August 13, 2019
ECMC Foundation and Chloe Capital have joined forces to provide funding to women entrepreneurs at the helm of early-stage ventures. Together, the organizations are hosting a trilogy of 1-day pop-up accelerators in the following cities:
These new funding opportunities are part of a National Tour for women-led innovation companies, which comes at a time when female founders receive less than 5 percent of all venture capital.
Five women-led companies will be selected to pitch their ventures in each city. The winners will receive investments of up to $250,000.
"We're excited to now partner with Chloe Capital to invest in women entrepreneurs," said Jessica Haselton, director of program-related investments, ECMC Foundation. "This Movement aligns perfectly with ECMC Foundation's mission to inspire and facilitate improvements that affect educational outcomes--especially among underserved populations."
Last year the Foundation began making program-related investments in companies aiming to improve educational outcomes and economic mobility among students from underserved backgrounds. ECMC Foundation provides flexible, risk capital to early-stage ventures and entrepreneurs through various programs which focus on innovation in postsecondary education.
In November 2017, Chloe Capital set out on a National Tour to invest in the most promising women-led innovation companies. Today, the New York-based VC firm is being recognized as a Movement that empowers approximately 11,000 founders, investors and innovation supporters.
"In collaboration with ECMC Foundation we're excited to announce the expansion of our Movement to LA, New Orleans and Charlotte," said Kathryn Cartini, partner, Chloe Capital.
"We're moving capital in each city we visit, and empowering women leaders with each step we take," added Elisa Miller-Out, partner, Chloe Capital.
Companies with creative innovations and ideas in Education Innovation, College Success, Career Readiness and Workforce Transformation are encouraged to apply for funding at ChloeCapital.com/funding. Companies do not need to be located in Los Angeles, New Orleans or Charlotte to pitch or receive investments. In addition to receiving funding from ECMC Foundation and Chloe Capital, founders will gain visibility and connections to top-tier investors.
About ECMC Foundation
ECMC Foundation is a Los Angeles-based, nationally focused foundation whose mission is to inspire and facilitate improvements that affect educational outcomes—especially among underserved populations—through evidence-based innovation. It is one of several affiliates under the ECMC Group enterprise based in Minneapolis. ECMC Foundation makes investments in two focus areas: College Success and Career Readiness; and uses a spectrum of funding structures, including strategic grantmaking and program-related investments, to invest in both nonprofit and for-profit ventures. Working with grantees, partners and peers, ECMC Foundation's vision is for all learners to unlock their fullest potential. ECMCFoundation.org
About Chloe Capital
Chloe Capital is more than a VC firm - we're a Movement. Despite recent progress, less than 5% of women-led companies receive venture capital in the U.S. Yet companies with women leaders statistically perform better and produce greater returns for investors. In partnership with foundations, universities and corporate innovators, Chloe Capital has set out on a national tour to #InvestInWomen. ChloeCapital.com