The flagship fund of a UK government-backed initiative addressing the shortage of equity capital for women in the UK who are building businesses has reached a £130m first close of the fund, it said today.
The “Women Backing Women” fund is aiming to raise £250m in total to invest in female fund managers to back female-led businesses.
The initiative is a key part of the UK government-backed Women Taskforce, aimed at addressing the long-standing challenge of women struggling to secure investment capital.
Just 2p of every £1 of equity funding in the UK goes to female-founded businesses.
Today, Bootstrap4F, which is managing the fund of funds, said it had reached the £130m first close of its £250m raise, with investment from Barclays, the British Business Bank, M&G and Nationwide.
Bootstrap4F said it will now begin investing in fund managers.
Stephanie Heller, managing director at Bootstrap4F, said: “Securing £130m in commitments, with Barclays, the British Business Bank, M&G plc and Nationwide, is an exceptional outcome in this market. We have built the infrastructure to deploy capital efficiently, and the funds that have expressed interest so far are both strong and high in quality. We are committed to making every investment count.”
Minister for Investment Lord Stockwood said: "The UK is a thriving business hub, and this £130m investment into the Women Backing Women fund is a major moment in showcasing the power of government and industry in coming together to make a positive difference in our investment environment."
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