Investing in Exceptional Women-Led Growth Businesses

Has been our business since 1998
*

The average woman-owned business makes 20% more revenue
with 50% less investment than other companies.

Imagine what the above-average can do.

We’re Sofia Fund. And we find, invest in and grow those exceptional women-led companies.

We work side-by-side with our entrepreneurs, connecting them with resources and
taking
them – and our co-investors – to profitable exits.   

As business owners, we understand what it takes to build a successful company.
And we’ve invested more than $10 million in over 50 companies.

You could say we’re no ordinary angels. 

We go beyond achieving parity for women entrepreneurs
by releasing their tremendous financial opportunity.

We are Sofia Fund.

If you are a woman led team with a compelling business
or a co-investor interested in our portfolio, join us.
  

Focus

Gender-diverse teams with disruptive, scalable business models that use technology to solve real problems. Demonstrated validation of the value proposition is important. Interested in businesses where our investment can be leveraged by the additional resources and support Sofia can bring to foster success. Particular areas of interest are:

  • Woman Working on Futuristic Screen
    Information Technology and Managed Services

    Information Technology: 

    Two of our managing partners have extensive experience as operators and investors in a variety of information technology businesses, including those that employ software, hardware, apps, analytics, IoT and/or AI technology and provide transformative, value-added outcomes for businesses and consumers.

  • Businesswoman Using a Smartphone
    Business Products and Services

    Business Products and Services: 

    One of our managing partners has been a serial entrepreneur in this space.  Another has lengthy experience with a wide variety of technology innovations that will enhance business processes and operations.

  • Technology Investments
    Technology

    Technology:  

    Technologies that provide value to businesses and create change — whether it be materials-based, green-focused, IoT, or new electronic capabilities. All are of interest.  

  • Stethoscope on a Computer
    Health and Wellness

    Health and Wellness: 

    Technology (materials, IT, analytics) applied to the health and wellness market space is an area in which we are very interested and involved.  Our networks and resources in the health and wellness space are extensive.

  • Woman Working on Futuristic Screen
    Information Technology and Managed Services

    Information Technology: 

    Two of our managing partners have extensive experience as operators and investors in a variety of information technology businesses, including those that employ software, hardware, apps, analytics, IoT and/or AI technology and provide transformative, value-added outcomes for businesses and consumers.

  • Businesswoman Using a Smartphone
    Business Products and Services

    Business Products and Services: 

    One of our managing partners has been a serial entrepreneur in this space.  Another has lengthy experience with a wide variety of technology innovations that will enhance business processes and operations.

  • Technology Investments
    Technology

    Technology:  

    Technologies that provide value to businesses and create change — whether it be materials-based, green-focused, IoT, or new electronic capabilities. All are of interest.  

  • Stethoscope on a Computer
    Health and Wellness

    Health and Wellness: 

    Technology (materials, IT, analytics) applied to the health and wellness market space is an area in which we are very interested and involved.  Our networks and resources in the health and wellness space are extensive.

Investment Criteria

 Sofia Fund is interested in companies with:

  • Excellent, experienced management team
  • Scalable business model
  • Proprietary positioning
  • Growing, large markets
  • Well-defined, demonstrable business model with proof of concept revenue
  • Future exit that can be leverage with Sofia’s network and resources

Typical investments by Sofia are from $100,000-$500,000 in $500,000-$2 million rounds of equity. We are looking for opportunities where ideally there are no more than 2-3 subsequent funding rounds and exits are within 3-5 years.   Preferred investment are in the form of preferred stock in C corporations.

Sofia Application Process:

Companies should apply directly to Sofia Fund using the application link on this site.  We are currently investing from Sofia Angel Fund II, LLC.

Deals are reviewed regularly by the screening committee and interest will be communicated. Deals of interest will be asked to present to the Sofia Fund managing partners, which will be followed by due diligence, if appropriate. 

Team

Managing Partners

  • Cathy Connett
  • Lisa Crump
  • Joy Lindsay
  • Dee Thibodeau - Investor
    Dee Thibodeau

Fund Advisory Board

  • Deb Bauman, Advisor
  • Brigid Bonner, Advisor
  • Jeannine Rivet, Advisor
  • Barbara Stinnett - Investor
    Barb Stinnett, Advisor

Current Women-Led Portfolio Companies

Since 1998, Sofia Fund and its managing partners have invested more than $10M in over 50 companies.

  • Sofia Fund II

    Focuses on the development of small molecule therapeutics targeting the toxic proteins that cause Alzheimer’s.

    More about Cognition Therapeutics

  • Sofia Fund II

    A marketplace platform that provides a storefront for moms to buy and sell the latest styles for their kids and builds a vibrant community that connects moms with other moms through shared experiences and a shared sense of style.

    More About Kidizen

  • Sofia Fund II

    A technology platform created to increase the success and engagement of women in the workplace, and to enable enterprises to attract, develop, and retain high-potential diverse talent.

    More About Landit

  • Sofia Fund I

    A girls’ magazine and online communities of girls, parents, and allies helping girls find their voice and resources to help them cope with the challenges of growing up in today’s world.

    More about New Moon Girls Media

  • Sofia Fund II

    Developing leading-edge technology to transform traumatic brain injury diagnosis, bring personalized medicine to concussion diagnosis and treatment, and improve outcomes for the millions of people who annually suffer TBI and concussion.

    More about Oculogica

  • Sofia Fund I and II

    A clinical stage biotechnology company revolutionizing the treatment of debilitating gastrointestinal (GI) diseases by harnessing the power of the human microbiome. Rebiotix develops standarized and stabilized, regulated drug products that restore the gut microbiota.

    More about Rebiotix

  • Sofia Fund I

    Vixar manufactures both standard and custom designed short wavelength (660nm to 1000nm) VCSEL-based optical components and subassemblies for sensor and device applications within the biomedical, industrial, office product, automative and consumer industries.

    More about Vixar

  • Sofia Fund II

    Focuses on the development of small molecule therapeutics targeting the toxic proteins that cause Alzheimer’s.

    More about Cognition Therapeutics

  • Sofia Fund II

    A marketplace platform that provides a storefront for moms to buy and sell the latest styles for their kids and builds a vibrant community that connects moms with other moms through shared experiences and a shared sense of style.

    More About Kidizen

  • Sofia Fund II

    A technology platform created to increase the success and engagement of women in the workplace, and to enable enterprises to attract, develop, and retain high-potential diverse talent.

    More About Landit

  • Sofia Fund I

    A girls’ magazine and online communities of girls, parents, and allies helping girls find their voice and resources to help them cope with the challenges of growing up in today’s world.

    More about New Moon Girls Media

  • Sofia Fund II

    Developing leading-edge technology to transform traumatic brain injury diagnosis, bring personalized medicine to concussion diagnosis and treatment, and improve outcomes for the millions of people who annually suffer TBI and concussion.

    More about Oculogica

  • Sofia Fund I and II

    A clinical stage biotechnology company revolutionizing the treatment of debilitating gastrointestinal (GI) diseases by harnessing the power of the human microbiome. Rebiotix develops standarized and stabilized, regulated drug products that restore the gut microbiota.

    More about Rebiotix

  • Sofia Fund I

    Vixar manufactures both standard and custom designed short wavelength (660nm to 1000nm) VCSEL-based optical components and subassemblies for sensor and device applications within the biomedical, industrial, office product, automative and consumer industries.

    More about Vixar

Exited Women-Led Companies

  • Sensor-based equipment for the aerospace, environmental and process control markets.

    Acquired by Ecolab.

     

  • Trusted experts in sun safety, Coolibar designs, manufactures, and markets sun protection clothing.

    Acquired.

  • Life science tools focused on the area of nucleic acid purification products.

    Acquired by Qiagen.

  • Consumer research and advisory firm that provides consumer trend and market research services.

    Acquired by CEB.

     

  • Technology-based strategy and marketing firm aligned with Salesforce.com.

    Acquired by Mindtree.

     

  • Provides clinically proven, at-home treatment options for lymphedema and chronic venooous insufficiency with continuity of care, service, support that helps improve outcomes, reduce costs and gives people their lives back.

    IPO

  • Data storage solutions.

    Acquired by Seagate.

  • Sensor-based equipment for the aerospace, environmental and process control markets.

    Acquired by Ecolab.

     

  • Trusted experts in sun safety, Coolibar designs, manufactures, and markets sun protection clothing.

    Acquired.

  • Life science tools focused on the area of nucleic acid purification products.

    Acquired by Qiagen.

  • Consumer research and advisory firm that provides consumer trend and market research services.

    Acquired by CEB.

     

  • Technology-based strategy and marketing firm aligned with Salesforce.com.

    Acquired by Mindtree.

     

  • Provides clinically proven, at-home treatment options for lymphedema and chronic venooous insufficiency with continuity of care, service, support that helps improve outcomes, reduce costs and gives people their lives back.

    IPO

  • Data storage solutions.

    Acquired by Seagate.

Resources

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News

Sofia Fund Achieves Exit

Rebiotix, Inc., Announces Its Acquisition   APRIL 9, 2018 (Minneapolis) — Sofia Fund, a leading angel investment firm focused on high-growth, women-led early stage companies, today announced that its portfolio company, Rebiotix, Inc., is being acquired by Ferring Holding, Inc., a U.S.-based subsidiary of Ferring Pharmaceuticals, a Swiss-based, privately-held, biopharmaceutical company.  Rebiotix is a microbiome company and will become the Microbiome Center of Excellence for Ferring, retain the Rebiotix name, and operate as a wholly owned subsidiary. Sofia Fund held investments in Rebiotix in both Sofia Fund and Sofia Fund II. For investors in the first Sofia Fund, this is the third exit from their original portfolio of nine companies. This is the first exit for Sofia Fund II, which started investing in 2015. The exit will provide a positive return to investors in both funds with additional payouts based on performance milestones of Rebiotix. “This is an exciting transaction for the women-led entrepreneurial community as one of its role models, serial entrepreneur and Rebiotix President and CEO Lee Jones, leads the company into its next stage,” said Joy Lindsay, Sofia Fund managing partner. “This development further reinforces the fact that women-led companies, often overlooked by venture capitalists, continue to grow exciting, successful businesses with compelling value propositions and innovative products that address significant market needs.” “Sofia Fund was one of our earliest investors,” said Jones, whose experience includes leading Inlet Medical, where she led its turnaround to profitability and ultimate sale. “Sofia Fund managing partners have deep experience in recognizing the potential of early stage companies, having invested in more than 50 companies over the course of 30...

Sofia Fund Makes Third Investment in Cognition Therapeutics

Sofia Fund recently announced its third investment in Cognition Therapeutics, Inc. (CogRx), a Pittsburgh-based biopharmaceutical company that discovers, develops and manufactures innovative therapeutics for the treatment of Alzheimer’s disease and other neurocognitive disorders. The Sofia Fund investment was part of Cognition Therapeutic’s most recent financing round, through which the company hopes to raise up to $5 million. “CogRx continues to hit its milestones, which are significant advancements in the development of breakthrough drugs that protect synapses, stopping the memory loss associated with Alzheimer’s disease,” said Cathy Connett, managing partner of Sofia Fund, and a 25-year angel investor in early stage companies, particularly those that are women-led. “We believe in the value proposition of the company. Its products address a significant problem – the threat of Alzheimer’s – that affects a large population: five million people in the U.S. alone currently live with the disease.”  Connett adds that the investment team at Sofia Fund also recognized the strength of the company’s diverse leadership team and its vision. “Sofia Fund has been a strong funding partner from the start,” said Cognition Therapeutics Chief Science Officer Dr. Susan Catalano, who co-founded the company in 2007. “This investment in our research comes at a critical time. We are about to begin key clinical trials with Elayta™ (CT1812) in Alzheimer’s disease patients in the United States. Alzheimer’s is the sixth-leading cause of death in this country, killing more people each year than breast and prostate cancer combined.” Cognition is focused on advancing the development of Elayta, an experimental medicine that is designed to protect synapses from one of the toxic proteins that causes Alzheimer’s...
Angels Tell the Truth: What Makes a New Company Fundable

Angels Tell the Truth: What Makes a New Company Fundable

By Cathy Connett, CEO and Managing Partner, Sofia Fund   There’s more than $100 billion dollars currently being invested annually by venture capitalists, private equity firms and angel investors.  Why do some businesses get a piece of the action and others don’t? It comes down to the fundability of the company. Entrepreneurs may think they have a great business idea, but investors may not see it that way. To learn why, entrepreneurs need to look at their business from the investor’s point of view. Just like the founder, investors are looking for a match made in heaven – when both company founder and investor make money in the end and all live happily ever after. As an experienced angel investor, managing partner and CEO of Sofia Fund, here’s my advice – consider this the ultimate primer on demystifying the angel world. Know Your Angels It’s not fake news that billions of dollars are being invested in start-up and early stage companies. But it’s important to know the facts about where those dollars are going – and why. Angel investing is done by a community made up of individuals, networks and funds that focus on early stage companies. In 2017, angels and other early-stage venture capitalists invested more than $37 billion in companies, according to PitchBook, which tracks every aspect of venture capital. That’s $10 billion more than later-stage venture funders. Additionally, $19.1B in overall investment went into 73 unicorns (those companies with greater that a $1 billion valuation), like Outcome Health, Uber and Reddit. While unicorns attract 23% of the invested capital, they represent less than 1% of the...

Apply

Companies should apply directly to Sofia Angel Fund II by clicking the button in this section.

Contact

Email Us  • Phone 651.699.9614
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