We would like to clarify a few key facts around the Invest in Women Taskforce’s Women backing Women fund of funds, of which we are the proud fund managers.
The Invest in Women Taskforce has two distinct, and necessary, approaches: a wider funding ‘pool’, and a dedicated fund of funds, which together make up the £635m capital convened in just under two years.
The wider funding pool
The Taskforce Co-Chairs, Debbie Wosskow and Hannah Bernard, have secured commitments from partners the British Business Bank (£100M), Aviva (£50M), the BGF (£300m), Visa Foundation (£5m) and Morgan Stanley (£25M). Deployment by these investment partners began in 2025, with £70.5m invested to date across 15 deals – one fund and 14 female founders.
The Women backing Women fund of funds – Bootstrap’s mandate
Following a rigorous recruitment process, Bootstrap4F was appointed in March 2025 to raise – and, once closed, deploy – the Women backing Women fund of funds, with an overall target of £250m. We take this responsibility seriously. Critically, like the female fund managers we seek to back, we were not handed capital. We have raised this fund in the same market conditions, against the same headwinds, as the GPs now waiting to work with us. We understand the urgency because we are experiencing it.
Raising a fund in the UK and Europe takes an average of 18-24 months. We are on track to beat that timeline. Early commitment from key LPs was instrumental, and the additional three months gave us the opportunity to secure a further £55m in commitments – including new anchor LPs, the British Business Bank and Nationwide – bringing total commitments to the targeted £130m first close, subject to final terms and relevant approvals.
As a female-run fund, we are acutely aware of the bias and structural obstacles faced by female investors and founders alike. We empathise with the GPs eager to see these resources deployed. But having been in similar positions, we also know that commitments made before a fund is ready to deploy do not serve anyone well. Market practice requires that commitments are signed before the formal investment process with GPs can begin. That process has not yet commenced, but it is close.
The data is clear: it tells us that capital flowing to female-led fund managers remains shockingly low relative to male counterparts, and the market is not yet filling the gap. As a result, we have received substantial interest from a large number of highly accomplished women seeking to raise funds. We have managed the interest as efficiently as possible while maintaining focus on reaching first close. Formal due diligence will begin once legal terms are finalised and we officially launch.
If you are a GP seeking to work with the Women backing Women fund of funds, do continue to register your early interest via the fund on our website. This ensures your fund is on our pipeline from the moment we start the formal process. Here https://bootstrap4f.com/ and here https://form.typeform.com/to/Rlb7N630?typeform-source=bootstrap-europe.com
First close is imminent. The work we have all been waiting for is about to begin, and we thank you for working alongside us.
The Bootstrap4F team
