Plum Alley Investments has a mission to invest in companies led by female founders and gender diverse teams.
To Andrea Turner Moffitt, a former banker, advisor, and author of Harness the Power of the Purse: Winning Women Investors, women sorely lack private market opportunities to invest with “meaning and purpose.”
To Deborah Jackson, a veteran health-care and medical-technology banker, all investors lack ample avenues to support entrepreneurial women-led and gender-diverse businesses.
Moffitt and Jackson have attacked these market inefficiencies in different ways: Moffitt, through her groundbreaking research with the Center for Talent Innovation in New York, which identifies how the wealth management industry has failed female customers; and Jackson, through a start-up accelerator she co-founded in New York to support women in mobile technology.
Each became aware of the other’s work and, when they met, realized they had complementary perspectives that should be joined.
They formed Plum Alley Investments in New York in early 2015 and, more than two years ago, began investing in technology companies—primarily in medical and health-care tech—with at least one woman in the founding team or corporate suite. Plum Alley isn’t a traditional fund. It’s a membership company of accredited investors—women as well as men, couples, and families. The firm is beginning to work with corporate members, too, including IBM.
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