Houston-Based Female Focused Fund Artemis Fund Makes Its First Investment

By Annie Baker ● Jul 19, 2019
  • Houston, Texas-based female-focused fund Artemis Fund announced it has invested $500,000 in college savings app U-Nest

Artemis Fund — a Houston, Texas-based female-focused fund that participates in seed and Series A rounds — has made its first investment by placing $500,000 in a college savings app company called U-Nest, according to Houston Chronicle. Artemis had invested along with Draper Dragon Fund, Band of Angels, and Pasadena Angels to invest $2 million into U-Nest.

The U-Nest app helps families set up 529 college savings plans in under five minutes with as little as $25. U-Nest was founded by Ksenia Yudena — who has more than 10 years of financial expertise.

“We are thrilled to announce this as our first investment,” said Artemis Fund co-founder Leslie Goldman in a statement. “We just need 14 more founders like Ksenia. With her drive, determination, deep expertise in this area, and her ability to attract top, seasoned talent, she sets the bar high for us as we look for additional portfolio companies.”

The Artemis Fund is led by Goldman along with managing director Stephanie Campbell and principal Diana Murakhovskaya. Goldman had practiced corporate law for more than 25 years and invested in over 40 companies prior to starting Artemis. Campbell is also managing director of the Houston Angel Network. And Murakhovskaya is the co-founder of the Monarq Incubator — which focuses on women-led startups.

The Artemis Fund’s first fund closed at $20 million and it will be used for investing in about 30 women-led companies. This is an essential initiative since women make up only 9% of decision-makers in VC firms in the U.S. and women-led companies only receive 2% of venture capital. Artemis Fund also points out that two-thirds of the nation’s personal wealth ($22 trillion) will be controlled by women by 2020.