Los Angeles-based Amboy Street Ventures, which claims to be the world's first venture capital firm focused on underserved women's health and sexual health start-ups that is democratizing healthcare for all genders, closed its debut $20 million fund.
WHO: Amboy Street was founded by investor and former engineer Carli Sapir and is supported by General Partners Dominique Karetsos and Dr. Maria Godoy, leaders in the women’s and sexual health industry. Amboy Street has already invested in eight start-ups and realized its first exit as Gennev (a telehealth and product line for menopausal women) was acquired by Unified Women’s Healthcare. Other start-ups in the portfolio that are pushing the industry forward include: Evvy, vaginal microbiome testing and care; Hey Jane, telehealth abortion access; Contraline, male birth control; Dame Products, female-focused sexual pleasure products; HerMD, telehealth and brick-and-mortar menopause and sexual health services; Aunt Flow, free menstrual products for more than 19,000 bathrooms nationwide; and Dipsea, audio erotica subscription app.
WHY: With this new fund, Amboy Street will invest in the Seed and Series A stages of women’s health and sexual health start-ups to both lift associated stigmas and usher forward a new world of inclusive health and well-being.
IN THEIR OWN WORDS: “The women’s health and sexual wellness space is a trillion-dollar market opportunity,” said Founding Partner Carli Sapir. “The lack of historical investment in these industries (less than .5%) has stunted the innovation needed to address women’s health and sexual health issues. Our goal is to back innovative startups that are filling major market gaps and improving the health and wellbeing of people around the world.”
“Amboy Street’s hands-on approach helped us gain access to the resources, tools and partners we needed,” said Alexandra Fine, CEO of Dame Products. “They believed in our vision with conviction, and we are proud to be included in this new fund.”
“The decision to invest in Amboy Street was an easy one for me,” said Colleen Foster, former Goldman Sachs Partner, and Treasurer of Planned Parenthood Federation of America. “The economics of investing in women and their healthcare from puberty to post-menopause produce outsized returns. Our founders are solving problems that a century of underinvestment has ignored. Not only do I feel a moral imperative to drive capital to underserved communities and businesses, I also strongly believe that gender equity won’t be achieved in my lifetime without it. I knew from my first meeting with Carli Sapir that she was the investor I wanted to back. I was impressed with her market analysis, underwriting criteria, founder selection, and the personal brand she had built in a short period of time.”
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