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New Scottish female entrepreneur fund to be launched

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by Startacus Admin

investing women

Good news for female founders in Scotland as Investing Women restructures for growth and reveals plans to launch a new IW AccelerateHER Fund.

Eilidh Mactaggart CEO Scottish National Investment Bank Scotland’s pioneering all female angel group Investing Women Angels (IWA) has announced major growth plans as it restructures ahead of launching a new IW AccelerateHER Fund for female-founded companies in Scotland.

The group plans to collaborate with the Scottish National Investment Bank to develop the fund concept and plans during 2022. The IW AccelerateHER Fund will provide finance to support the growth of Scottish female-led businesses, unlocking entrepreneurial potential and supporting the recommendations of Mark Logan’s review of the Scottish tech ecosystem. 

Many hundreds of female founders have benefitted from ‘door opening’ connections and profile raising from IWA mentors, UK wide awards, education programmes and multiple international market building missions.

Female Founder Jackie Waring said: “This is an incredibly exciting time for Investing Women Angels with the new IW AccelerateHER Fund marking a major step forward in the level of support we can provide for female founders in Scotland.

Jackie Waring IW“Through the excellent partnership we’ve forged with the Scottish National Investment Bank and working alongside other key partners including Scottish Enterprise, Highlands & Islands Enterprise, South of Scotland Enterprise, and the Scottish Government, the new fund will aim to move the dial to a higher setting to increase access and opportunities for female-led businesses, driving wider economic growth.

To realign its team for growth, IWA Founder Jackie Waring will lead the steering group to develop the Fund while also continuing to be an active angel investor. Meanwhile IWA Director and former investment banker Evelyn Simpson will take over from Waring as Managing Director of the organisation’s angel group and will also join the team in building the new fund. 

Since its first investment in 2015 in TC Biopharm, global pioneers and leaders in gamma-delta T-cell therapy, IWA members have invested more than £2.1m in 22 companies with more than 90% of funds going to female-founded businesses.

The group’s sister company AccelerateHER has also been supporting female founders since 2015, connecting entrepreneurs with business angels and helping them prepare for investment, scale and internationalisation.  

We're looking forward to reporting back once the fund launches!



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Published on: 8th February 2022

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