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Bumble announces a fund to invest in women-led businesses

PICTURED: Bumble Fund at work: Cleo Capital managing director and fund adviser Sarah Kunst (left) poses with Bumble COO Sarah Jones Simmer (right) and recently backed entrepreneur Anasofia Gomez (Photo credit: Bumble)

DATING APP Bumble has announced the launch of Bumble Fund, a new vehicle focused on early stage investments specifically aimed at helping diverse, female entrepreneurs raise capital for their businesses.

According to Tech Crunch, Bumble Chief Operating Officer, Sarah Jones Simmer will lead Bumble Fund’s investment strategy along with Bumble Senior Advisor, Sarah Kunst, the company says.

“Investing in and empowering women in business is something that our founder and CEO Whitney Wolfe Herd is deeply passionate about and is at the very core of what Bumble stands for,” said Jones Simmer, in a statement about the fund’s launch.

“Through Bumble Fund we’ll look not only to support those women leaders who have been largely ignored, but we’ll also demonstrate why those investments build smart, successful businesses.”

The new fund will make investments that range from $5,000 to $250,000, in companies that are headed by women and focus on women’s interests.

The Bumble team will also work to identify new, potential investments via Bumble’s own Bumble Bizz platform – the dating app’s business networking platform available within its flagship mobile app.

Bumble, currently has over 37 million users worldwide and has an 85% female workforce. It says it wants to help solve the problem of women being “largely ignored by the venture capital establishment” with this fund.

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