Briefing

Sandpiper Ventures raising $20-million fund to invest in early-stage women-led companies

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The inaugural fund of the Atlantic Women’s Venture Fund has raised less than $10 million overall and is still fundraising. Its management team and all its investors—18 so far—are women executives. (The Logic)

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Talking point: Danielle Graham, currently a principal at Dream Maker Ventures, is joining the fund as its investment principal. She’s played a key role in major initiatives promoting women in technology in recent years. At Dream Maker, she founded the fund’s diversity program initiative. She also launched Fierce Founders, Canada’s first woman-focused accelerator. Cathy Bennett, former Newfoundland and Labrador finance minister, is joining the fund as a general partner along with Sarah Young, managing partner at National Public Relations and Rhiannon Davies, former EVP of GrandVision N.V. This is the latest movement in Canada’s growing venture capital sector focused on women entrepreneurs. In March, Standup Ventures closed a $21-million women-focused fund. And earlier this month, Ottawa committed $15 million in fresh capital for women entrepreneurs struggling due to COVID-19 and a new angel network, called Canada51, launched to facilitate investments in women-led companies.