Elaine Kundo was the CEO of two tech companies. But it wasn’t until she’d exited those companies, and was considering becoming an angel investor, that she understood how hard it was for women entrepreneurs to raise money. She’d see smart pitch decks from women, but the companies never seemed to get funded. Instead, similar companies, founded by less-promising men, would rake in dough. “It was weird,” she says. “The women were way more competent, capable, and further along in their businesses.” By 2018, Kundo knew the time was right to do something about it. She launched Toronto-based Disruption Ventures, a fund that will invest $500,000 to $1 million in about a dozen women entrepreneurs.

Kundo is targeting $30 million for her fund, and has so far closed on $13 million. “Some of the larger L.P.’s are starting to say we can’t walk into a room and have only dudes at the table,” says Kundo, referring to the limited partners who provide the money that venture capitalists invest. “Adding token women won’t solve that.”