beyond capital, Gaingels runs the Gaingels 100 — an annual list honouring top LGBTQIA+ founders and CEOs (past honourees include Shift's George Arison, the first openly gay founder-CEO to take a US company public, and Prezi founder Peter Arvai) — a $5,000 scholarship programme with the California Community Foundation pairing students with mentors and internships, the HackOut LGBTQ+ startup hackathon, and virtual and in-person community events plus international ecosystem trips for portfolio founders.

How to apply for funding

Gaingels is a co-investment syndicate, not an accelerator — there is no public batch application. Startups with LGBTQIA+ founders or C-suite leaders typically reach the syndicate through a lead VC or a warm introduction from a member of its 1,000-strong investor network. The practical route: raise a competitive round with a strong lead investor, and connect via the firm's site at gaingels.com or through a member introduction. Accredited investors can apply to join the network itself at gaingels.com.