California VC firm launches US$20m fund to support femtech start-ups

California-based venture capital firm, Amboy Street Ventures, has closed its debut US$20m fund to support femtech and sexual health start-ups.

Amboy Street, founded by investor and former engineer Carli Sapir, is the world’s first investment firm dedicated to the growth of women’s health and sexual health start-ups and is supported by general partners Dominique Karetsos and Dr Maria Godoy.

The company says it will invest in the Seed and Series A stages of women’s health and sexual health start-ups to both lift associated stigmas and usher forward a new world of inclusive health and wellbeing.

“The women’s health and sexual wellness space is a trillion-dollar market opportunity,” Sapir said in a statement.

“The lack of historical investment in these industries – less than five per cent – has stunted the innovation needed to address women’s health and sexual health issues.

“Our goal is to back innovative start-ups that are filling major market gaps and improving the health and wellbeing of people around the world.”

The firm has already invested in eight start-ups and realised its first exit as the telehealth platform Gennev was acquired by Unified Women’s Healthcare.

Other startups in its portfolio include testing start-up Evvy, telehealth platfrom Hey Jane, women’s health provider HerMD and period care platform Aunt Flow.

Colleen Foster, former Goldman Sachs partner, and treasurer of Planned Parenthood Federation of America, said: “The decision to invest in Amboy Street was an easy one for me.

“The economics of investing in women and their healthcare from puberty to post-menopause produce outsized returns.

“Our founders are solving problems that a century of underinvestment has ignored. Not only do I feel a moral imperative to drive capital to underserved communities and businesses, I also strongly believe that gender equity won’t be achieved in my lifetime without it.

“I knew from my first meeting with Carli Sapir that she was the investor I wanted to back. I was impressed with her market analysis, underwriting criteria, founder selection, and the personal brand she had built in a short period of time.”