Jenny Abramson and Heidi Patel have successfully raised $250 million for their third Rethink Impact fund, making it the largest VC firm focused on funding female CEOs. This latest round of funding brings their total assets under management to over half a billion, with investors including Melinda French Gates and UBS. Despite a challenging fundraising environment in the venture capital industry, Abramson and Patel were able to close their Fund III in just one summer, attracting a diverse group of institutional investors.
The success of Rethink Impact’s latest fund comes at a time when efforts to promote diversity, equity, and inclusion are facing challenges. In recent years, female founders have continued to receive a small percentage of overall VC dollars, highlighting the need for dedicated funding for women-led businesses. Abramson’s personal experience as a CEO of a tech startup in 2013 underscored the disparities faced by female founders and fueled her commitment to changing the landscape of venture capital funding.
Rethink Impact’s track record of investing in companies led by women has proven to be successful, with portfolio companies such as Spring Health and Guild Education achieving significant valuations. By focusing on impact-oriented investments and maintaining a rigorous selection process, Abramson and Patel aim to generate strong returns for their investors while also advancing the cause of gender equality in entrepreneurship. Their dedication to supporting female founders has attracted investors and founders alike, who appreciate the hands-on approach and valuable connections they bring to the table.
Despite some skepticism about the wisdom of targeted funds like Rethink Impact, Abramson and Patel remain confident that their strategy will yield positive results. By focusing on underrepresented segments of the market and avoiding the pitfalls of VC bubbles, they believe they can generate financial returns while also driving social impact. Their commitment to supporting female founders and creating opportunities for women in the business world is evident in their continued success and the growth of their funds.
Through strategic networking and strong partnerships, Abramson and Patel have been able to help their portfolio companies thrive and access new opportunities for growth. Their connections with policymakers, investors, and industry leaders have proven invaluable in advancing the success of their portfolio companies like Parallel Learning and Candidly. By leveraging their extensive networks and industry expertise, Abramson and Patel have positioned themselves as leaders in the venture capital space and advocates for gender diversity in entrepreneurship.
As Rethink Impact continues to grow and make a significant impact in the venture capital industry, Abramson and Patel remain focused on their long-term goals of achieving gender parity in entrepreneurship. By supporting female founders, investing in impact-driven companies, and fostering a culture of inclusion, they are working towards reshaping the industry and creating opportunities for women-led businesses to thrive. With their latest fund raising success and their dedication to their mission, Abramson and Patel are poised to make even greater strides towards their vision of a more equitable and diverse venture capital ecosystem.
