Chloe Capital Announces Renewed Founder Fellowship Program for NYC-Based Tech Startups

FOR IMMEDIATE RELEASE

New York, NY, November 6, 2023 –  Chloe Capital, a seed-stage venture capital firm committed to advancing underrepresented entrepreneurs in the technology sector, is thrilled to announce its renewed Founder Fellowship accelerator in partnership with the New York City Economic Development Corporation (NYCEDC). This program is set to empower and accelerate diverse founders in the vibrant ecosystem of New York City.

Chloe Capital, known for its dedication to closing the gender and diversity gap in innovation, has a remarkable track record of supporting visionary founders tackling some of the world’s most pervasive problems. The renewed 2024 Founder Fellowship program represents their commitment to achieving Chloe Capital’s vision.

“I am thrilled to continue our partnership with the terrific team at Chloe Capital in 2024 for another installment of the Founder Fellowship. Together, we are committed to empowering a diverse community of startup founders with the tools they need to scale their enterprises, while fostering innovation that drives inclusive economic growth in New York City.”  – Fernando Montejo, Assistant Vice President, NYCEDC

The 2024 Founder Fellowship builds on the momentum and community built through our partnership with NYCEDC and the cohort in 2023. Myneco Ramirez, partner at Chloe Capital, is ecstatic to spotlight the innovative companies and diverse founders throughout New York City. She recently shared “the renewed NYCEDC Founder Fellowship fuels our shared passion for innovation. Together, we’re not just building a vibrant and diverse entrepreneurial ecosystem; we’re writing the future of possibility, one company at a time.”

ABOUT THE 2024 FOUNDER FELLOWSHIP

Chloe Capital’s 2024 Founder Fellowship is a comprehensive program designed to provide diverse and women-led tech startups with the resources, mentorship, and funding necessary to drive innovation, create groundbreaking solutions, and succeed in a competitive tech landscape. 

Chloe Capital will be selecting 15 companies to participate in its 2024 cohort. The Chloe Capital cohort will feature Seed through Series A technology or technology-enabled companies led by underrepresented founders.

The program will include several key components:

• Mentorship and Investor Networking: Participants in the 2024 Founder Fellowship will gain access to Chloe Capital’s extensive network of industry experts, mentors, and advisors. This guidance and support will help entrepreneurs navigate the complex world of startups.
• Showcase Events and Demo Days: The program will feature events and demo days, offering women-led startups the opportunity to showcase their innovations to potential investors, partners, and customers.
• Educational Workshops: Entrepreneurs in the program will have access to workshops and educational resources focused on critical topics such as fundraising, scaling, and building a diverse and inclusive company culture.
• Community Building: The Founder Fellowship will foster a strong sense of community among the cohort, creating a supportive ecosystem where women entrepreneurs can share knowledge, experiences, and inspiration.
• Direct Investment: By the end of the program, Chloe Capital will commit at least $300,000 in direct investments. On average, participants in a Chloe Capital program each go on to raise $2,000,000 within a year, catalyzed by visibility and introductions to the firm’s world-wide network.

Demonstrating the impact of the accelerator program, Dr. Michael Conward, Chief Technology Officer & Co-founder of MyLÚA Health shared “The lessons, connections, and opportunities we’ve garnered through Chloe Capital’s Founder Fellowship are immeasurable and foster inclusivity. Beyond the program, their seed investment in our company stands as a powerful statement to their dedication to backing diverse, impactful solutions in the tech world.”

2024 FOUNDER FELLOWSHIP TIMELINE

• Applications Open: October 5, 2023  (Founder Fellowship details)
• Information Session: November 8, 2023 at 2pm EST (Register here)
• Applications Close: December 5, 2023
• Cohort Selection: January – February, 2024
• Fellowship Hybrid Program: March – June, 2024
• In-Person Showcase: June 2024

2023 FOUNDER FELLOWSHIP SUCCESS

Chloe Capital first partnered with NYCEDC as part of its 2023 Founder Fellowship program. Through this program, Chloe Capital hosted its largest cohort ever: 20 teams representing some of the most innovative technology companies across New York City. Following the four-month program, Chloe Capital committed $375,000 in direct investments for seven (7) of the participating companies: HandsDown, Itselectric, MediJobs, Moodbit, MyLua Health, Onramp, WEST X EAST.

For media inquiries and more information about Chloe Capital and the 2024 Founder Fellowship, please contact:

Contact

Kristina Klaas, Operating Partner, Chloe Capital

info@chloecapital.com

ABOUT CHLOE CAPITAL

Chloe Capital is a venture capital firm that invests in women-led technology companies. In addition to investing with a gender and diversity lens, Chloe Capital partners with universities, corporations and foundations like ECMC Foundation and the Richard King Mellon Foundation to host programs that help catalyze fundraising efforts for underrepresented founders. This collaborative approach to early stage investing has resulted in millions raised. Today, more than 25,000 people around the world have joined Chloe Capital’s Movement to #InvestInWomen. www.ChloeCapital.com 

ABOUT NEW YORK CITY ECONOMIC DEVELOPMENT CORPORATION

New York City Economic Development Corporation is a mission-driven, nonprofit organization that works for a vibrant, inclusive, and globally competitive economy for all New Yorkers. We take a comprehensive approach, through four main strategies: strengthen confidence in NYC as a great place to do business; grow innovative sectors with a focus on equity; build neighborhoods as places to live, learn, work, and play; and deliver sustainable infrastructure for communities and the city’s future economy. To learn more about what we do, visit us on Facebook, Twitter, LinkedIn, and Instagram.

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Chloe Capital Selected as an Emerging Impact Manager for the Prestigious ImpactAssets 50™ 2023 List 

From left to right:  Erica O’Brian, Elisa Miller-Out, Myneco Ramirez. (Photo credit: Jill Farrar)

FOR IMMEDIATE RELEASE
April 11, 2023

Ithaca, NY – Chloe Capital, a mission-driven venture capital firm focused on investing in women-led technology companies, is proud to announce its selection as an Emerging Impact Manager (EIM) for the esteemed ImpactAssets 50™ 2023 (IA 50). This recognition showcases Chloe Capital’s commitment to empowering women and underrepresented founders while driving positive social and environmental impact through strategic investments.

The ImpactAssets 50™ is an annually updated list that recognizes the top 50 impact investment fund managers worldwide. Since its inception in 2011, the IA 50 has become a trusted resource for impact investors, family offices, and financial advisors seeking to align their investment portfolios with sustainable and impact-driven objectives. The selection process is highly competitive, and inclusion in the list highlights Chloe Capital’s dedication to delivering exceptional financial returns alongside measurable, positive impact.

“We are honored to be recognized as an Emerging Impact Manager by ImpactAssets,” said Elisa Miller-Out, Managing Director at Chloe Capital. “This accolade acknowledges our commitment to supporting women-led technology companies and fostering a more inclusive and diverse startup ecosystem. We believe that investing in diverse founders is not only a moral imperative but also a smart business decision that yields significant social and economic benefits.” 

Chloe Capital’s inclusion in the IA 50™ 2023 is a result of its rigorous impact investment strategy, which combines comprehensive due diligence, active portfolio management, and a focus on businesses that address the United Nations Sustainable Development Goals (SDGs). By targeting companies with the potential to create substantial social and environmental change, Chloe Capital aims to deliver market-rate returns while driving transformational impact on a global scale. This recognition underscores the firm’s commitment to making a positive difference in the world through impact investing. 

“I’m a proud supporter of Chloe Capital and congratulate the team on making the list”, said Evan Segal from the Segal Family Foundation. “Their approach to impact investing is rooted in a belief that diverse teams lead to better outcomes, both in terms of financial performance and social impact. Their inclusion in the IA 50 list is a testament to Chloe Capital’scommitment to creating positive impact through their investment strategy and their potential to become a significant player in the impact investing space.”

The IA 50 selection committee, consisting of industry experts and leaders in the impact investing space, evaluates fund managers based on their track record, impact measurement, and investment approach. Chloe Capital’s recognition as an EIM underscores its potential to become a leader in the impact investing sector and reflects its commitment to creating a more equitable and sustainable world.

Chloe Capital’s investment thesis has already been proven. Chloe Capital’s portfolio is targeted towards companies with at least one leader who identifies as a woman, and at least 50% of their companies have at least one leader from an additional underrepresented group. Even before closing its first Fund, Chloe Capital has experienced 4 Mergers & Acquisitions transactions and a full liquidity event and exit. Chloe Capital’s track record of success demonstrates that through impact investing it is possible to help close the gender gap in entrepreneurship and create more equitable opportunities for underserved founders all while making significant returns.

For more information about Chloe Capital and its impact investment strategy, visit their IA 50 2023 profile here.

About Chloe Capital

Chloe Capital is a movement-driven venture capital firm investing with a gender and diversity lens. We focus on diverse women tech leaders who are solving the world’s biggest problems across climate, education and health. Our superpower is our ecosystem-building work. Our accelerator programs allow us to access unique deal flow, enhance visibility and provide networks and resources for our founders throughout the #InvestInWomen Tour. For more information, visit www.chloecapital.com. Past performance is not a guarantee of future results.

About the ImpactAssets 50 

The IA 50 is the first publicly available database that provides a gateway into the world of impact investing for donors and/or investors and their financial advisors, offering an easy way to identify experienced impact investment firms and explore the landscape of potential investment opportunities. The IA 50 is intended to illustrate the breadth of impact investment fund managers operating today, though it is not a comprehensive list. Firms have been selected to demonstrate a wide range of impact investing activities across geographies, sectors and asset classes. 

The IA 50 is not an index or investable platform and does not constitute an offering or solicitation to buy or sell securities or a private placement, or recommend specific products. Nor is this an endorsement of any of the listed fund managers. It is not a replacement for due diligence. To be considered for the IA 50 2023, fund managers needed to have at least $25 million in assets under management, more than three years of experience as a firm with impact investing, documented social and/or environmental impact and be available for US investment. Additional details on the selection process are available here.

The IA 50 Emerging Impact Managers list is intended to spotlight newer fund managers to watch that demonstrate potential to create meaningful impact. Criteria such as minimum track record or minimum assets under management may not be applicable. 

The IA 50 Emeritus Impact Managers list illuminates impact fund managers who have achieved consistent recognition on the IA 50. 

About ImpactAssets

ImpactAssets is an impact investing trailblazer, dedicated to changing the trajectory of our planet’s future and improving the lives of all people. We empower impact investors and philanthropists with access to investing opportunities and customized solutions that promote positive change. ImpactAssets has more than $2 billion in assets in 1,700 donor advised fund accounts, working with purpose-driven individuals and their wealth managers, family offices, foundations and corporations. ImpactAssets is an independent 501(c)(3) organization.

Media Contact:

Elisa Miller-Out
Managing Partner
Chloe Capital
info@chloecapital.com
www.chloecapital.com

Invest Bank of America and Chloe Capital join together on a mission to fund diverse founders. 

From left to right: Jennifer Steinberg, Cara Nichols, Erica O’Brian, Myneco Ramirez, Elisa Miller-Out, Kristina Klaas, andIris Liu. (Photo credit: Jill Farrar)

FOR IMMEDIATE RELEASE
July 7, 2022

ITHACA, NY – Chloe Capital, a movement-driven venture capital firm, announces an exciting new partnership with Bank of America to advance equality and economic opportunity for women and minority-led businesses. Bank of America’s investment in Chloe Capital’s Fund I is part of the company’s commitment to increase the amount of capital available to under-represented founders and foster long-term opportunities.

By partnering with firms like Chloe Capital, Bank of America is furthering its commitment to scaling positive change and driving economic opportunity. Bank of America has dedicated $350 million to women and minority-led companies through capital investments in mission-focused venture funds, like Chloe Capital. To date, more than $300 million has been committed to 100+ minority-focused and minority-led equity funds in just over one year.

In 2021, women-led businesses in the United States received only 2.2% of venture capital funding, while the global venture capital industry had a record-shattering year, with a total of $643 billion in investments made, according to Pitchbook and Crunchbase. And yet, the data continues to show that when diverse teams have access to capital, they continue to outperform financially. Investments in firms like Chloe Capital underscore Bank of America’s ongoing efforts to address the lack of access to growth capital for minority-led businesses.

“Bank of America’s investment in Chloe Capital reinforces our ongoing efforts to address the continuous gap in access to capital and to deploy more into emerging companies led by diverse entrepreneurs,” said David Cornell, President of Bank of America Albany-Hudson Valley. “By investing in a fund managed by diverse leaders, who in turn invest in women and BIPOC-led companies, we’re collectively helping to initiate representation at all levels and we believe that Chloe Capital is well-positioned to drive real change.”

Founded by women, Chloe Capital is a seed-stage venture capital firm investing in women-led technology companies with diverse leadership teams. In alignment with Bank of America’s focus to increase growth capital for underrepresented groups, one hundred percent of Chloe Capital’s 24 portfolio companies are led by women and at least fifty percent include other underrepresented groups. The firm has built its portfolio value to over $700 million and is widely recognized as a leader in diversity and inclusion.

“This partnership will open doors for the trailblazing diverse women leaders in our portfolio and we’re thrilled to welcome Bank of America into the fund,” said Chloe Capital Co-Founder and Managing Partner, Elisa Miller-Out.

In addition to investing with a diversity lens, Chloe Capital utilizes a community approach by partnering with universities, foundations and corporations to deploy capital and create opportunities for under-represented founders and investors. The firm just wrapped its Invest In Women x Pittsburgh accelerator program, committing $300,000 to three women-founded businesses.

“We’re honored to have the opportunity to work with Bank of America to continue to fund companies and underrepresented founders,” said Kathryn Cartini, Co-founder and Partner at Chloe Capital. “Despite recent progress, women and minority-led companies still account for a very small percentage of capital raised by venture-backed firms in the U.S. We aim to change that, and we’re confident that this partnership will help us move the needle. We’re appreciative to the Bank of America representatives in the Capital Region for following our journey and recognizing our efforts to date. We’ll wear this commitment as a badge of honor to help Bank of America address the economic and racial inequality many communities face,” she added.

Bank of America’s investment amplifies Chloe Capital’s mission of doing well by doing good. Together, both organizations are rewriting the narrative for women and minority-led businesses.

Contact
Elisa Miller-Out
Managing Partner, Chloe Capital
info@chloecapital.com

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About Chloe Capital
Chloe Capital is a venture capital firm that invests in women-led technology companies. In addition to investing with a gender and diversity lens, Chloe Capital partners with universities, foundations and corporations to host accelerator programs that help catalyze fundraising efforts for underrepresented founders. This collaborative approach to early-stage investing has resulted in millions raised. Today, more than 20,000 people around the world have joined Chloe Capital’s Movement to #InvestInWomen. ChloeCapital.com

About Bank of America
At Bank of America, we’re guided by a common purpose to help make financial lives better, through the power of every connection. We’re delivering on this through responsible growth with a focus on our environmental, social and governance (ESG) leadership. ESG is embedded across our eight lines of business and reflects how we help fuel the global economy, build trust and credibility, and represent a company that people want to work for, invest in and do business with. It’s demonstrated in the inclusive and supportive workplace we create for our employees, the responsible products and services we offer our clients, and the impact we make around the world in helping local economies thrive. An important part of this work is forming strong partnerships with nonprofits and advocacy groups, such as community, consumer, and environmental organizations, to bring together our collective networks and expertise to achieve greater impact. Learn more at about.bankofamerica.com, and connect with us on Twitter (@BofA_News).

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