A group of Canadian women in technology have launched Phoenix Fire, an angel stage investment fund with a systematic approach to investing in women entrepreneurs across Canada.
The fund will invest $100K to $250K in early-stage technology start-ups with high-growth potential and the ability to scale globally. Phoenix Fire is powered by Archangel Network, which launched in 2020 with a first close of $10 million.
The women of Phoenix Fire, also known as “The Firehood™” consists of over a dozen women with diverse backgrounds, mostly in technology. Founding members include:
Collectively, the team has decades of investing experience, and expertise assessing and selecting successful start-ups for angel capital.
“Our goal for Phoenix Fire is to unlock angel stage capital for women entrepreneurs. With the strategic value of The Firehood network, we will support our start-ups as they grow and scale globally,” says Danielle Graham.
The challenges women entrepreneurs encounter when pitching for funding are well documented. Despite all the attention focused on these concerns, women only receive 3% of venture capital funding.
While women represent over 50% of the Canadian population, the technology sector lags in comparison to other industries when it comes to the advancement of women. Several factors include limited access to networks, training, leadership opportunities and capital.
Starting in April, Phoenix Fire will host monthly networking events at Verity, bringing women together to enhance their participation, leadership and prosperity in technology.
For more information visit, archangelnetwork.ca/phoenixfire