Sofia Angel Fund II, LLC announces the successful first closing of its angel investment fund targeting women-led growth companies with $3.925 million of capital investment commitments.
The Sofia Fund focuses on investing equity in early stage, growth companies that are women-led and which operate principally in information technology, clean technology, health and wellness, and business products and services. The angel investment fund expects to concentrate its investing in companies located in the midwest, and plans to bring resources, experience and expertise to help the businesses in which it invests achieve success.
The Fund is co-founded and managed by five experienced and successful women business leaders and investors, each of whom have been an active angel investor for multiple decades. Cathy Connett is the CEO of the Sofia Fund and the other members of the management team are Lisa Crump, Joy Lindsay, Barb Stinnett, and Dee Thibodeau. Investors in the Sofia Fund include a number of individuals who are committed to increasing funds available to early stage companies, particularly in women-led companies that have historically been underserved by private investors.
Cathy Connett, CEO said: “Angel investing is an important component in the economic development of communities since angels often take the risks associated with early stage funding of companies that provide innovative new businesses and jobs for a community. The Sofia Angel Fund was created because the management team believes, based on its extensive investment experience in growth companies, that there are many exciting women-led growth companies that might otherwise have difficulty finding funding and will therefore benefit from a focused angel fund. According to a recent study from Babson College, the Venture Capital community is currently only providing 9-13 percent of their dollars to women-led, early stage companies even though an April 2013 SBA study has demonstrated that Venture Capital companies who invest in women-led companies perform better. The Sofia Fund wants to lead the way in changing the pattern of investment in women-led companies.”
A second closing for the Sofa Fund will be held in the next few months and is projected to bring aggregate capital commitments in excess of $5 million to the Fund.