Women-led seed capital fund SheEO to be offered in New Zealand

by Nona Pelletier / 19 October, 2017
RelatedArticlesModule - Women in biz

Toronto based serial entrepreneur and founder of SheEO, Vicki Saunders, and the co-founder of My Food Bag, and former Telecom chief executive Theresa Gattung. Photo / RNZ

A group of women business leaders and other investors have launched a capital fund designed to support new ventures led by female entrepreneurs.

New Zealand is the first country outside of North America to offer the SheEO World funding model, which brings together 500 women investors, contributing $1100 each to establish a perpetual funding pool.

The fund invests in up to five ventures at a time, offering interest-free loans to women-led business to be repaid over a five-year period.

Business executive Theresa Gattung said only 4 percent of venture capital was currently going to women.

"We are half the population and we have enough capital, enough money to support other women-led businesses.

"We don't have to wait all the time and ask for permission from men," she said.

"So it is a simple concept and also picks up that women are major customers and mentors of other businesses."

Ms Gattung said international research indicated about 1 percent of corporate purchases were made at women-led businesses.

"If you look around the world, it's always more difficult for women-led businesses to sell into companies, to get finance etc, so this is really about giving some women-led businesses a start by being supported by other women."

The SheEO programme is also running in the United States, but was established in Canada about three years ago with the first funding round distributed in 2015.

Ms Gattung said she was inspired to bring the programme to New Zealand after hearing Canadian founder Vicki Saunders talking about its early promise.

"Half a million dollars is only a relatively small amount of money, but the businesses that have already been part of this venture, they will tell you that the combination of the support of the group of the women who have helped fund them also being their advocates, being their customers and potentially getting them into companies, is life changing for them and their businesses," Ms Gattung said.

Applications for SheEO World opened online yesterday with the first five investments to be announced in April.

This article was originally published by RNZ.

Latest

Give Kate A Voice: Bringing Kate Sheppard's speeches to life
96352 2018-09-24 00:00:00Z History

Give Kate A Voice: Bringing Kate Sheppard's speech…

by Noted

Famous Kiwi women read the powerful words of Kate Sheppard, who fought for the right for women to vote.

Read more
Ladies in Black – movie review
96686 2018-09-24 00:00:00Z Movies

Ladies in Black – movie review

by Russell Baillie

This nicely nostalgic female coming-of-age tale set in a Sydney department store almost sings.

Read more
A Southern man goes for gold in Garston growing hops
95518 2018-09-24 00:00:00Z Small business

A Southern man goes for gold in Garston growing ho…

by Mike White

Nelson and Motueka are well known for their hops but Garston hops are starting to be noticed by brewers.

Read more
How to lower your exposure to potentially toxic household products
96525 2018-09-24 00:00:00Z Health

How to lower your exposure to potentially toxic ho…

by Nicky Pellegrino

Alexx Stuart advocates changing one thing a week. With personal-care items, she says the place to start is body lotion.

Read more
The unrest in Chemnitz is a sign that Germany has a populist problem too
96655 2018-09-23 00:00:00Z World

The unrest in Chemnitz is a sign that Germany has …

by Cathrin Schaer

The populist contagion sweeping Europe spreads to Germany, Cathrin Schaer writes from Berlin.

Read more
The alarming new evidence about chemicals and plastics we use at home
96233 2018-09-23 00:00:00Z Science

The alarming new evidence about chemicals and plas…

by Nicky Pellegrino

From sperm counts to obesity, scientists are only beginning to understand the long-term health effects of many chemicals in everyday use.

Read more
Why preservative-free cosmetics are a tough commercial product
96522 2018-09-23 00:00:00Z Health

Why preservative-free cosmetics are a tough commer…

by Nicky Pellegrino

Preservative-free cosmetics that survive in your bathroom cupboard are a challenge, says Evolu founder Kati Kasza.

Read more
The arguments for and against allowing medicinal use of cannabis
96641 2018-09-23 00:00:00Z Psychology

The arguments for and against allowing medicinal u…

by Marc Wilson

There’s an increasing amount of evidence on cannabis effects, but it's far from straightforward.

Read more