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Exclusive: Portfolia deploys $65M into women's health

Illustration of a middle aged women working on a laptop and sitting on a giant health plus.

Illustration: Aïda Amer/Axios

Women-focused investment firm Portfolia deployed its $65 million women's health fund into 47 companies, CEO Trish Costello tells Axios exclusively.

Why it matters: The fund's announcement is timed and themed for National Women's Health Week, the yearly U.S. Department of Health and Human Services' tradition of spotlighting various women's health topics.

Zoom in: Portfolia's investors back companies across women's health, from pre-seed to later stage, in categories such as abortion care and menopause.

  • The latest funds were deployed into startups and mature companies across women's health and aging, including family care unicorn Maven Clinic, home testing company Everly Health, fertility loan company Future Family, and abortion care startup Hey Jane.

What they're saying: "We can't control the Supreme Court, but we can control where we put our money," says Costello.

Flashback: Costello co-founded the Kauffman Fellows Program in 1994 and led it for 13 years before deciding to address the underrepresentation of women and people of color in venture. She opened Portfolia's first fund in 2018.

How it works: San Francisco-based Portfolia "always has a fund open," says Costello. As soon as a given fund hits the 250 investor limit, Costello closes it and opens a new one.

The takeaway: "We've proven you can build billion-dollar businesses in this space," says Costello. "The money speaks for itself."

Editor's note: This story has been corrected to say Portfolia deployed $65 million from its women's health fund into investments (not that it deployed capital into its fund).

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