xElle Ventures Debuts as North Carolina's Only 'For Women, By Women' Venture Network
Dedicated to Elevating the Wealth Quotient for Women Founders and Investors
By: xElle Ventures
Chairman of xElle Ventures Board, Robbie Hardy, states, "The data is clear. People subconsciously look for versions of themselves when investing. Only 10 percent of those making the funding decisions in US based Venture Capital today are women and, in turn, only 2.2% of the dollars awarded have gone to women. North Carolina's composition is no exception." The group believes a focus on funding women entrepreneurs in North Carolina is overdue. xElle Ventures is unique in that it is the first and only wholly 'for women, by women' Angel Network in North Carolina. Hardy states, "We hope to establish an easy to replicate model that helps foster the spawning of many more such networks across the country."
The 15 founding members of xElle Ventures are seasoned executives and experienced entrepreneurs. The founders expect to bring fundamental change to who is receiving funding and which ideas win venture support in North Carolina. In addition to providing early stage funding support for vetted startups of female founders, xElle Ventures will leverage the vast experience of its collective members to provide counsel to portfolio companies in a model they call their 3M approach: Money, Mentoring & Marketing.
Initially, the group will provide seed capital via equity neutral debt vehicles in the range of $20,000 to $100,000. The group's website details their investor criteria and how companies can apply through the Gust platform.
About xElle Ventures
xElle Ventures is dedicated to increasing the wealth quotient for women, both entrepreneurs and investors. Located in Durham, North Carolina, xElle Ventures was founded by 15 female executives and entrepreneurs from across the state. The group aims to become the most active investor in women-founded businesses in the North Carolina and establish a model that fosters like-minded networks across the country. More information can be found at www.xelleventures.com