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BofA backs ladies’s well being agency Coyote Ventures’ first fund

Ladies’s well being agency Coyote Ventures named Financial institution of America the biggest institutional investor in its first fund, common associate Jessica Karr tells Axios completely.

Why it issues: Buyers are committing extra money into earlier rounds for ladies’s well being firms, spurred by the Supreme Courtroom’s reversal of Roe v. Wade and elevated consciousness of the funding discrepancy between women and men’s well being.

Driving the information: Financial institution of America has up to now invested roughly $300 million into 100-plus enterprise funds as a part of its $1.25 billion racial justice and financial alternative initiative introduced final yr.

Deal particulars: Whereas Karr declined to reveal the quantity Financial institution of America invested, she mentioned Coyote Ventures is trying to gather $10 million whole for its first fund.

  • Coyote Ventures’ portfolio at present contains interval product startup Flex, breast most cancers danger evaluation firm Gabbi and ladies’s complement startup Wile.

The backstory: Karr was worker quantity 12 at meals tech darling Inconceivable Meals and pivoted to startup investing after seeing extensive disparities in funding for firms began by ladies and other people of coloration.

Context: The next ladies’s well being tech firms have raised early-round funding in latest months:

What they’re saying: Though “nascent as a class,” ladies’s well being is an “rising house, just like the best way meals tech was 10 years in the past,” says Karr.

  • “A part of transferring the needle on gender equality is speaking about it,” says Karr. “There’s impression we will monitor by way of numbers of discs offered or tampons decreased however at a better stage we’re speaking about our durations and ladies needing to have orgasms.”
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