A $10 million venture capital fund for female led startups in New South Wales has been axed by the Minns government. The fund never got off the ground but its removal will disappoint a startup sector already reeling from other cuts in the September Budget.
Announced nine months ago by the then-Coalition state government, the Carla Zampatti venture capital fund was to support startups led by women, in honour of the late fashion designer and businesswoman.
Alberts investment fund manager Lisa Fedorenko said it was disappointing the government had stepped back because getting backing to more female entrepreneurs needs collaboration.
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This is a little unclear. Gone now or end 2025?
“The state government will continue to fund the Female Founders Program, designed to provide female founders from across the state with skills for growing startups. The program launched in June and will run to 2025, with an expected participation of 300 female founders.”
The Female Founders Program is a separate initiative provided by online platform Tech Ready Women, with the government funding placements. Hope that clarifies.