Cleo Capital, Sarah Kunst’s venture capital fund, is setting is sights on raising $10 million to fund female entrepreneurs. The money will be divided amongst “Scouts” who will act as a kind of agent, looking for early-stage startups to invest in. The Scouts will receive a portion of the profit on the investments made on these startups.

Aside from Cleo Capital, Kunst participates in other female-focused funds as well, such as Bumble. The popular dating app has also announced their Venture Capital fund which will target early-stage startups ran by women.

This decision seems congruent with Kunst’s passion for female and minority founders, and has become a leading voice in exposing the realities of gender inequality in the industry. Amongst the issues she tackles, she condemns the incredible lack of people of colour that are being hired.

According to PitchBook, only 11.3% of partners in Venture Capital firms were women in 2017, but thanks to women like Kunst, it is very likely these numbers will change in the coming years. This year alone, Venture Capital firms run by women have raised nearly $2.5 billion, which almost surpassed last year’s $3.2 billion.

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