Doing It For Themselves
Woman investing is booming. Just look at angel investing.
From New York to Seattle to Los Angeles, high-net-worth women are creating both informal and formal networks, and often the beneficiaries of this financial muscle-flexing are woman entrepreneurs.
"I have people e-mailing and calling me from around the country asking how they can start [angel investment networks] in their communities," says Kay Koplovitz, founder of the USA Networks cable channel and currently CEO of Working Woman Network. She is helping women start angel funds in major cities.
In Los Angeles, a fund created by Koplovitz and former California Treasurer Kathleen Brown is in the formative stages. Women in Chicago and Dallas are also exploring the possibilities. Below are some other woman angel networks:
- Seraph Capital Forum (www.seraphcapital.com), founded by Sue Preston in Kirkland, Washington, is a group of about 80 accredited angel investors in the Pacific Northwest, who look to provide first- and second-stage funding. Non-woman-owned companies may apply.
- Women First Capital Fund (www.womenfirstcapital.com), managed by founders Susan P. Strommer and Stephanie Loiacono, invests in firms with women serving in senior executive capacities, and those with products and services aimed at women or girls. It primarily targets companies in Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island and Vermont, and offers $250,000 to $2 million per company.
- WomenAngels.net (www.womenangels.net) is a $6 million Washington, DC, fund that invests approximately $300,000 to $750,000 per deal primarily in Maryland, Washington, DC, and Virginia.