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Rethink Impact raises $110 million for women-led social startups

Women Rising

Rethink Impact has raised $110 million for women-led social startups.

Rethink Impact was launched by former tech CEO Jenny Abramson with Seavest Investment Group in 2015 and is co-led by Heidi Patel, former president of New Island Capital.

More than half of the fund came from clients of UBS Wealth Management Americas, which brought Rethink to its roster of high net worth individuals and family offices.

“There has never been a better time to enter the field of impact investing,” Abramson said.

Rethink has made eight investments and is looking to build a portfolio of 20 to 25 “gender diverse, tech-enabled companies working to solve the world’s biggest challenges based on the UN Sustainable Development Goals.” UBS has committed to invest $5 billion to meet the SDGs.

UBS’s John Amore called Rethink “a compelling solution given our clients’ investment and impact goals.”

This post is from ImpactAlpha’s daily newsletter. Get it first in The Brief.

Photo credit: WOCinTech Chat

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