Melinda Gates Backs Largest VC Fund Run by Women

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By Sarah McBride

January 23, 2018 at 11:30 AM UTC

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Aspect Ventures founders Jennifer Fonstad and Theresia Gouw raised $181 million for their second fund, making their firm the biggest venture outfit created and run by women.

Melinda Gates, co-chair of the Bill & Melinda Gates Foundation, gave Aspect Ventures a vote of approval with an investment in the new fund. Gates is a vociferous critic of the gender gap in venture capital, citing the disproportionate numbers of male entrepreneurs who receive funding and the men who make those investment decisions. Aspect Ventures has said it aims to invest in startups with diverse teams.