The launch of Capital X aims to connect female founders with investors

Capital

Capital X is positioned as an open source for connecting women-led startups with investors, mentors and advisory networks. While focused on supporting women, the platform is open to founders and investors of all genders.

The initiative is focused on the group, and Tractor Venture co-founder and CEO Jodie Imam is calling on Jessica Baird Walsh (expedition partner, KPMG Ventures) and her supporters to bring it to life.

Capital X aims to address the gender funding gap, which remains a persistent challenge in the startup ecosystem.

The latest data from the Cut Through Ventures Q2 2024 report showed that while startups led by women or mixed teams accounted for 20% of deals, the majority were at the pre-seed and seed stages.

In comparison, female founders continued to struggle to secure larger later-stage capital rounds such as Series B, with only three female-led startups raising rounds of more than $20 million in 2024.

Women-owned businesses also suffered another blow earlier this year with the closure of the government’s Boosting Female Founders program.

The site provides a public list of female founders in Australia and New Zealand and a list of female investors in the scene. This also includes men who want to get involved, such as M8 Ventures general partner Alan Jones and Gavin Keeley of Tractor Ventures.

The platform invites men to participate as “supporters, allies and advocates” to help fund women-led businesses and bring diversity to cap tables, advisory networks and boards.

“Capital X is not only for women. Progress in closing the gender funding gap and the many other obstacles facing women in the tech and startup ecosystem is not for women alone to solve,” Imam said on LinkedIn.

It is worth noting that anyone can join the list, which means that users will have to be responsible for assessing credibility.

“Capital X is a social initiative. We do not confirm the skills or verify the qualifications of anyone on this list,” we read on the website.

Capital X launches at a time when other initiatives, such as Equity Clear, are also calling for greater transparency and accountability in venture capital financing.

Equity Clear, which launched in mid-2023, encourages venture capital groups to disclose funding data for women-led startups. With 22 groups already involved at the end of last year, the initiative aims to introduce more consistent reporting practices across the industry.

Capital X is intended to be a starting point for further collaboration, and Imam calls for continued participation from the Australian startup scene. The potential long-term success of the initiative will depend on the active engagement of both investors and founders, as well as the continued expansion of resources to support women in securing capital and leadership roles.

“This list is part of the ecosystem and is just a starting point,” Imam said.

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