Techjockey News

20SALES, a pioneering venture capital fund, proudly announced the successful closure of its first fund, amassing an impressive $5 million. This group is led by talented women leaders. This fund will primarily focus on providing investments to promising early-stage businesses in SaaS companies.

The recently introduced fund emerges as a distinct entity from venture firm 20VC. Its primary objective is to support early-stage companies by providing investments starting from $100,000 for seed, Stage A and pre-seed stages. As of now, the fund does not allocate reserves for subsequent investments. Instead, it prioritizes securing ownership during the initial investment phase.

The fund aims to make investments in a minimum of 50 companies within the next two years. The fund’s objective is not exclusively centered around supporting women. It seeks to prioritize and direct its efforts toward empowering women-led ventures whenever feasible.

In addition, the fund has a goal of fostering a supportive network of women entrepreneurs. Unfortunately, female business owners currently receive a meager share of less than 3% of the total venture capital funds distributed annually.

Magie Hott, the founding partner of 20SALES, expressed the fund’s determination to increase the financial support provided to female entrepreneurs, stating, “Our objective is to back a larger number of talented women in business.”