Venture capital firm Amboy Street recently closed its first $20M fund dedicated to investing in sexual wellness and women’s health. The firm is led by an all-female leadership team; a majority of investments will be made into women-led companies.
The lack of investment in these spaces has stifled innovation. Amboy Street wants to be a catalyst for change and will back startups at seed and Series A stage, who address some of the most pressing health challenges faced by humanity today. Issues, such as menopause support, male contraceptives, abortion access, and LGBTQIA+ health, are being solved by cutting-edge, socially-conscious, and fast growing startups that Amboy Street aims to support.
The firm was founded by investor and former engineer Carli Sapir and is supported by General Partners Dominique Karetsos and Dr. Maria Godoy, leaders in the women’s and sexual health industry, and known for their work with the Healthy Pleasure Group. Amboy Street is led by an all-female leadership team; the majority of investments will be made into women-led companies.
Amboy Street Founding Partner Carli Sapir explains: “The women’s health and sexual wellness space is a trillion-dollar market opportunity. Yet the lack of historical investment in these industries (less than 0.5%) has stunted the innovation needed to address women’s health and sexual health issues. Our goal is to back innovative startups that are filling major market gaps and improving the health and wellbeing of people around the world.”
Amboy Street has already invested in eight startups and realized its first exit as Gennev, a telehealth and product line for menopausal women, was acquired by Unified Women’s Healthcare. Other startups in the portfolio include Evvy (vaginal microbiome testing & care), Hey Jane (telehealth abortion access), Contraline (male contraception), Dame Products (sexual wellness products), HerMD (hybrid care menopause & sexual health services), Aunt Flow (B2B period care), and Dipsea (audio erotica).
Alexandra Fine, CEO of Amboy Street Ventures portfolio company Dame Products shares: “Amboy Street’s hands-on approach helped us gain access to the resources, tools and partners we needed. They believed in our vision with conviction, and we are proud to be included in this new fund.”
Amboy Street is backed by predominantly female Limited Partners who are driving the world’s leading financial institutions: 10+ Partners and Directors from Goldman Sachs, JP Morgan, and Bank of America; Founders of prominent funds including Summit Partners and First Round Capital; Senior Executives at top Hedge Funds and Private Equity funds including Fortress Investment Group and Citadel; Successful Founders; and Planned Parenthood Executives.
“The decision to invest in Amboy Street was an easy one for me,” shares Colleen Foster, Former Goldman Sachs Partner, and Treasurer of Planned Parenthood Federation of America. “The economics of investing in women and their healthcare from puberty to post-menopause produce outsized returns. Our founders are solving problems that a century of underinvestment has ignored. Not only do I feel a moral imperative to drive capital to underserved communities and businesses, I also strongly believe that gender equity won’t be achieved in my lifetime without it. I knew from my first meeting with Carli Sapir that she was the investor I wanted to back. I was impressed with her market analysis, underwriting criteria, founder selection, and the personal brand she had built in a short period of time.”