All-Female VC Firm Capital F Closes $17M Fund, Backing Women-Led Companies

Capital F, one of the few all-female-led VC firms, has closed its debut fund with a $17 million investment. The firm backs companies in the 'female economy,' including those focused on women's health, digital commerce, and AI tools.

Capital F was co-founded Both women have had successful careers in the corporate world, with Coblentz working at luxury knitwear brand and Dobras at Gap and Charlotte Russe. For related coverage, explore our detailed analysis on Technology and Digital Systems.

Founders Background

The firm's debut fund focuses on early-stage companies that are backed Capital F has cut checks to 13 companies, including telemedicine startup Hey Jane, hormone-tracking platform Stardust, and Steller Sleep, which Google acquired last year.

Capital F aims to make a positive impact in the 'female economy' The firm expects to finish deploying the fund within the next few months and is excited about the potential for growth in this area.

The journey to raise this fund had its ups and downs. Capital F realized that many times women aren’t invited into the rooms to invest in funds, so they created salons events across the country to bring more women into investing. As a result, almost 80% of the fund’s LPs are women.

Fund Strategy

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Capital F, one of the few all-female-led VC firms, confirmed Wednesday the $17 million close of its debut fund.

The firm backs companies building in the “female economy” — or the markets where women drive demand. That mainly falls into three buckets for the firm, Margaret Coblentz, the firm’s co-founder, informed TechCrunch — women’s health, digital commerce, and AI tools.

The latter is increasingly important since “women are disproportionately the victims of trust and safety violations,” Dawn Dobras, the co-founder of Capital F, added.

Coblentz and Dobras spent the last 30 years running companies together. Dobras was notably the CEO of the clean beauty retailer Credo Beauty and spent a decade at Gap before moving on to the clothing retailer Charlotte Russe. Coblentz also worked at Charlotte Russe before launching her own luxury knitwear brand, which eventually exited.

Coblentz stated she and Dobras resolved to come together and launch a firm after spending years at the executive top ranks and realizing that “there weren’t a lot of women there.” “If you had requested me maybe 15 years ago, ‘are you going to go into venture?’ I don’t know that I would have stated yes,” Coblentz stated. She and Dobras started angel investing after their corporate careers, and always knew that “who writes the check and who owns the company matters quite a bit.” They first worked together almost 17 years ago at Charlotte Russe and figured, well, second time was the charm.