Capital F, a venture firm led entirely by women, has successfully closed its first fund at $17 million. The firm aims to invest in businesses powered by the “female economy”—markets heavily influenced by women’s needs and spending habits. Its investment focus spans three areas: women’s health, digital commerce, and AI-driven tools addressing trust and safety issues disproportionately affecting women.
Leadership Rooted in Experience
The fund was founded by Margaret Coblentz and Dawn Dobras, who bring a combined track record of over three decades in executive roles. Dobras previously led Credo Beauty, worked at Gap, and later at Charlotte Russe. Coblentz also served at Charlotte Russe and later founded a luxury knitwear label. Their partnership grew out of years observing a lack of female representation in tech and corporate leadership. Their shared conviction: who owns capital is just as critical as what capital backs.
Building a Female-Led Investment Ecosystem
During the fundraising journey, Capital F hosted salon-style events to bring women into venture capital and investing—events that helped convert attendees into nearly 80% of the fund’s limited partners. Among them are high-profile figures like Jenny Ming (former head of Old Navy and CEO of Rothys), Marta Benson of Pottery Barn, and Linnea Roberts through her firm Gingerbread Capital. These salons helped forge connections, recruit LPs, and ultimately validate the firm’s mission.
Capital F holds that for any startup to earn investment, founders must engage with at least two LPs in their network—a process that often leads to deeper involvement through advisory roles, board participation, or additional capital and sales introductions. Despite being new fund managers, Coblentz and Dobras leaned on the support of their emerging community to close the fund.
Early Investments & Impact
So far, Capital F has invested in 13 early-stage companies with checks ranging from $250,000 to $1 million. Its portfolio includes clinical telemedicine platform Hey Jane, menstrual and cycle tracking app Stardust, and Big Sur AI, which was acquired by Google before the fund even closed. Another example is Malama, a company delivering doula services to people on Medicaid—addressing critical gaps in women’s health services.
The firm plans to deploy all of its capital by the end of 2027, positioning itself to capitalize on the rising demand for services and tools designed around women’s specific needs.
By targeting women’s health, digital commerce, and ethical AI tools, Capital F seeks to reshape which innovation gets funded—and who gets to fund it. With strong early wins and a network of women LPs and founders, it’s asserting a new model in venture capital.
Why this matters: The female economy has long been acknowledged as underinvested despite its economic power. Capital F is putting real capital—and not just lip service—behind building inclusive solutions. Keep an eye on its portfolio companies and LP network over the next year: they may set precedent for what true leadership looks like in venture.
