Investor Profile: Female Founders Fund — Thesis, Cheque Size & How to Apply

Female Founders Fund, based in New York, invests exclusively in female founded technology companies, and learning how to get funding from Female Founders Fund starts with that clear eligibility rule. Founded in 2014 by Anu Duggal, it describes itself as a leading source of institutional seed capital for female founders. Its argument is both commercial and corrective: exceptional female talent has been underfunded, and companies built by women can define new categories.

Investment thesis

The thesis is that female founders are systematically overlooked by mainstream venture capital, creating an opportunity for a focused, founder centred fund. The firm backs leaders with a point of view strong enough to challenge, shape, and redefine their market. It values judgement, brand discipline, and capital efficiency, and it looks for businesses that can become category leaders rather than narrow niche products.

Sectors and stages

The firm invests at seed stage. Historically it has backed companies across B2B, consumer, fintech, and healthcare. Its current stated areas include digital healthcare, AI-first vertical software, beauty and personal care, pet products, and deep tech. The common thread is a female founder building a technology company, not a single sector bet.

Fund size and cheque size

Female Founders Fund raised Fund I at $6 million, Fund II at $25 million, and Fund III at $57 million, taking total assets under management to more than $90 million when Fund III closed in 2021. Reported cheque sizes are typically $500,000 to $1 million, with a sweet spot around $750,000. A current fund size beyond that public record is not publicly disclosed in the materials reviewed.

Notable portfolio

Notable portfolio companies include Zola, the wedding registry company, Maven Clinic, a digital health company, Tala, a financial services company, Billie, a personal care brand, and ELOQUII, a plus size fashion company. The firm also lists Peanut, BentoBox, Co-Star, and Rent the Runway among earlier investments. Together they show range across consumer, health, and business software.

Partners and team

Founding partner Anu Duggal leads the firm. The current team listed on its website also includes Julie Cerick, head of platform, Zabreen Khan, principal, and Layla Alexander, associate. The team describes itself as entrepreneurs, operators, and builders working closely alongside founders, rather than as distant capital providers.

Programs and perks

The firm runs The Two Percent podcast, named for the historically small share of venture funding going to female founders, and publishes research and founder stories through its website. It also presents a founder community around its portfolio. No standalone accelerator programme with published terms and deadlines was verified in the materials reviewed, so founders should treat investment and community support as the main offer.

How to apply for funding

There is no verified open application portal with published deadlines on the firm's website. The practical route is a warm introduction, ideally from a portfolio founder, another investor, or a trusted operator, supported by a concise pitch on the founder, the market, and why this company can lead its category. Founders can also start through the contact and newsletter routes on femalefoundersfund.com and build familiarity before pitching.