Payment services firm Mastercard has led the fundraising for Astia, a US-based investment and advisory firm that launched its $100m early-stage venture capital fund on Monday.
Mastercard was joined by limited partners including Farvatn Venture, Portola Creek Capital, Tides Foundation and individual investors such as Priya Mathur, Jim O’Neill and unnamed members of impact investment network Toniic.
Founded in 2013, Astia backs companies with women leaders and has so far deployed $27m through its Astia Fund, Astia Angels network and Astia Edge, a fund that makes investments in seed-stage companies led by black and Latinx women.
Astia’s portfolio so far includes interior design service Modsy and Ellevest, the operator of a financial advice service targeting women.
Mastercard vice-chair Ann Cairns said: “I am proud that Mastercard is the lead investor in Astia’s first venture fund. Too much of our world was designed without women in mind – and without women involved. Even today, inequality and exclusion still hold women back.
“That is why Mastercard is forging ambitious partnerships and championing the people, businesses and innovations that are transforming the way our world works. We know that when women and underrepresented groups are at the leadership table these teams outperform for customers, investors and companies.”
