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Checklist: Girl Power!

Wells Fargo encourages women venture capitalists with a pay-it-forward plan.
Posted on Apr 8, 2022 | 07:40pm
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With an eye toward bridging the gender equality gap in the venture capital arena, Wells Fargo has debuted their How Women Lead initiative. The $1.5 million dollar grant kicking it off will allow 10,000 small-business owning women who are fostering positive change to become first-time investors with venture capital, and by extension, investors in other women.

According to Center for Venture Research data, only 5% of general partners in VC funds are currently women, and only 1.8% of VC investments go to purely women-led startups. The Wells Fargo plan is to sow the seeds of an eventual $1 billion women-founded venture fund—the U.S.’s largest—specifically supporting startups in the technology and health sectors.

By coming together to close the gap, says Mary Mack, CEO of Wells Fargo Consumer and Small Business Banking, “we can accelerate the trajectory of women entrepreneurs and their contributions to the economy.” wellsfargo.com