Kalaari-backed CXXO announce $10 million fund for women founders
To select a cohort of 8-10 founders/CEOs each year.
CXXO is a Kalaari Capital initiative to help women founders access capital, coaching, and community. The venture capital fund has set aside $10 million annually to invest in start-ups with women founders, ideally CEOs.
CXXO will select a cohort of 8-10 founders/CEOs each year. The average ticket size for investments in these companies would range between $500K to $5 million (Seed to Series A rounds).
Along with the funding, CXXO will also activate connections for founders and expand their access to experts. Each entrepreneur will be matched with a ‘Champion’ or an advisor. This role will be filled by successful entrepreneurs and senior business leaders who will advise the founder for up to two years. These leaders include names like Shereen Bhan, Lavanya Nalli, Priya Rajan, Mona Gandhi, Neeti Mehta Shukla, Rajashree R, Lakshmi Venu, Sindhu Gangadharan, Deepa Sapatnekar, Gazal Kalra, Ghazal Alagh, and Goda Ramkumar.
“The CXXO program will ensure there is no bias and discrimination in access to capital. We believe these founders will pioneer workplaces that are equitable and inclusive for more women to rise. At Kalaari, we have always believed in providing opportunities for diverse entrepreneurs to succeed. This initiative, ably supported by other such female leaders, is personally important to me,” said Vani Kola, Managing Director, Kalaari Capital.
Further, CXXO has set up a team of female leaders to guide and spearhead this movement in the start-up ecosystem. This include names like Ankiti Bose, Co-founder & CEO, Zilingo; Lathika Pai, Country Head, Microsoft, Venture Capital and PE Partnerships; Paroma Roy Chowdhury, Chief Communications & Public Affairs Officer, Dream Sports; Priyanka Gill, Founder & CEO, POPxo - Plixxo, Co-founder & President, MyGlamm; Shradha Sharma, Founder & CEO, YourStory Media; and Vani Kola, Managing Director, Kalaari Capital.
“CXXO can create access to coaching and capital for female founders, encouraging them to take more risks, and grow faster. If women know they have fair access to capital, they can stay focused on growth and innovation to stay ahead,” said Ankiti Bose, Co-founder & CEO, Zilingo.