A new investor marketplace focusing on gender diverse companies will allow companies to “test the waters” before beginning to raise funds.
FundAthena offers companies the chance to search for investors, promote successful initiatives, define their market and assess growth potential before beginning the formal fund search process.
Potential investors can make a non-binding commitment during this period which allows them to the front of the line when the company determines they are ready to move ahead.
“FundAthena is a game-changer for the growth-stage capital raising world,” said Rod Turner, Co-Founder and Executive Chairman. “Businesses and Main Street investors have never been given an opportunity like this and we are excited to be at the forefront of making this ground breaking fundraising happen.”
Companies were allowed to start gauging interest on March 25 and will be able to begin raising funds this July.
“With the new Regulation A+, we are excited to take advantage of the TestTheWaters™ program to assist us in evaluating Main Street investor interest and preparing for our funding efforts,” said Gail K. Naughton, Ph.D., CEO of Histogen, a company devoted to redefining regenerative medicine and one of the first companies to utilize FundAthena. “This visibility is invaluable as we work toward evaluating the best type of funding to support our entry into new markets.”
FundAthena wants to focus on women-led and gender diverse companies, which have a harder time accessing capital.
“Gender diverse companies are an underserved market with incredible potential for more success,” said FundAthena President Kim Folsom.
The platform defines gender diversity as having at least one woman in the C level management team, at least 10 percent in Vice President/Director management, and 25 percent at the professional level, with women owning at least 10 percent of equity.
Only 2.7% of the companies that received venture capital funding between 2011 and 2013 had a female CEO, according to last year’s Diana Report. One out of six venture funded companies in 2013 had a female executive.
FundAthena companies need to have raised at least $1 million in seed capital and generated a minimum of $500,000 in revenue. They can seek between $2 million and $50 million.