The Invest In Women Taskforce has signed a letter of intent with the investment firm, taking the partnership forward to manage a new fund. The Taskforce aims to create an equitable growth and VC ecosystem to redress the imbalance of so few women-led businesses receiving venture capital.

The Invest in Women Taskforce, a UK group, has stepped up its plan to partner with Bootstrap4F, a European group which channels financing to female-led venture capital, as the preferred candidate for the fund of funds manager role.

It will manage the new “Women backing Women” Fund.

Bootstrap4F brings together a team of women with expertise and a track record in the VC ecosystem, supported by European Women in VC, a community of female growth and venture investors in Europe. 

As part of the process, Bootstrap 4F has asked the Taskforce’s co-chair, Debbie Wosskow (pictured), to become chair, a statement from the Taskforce said last week.

The Taskforce seeks to tackle a situation in which, it says, there is a “structural under-representation of female investors and female founders,” with only 1.8 per cent of equity capital going to fully female-founded businesses.

The Taskforce is backed by the UK Treasury and the Department for Business and Trade.

“As a general partner of an asset management fund and a founder of a fintech startup, I have witnessed first-hand the challenges and the immense potential within the UK’s investment landscape,” Stephanie Heller, Bootstrap 4F, said. “I know how critical it is to create real pathways for female investors and founders to succeed. It is an honour to be selected as a strategic partner of the IWT. Our objective is to drive real change in the UK funding ecosystem by deploying and raising further capital for female founders through talented female investors.”

Kinga Stanislawska, European Women in VC, Bootstrap 4F, said: “I am thrilled to be supporting this groundbreaking project aiming to bring the balance of capital in UK venture up from the staggering 9 per cent AuM managed by female GPs that we see today.”

“This initiative will ultimately create both an equitable growth and VC ecosystem and bring more capital into the hands of female founders and benefit all of society. European Women in VC is fully behind the mission of the IWT.” 

The Taskforce announced the fund in November.

“Women-led businesses have been shown to deliver 35 per cent higher returns and will unlock a critical part of the path to UK economic growth,” Hannah Bernard, head of business banking at Barclays and co-chair of the Invest in Women Taskforce, said. 

 A report in 2024 by European Women in VC, which surveyed more than 300 European VC partners and limited partners, found that the vast majority (87 per cent) of respondents agree that increased diversity in venture capital leads to better investment decisions and financial returns. Additionally, 82 per cent of VCs and 77 per cent of LPs said diversity of the founding team of startups or funds they invest in was important.

Last Wednesday, London Stock Exchange Group chief executive Julie Hoggett, Bootstrap4F and members of the Taskforce’s board, opened the stock market trading session.

Bootstrap 4F has offices in London, Luxembourg and Zurich.