‘Women backing Women’ fund of funds reaches first close
Bootstrap4F’s ‘Women backing Women’ fund of funds for Invest in Women Taskforce reaches £130M first close in landmark for UK investment
- First close is a significant combination of private and public institutional capital supporting female fund managers and female founders
- It contributes to the Taskforce’s £635M funding pool, of which over £70M is already deployed
- Bootstrap4F will now begin investing in fund managers that meet gender diversity criteria and have strong potential to deliver commercial returns
London, Thursday 2nd April – Bootstrap4F today announces that its pioneering ‘Women backing Women’ fund of funds for the Invest in Women Taskforce has reached a formal first close of £130M (> $173M), a landmark moment for the UK’s investment ecosystem.
Closed on 31st March 2026, it brings together private and public institutional capital from four of the leading financial institutions in the UK: Barclays, the British Business Bank, M&G plc and Nationwide. This is a significant level of commitment to a fund of funds dedicated to female-led and mixed investment teams and is designed to act as a catalyst to change how capital in the UK is allocated.
Investments selected for the fund of funds will be required to meet gender diversity and commercial returns criteria. This reflects the Taskforce’s core conviction that backing female and mixed-gender teams is not simply the right thing to do, but a smart investment decision.
Bootstrap4F, selected following a competitive process managed by the Taskforce from over 25 applicants, will now begin investing in fund managers that meet these criteria. The team brings decades of combined experience and a collective history of £4.4BN in fund selection.
Debbie Wosskow, Co-Chair of the Invest in Women Taskforce, comments: “Out of £18 billion equity investment in 2025, fully female-founded teams received just 1.75%1. That’s the problem we set out to fix, with institutional capital and commercial rigour. We needed to change what ‘normal’ looks like, and it is a market correction that is long overdue. I’m incredibly proud of what we’ve built with our investment partners – it is an historic achievement, and we’re delighted that institutions have recognised the opportunity on the table. They have shown real leadership. We now need more investors to come aboard and join us on this journey.”
Hannah Bernard, Co-Chair of the Invest in Women Taskforce, said: “This is not an act of goodwill, it is a commercial and economic imperative. Women-led businesses deliver 35% higher returns2 and re-directing capital to female and mixed teams represents one of the most significant untapped opportunities for UK economic growth. The breadth of institutional backing in this first close demonstrates the investment ecosystem is beginning to act on what the evidence shows.”
Stephanie Heller, Managing Director at Bootstrap4F, added: “Securing £130m in commitments, with Barclays, the British Business Bank, M&G plc and Nationwide, is an exceptional outcome in this market. We have built the infrastructure to deploy capital efficiently, and the funds that have expressed interest so far are both strong and high in quality. We are committed to making every investment count.”
Minister for Investment Lord Stockwood said: "The UK is a thriving business hub, and this £130m investment into the Women Backing Women fund is a major moment in showcasing the power of government and industry in coming together to make a positive difference in our investment environment.
"Through the Invest in Women Taskforce, we are creating further opportunities for female founders and encouraging more women to become investors to make a real difference in the sector and in our country."
The fund of funds contributes to the Taskforce’s total £635M funding pool of commitments, over £70M of which is already deployed directly by partners including the British Business Bank, BGF, Aviva and Morgan Stanley. Together, the fund of funds and these partner commitments represent a systems-level intervention; one designed to both support individual founders and funds and shift the norms of capital allocation at scale.
Bootstrap4F will now begin to commence the investment process. Funds that wish to also be considered can register interest here.
ENDS
Notes to Editors
About the Invest in Women Taskforce:
The Invest in Women Taskforce was established with the goal of making the UK the best place in the world to be a female entrepreneur. It will do this by:
- Delivering one of the world’s largest funding pools for female-powered businesses
- Increasing representation of female investors - with IWT funding pool deployed via female and mixed investment managers
- Supporting the broader ecosystem – working across Financial Services to enable more women to start and scale businesses
The Taskforce is backed by the His Majesty’s Treasury and the Department for Business and Trade.
The Invest in Women Taskforce £635M funding pool:
- Investments via partner schemes:
Aviva, the British Business Bank, BGF, Morgan Stanley, Visa Foundation. To be invested a) into female and mixed businesses, and b) into female fund managers, then into female and mixed businesses.Of this funding pool, £70.5m has already been deployed via 15 deals (one fund and 14 founders), with over 30 deals in the pipeline.
- The Women backing Women Fund of Funds:
Managed by fund manager Bootstrap4F who will focus on deploying capital into female founded and mixed investment teams in the UK. Investors: Barclays, the British Business Bank, M&G plc and Nationwide. £130m first close.
About Bootstrap4F
The Bootstrap team includes Stephanie Heller, Fatou Diagne, and Matthias Ummenhofer.
Media Contact
MHP Group – Taskforce@mhpgroup.com