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Overview:
Chloe Capital is an organization that connects, supports, and invests in diverse and women-led software companies, driving innovation in energy, workforce, and health. The firm operates national accelerator programs and manages three investment vehicles: SPVI, SPVII, and their inaugural fund, Chloe Capital Fund I.

Following the success of Chloe Capital Fund I, Chloe Capital is now raising $50MM for Chloe Capital Fund II to scale its impact and invest in more startups led by women and BIPOC founders. They primarily back founders within their founder ecosystem or graduates of their nationwide accelerator programs.

Opportunity:
Chloe Capital Fund II is raising a $50MM fund, with a 10-year lifespan. The fund targets 5x return on investment. The minimum check size per donor-investor is $25K.

Thesis:
Chole Capital Fund II is a $50MM venture capital fund that aims to invest in 25 seed-stage, diverse, or women-led startups. The fund primarily backs U.S.-based companies, with 30% allocated to international startups.

Founder Criteria:

Chloe Capital Fund II is industry-agnostic but prefers investing in seed-stage startups operating in the B2B SaaS and Leading Edge Tech verticals. Startups must meet the following criteria to receive investment consideration:

• Product in Market

• Early Traction

• Proven Product-Market Fit

• Initial Revenue

• Key Customers and Partnerships

Terms:

The fund will invest $500K in initial capital and up to $2.5MM in follow-on funding per company. They seek to lead rounds, back companies with an initial valuation of $5MM, and secure a 10% initial ownership stake. The primary investment instrument leveraged by Chloe Capital is convertible notes.

Track Record:
To date, Chole Capital has raised and deployed $10.5MM across three vehicles (SPVI, SPVII, and Fund I). They’ve invested in 50 diverse-led startups that have raised $300MM in follow-on funding. Additionally, since the launch of Chloe Capital Fund I, they’ve generated 6 exits (one valued at ~$100MM) and returned 1.045 MOIC.

Since 2017, Chloe Capital has launched 12 nationwide accelerator programs in regions such as Binghamton, Boston, Ithaca, Denver, LA, New Orleans, and more. They’ve received immense support from foundations, universities, and corporations, including the Richard King Mellon Foundation, Ascender, NYSERDA, Cornell University, NYEDC, and others. These groups issue grants to Chloe Capital to underwrite the cost of each accelerator.

To date, the Chloe team has accomplished the following:

• Launched 18 accelerator cohorts across 12 cities.

• Accepted and supported 130 companies through accelerator programming.  

• Established relationships with 5,000 co-investors.

• Developed a pipeline of over 4,500+ startups.

• Grown their ecosystem of founders, partners, investors, and community champions to 50,000.

Mission Alignment:
Chloe Capital's mission is to propel women-led and diverse-led entrepreneurs. By running accelerator programs outside major tech hubs and investing in diverse-led startups, their work closely aligns with Inspire Access’s mission to mobilize capital for underrepresented founders and support underrepresented communities.

Chloe Capital has significantly supported underrepresented founders by offering flexible programming, childcare for accelerator participants, access to a network of experts and co-investors, and direct funding. They have expanded their accelerator to 11 markets, supported over 130 companies, and created over 900 jobs.​

In addition to their domestic initiatives, Chloe Capital has partnered with Carolyn Lee PLLC to assist qualified investors seeking relocation to the United States. Through investment in Chloe Capital, individuals can access a pathway to a renewable E-2 visa valid for five years.

Team: