A group of local women who have been working on creating opportunities for female founders has partnered with Golden Seeds, a national network of visionary investors that has funded women-led companies all over the country, to launch a chapter in Arizona, its eighth in the U.S. Since 2005, Golden Seeds’ members – currently more than 300 strong – along with its venture funds, have invested over $125 million in more than 170 exciting women-led enterprises and counting.
Founded in New York City in 2005, at a time when only 3% of the companies receiving early-stage venture capital were women-led ventures, Golden Seeds is among the first organizations to focus on supporting this underserved, yet high-potential market. The Golden Seeds angel investment focus is in three general areas: enterprise technology companies, healthcare, and consumer product and services companies. Golden Seeds has chapters in Atlanta, Boston, Dallas, Houston, New Jersey and Silicon Valley, and boasts active investing members throughout the country.
“Extensive research shows that gender diverse teams produce better return on equity,” said Loretta McCarthy, Managing Partner of Golden Seeds and a former Phoenician. “We are excited to provide capital and mentoring for women-led businesses that will play a key role in further enabling the growth of Arizona’s innovation economy.”
The launch of the chapter in Arizona is a boost to the local angel investor market and particularly valuable in the contribution it will have on the market for women investors in the Valley. The group’s founding team includes Mara Babin, Carrie Borgen, Francine Hardaway, Jenny Holsman Tetreault, Mitzi Krockover, Heidi Jannenga, Ulya Khan, Kathy Lynn-Cullotta, Sidnee Peck, Kathy Sacks and Teri Twarkins Kelley.
“I have been encouraging Golden Seeds to launch a chapter in Arizona and am thrilled to see this new partnership with our dynamic, women-led businesses,” says Phoenix Mayor Kate Gallego. “We are America’s fastest growing city and home to so many strong entrepreneurs, so we are a great place for Golden Seeds to invest.”
The local chapter will launch its monthly “office hours,” a Golden Seeds effort to find and mentor promising Arizona-based women entrepreneurs, on Nov. 13, 4pm-6:30pm at CEI Gateway. Additionally, Golden Seeds members will present future educational training sessions on a series of angel investing topics.
“Arizona is a top location for entrepreneurship, and this new Golden Seeds chapter will provide an important resource for our founders, especially women,” said Sandra Watson, President and CEO of the Arizona Commerce Authority. “This is excellent news for the innovation ecosystem in Arizona and I look forward to the future success of this chapter in our state.”
Investors and entrepreneurs interested in getting more information about the Arizona chapter of Golden Seeds should contact klynn-cullotta@goldenseeds.com.
