The Women backing Women fund, launched recently by a government-appointed taskforce, has announced its first close of £130m in what it described as a “landmark moment for the UK’s investment ecosystem”.
The Invest in Women taskforce launched in 2024 to bring together business experts to improve the gender equity in investment.
As part of its efforts, the Women backing Women fund of funds was created to provide investments that meet gender diversity criteria.
The fund has been backed by major institutions including Barclays, the British Business Bank, M&G plc and Nationwide.
“We needed to change what ‘normal’ looks like, and it is a market correction that is long overdue,” said Debbie Wosskow, co-chair of the Invest in Women Taskforce.
“I’m incredibly proud of what we’ve built with our investment partners – it is an historic achievement, and we’re delighted that institutions have recognised the opportunity on the table. They have shown real leadership. We now need more investors to come aboard and join us on this journey.”
The fund is being managed by Bootstrap4F, which was selected by the taskforce from a pool of 25 candidates.
“Securing £130m in commitments, with Barclays, the British Business Bank, M&G plc and Nationwide, is an exceptional outcome in this market,” said Stephanie Heller, managing director at Bootstrap4F.
“We have built the infrastructure to deploy capital efficiently, and the funds that have expressed interest so far are both strong and high in quality. We are committed to making every investment count.”
Minister for Investment Lord Stockwood added: “The UK is a thriving business hub, and this £130m investment into the Women Backing Women fund is a major moment in showcasing the power of government and industry in coming together to make a positive difference in our investment environment.
“Through the Invest in Women Taskforce, we are creating further opportunities for female founders and encouraging more women to become investors to make a real difference in the sector and in our country.”
