Alumni Ventures Doubles Down on Female Founders with Women’s Fund
Backed by one of the most active VC firms investing in women-led startups, AV’s Women’s Fund III targets the venture market’s most persistent mispricing—and one of its strongest performance signals
MANCHESTER, N.H., March 24, 2026 (GLOBE NEWSWIRE) -- At 33, after earning graduate degrees from Harvard and MIT, Bridgit Mendler closed a $100M Series B co-led by Andreessen Horowitz and secured a $49.8M contract with the U.S. Space Force. Her company, Northwood Space, builds satellite infrastructure—and she built it from scratch in three years, in one of the most male-dominated corners of tech.
Mendler is one of more than 400 women founders and leaders backed by Alumni Ventures (AV), one of the world’s most active venture capital firms. Today, AV announced the launch of Women’s Fund 3, the next chapter in its dedicated strategy investing in companies founded or led by women. The fund is open to accredited investors, with a first-round closing date of April 30, 2026.
The Market’s Blind Spot
Women start nearly half of all new U.S. businesses, yet female-only founding teams received just 2.3% of total global VC funding in 2024[1]. Many believe the reason is structural: venture capital runs on pattern recognition, and with 83% of VC decision-makers being men[2], investors gravitate toward founders who look like past successes. The result is a self-reinforcing cycle that systematically overlooks high-performing founders.
But the data tells a different story. When female founders do get funded, they outperform on nearly every metric that matters: 15–25% lower burn rates, 10% more cumulative revenue over five years despite receiving less than half the average investment of male peers, and $0.78 in revenue per dollar of funding versus $0.31 for male-founded startups[3]. Female-founded companies also reach liquidity an average of six months faster.
“This isn’t a narrative about potential—it’s about performance,” said Laura Rippy, Managing Partner and leader of the Women’s Fund. “The data is unambiguous. Female founders who clear the funding bar are among the most capital-efficient, resilient operators in venture. Fund 3 is built on that conviction.”
What Happens When Exceptional Founders Get Capital
The Women’s Fund’s track record offers a case study in what the broader market is missing. Through its first two vintages, the fund has backed companies led by founders who are redefining their industries:
Jay Graber left a career in software engineering and digital rights activism to lead Bluesky, the decentralized social network originally incubated at Twitter. When Jack Dorsey tapped her to lead the team, she accepted on one condition: full legal independence from Twitter—a decision that saved the company from being liquidated during the X acquisition. With a team of just 35, she steered one of the fastest growth surges in social media history: 40 million users and a $700 million valuation on only $23 million in prior funding.
Pranitha Patil left Harvard early to build Function Health, a preventative care platform, after years watching the healthcare system fail patients—including herself. Function Health reached a $2.5 billion valuation within two years and closed a $298 million Series B in 2025.
“This is what can happen when exceptional founders get access to capital,” Rippy said. “The window to back overlooked, high-performing founders before the market corrects its blind spots won’t stay open forever.”
Fund Details
Women’s Fund Vintage III will target a diversified portfolio of approximately 20 investments in high-growth startups across sectors including space, cybersecurity, AI, and healthtech. The fund is led by an all-female investment team and supported by Alumni Ventures’ broader venture platform, which includes one of the largest networks of venture-focused investment professionals and a robust deal-sourcing ecosystem.
As a community-powered venture capital firm, AV brings network-driven sourcing and portfolio support to the Women’s Fund strategy—connecting founders with mentors, advisors, and fellow investors across its national footprint.
For more information about the Women’s Fund Vintage 3, visit https://www.av.vc/funds/womens
About Alumni Ventures
Founded in 2014, Alumni Ventures (AV) is one of the world’s most active venture capital firms. With more than $1.5 billion in committed capital from over 11,000 accredited investors, AV is democratizing venture capital by expanding access to professional, high-quality venture investment opportunities. AV’s extensive portfolio spans over 1,600 current and historical companies across diverse sectors and stages. Learn more at av.vc.
Media Contact
Gregory for Alumni Ventures
alumniventures@gregoryagency.com
[1] Women in VC & Startup Funding: Statistics & Trends (2025 Report)
[2] All In - Female Founders in the VC Ecosystem (2024)
[3] Theanna - The State of Female Founders (Q3 2025)
This communication is neither an offer to sell, nor a solicitation of an offer to purchase, any security. Such offers are made only pursuant to the formal offering documents for the fund, which describe the risks, terms, and other important information that must be carefully considered before any investment is made. Portfolio companies are shown for illustrative purposes only; not necessarily indicative of any AV fund or investor. Investments shown are not available to future investors, except potentially in the case of follow-on investments. Past performance does not guarantee future results. No representation is intended that any investment outcome presented is representative of the experiences of any AV Fund or investor. Venture capital investing involves substantial risk, including risk of loss of all capital invested. This communication includes forward-looking statements, generally consisting of any statement pertaining to any issue other than historical fact, including without limitation predictions, financial projections, the anticipated results of the execution of any plan or strategy, the expectation or belief of the speaker, or other events or circumstances to exist in the future. Forward looking statements are not representations of actual fact, depend on certain assumptions that may not be realized, and are not guaranteed to occur. Any forward-looking statements included in this communication speak only as of the date of the communication. AV and its affiliates disclaim any obligation to update, amend, or alter such forward-looking statements whether due to subsequent events, new information, or otherwise. While the information herein is collected and compiled with care, to the extent such information was obtained from portfolio company management and/or other third-party sources, neither AV nor any of its affiliated companies warrants or guarantees the accuracy or the completeness of such information.
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