We are thrilled to share our recently published 2022 Impact Report! On behalf of the Chloe Capital leadership team, we’d like to thank our partners, investors, and founders for their tremendous support. We truly couldn’t do it without you.
We’re still buzzing from the Founder Fellowship showcase last week in NYC. Plus, a major announcement from our portfolio.
Investors, Founders, and Community Members join us on May 30, 2023, for Chloe Capital’s Founder Fellowship showcase, which will feature the latest innovations from the brightest minds in our community.
We are eager to announce the news that Chloe Capital has been selected as a 2023 Emerging Impact Manager (EIM) for the esteemed ImpactAssets 50™!
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
This March, as we celebrate the remarkable achievements of women throughout history, we are especially proud to honor the trailblazing women who have paved the way in the tech industry. From Ada Lovelace, the world’s first computer programmer, to Grace Hopper, the inventor of the first programming compiler, women have always been at the forefront of innovation in tech.
Last year, we sent out a call for applicants for Chloe Capital’s 2023 Founder Fellowship, an accelerator in partnership with the New York City Economic Development Corporation (NYCEDC) focused on supporting founders from diverse and traditionally marginalized backgrounds. We are thrilled to announce our cohort of 20 companies and their founders.
FOR IMMEDIATE RELEASE:
November 15, 2022
NYCEDC Expands Founder Fellowship Program to Support 100 Underrepresented Entrepreneurs
Applications Are Now Open for The Second Installment of the Founder Fellowship, a Program that Supports Diverse Tech Entrepreneurs to Grow and Raise VC Investments
Program Expands Thanks to $1.5 Million Investment from Mayor Eric Adams’ Economic Blueprint for Economic Recovery
NEW YORK, NY – New York City Economic Development Corporation (NYCEDC) today announced the second installment of the Venture Access NYC Founder Fellowship. The Founder Fellowship supports a diverse community of tech entrepreneurs across industries and sectors by providing them with access to networking, fundraising, mentorship, business development, and other opportunities necessary to build and scale their enterprises in New York City. Applications are currently open and will close on December 16th, 2022.
Through Mayor Eric Adams’ Blueprint for Economic Recovery and a $1.5 million investment from the City of New York, NYCEDC is scaling the Founder Fellowship in 2023 to serve additional tech entrepreneurs in NYC. The expansion of the program comes after the success of the pilot Founder Fellowship cohort that launched in February 2022 in partnership with Newlab. The pilot currently supports eight founder teams working on urban-tech solutions.
“Initiatives like the Founder Fellowship are a prime example of how New York City is leading the effort in building a more inclusive and diverse tech industry,” said Deputy Mayor for Economic and Workforce Development Maria Torres-Springer. “Building on its pilot successes, the program’s expansion will ensure that underrepresented founders receive the resources they need to overcome systemic barriers, achieve their potential, and build stronger products, services, and platforms to serve all New Yorkers.”
“The Founder Fellowship program ensures that all New Yorkers are able to seize the opportunities presented by tech and build towards a more vibrant and inclusive future for the city,” said NYCEDC President and CEO Andrew Kimball. “New York City continues to remain the global epicenter of innovation and we are thrilled to build off the success of last year’s program and expand to more entrepreneurs. We look forward to working with our partners to review a diverse pool of applicants from all communities and backgrounds.”
“Supporting entrepreneurs across the City is how we make sure our local economies recover at the same rate as the City. As the Chair of the Committee on Economic Development, I have been laser focused on recovery and this is a fantastic initiative that has given and continues to give community-forward entrepreneurs the resources to create innovative ideas and solutions,” said Council Member Amanda Farías. “Thank you again to NYCEDC and congratulations to all the new fellows and cohort partners. I look forward to working together to ensure we continue to bolster our emerging tech industry.”
The Founder Fellowship is part of NYCEDC’s Venture Access NYC initiative to bring together investors, tech entrepreneurs, and industry leaders to build a more inclusive tech startup ecosystem in New York City.
NYCEDC selected the following operator partners to host five unique Founder Fellowship cohorts in 2023 with a goal of serving approximately 100 diverse tech founder teams.
Each operator will provide unique value and offerings to their respective Founder Fellowship cohorts. All Fellow teams will receive individualized work plans to identify key needs and interests; cohort convenings to discuss challenges and receive business administration support; connections to capital providers and potential collaborators; and access to mentors and advisor networks.
“Chloe Capital is committed to the thesis that unless we are intentional about providing access to capital and support to companies led by underrepresented founders, the gender and diversity gap in entrepreneurship will continue to widen,” said Elisa Miller-Out, Managing Partner at Chloe Capital. “When we saw NYCEDC’s call for Founder Fellowship accelerator operators, we jumped at a chance to be a part of this incredible initiative. Chloe Capital’s Founder Fellowship will bring together a talented and diverse cohort focused on solutions in Climate, Education, and Health. We look forward to working with the city on the monumental effort to make New York City’s economic recovery as innovative and inclusive as possible.”
“We are excited to be part of the Founder Fellowship program and support extraordinary entrepreneurs as they build their companies,” said Lindsay Siegel, Head of Impact at Company Ventures. “Company Ventures has a long history of partnering with NYCEDC to align the tech ecosystem with the City’s priorities. This effort to support underrepresented founders is critical to New York City’s commitment to building a more equitable future and a more resilient tech economy.”
“Solving the complex, interdependent challenges we face today will require
“The Tech Incubator at Queens College is honored to collaborate with NYCEDC to support entrepreneurs in New York City who are starting tech-related or tech-enabled businesses. We will be able to deliver much-needed resources for historically marginalized and underrepresented founders to grow and thrive thanks to NYCEDC’s broad connections and NYC’s tech ecosystem,” said Ying Zhou, Executive Director of the Tech Incubator at Queens College.
“We’re thrilled to partner with NYCEDC to support overlooked founders across the city in growing their businesses,” said Nashaira Ofori, VP of Product at Visible Hands. “At VH, we see a sizable number of applicants coming from the NY tech ecosystem. We know that partnerships like this one that provide funding, resources, and programming can be game-changing and we’re excited to help these founders change the face of entrepreneurship.”
Program alumni will receive year-long free WeWork All Access memberships. Selected Fellow teams will also receive free or low-cost tools and resources from startup ecosystem partners, including transactional legal support from the Lex Mundi Pro Bono Foundation.
“Being in the Founder Fellowship at Newlab has been a great opportunity to connect with amazing public sector leaders within NYCEDC as well as Mayor Eric Adams and Deputy Mayor Maria Torres Springer,” said Atif Qadir, founder of REDIST, a current Founder Fellow in the pilot cohort. “These conversations have helped us move our product forward. The association with NYCEDC has also helped us further establish ourselves in our space of financing for social impact real estate in the eyes of our customers and in the eyes of investors as we closed our $1.9 million seed round.”
New York City is ranked as the number two global tech ecosystem and is home to over 25,000 tech enabled startups. The tech ecosystem employs over 300,000 people, having grown by over 30% in the last decade. However, nationally, startups led solely by women founders received about two percent of venture funding in 2021, while startups led by Black and Latinx founders generally receive less than three percent of total funding raised. To address this challenge, NYCEDC designed the Founder Fellowship to ensure entrepreneurs traditionally underrepresented among venture-backed startups can successfully build and grow their enterprises in NYC.
Applications are now open through December 16, 2022. An info session will be held on November 30, 2022. Learn more about the Fellowship and apply here.
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Contact
NYCEDC | press@edc.nyc
Chloe Capital | info@chloecapital.com
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About NYCEDC
New York City Economic Development Corporation is a mission-driven, nonprofit organization that creates shared prosperity across New York City by strengthening neighborhoods and creating good jobs. We work with and for communities to bring emerging industries to New York City; develop spaces and facilities for businesses; empower New Yorkers through training and skill-building; and invest in sustainable and innovative projects that make the city a great place to live and work. To learn more about what we do, visit us on Facebook, Twitter, LinkedIn, and Instagram.
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
Calling all diverse NYC tech founders! Applications launch for Chloe Capital’s Founder Fellowship accelerator supported by New York City Economic Development Corporation (NYCEDC).
We’re taking meetings! Reach out through our website if you’re interested in discussing funding or investment options with Chloe Capital. Interested in learning more about the #InvestinWomen movement? Be sure to check out our Impact Investing Course.
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