In an era when there is an emphasis on diversity in the workplace, Canada is leading the way with its BDC Capital’s Women in Technology (WIT) Venture Fund that invests solely in companies led or co-led by women. With approximately $200 million to invest, WIT is the largest venture fund of its kind, and within the past year it supported 19 women led companies after reviewing over 1,000. It joins the US based Female Founders Fund and Chloe Capital as funds established to solely invest in women-led tech ventures.
The WIT Fund focuses on companies that use technology, team, and resources to transform market, supporting women entrepreneurs in areas such as fintech, medtech, and manufacturing. Funding ranges from seed stage to Series A and B, investing in entrepreneurs who have different experience levels and a variety of needs for their business.
Apart from supporting ventures directly, the fund hosted a trade mission to China, held workshops and networking events, and created a Women in Tech bootcamp for hundreds of women across the country. These activities are helping to build a self-sustaining ecosystem for women in technology that allows them to grow, create partnerships, and thrive.
“There is nowhere near enough diversity in our workplaces, particularly in tech and investment teams. The Women in Technology Venture Fund is a game-changer in Canada. The fund’s size and team, combined with its focus on diversity, bring together all the right elements to impact real change. We are already seeing the ripple effects across Canada,” stated Whitney Rockley, the first woman chair of the Canadian Venture Capital and Private Equity Association, in a press statement.
