Location-based social app Bumble is launching Bumble Fund, which will help women and other underrepresented groups launch businesses. Click through to read more about the fund, its work empowering women, the importance of securing more venture capital for women and minorities, and more.
By Sarah Perez
Dating and networking app Bumble today announced the launch of Bumble Fund, a new vehicle focused on early stage investments specifically aimed at helping diverse, female entrepreneurs raise capital for their businesses. Sarah Jones Simmer, Bumble Chief Operating Officer, will lead Bumble Fund’s investment strategy along with Bumble Senior Advisor, Sarah Kunst, the company says.
“Investing in and empowering women in business is something that our founder and CEO Whitney Wolfe Herd is deeply passionate about and is at the very core of what Bumble stands for,” said Jones Simmer, in a statement about the fund’s launch. “Through Bumble Fund we’ll look not only to support those women leaders who have been largely ignored, but we’ll also demonstrate why those investments build smart, successful businesses.”
Bumble Fund’s initial commitments include one of the winners of Bumble’s first “Bizz Pitch” competition, Sofia Los Angeles, a swimwear company founded by Anasofia Gomez. Its other commitments so far include Mahmee, a health care platform for coordinating prenatal and postpartum care; Female Founders Fund, another early stage fund for backing female talent; BeautyCon, the digital media company and festival operator focused on the beauty industry; and venture fund Cleo Capital, also focused on female founders.
Image credit: Bumble
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