Launch Angels seeking up to $1 million to invest in women-led startups

(iStockphoto)
(iStockphoto)

Boston startup investment group Launch Angels is seeking at least $250,000 and as much as $1 million for a new fund to back women-led early-stage businesses.

The firm has listed the new fund on SeedInvest, an equity crowdfunding site that only lists a small percentage of companies who apply. Only accredited investors are able to invest via the site.

The fund had $45,000 committed as of Monday morning.

The women-led fund is aiming to “close a major funding gap for women’s ventures that will benefit women, the economy, and investors,” Launch Angels chief executive Shereen Shermak said in a news release.

Founded last year, Launch Angels previously closed a $1 million fund with investments pooled from some associated with PayPal-acquired Where Inc. The fund — dubbed the Where Angels Fund — is focused on backing mobile and consumer Internet companies.

Shermak previously cofounded financial tech startup BuysideFX, and before that was a vice president at State Street and Fidelity. Shermak is based at PayPal’s StartTank startup incubator in Boston.

Kyle Alspach has worked in journalism in Massachusetts since 2005 and was one of the original staff writers at BetaBoston.
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