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Accelerator Group sets up $25 mn fund for women entrepreneurs

Press Trust of India  |  New Delhi 

US-based Accelerator Group is setting up a USD 25 million fund that will invest in women- owned and led entrepreneurial ventures in

The fund -- Achieving Women Entrepreneurs (AWE) Fund I -- will invest in early-stage start-ups working in areas like healthcare, manufacturing, and agriculture and food.

"There are three key challenges that women entrepreneurs face -- lack of access to capital, gender bias and capacity building. These are the areas that we want to help these women entrepreneurs in," Accelerator Group Managing Director Seema Chaturvedi said.

Discussions are on with institutional investors and the first closing at USD 10 million is expected by March 2018, she added.

"We plan to invest up to USD 2 million in seed and series A rounds in 12-15 companies. AWE Fund I will focus on and depending on the response, we would hope to have Fund II and III and so on," she said.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, September 11 2017. 15:57 IST