The51 Launches $30 Million Third Fund With BMO, Targeting Female-Led Startups

1 articles · Updated · The Globe and Mail · Jun 1

$30 million is the target for The51’s third venture fund, with Bank of Montreal signed on as lead investor and 17 female co-anchors already committed.
The Calgary-based firm said the new fund will back companies in health, wealth and work—areas where women are major consumers but founders remain underfunded.
Women-led companies receive only 2% to 4% of venture capital in Canada, a gap The51 says it aims to narrow as more capital is steered to female founders.
The51’s first two funds closed in 2020 and 2022, and 81% of their portfolio companies are led by women CEOs, giving the firm a track record as it expands.