Laura Rooseboom
Closing the funding gap
Borski Fund is named after Johanna Borski, one of the first Dutch female investors. “She is our role model because more than two hundred years ago she was a very active investor and among other things co-funded the establishment of De Nederlandsche Bank,” Laura explains. “Unfortunately, not much has changed in 200 years as still only 2 percent of investment capital goes to growth companies owned by women and 7 percent goes to mixed teams. All the rest of the investments go to male-only teams.” The fund has therefore set itself the goal of closing this "funding gap" as soon as possible. Laura: “That is why Borski is the first tech and innovation fund in Europe that invests solely in women-led startups, from seed stage to scale-ups.”
Changing the investment landscape
“By investing, we want to not only narrow this funding gap but also change the entire investment landscape,’” Laura continues. “We think that as more women build successful businesses and eventually sell them, three important developments will take place: 1) more female role models will emerge to inspire other women to start their own businesses. 2) these women are likely to invest in the new generation of women entrepreneurs as it is a known fact that most business angels were entrepreneurs themselves. 3) Different, much-needed innovations are coming to the market, such as femtech solutions. These innovations contribute positively to women's health and fill gaps in medical care.”
Medical innovations
Unlike other funds, Borski Fund has no complaints about the choice of good female start-up entrepreneurs. “There is certainly no lack of interest: around 600 entrepreneurs apply to us every year,” says Laura. “We mainly look at tech companies with hefty ambitions.” Interestingly, a third of the start-ups and scale-ups that apply are in the medical field. Laura thinks this is because entrepreneurs often start a company to solve a problem or frustration they encounter in their work. "I think among doctors and other highly educated medical personnel, the male-female ratio is more balanced; that leads proportionally to many start-ups by women in this field. Many other technical professions still tend to employ more men. In my opinion, this is mainly a social issue. There's not much you can do about that as an investor. It will help if we regulate childcare better in the Netherlands.”
Tips based on experience
What advice would Laura give to start-ups with female and under-represented founders, who are currently experiencing pushback?
"Different, much-needed innovations are coming to the market, such as femtech solutions. These innovations contribute positively to women's health and fill gaps in medical care."
Tip 1: Look for investors with mixed investment teams. Female investors look at businesses differently than men and recognize different kinds of problems and opportunities.
Tip 2: Prepare yourself well by speaking with other founders who have already raised money before going to investors.
Tip 3: Be aware that investors will cut your projections in half, so don't be too modest in your projections and/or about the amount of money you want to raise.
Tip 4: Fundraising is difficult for everyone, it takes a lot of time and effort, so start on time when you still have enough money in the bank.
Tip 5: To reach your end goal, keep your eyes on the road towards it, and don't let setbacks throw you off the trail.
New funds, new opportunities
Laura is happy to see more and more attention to the themes of equality, diversion, and inclusion. “But that doesn’t mean the funding gap is closed. That’s why we are in the process of raising a second Borski Fund. This fund has the same goals as the first: more female investors, more female founders, and more diverse tech innovations. Interested female investors and entrepreneurs are welcome at our offices for an informal introduction.”
