Peanut, the maker of a social networking app for women, is entering into the investing space with today’s launch of a microfund called StartHER. As the name implies, the new fund will focus on investing in women, as well as other historically excluded founders “of all ages, life stages, ethnicities and sexual orientations,” the company says. In particular, StartHER aims to tackle the difficulties specific groups have in raising their first capital — something typically referred to as the “friends and family round.”
Peanut argues there’s inherent bias in assuming that every startup founder has access to what are, essentially, wealthy friends or family who can spare a little startup capital. These rounds often range in size from $10,000 to as large as $150,000 or more, and can make a difference when it comes to getting a new company off the ground.
“The assumption that founders should have networks able to invest in their businesses creates an unfair starting line for most groups. If we don’t remove barriers to that initial funding by providing access to capital, how can we ever hope to see a changing founder profile further through the fundraising funnel?” says Peanut CEO Michelle Kennedy, in a statement
This story was published at TechCrunch.com (kw:women,female) and provided for your interest.