Two groups are raising a $500K fund for women-led ventures

The Alliance of Women Entrepreneurs (AWE) has supported high-growth women entrepreneurs since its founding nearly 20 years ago, but for the first time in its history, it’s about to get a dedicated pool of capital to fund early-stage, women-led ventures.

AWE is partnering with state-backed venture firm Ben Franklin Technology Partners to launch AWE Ventures, which aims to raise $500,000. AWE and BFTP will announce the fund at the PACT Foundation Luncheon today. (The luncheon is focused on celebrating women-led ventures — a swing in the opposite direction of a recent PACT event that had a paltry number of women speakers.)

The pair is taking a unique route in raising the fund: it’s soliciting donations in a crowdfunding-esque manner. BFTP will match up to $250,000. PACT has already committed $10,000, said BFTP spokesman Jason Bannon.

Click here to read the full article written by Juliana Reyes, Philly

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