Rethink has raised its third and largest fund, taking the firm to over half a billion dollars. The fund raised over $250 million, which exceeded the goal.
Rethink Impact invested in female-led tech companies for nearly a decade, closing equity gaps in health, education, climate, and financial services. The company’s portfolio companies range from Spring Health (precision mental healthcare company that recently raised at a $3.3 billion valuation) to Candidly (financial wellness platform with $1.2 billion in projected student debt savings) to Binti (tech tools digitizing foster care, reaching nearly 1 in 4 children in the system), to Regrow (regenerative ag software monitoring over 1.3 billion acres of farmland globally).
Rethink Impact’s investor base includes over 10 university endowments, over 10 foundations, and limited partners from UBS and Cambridge Associates, solidifying the fund as an institutional platform and this officially ushers gender lens investing into the financial mainstream. And the majority of Rethink Impact’s individual investors are women, ranging from self-made billionaires to global philanthropists to professional athletes.
KEY QUOTES:
“Some may have thought that investing in women was only a passing trend in the wake of the #metoo movement. But this moment makes clear that investing in women and impact is good business, good for the economy, and certainly here to stay.”
-Jenny Abramson, Founder & Managing Partner of Rethink Impact
“Our success to date and the incredible group of funds investing in Rethink Impact portfolio companies along with us are a testament to the powerful work that our talented portfolio CEOs are leading and the massive opportunity associated with working on the most pressing issues of our day.”
-Heidi Patel, Managing Partner at Rethink Impact
“We are doubling down on Rethink Impact in this critical moment for women. When women have their full power in society, including access to capital to build large and successful businesses, we all thrive. We’re proud to be deepening our partnership with Rethink Impact in this work.”
-Erin Harkless Moore, Managing Director of Investments at Pivotal Ventures, Melinda French Gates’ organization
“CHOP is very much aligned with the focus of Rethink Impact. Rethink Impact shares our dual commitment to excellence and diversity and is making a significant impact by investing in women entrepreneurs and networks.”
-Jenny Chan, SVP & CIO of Children’s Hospital of Philadelphia
“As someone who has experienced the challenges and thrills of being a founder, I’m energized by the work Rethink Impact is doing to support women building huge businesses that benefit society.”
-Sara Blakely, Founder of Spanx
