£130M fund closes to back female-led investment team

Bootstrap4F has announced that its ‘Women backing Women’ fund of funds for the Invest in Women Taskforce has reached a formal first close of £130 million.

Closed on 31st March 2026, it brings together private and public institutional capital from four of the leading financial institutions in the UK: Barclays, the British Business Bank, M&G plc, and Nationwide. This is a significant level of commitment to a fund of funds dedicated to female-led and mixed investment teams and is designed to act as a catalyst to change how capital in the UK is allocated.

Investments selected for the fund of funds will be required to meet gender diversity and commercial returns criteria. This reflects the Taskforce’s core conviction that backing female and mixed-gender teams is not simply the right thing to do, but a smart investment decision.

Bootstrap4F, selected following a competitive process managed by the Taskforce from over 25 applicants, will now begin investing in fund managers that meet these criteria. The team brings decades of combined experience and a collective history of £4.4BN in fund selection.

Debbie Wosskow, Co-Chair of the Invest in Women Taskforce, comments: “Out of £18 billion equity investment in 2025, fully female-founded teams received just 1.75%. That’s the problem we set out to fix, with institutional capital and commercial rigour. We needed to change what ‘normal’ looks like, and it is a market correction that is long overdue. I’m incredibly proud of what we’ve built with our investment partners – it is an historic achievement, and we’re delighted that institutions have recognised the opportunity on the table. They have shown real leadership. We now need more investors to come aboard and join us on this journey.”

Hannah Bernard, Co-Chair of the Invest in Women Taskforce, said: “This is not an act of goodwill, it is a commercial and economic imperative. Women-led businesses deliver 35% higher returns and re-directing capital to female and mixed teams represents one of the most significant untapped opportunities for UK economic growth. The breadth of institutional backing in this first close demonstrates the investment ecosystem is beginning to act on what the evidence shows.”

Stephanie Heller, Managing Director at Bootstrap4F, added: “Securing £130 million in commitments, with Barclays, the British Business Bank, M&G plc and Nationwide, is an exceptional outcome in this market. We have built the infrastructure to deploy capital efficiently, and the funds that have expressed interest so far are both strong and high in quality. We are committed to making every investment count.”

Minister for Investment Lord Stockwood said: “The UK is a thriving business hub, and this £130m investment into the Women Backing Women fund is a major moment in showcasing the power of government and industry in coming together to make a positive difference in our investment environment.

“Through the Invest in Women Taskforce, we are creating further opportunities for female founders and encouraging more women to become investors to make a real difference in the sector and in our country.”

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The fund of funds contributes to the Taskforce’s total £635 million funding pool of commitments, over £70 million of which is already deployed directly by partners including the British Business Bank, BGF, Aviva and Morgan Stanley. Together, the fund of funds and these partner commitments represent a systems-level intervention; one designed to both support individual founders and funds and shift the norms of capital allocation at scale.

Bootstrap4F will now begin to commence the investment process. Funds that wish to also be considered can register interest here.

Christine Hockley, Managing Director and Head of Commercial Equity Funds, British Business Bank, said: “The formal first close of the Invest in Women Taskforce fund of funds marks a significant step forward in building a more inclusive investment ecosystem in the UK. The evidence is clear: greater gender diversity in investment teams leads to better outcomes for female founders. The British Business Bank is proud to support that mission both through our commitment to the Taskforce, and by deploying capital directly via our capital allocation units to fund emerging female managers. While we are still in the early stages of the market change we need to see, the direction of travel is clear – and it’s a win-win for both diversity and returns.”