WFCO Celebrates Investments in Two Women-Led Social Ventures
WFCO Celebrates Giving Circle’s Investments in Two Women-Led Social Ventures
Women’s Impact Investing Giving Circle Awards Funding to Colorado Birth & Wellness, WOMAN IN THE NATION
The Women’s Foundation of Colorado’s third cycle of funding to women-led social ventures through our Women’s Impact Investing Giving Circle (WIIGC) concluded with two highly relevant and innovative organizations receiving a total of $75,000. The social ventures – which can include projects, nonprofits, small businesses, start-ups, funds, cooperatives, and ideas – are Colorado Birth & Wellness and WOMAN IN THE NATION.
WFCO partnered with Impact Finance Center to host the Women’s Impact Investing Giving Circle for the third time since 2021. Up to 20 members provide funding opportunities each cycle for social ventures led by and benefitting women who historically have had limited access to capital.
Equitable Funding Is Rare
“Through the Women’s Impact Investing Giving Circle, The Women’s Foundation removes barriers that women encounter in accessing capital,” said Renee Ferrufino, WFCO vice president of development. “We intentionally provide below-market rates as a measure of trust in their entrepreneurial success.”
Giving circle members do not earn income or receive return of principal. This model allows the giving circle an opportunity to increase the funds for investing in later cycles, while allowing the social venture to keep more of their profit than other models. In return, through a hands-on process, giving circle members receive education and guidance in due diligence and venture selection from Impact Finance Center. Part of the learning process includes embarking on a journey to recognize personal biases, followed by active efforts to address them through an equitable investment model.
“It’s an approach that contrasts with investment returns typically expected by early-stage investors, which can be up to 10x,” said Stephanie Gripne, CEO of Impact Finance Center. “The third cycle presented us with a unique opportunity to develop an equitable equity investment model, resulting in a 1.25x return on the net profits. The collective power of informed and committed investors can drive significant change, especially in supporting ventures that advance women’s rights and well-being.”
Social Ventures
The first social venture selected by the giving circle addresses maternal mortality. According to the March of Dimes, 25 of Colorado’s 64 counties are maternity care deserts, meaning that they don’t have a hospital performing deliveries or a birth center and lack an obstetrician or midwife.
Colorado Birth & Wellness is a holistic, family-focused wellness and birth center serving families from preconception through pregnancy and beyond. Colorado Birth & Wellness provides women, particularly in underserved communities, with comprehensive birth and wellness care.
“The funding that CBW was honored to receive directly funds the center to allow us to care for all families entering into our care. In addition, the funds allow for community outreach to those living in a maternity desert without the evidence-based care model,” said co-founder Miki Tynan.
The Women’s Impact Investing Giving Circle also supported a native woman’s endeavor to share indigenous stories through mass media.
WOMAN IN THE NATION is a venture to produce a prime time or streaming series about three generations of an Indigenous family. Filming will be based in Colorado and employ the production talent of women.
“With this social venture we hope to share a story and characters in which we see ourselves, our own strengths, challenges and humanity, and create opportunities for women,” said founder Gemma Lockhart. “A series in Oklahoma that was similar in production size recently was estimated to have had an economic impact of $50 million upon the state’s economy and created over 480 local career opportunities for the production workforce over a three year run. We want to accomplish something akin to this level of impact.”
Overall, nine social ventures made 90-second pitches to the members of WIIGC and the giving circle made its decisions in early 2024. With the third round of funding, the giving circle has invested a total of $280,000. The first round invested $80,000 in Sistahbiz and The Village Institute. The second invested $125,000 into First Southwest Community Fund, JEKL Foundation, and Ruby’s Market.
A Member’s Perspective
Giving circle member Jenn Uhen is a small business owner, real-estate investor, Certified Financial Education Instructor®, and founder of the Pledgettes. The Pledgettes is a financial companion so women don’t need to be alone on their financial journey. The Pledgettes does this with community, events, small group programs, and more.
Jenn wanted to learn more about impact investing and use her money to address women’s lack of access to capital. In particular, she found it troubling that women often opt to start nonprofits over for-profit businesses. One reason is because women-owned for-profit businesses receive less than 2% of venture capital dollars and therefore seek grants as a non-profit.
“Women can and should have for-profit businesses,” said Jenn. “I learned a new perspective of investing in businesses that isn’t about extraction, but about collaboration, generosity, and community. Offering generous terms to businesses is refreshing. It was wonderful to hear feedback from the two organizations we invested that never thought it was possible to receive a below-market rate loan. It also felt good to offer debt to these businesses vs. grants because as the organizations pay back their loans, the money will be used again for other women-owned businesses,” she said.
Jenn also was drawn to learn from a circle of women who were in various stages of their philanthropic journeys but shared a common goal of using their money to build the futures they want to see.
“I think we’re in a healing state where we don’t have to make it so hard for women,” she said. “Our money is powerful.”
To inquire about our next cycle of the Women’s Impact Investing Giving Circle, contact Vice President of Development Renee Ferrufino.
