“Our uniqueness as immigrant Latinas makes us stronger and anti-fragile.”
Babel Ventures, a Silicon Valley firm founded by two young immigrant Latina entrepreneurs, just announced $30 million raised to help start-ups. These funds aim to empower entrepreneurs, many who struggle to receive funding, with the needed capitol to continue contributing to our economy through their start-ups.
The firm was founded earlier this year by Bárbara Kunde Minuzzi and Daniela Arruda. Both women have experience in raising big dollar funds from high net worth individuals. In the past, Barbara in particular has singlehandedly raised over $250 million for real estate and high tech companies.
After several years financing real estate in Miami, last year Bárbara and Daniela moved to San Francisco where they launched their new firm and it’s new fund.
At a glance, that Babel Ventures is women-run makes it highly unique. Overall, men comprise 89% of venture capital partners, according to the National Venture Capital Association/Dow Jones VentureSource.
A 2016 study by Columbia University (pdf) found that, over the last decade, the proportion of women partners categorized as key decision makers in United States VC firms has declined from 10% to just 5%.