Greenbackers recognises that some of the today’s most impactful high-growth companies are led by inclusive teams with women leaders.
Factual evidence and statistics indicate that women-founded startups generate more revenue per euro invested [European Women in VC 2021 Report], companies with more women in executive roles are 25% more likely to be profitable [European Women in VC 2022 Report], and on the investor side, each 10% point increase in diversity is associated with a 1.3% point increase in IRR [European Women in VC 2023 Report].
Greenbackers appreciates this and wants to support more women founders. As part of our activities, we have identified and are now engaging with a fund that we want you to consider applying to as part of your Greenbackers led fundraising campaign: The Astia Fund.
The Astia Fund is dedicated to female founders and co-founders. It is a little different from most VC funds that Greenbackers typically engages with insofar as Founders must apply directly.
Astia maintains “a unique screening process and protocol, which is designed to reduce bias and bring top performing companies to the fore.” It is called the Astia Expert Sift. Given this, Astia purposefully does not take an initial meeting with founders as that is where they feel that so much of bias in venture capital lies. Instead, they ask entrepreneurs to complete a profile on their platform (like with Greenbackers) and upload their materials there, in order to send them through the screening process more efficiently.
Please note: as a general rule, pre-seed companies are too early for investment from Astia. Astia’s sweet spot is Series A and B, they will consider Seed Stage, will lead or follow and typically writes an initial cheque for between $1m-2m USD. They are geography agnostic.
If your company has early traction and strong market validation in the form of revenue, partnerships or regulatory progress, then Astia welcomes your submission.
How to engage: Entrepreneurs can apply/submit materials to the Astia Fund at any time via their website. Astia reviews every company that does. Should you need or want assistance or guidance from Greenbackers, just let us know via your Greenbackers Advisor and we will help you. But you must apply yourself to start and lead the process.
Important: when applying, please list Greenbackers as a referral, so that we get updates as your company progresses through Astia’s screening and consideration process.
