JumpFund raises $5.2 million more
One of the first all-female venture capital funds in the South has raised another $5.2 million for investments in women-headed companies.
The JumpFund, which was launched in Chattanooga in 2013, has invested its initial $2.5 million in capital in 18 businesses headed by women leaders from Louisville to Memphis to Atlanta. The JumpFund launched its second fund in early 2017 and has already made investments in nine women-led ventures, five of which are followon investments in current portfolio companies.
JumpFund II was raised to continue to highlight the large gap in access to capital for women-led ventures, as well as to increase the number of women as “angel” investors.
“We are investing in the change we want to see by engaging women’s capital to invest in women-led ventures with a vision to ultimately level the playing field for women building successful, high growth companies,” said Kristina Montague, managing partner for the Chattanooga-based venture fund.”
While initial funding for the JumpFund came only from women investors, JumpFund II has a “few good men” investing who also see the return potential and market gap for women entrepreneurs, Montague said. JumpFund II has investment from individuals and institutions across the Southeast and as far away as Denver, Seattle and Boston.