AllBright claims it is the first funding platform of its kind and will combine an angel network with a crowdfunding platform as well as providing access to vital business resources and learning via its academy.
The duo behind the venture is Debbie Wosskow, the CEO of home sharing platform Love Home Swap, and Anna Jones, the former CEO of publisher Hearst Magazines UK.
Together, they have a track record of launching and scaling businesses and understand all aspects of a business’ lifecycle. The platform has also secured backing and support from an advisory board which includes:
● Lord Davies of Abersoch CBE, Chairman of Corsair
● Lou Cordwell, CEO Magnetic North
● Lord Chadlington, Serial Entrepreneur
● Tammy Einav, CEO Adam & Eve
● Ann Roughead, NED Columbia, Threadneedle
● Sherry Coutu CBE, Executive Chair of Founders4Schools
● Rosemary Leith, Investor & World Wide Web Foundation
● Benjamin Samuels, CRO Homestrings
● Alexandra Chong, Founder Lulu
AllBright intends to help address the funding gap that currently exists between male and female-led companies. Recent research shows that companies with women in leadership positions deliver strong returns, yet the majority of funding is directed at male-led companies with only 10 per cent of global venture capital funds directed at female-led businesses.
Co-founder, Debbie Wosskow, comments: “There is some exceptional female business talent in the UK just waiting to be discovered and accelerated. I’ve been on the journey they are making and understand acutely the difference accessing the right funding and support can make, as do our network of angel investors.”
“AllBright delivers on two fronts - not only do we get to ‘give back’ investing in and sharing our knowledge with the next generation, but there is also a real financial opportunity for our investors to benefit from the untapped asset class of some of the UK's best female entrepreneurs.”
Wosskow claims that a number of high net worth individuals and angels have already contributed around £10m into the AllBright fund.
In addition to the VC fund, AllBright is launching a crowdfunding platform which will allow members of the public to back female-founded companies, with investments of £100 and upwards.
The "AllBright Academy" will provide female founders with online courses and mentoring sessions.