Gaingels

Gaingels is an American venture capital firm headquartered in Burlington, Vermont. The firm focuses on investing in companies with diverse and underrepresented (including LGBTQIA+) leadership as well as progressive social values.[2] Pitchbook ranked it as the ninth most active venture capital firm in 2022 globally with 273 deals.[3]

Gaingels Ventures LLC
TypePrivate
IndustryVenture Capital
Founded2014 (2014)
FoundersDavid Beatty
Paul Grossinger
HeadquartersBurlington, Vermont, U.S.
Key people
Jennifer Jeronimo (CEO)
AUMUS$600 million (January 2022)
Websitewww.gaingels.com
Footnotes / references
[1]

Background

Gaingels was co-founded in 2014 by David Beatty and Paul Grossinger.[2][4][5][6][7] The name Gaingels is a mix of "gay angels" and "gaining from angels".[4][5] It started as a small angel investor group syndicate made up of LGBTQIA+ investors that would invest in companies founded by those in the LGBTQIA+ community.[2][5][6][8]

In 2015, Gaingels did its first deal.[4]

in 2018, the founders recognized the lack of diversity in the venture capital scene and how investors would discriminate against company founders who did not fit the traditional mould such as being gay, female or being from a minority group. The firm's mission was expanded to foster social change through investing and to create a more diverse and inclusive environment in the venture capital scene. The firm which originally focused on just investing in LGBTQIA+ founded and led startups expanded its scope to invest in more companies to bring more diversity to its investments. It would also help its portfolio companies improve its diversity at leadership level.[2][4][5][6][8][9]

Gaingels' investments have grown from $5 million in 2018 to $50 million in the first eight months of 2020 as a result of its structural change.[8][9] Gaingels also partnered with other investors allowing it to obtain more deals.[8][9]

In 2020, Gaingels launched its scholarship program to support LGBTQIA+ students.[2][10]

Outside the U.S., Gaingels has offices in Australia, London and Toronto.[4][5]

Notable Investments

References
  1. "Form ADV" (PDF). SEC.
  2. Blake, Tom (2022-06-15). "Gaingels: An LGBTQIA+ Friendly Venture Investment Syndicate". Investor Junkie. Retrieved 2023-03-24.
  3. "Global league tables: 2022 Annual | PitchBook". pitchbook.com. Retrieved 2023-03-24.
  4. Dunne, James (June 16, 2019). "LGBT investing group Gaingels makes its 1st Canadian deal". CBC News.
  5. Ramanujam, Priya (2018-02-11). "LGBTQ-focused investing group Gaingels coming to Canada". The Globe and Mail. Retrieved 2023-03-24.
  6. Fall 2016, Joe Sugarman / Published (2016-09-07). "Investing is personal for Paul Grossinger". The Hub. Retrieved 2023-03-24.
  7. Bogoslaw, David (2022-06-23). "Colorful Capital aims to broaden LGBTQ+ founders' access to VC". Venture Capital Journal. Retrieved 2023-03-24.
  8. "Gaingels ratchets up dealmaking to advance LGBTQ causes | PitchBook". pitchbook.com. Retrieved 2023-03-24.
  9. "From Wall Street to Silicon Valley, LGBT+ investment on the rise". Reuters. 2020-09-10. Retrieved 2023-03-24.
  10. marcomm (2019-08-16). "Gaingels Scholarship". California Community Foundation. Retrieved 2023-03-24.
  11. "Series B Announcement – Finless Foods". finlessfoods.com. Retrieved 2023-03-24.
  12. Ha, Anthony (2021-01-26). "'Anti-superficial' dating app S'More raises $2.1M". TechCrunch. Retrieved 2023-03-24.
  13. Bryant, Taylor (2023-01-19). "Thirteen Lune Closes $8M Funding Round". Beauty Independent. Retrieved 2023-03-24.
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