NM to invest $20M in female-founded startups
Northwestern Mutual Future Ventures announced that it will dedicate $20 million of its funding to invest in startup companies founded by women. This funding allocation will advance the company’s investment strategy of engaging startups whose technologies have the potential to transform how clients experience financial security, as well as increase focus on technological disruption.
Female-founded startups receive less than three percent of the approximately $80 billion in venture capital annually. Companies founded by both men and women receive around eight percent of the total capital, coming second to male-founded companies that secure 89 percent of all venture capital invested globally each year.i
“Women play an essential role in financial decision-making for themselves and their families and by investing in women-owned startups, we can create more opportunities for women through a dedication of funds, but also gain strategic insights to better serve our clients,” said Souheil Badran, chief operating officer and executive vice president, Northwestern Mutual. “We’re committed to supporting female entrepreneurs and providing access to capital and resources to help them grow their businesses. Allocating $20 million is only the beginning – we will continue to invest in and provide opportunities for female founders.”
Since launching in 2017, the Future Ventures Fund has invested more than $50 million in 18 startups that align with Northwestern Mutual’s investment strategy and goals. Beyond providing capital, Northwestern Mutual is a strong venture partner that offers the unique advantage of the industry-leading financial strength and scale of a Fortune 500 combined with an entrepreneurial culture.