Female Founders Investing in the Next Generation of Female Founders; XFactor Ventures Announces its Second Fund.

NEW YORK–(BUSINESS WIRE)–XFactor Ventures, a venture capital firm focused on making pre-seed and
seed stage investments in companies with at least one female founder
that are pursuing billion-dollar market opportunities, today announced
that it has launched its second fund with $8.6 million in capital
commitments.

The fund is led by current successful female founders who leverage their
operating backgrounds, insights, and expertise to provide capital,
connections, guidance, and mentorship to the companies in which the fund
invests. Collectively the team has founded 28 companies, raised over
$550 million in venture capital, and hired thousands of employees.

The firm’s “Fund 2” nearly tripled in size from a $3m Fund 1, has more
than doubled the number of female investment partners from 9 to 22, and
will invest $150,000 into 53 companies during its lifespan. “When we
started XFactor, we saw the opportunity to build the largest network of
current female founders investing in new female-founded companies
pursuing billion-dollar opportunities,” said Anna Palmer, co-founder and
XFactor investment partner. “We successfully proved this out with
XFactor 1 and, given the current landscape of women in VC and limited
venture money still going toward female founders, we set out to build
Fund 2 on a much larger scale.”

In XFactor’s short two year history, the team has made 28 investments,
and the portfolio is already showing signs of success with many
companies raising follow-on capital at increases in valuation. Notable
companies include New York-based Chief and MixLab, Seattle-based The
Riveter, San Francisco-based CourtBuddy and Vinsight, and New
Orleans-based BATON Financial.

Chip Hazard, co-founder and XFactor investment partner said, “As
founders themselves, each investment partner has the insight to know who
has what it takes to succeed, the insights and willingness to take a bet
on entrepreneurs at the earliest stage, and the experience to help those
companies succeed.” He continues, “XFactor 2’s team will increase to 23
investment partners, including myself, and expand across 6 cities. Our
Industry expertise ranges from B2B Software, to FinTech, AgTech,
Healthcare, to consumer marketplaces and products. This gives us the
ability to dive in head first and be helpful to our portfolio companies
on a much deeper level.”

The goal of XFactor Ventures is threefold: To make a difference for the
next generation of female founders by providing them with needed
capital, connections, guidance, and mentorship to build billion dollar
companies, to increase the ranks of female investors in the venture and
angel investing community, and to generate venture returns by making
investments in companies that have the opportunity to build significant
scale and create value accordingly.

Palmer says, “we built XFactor Ventures with the belief that if we have
more women investors, more women founders will get funded. Each of us
has been through the funding process and are here with the goal of
growing the pool of female investor talent while also opening our unique
networks to the wider female entrepreneur community.”

About XFactor Ventures

XFactor Ventures is focused on making pre-seed and seed stage
investments in companies with billion dollar marketing opportunities
that have at least one female founder.

Led by current successful female founders who leverage their operating
backgrounds, insights, and expertise to provide capital, connections,
guidance, and mentorship to the companies in which the fund invests —
the fund was launched in July 2017 with the purpose of serving the
undervalued female-founder market.

XFactor invests $150,000 at the earliest of stages, where it is often
the hardest for female founders to secure funding. The firm operates
with the speed of angel investors but with the experience,
relationships, and connectivity of a traditional venture firm that can
help founders build and finance their company going forward.

To learn more, please visit: https://www.xfactor.ventures/

Contacts

Keegan Forte
keegan@flybridge.com

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