Redefine
The Future.
Invest In Women.

We invest in early-stage, women-led tech startups across the US.
What We Invest In

Backing Women. Building The Future.

Rogue Women’s Fund is an early-stage venture capital firm investing in women-led B2B SaaS, Enterprise, and B2B2C software companies. We write average check size of $500K, can lead or join a round, and love to roll up our sleeves to help founders build venture scalable, impactful businesses. Our investments span women’s health, the care economy, experience tech, and foundational industries. We invest in early seed stage companies incorporated in the US.

A fundamental value we hold is to get more money in the hands of women. Money is Power. Not only do we invest, but we share the profits of our fund with every founder we invest in.
That's right - when we invest in you, you are an investor in all of our Rogue Women founders!
What We Invest In
We Invest in the WHOLE Person - yes - we're hands on to help you with the business but we also offer the following benefits:
Paid for executive coaching
Personal financial coaching
Childcare - our unique partnership with KinderCare subsidizes founder childcare and any last minute drop-in care is on us!
We share the upside of our fund. Every founder gets a part of our GP carry
Why Rogue Women?

"Fish Where the Fish Are"

C. Munger

42% of all US businesses are founded by women. Yet only 2.8% of all venture funding going to women-led startups.
Venture backed women-founded companies in the US generated over $19.9B in exit value in the past 5 years.
For every $1M invested, women-led companies are 30.6x more likely to reach a $1B+ valuation than male-led companies.

Natural biases in market create a wide-open playing field for Rogue Women's Fund to capitalize on this opportunity.
We also offer one of a kind benefits to our founders leading us to win any deal.
Our fund size and portfolio support big hits and early returns on capital.

Our Success Is Proven.

Make Money. Do Good.

"Nothing Ever Bad Happens When Women Have Money" - S. Krawcheck

How We Invest:

We Lead. We Scale. We Win Together.

In a venture market flooded with capital chasing the same opportunities, Rogue Women’s Fund stands apart. We invest early, are hands-on, lead, and invest across the US outside the major hubs.

Women in Tech Lead the Way

Women founders are driving success in tech

Women-led B2B SaaS, Enterprise, and B2B2C technology companies

Seed-stage companies with first or second iterations of technology, early revenue, and valuations under $10M

Sectors: women’s health, care economy, experience tech, foundational industries

Portfolio

Building Companies That Change the Game

Founder: Claire Schmidt

Employee Relations Platform that makes it easy to manage employee relations issues

Founders: Stephanie Grein and Kristi Olsen

The job matching platform for physicians & advanced practice clinicians

Founders: Aihui Ong, Chok Ooi, Michael Han

AI tools for creating web and mobile applications for your business in minutes.

Founder: Candice AD. Smith

Provides effect and empathetic resources to support the well-being of everyone involved in a caregiving journey.

Founders: Juan Carlos Riveiro, Irene Cuevas, Liya Sharif, Andreas Melder

AI technology company with the mission to advance healthcare for all women.

Founder: Mia Umanos

AI marketing analyst that finds actionable insight in minutes.

Founder: Bec Jones

Non-custodial wallets to immerse rich data and experience seamless connectivity into Web 3.

Founders: Teasha Cable, Jazmine Cable-Whitehurst, Russ Muzzolini Ph.D

AI Enabled Web-App that helps business leaders navigate complex business decisions.

Founder: Tara Fung, Alberto Simon, Joshua Rosenblatt

Connecting clients with the world's best tattoo artists.

Founder: Emma Bates

Developer of a social search engine intended to dedicate a place for people to search, collect, discover, and share information.

Founder: Kristen Buchanan

Automating learning and knowledge sharing for modern software teams.

Founder: Melissa Bowley

A tech-enabled maternal health platform for evidence-based community care improving equity and outcomes.

Founder: Claire Tomkins

A complete solution to fertility treatment today, offering new levels of care support with a stress-free way to pay.

Founder: Alan Chan

Platform that helps you confidently navigate the ups and downs of parenthood.

Founder: Noel Pugh

A digital maternal health platform bringing together best in class services to care for mother and baby from conception to postpartum.

Founder: Kathryn Harrison

The world's first AI powered inventory and sales management system for collectible sellers.

Founder: Jill Bourque

An advanced AI-powered streaming platform that lets people connect in real-time.

Founder: Isla Perfito

An opensource P2P platform for scripted series television viewership.

Founder: Emilia Gonzalez

A software that helps businesses build applications.

Founder: Tina Keshani

A leading virtual provider of women's behavioral health services supporting every stage of motherhood.

Founder: Kelly Oriard

E-commerce children’s brand on a mission to promote emotional wellness and provide tools to caregivers and educators

Founder: Nicole Schmidt

The worlds largest commercial construction materials and procurement platform.

Founder: Rebecca Kersch

International peer-to-peer mobile transaction and payments app.

Founder: Fonta Gilliam

Embedded social finance software designed to help institutions increase the lifetime value of customers by turning every customer into a community of customers.

Founder: Jessica Murrey

Uses behavioral technology to create interactive media that is wickedly fun and actively good.

Founder: Cynthia Plotch

Health hub that offers the education, intel, and problem-solving products you need to make confident health decisions.

Dashboard mockup
Empowering Future Women Leaders in Tech

Venture Fellows Program

Our Venture Fellows Program allows for mid to late-career individuals to access and learn about the venture capital industry. We had so much interest that we also created a Student Fellows group.
Hands-on learning and mentorship
Networking opportunities within the venture capital ecosystem
Informational sessions to learn more about "how" a venture capital firm works
Small Team. Big Impact.

Meet our team

At Rogue Women’s Fund, you’re not just getting capital—you’re getting a team that’s all in, every step of the way.
Caroline Lewis
Managing Partner
Caroline is the MP and founder of Rogue Women. She is also a Partner at Rogue Ventures and Kauffman Fellow. Before entering venture capital, she was Senior Director of Global Strategy and Operations at Nike where she managed a portfolio of strategic programs focused on consumer experience, digitization, and big data. Her love for start-ups comes from her early career experience as a founder of an e-commerce business and as a leader at a consumer health product company. Caroline holds an MBA from Portland State University and a B.S. in Behavioral Psychology from Davdison College where she played D1 Field Hockey.
Thomas Sperry
Partner
Mr. Thomas Sperry is a founder and partner at Rogue Women. He is also the Co-Founder and Managing Partner at Rogue Venture Partners.  He serves as an Advisor at Outlierz Ventures, GapMinder Venture Partners and has served as a Chief Investment Advisor at Amplio Ventures. He is also served as CEO of Exit Games Inc. Exit Games is a venture capital-backed technology company with a focus on the video game industry. Before Exit Games, he was the CEO of Blade3D headquartered in Shanghai, China. Before his role at Blade3D, held senior management positions with HNC Software (Executive Director) and Looking Glass Studios (Director). He began his career at Microsoft Corporation, where he was an international program manager in the games division. Tom holds an MBA from University of Western Ontario and OPM from Harvard University
Adam Stoll
Partner
Adam is a founding partner and CFO with Rogue Women. He is also a general partner with Rogue Venture Partners and advisor to Outlierz Ventures. Prior to Rogue, Adam was CFO and lead IT Architect of Smart Choice MRI, a growth focused privately held healthcare services company based in Milwaukee, WI. In that position, Adam oversaw all financial operations and focused on overarching financial strategy and planning. Prior to his role at SmartChoice, Adam was a Global Program Manager for Exit Games, a German based, venture capital backed technology company. Adam holds an MBA from
Waela Fellnert
Operations
In addition to her work with Rogue Women's Fund, Waela is also working with various startup founders and VCs. She manages VITALIZE Angels, a 300+ member angel syndicate. Before moving to Sweden, she conducted large-scale educational projects as a former Project Development Officer for the Department of Education in the Philippines. Passionate about empowering underrepresented founders, she advocates for diversity and innovation in venture capital and startup ecosystems.
Mary Miltimore
Venture Partner
Mary is passionate about supporting founders as they seek to build and scale transformative solutions. Previously, Mary managed a climatetech accelerator program for Onward, an enterprise company of Shell, and worked as a Senior Startup Portfolio Manager for AARP’s AgeTech Collaborative Accelerator, which focus on startups within the longevity market. Mary applies her background in design thinking, stakeholder engagement, strategic planning and consumer insights to her work within the startup and venture community.
Rogue Venture Fellows
30 Fellows Each Cohort
An on-going rotation of fellows from across the country.
Invest in Rogue Women’s Fund

Back the Future of Women-Led Innovation

Join us in driving growth for women-led tech companies that are reshaping industries. When you invest with Rogue Women’s Fund, you’re not only getting a high-performing portfolio but also making a positive impact on the venture landscape.

Access and Unique Strategy

Women-led companies yield 35% higher ROI. We source companies across the US that other firms don't have access to. Invest with us and experience strong returns with purpose.

Focused Strategy

We have a unique portfolio approach that allows us to bet on big swings and optimize for a higher probability of exits earlier than most funds.

Track Record of Success

The partners have returned ~3x net on at least two funds and an average of 20% thus far on funds yet to mature.

Aligned Values

Over 50% of our limited partners are women or women-led institutions. We share our GP carry with all of the founders we invest in.