The Vinetta Project, which funds and supports promising female founders, and J.P. Morgan have announced the launch of a programme that sources, funds and supports female founded companies seeking to disrupt existing markets. This initiative aims to close the gender-based funding gap by providing female founders in technology greater access to capital, networking opportunities and advisory services.
The Vinetta Project and J.P. Morgan have designed a programme featuring a series of events, including showcase pitch events, problem-hacking cohorts, half-day bootcamps and more.
“In 2019, venture capital investment in all-female founding teams reached a record US$3.3bn, representing 2.8% of capital invested across the entire US startup ecosystem,” said Vanessa Dawson, founder and CEO of The Vinetta Project. “While this is an increase from 2018, we are determined to raise market awareness around gender inequality and build stronger mentorship networks to help female founders achieve growth and long-term success. Working with a leading organisation like J.P. Morgan, we maximise our value offering to female-founded companies and accelerate our shared mission to close the gender-based funding gap.”
Since being founded in 2016, The Vinetta Project has become a leading ecosystem and deal flow pipeline supporting early stage female founders. With more than 4,000 female founders and 10,000 community members, the Vinetta programming has helped to facilitate the flow of more than US$240m in early-stage venture funding to seed-stage technology startups. Working in collaboration with J.P. Morgan, this programme expands network access for female founders across the following four capital pillars that are critical to success: financial capital, personal capital, intellectual capital and social capital.
“This programme reinforces our ongoing commitment to fuel female ambition and advance financial equality, as exemplified by our Women on the Move programme, which expanded to serve our clients in 2018,” said Sam Saperstein, head of Women on the Move at JPMorgan Chase & Co. “With a shared mission to help female-led companies succeed, we are excited to work with The Vinetta Project and invest in capabilities that achieve greater inclusivity in the growing innovation economy.”
“By joining forces with The Vinetta Project, we can bring the depth of J.P. Morgan’s capabilities and resources to female founders to unleash their full potential at every stage of growth,” said Melissa Smith, head of Specialized Industries, Middle Market Banking at J.P. Morgan.
Through J.P. Morgan’s Innovation Economy business within Middle Market Banking & Specialized Industries, the firm serves high growth, early stage companies and founders throughout their business’s life cycle, providing the solutions they need to scale quickly, from credit and financing, treasury and payments, international banking, access to the Investment Bank, asset management and more.
Like this item? Get our Weekly Update newsletter. Subscribe today