A New Zealand growth fund aimed at supporting women in business has found a global partner to expand with.
Even Capital says 2XCollaborative supports women-led businesses through education and other systems. (File image) Photo: 123RF
Even Capital, a growth fund founded, funded and focused on women, has joined London-based 2X Collaborative, a global industry body.
Even Capital co-founder and managing partner Sarah Park said it was looking to grow in Asia-Pacific and had already invested more than $7 million in New Zealand-based businesses since it was established last year, with a portfolio of companies which included Sharesies, Orbis Diagnostics and Easy Crypto.
"The traditional venture capital ecosystem is teeming with obstacles for women," and the lack of funding going to women business founders was frustrating or unfair, Park said.
Even Capital was looking at making a few other investments in New Zealand this year, as well as Australia and was also looking to co-invest with 2XCollaborative members, in the wider Asia Pacific region.
2XCollaborative had raised $US11.4 billion under its 2X investment criteria since its launch at the G7 Summit in 2018.
Park said 2XCollaborative supported women-led businesses through education and other supports, such as peer learning networks, knowledge, co-investment platforms, partnership and training opportunities, and innovative investment tools.
2X Collaborative chief executive Jessica Espinoza said the organisation was "thrilled to welcome Even Capital as its first member from New Zealand".