Dear Friend,
As we close out this month’s celebrations for Women’s History Month and International Women’s Day, we wanted to take a moment to reflect on how we take the mission beyond March.
This year, the UN Women theme for International Women’s Day, ‘Invest in Women, Accelerate Progress’ encapsulated our mission - working to shift more capital towards women and in so doing, accelerating progress towards gender equity.
A tangible instance of our mission in action came in New York City on March 13th, alongside the United Nations’ 68th session of the Commission on the Status of Women (CSW 68). That was when, together with USAID, Amazon, Visa Foundation Reckitt and the UPS Foundation, we announced ATG Samata and wCap, two Africa-based, women-led fund managers as the latest grant awardees under the USAID Climate Gender Equity Fund (CGEF). The fund aims to increase climate finance for gender-responsive, women-led, and women-benefiting organisations.
The two fund managers round out the cohort of awardees under the first round of grants joining women-led network organisations M-Kyala Ventures, The Clean Technology Hub, and WomHub. This brings the total awarded in the first funding round to USD $1.9 million.
Applications to the second funding round of CGEF will be open by mid-April.
Another way in which we are investing in women is our 2X Ignite initiative, which advances women-led and diverse fund managers. We’re currently looking for Strategic Advisors for the fund managers participating in 2X Ignite’s Africa GP Sprint. If you are a more experienced GP, or an investment professional keen to provide the LP perspective, please apply here. This second Africa cohort is supported by MEDA (Mennonite Economic Development Association) and FSD Africa.
Strengthening the ecosystem to facilitate more investment in gender-smart businesses requires data to know where the opportunities are and identify where synergies may exist. To that end, keep an eye out for the upcoming report from Project Catalyst, the joint gender lens investing (GLI) research initiative from 2X Global and Sagana Consulting, supported by the Visa Foundation.
The study comes out of a sector-wide survey of nearly 200 investors and fund managers worldwide working in private equity, venture capital, and private debt and will provide valuable and actionable insights on the state of play in the market.
As we head into the second quarter of the year, we are reminded that there’s so much more to do, on all fronts, if we are to make real the promise of March.
Read on for a selection of GLI news.
In Community,
2X Global team