Halogen Ventures Closes $21 Million For Second Fund

By Amit Chowdhry ● Feb 15, 2021
  • Halogen Ventures — the venture capital fund led by Jesse Draper — announced it has closed a second fund of $21 million

Halogen Ventures — the venture capital fund led by Jesse Draper — announced it has closed a second fund of $21 million. Draper had launched Halogen Ventures in 2015 after recognizing startups with women founders were a highly undervalued investment opportunity. And since then, Halogen has invested in over 60+ female-founded companies with ten exits under the portfolio, giving the Halogen team a distinct edge and solid track record at assessing consumer behavior and identifying industry trends.

There are recent studies showing for every dollar invested, businesses founded by women generate revenue almost two times higher than those founded by men. And women-owned businesses are often a safer bet for investors and financial backers, but only 13% of venture capital go to startups with women on the founding team. (BCG, 2018).

So far, Halogen has invested in over 60+ companies including Squad App (acquired by Twitter), ThisisL. (acquired by P&G), and Eloquii (acquired by Walmart), The Skimm, Hopskipdrive, Carbon38.

KEY QUOTE:

‘With this fund, we will continue to prove out that investing in women and diversity are the best bet for allocation of startup capital and make for more economically efficient, profitable, stronger businesses and better returns. We are investing in consumer technologies to make lives easier from improving the way we shop, educate, work from home to companies solving childcare and government inefficiencies. Some of the greatest technology companies in the world came out of the 2008 recession and we see a similar opportunity now to solve these new problems that have come to light in this pandemic.”

“While some studies show investments in women went down in 2020, this is ultimately a deal flow problem, and lack of network expansion where the traditional and institutional funds are stuck in graveyard networks and need to broaden their scope. It is a problem that trickles down from the top. We need to get more investment in women-founded businesses and funds from high net worth investors, institutions, endowments, and fund of funds. We see this as an enormous opportunity and there is no lack of women starting businesses.”

— Jesse Draper, Founding Partner, Halogen Ventures