New York-based BBG Ventures, a seed-stage investor that focuses on female-founded companies, announced it has raised $50 million for its third and largest fund to date. LPs include the George Kaiser Family Foundation, State of Michigan Retirement System, Verizon Ventures, Nordstrom, Bank of America, Global Endowment Management, Industry Ventures, Gingerbread Capital and such individuals as Tim Armstrong, Kevin Ryan, Aryeh Bourkoff and LionTree Partners, Aileen Lee, Jen Fonstad, Andy Dunn, Paya I Kadakia, Anjula Acharia, Shan Lyn Ma, Tracy Sun, Michelle Kennedy, Nancy Twine, Carly Zakin and Danielle Weisberg.
The firm said its sectors of interest include health and well being, the future of education and work, climate friendly commerce, overlooked and emerging consumers. Early investments of Fund III include Starface, Real, Oova, Planet FWD, Alula and RadSwan.
Founded in 2014 by Susan Lyne and Nisha Dua, the firm previously raised two $10 million funds with backing from AOL, now known as Verizon Media.
Source: BBG Ventures