An investment fund for women entrepreneurs

Genevieve Thiers says successful women need to give back to other female entrepreneurs — and with a new investment fund, High Note Enterprises, she’s backing that belief with cash.

“Everyone says — and they’re right — that women that make it need to give back,” said Thiers, who co-founded and previously served as CEO of Sittercity. com. She said she’s using some of the money she earned from a partial merger with Bright Horizons Family Solutions in 2011 for the $150,000 fund.

With a dual goal of making money and boosting women entrepreneurs, High Note will invest in companies run by women who are solving problems for women, Thiers said.

An accomplished opera singer, Thiers said the name “High Note” is a nod to that, but also “that I ended my first company on a high note, so I want to give back.”

Thiers said she has already made a few small investments: $25,000 in MoxieJean, the Chicago-based resale site for baby, child and maternity clothing and accessories, plus $2,000 to $10,000 seed investments in a couple of other companies in Chicago and New York.

“It’s enough to make a real difference when they’re at those launch stages,” Thiers said. “When they’re going around and talking to investors who probably don’t understand their industries, I’m there.”

Thiers acknowledged that her fund is on the small side but said she hopes to set an example for other successful women entrepreneurs.

“I do think there are other women out

“I do think there are other women out there who have been successful who are kind of clutching onto their winnings wondering what to do with it.”

— Genevieve Thiers

there who have been successful who are kind of clutching onto their winnings wondering what to do with it,” Thiers said.

Thiers said she’d invested a bit in the past with her husband, serial entrepreneur Dan Ratner, with whom she co-founded Sittercity. High Note marks her debut as an independent investor, which she said was overdue.

“Women have been approaching me for quite a long time,” Thiers said, and she asked herself, “Why am I making excuses? If I don’t stand up and do this, who’s going to?”

Thiers is the only investor in High Note. She said she would love to work with other women investors to grow High Note but she knows “so few women in tech that have funds to be able to contribute.” Thiers said she will continue investing on her own if no one is able to join her.

Jeffrey Sohl, director of the center for venture research at the University of New Hampshire, said the size of the fund will limit the number of deals High Note can do, and that Thiers will likely have to join other investors in funding rounds.

“I think as far as a pure investment fund, it’s going to be tough to make an impact on this level,” Sohl said. But he applauded Thiers’ focus on women and said if that is also a goal, “I think she’ll be very happy and successful with that endeavor.”

Thiers has been vocal about supporting Chicago women in tech in recent months. She provided feedback to 1871 (she sits on the board of its parent, the Chicagoland Entrepreneurial Center) on its delayed women in tech initiative, WiSTEM.

“I think there’s a wonderful push right now in Chicago to do things for women in tech. There has been a lot of attention placed on the issue, and there are a lot of people throwing their hats in the ring to help,” Thiers said. “I think there’s been a lot of wanting to help, but I think people don’t understand the enormity of the issue.”

MoxieJean founder and CEO Sharon Schneider said Thiers is known as a “goto” female founder and she’s excited that Thiers is moving from the role of mentor to investor.

“I hope it means that other women will follow her lead,” Schneider said.