Columbus-based Accelerating Angels has announced the close of its inaugural Fund I at $2 million, marking a significant step toward bridging the gender funding gap in Ohio’s startup ecosystem. The fund, backed by 46 investors, is dedicated to supporting high-growth, women-led companies that remain one of venture capital’s most underfunded yet best-performing segments.
Founded in 2022 by Mary McCarthy and Cindi Englefield, Accelerating Angels combines venture capital with a nonprofit foundation that trains new investors and prepares women founders to raise capital. This dual approach builds both supply and demand, creating the infrastructure needed to move capital toward overlooked entrepreneurs.
The fund has already invested in eight companies and plans to expand its portfolio to 12–15 startups. A larger Fund II is also in development, aimed at scaling investments with bigger checks. Membership is open to both accredited and non-accredited investors, broadening Ohio’s angel base and encouraging first-time backers to participate.
McCarthy and Englefield emphasize that investing in women-led companies is not only a smart financial strategy but also a powerful driver of innovation. With Fund I underway and Fund II on the horizon, Accelerating Angels is positioning Ohio as a hub where women founders can access the capital they need to grow and thrive locally.
