Scotiabank invests in disruption ventures, claims to be Canada's first private, female-founded venture fund for women
Scotiabank and Disruption Ventures have announced a partnership that will provide women with support to take their business to the next level. The milestone investment will be additive to The Scotiabank Women Initiative, which helps women with access to capital, support from senior business leaders, and education tailored to their needs.
Disruption Ventures is Canada's first private female-founded venture capital fund for women entrepreneurs. Through this partnership, Scotiabank has committed capital to Disruption Ventures, and will assist with marketing initiatives, drive awareness of the partnership, and offer educational content to support women entrepreneurs.
"Women entrepreneurs are a huge commercial opportunity," says Elaine Kunda, Founder and Managing Partner of Disruption Ventures. "Early-stage investing is only one part of a company's success, which is why I am proud to announce this very unique strategic partnership with Scotiabank. Access to capital and banking services are critical to the sustainable growth and long-term success of any business. Scotiabank's support will create tremendous value for our portfolio companies."
"When we launched The Scotiabank Women Initiative in December 2018, we committed to supporting women business leaders through access to capital, education, and mentorship, and we've seen early success and tremendous engagement," says Gillian Riley, President & CEO, Tangerine, and executive sponsor of The Scotiabank Women Initiative. "Research has shown that women are significantly underserved in venture capital markets. Funding female entrepreneurs is what drives tangible change, and our partnership with Disruption Ventures is another way for us to expand access to capital and deliver on our promise."
Disruption Ventures will proceed with making initial investments and continue to fundraise to reach its objective in 2019, at which point it will be the largest private, independent, and women-only fund in Canada.
Re-disseminated by Wealth and Society
Keywords: Finance, Investments