German VC Firm La Famiglia Raises $264 Million

Berlin-based, female-led venture capital firm La Famiglia has raised $264 million.

The company announced the funding Wednesday (March 8) on its LinkedIn page, saying it would be used to fund B2B tech firms in Europe and the United States.

“Our growth co-investment fund allows us to double down on the winners from our portfolio as well as co-invest alongside leading funds into growth companies where we can add value through our platform,” Jeannette zu Fürstenberg, founding partner of La Famiglia, said in an interview with Sifted. “It is a strategy that we have always pursued through dedicated [special purpose vehicles (SPVs)] and have now formalized in a fund structure.”

According to the announcement, La Famiglia has invested in more than 70 companies since 2017, including decacorn Deel, unicorns Personio and Forto, and technology platforms such as Y42, Sweep and Buynomics.

“We also love that we get to announce this milestone on International Women’s Day,” the company’s announcement said in conclusion, “so am calling out some fantastic women in the comments that inspire.”

As PYMNTS noted Wednesday in conjunction with International Women’s Day, gender parity is still widely uneven, as evidenced by the massive gap in access to venture capital funding.

“Estimates by the International Financial Corporation (IFC) show that a $300 billion gap in financing exists for women-owned small- to medium-sized businesses (SMBs), and remains a major constraint, particularly in developing countries,” PYMNTS wrote.

In sub-Saharan Africa, for example, there is a $42 billion funding gap for women entrepreneurs, according to the World Economic Forum, putting significant limits on their potential and reducing their engagement in Africa’s startup space.

It’s a challenge companies such Visa are trying to overcome by providing underfunded women-led startups in emerging markets with a much-needed boost.

Visa Foundation, the philanthropic arm of Visa, announced last week that it would commit $1 million of its $200 million Equitable Access Initiative to help fuel the growth of women-owned SMBs in sub-Saharan Africa.

“Women business owners continue to face challenges that are unique to them — ranging from patriarchy, cultural norms and unconscious bias that impacts women’s ability to access markets, finance, technology and networks,” Visa Foundation said at the time. “The global pandemic further exacerbated these challenges as women-led SMBs were hardest hit.”

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