Gobi Partners commits to invest $50m in women-founded startups

Shannon Kalayanamitr (left-most) at the signing of the TBDF pledge / Photo credit: Gobi Partners

Gobi Partners, a Chinese VC firm with a huge presence in Southeast Asia, signed a pledge today to invest US$50 million in businesses established by women.

The signing ceremony was held in Bali, Indonesia at the Tri Hita Karana Forum 2018, which is happening in conjunction with the International Monetary Fund and World Bank annual meetings.

“I joined Gobi because it was one of the earliest funds that identified the underserved women market – I’m living proof. We put money where our mouth is,” said venture partner Shannon Kalayanamitr, who signed the pledge on behalf of the VC. Kalayanamitr co-founded and was the chief marketing officer of lifestyle ecommerce platform Orami, which is backed by Gobi.

Gobi made the commitment as a participant in The Billion Dollar Fund (TBDF), a global campaign organized by the Global Funders Consortium that seeks to raise US$1 billion in funding over the next decade for companies founded by women. TBDF has so far secured US$460 million worth of pledges from investors.

To date, Gobi has raised 10 funds and invested in more than 200 startups. It has nine offices across Asia, and supports companies in early to growth stages. One-third of its portfolio is led by women entrepreneurs who have received a total of about US$30 million in investments.

Apart from increasing its overall investment, the Chinese VC says it will ensure to provide constructive feedback to women who pitch to it and are declined.