Gender-lens fund receives €30 million investment from EIF

The European Investment Fund (EIF) has invested €30 million in a venture capital fund, Sistafund, that supports startups led by women entrepreneurs and gender-balanced teams.

Sistafund will be addressing the financial gap faced by female startup founders in Europe with a target of €100 million, according to the EIF, investing in companies where women hold at least 30 per cent of the founder shares.

The Sistafund team will operate independently through its management company, Sunshine.

The fund will focus on health tech, sustainability, frontier tech such as AI and deep tech, and inclusive fintech and insurtech.

“Encouraging the presence of women entrepreneurs in tech has long been a priority for me,” said Clara Chappaz, secretary of state for artificial Intelligence and digital affairs, in a press statement. who re

“I enthusiastically welcome the European Investment Fund’s investment in the Sistafund. This initiative represents a concrete response to the persistent inequalities in access to financing, while women founders still account for only 2 per cent of funds raised.

“This project is valuable recognition of the hard work carried out by Tatiana Jama and the Sista collective since 2018. I’m particularly happy to see Europe mobilize to accelerate our potential for innovation on this crucial issue.”

So far, Sistafund has supported seven  companies as well as European entrepreneurs.

“The support of the European Investment Fund marks a major milestone in our journey,” founder and managing partner of Sistafund Tatiana Jama said in the statement.

“We are redefining venture capital by backing female founders and gender-balanced teams. We are unlocking the untapped potential of women entrepreneurs and setting a powerful example for future generations across Europe and beyond.

“This is the first of many funds committed to fostering diversity, proving that inclusive teams will be a crucial element in driving innovation forward.”

“We have a unique opportunity to demonstrate that investing in diversity pays off, as many studies have suggested already,” added managing [artner of Sistafund Isabelle Gallo.

“We’re not narrowing our dealflow pool; instead, we’re adding an additional criterion to define what makes an exceptional team: just as we evaluate a team’s potential based on their grit and profound drivers, we equally prioritise diversity as a crucial factor for success.

“By investing as early as possible and taking significant stakes from the onset, we ensure that we put our money where our mouth is and that diversity becomes a cornerstone of our portfolio companies’ growth stories.”

EIF chief executive Marjut Falkstedt commented: “Supporting Sista reflects our strong commitment to gender equality and is in perfect alignment with the EIF and InvestEU’s objectives of promoting diverse venture capital teams and entrepreneurship.

“This will in turn serve to strengthen the entire European venture capital ecosystem by increasing gender diversity at all levels.”