Portfolia, the global venture investment firm for women, has announced its pre-IPO investment in Athena Technology II SPAC, the all-women-led special interest acquisition company that closed its initial public offering last week. This collaboration of the financial industry’s most influential women investors and one of very few SPACs to be founded and funded by women marks two new milestones for Portfolia as it is the firm’s first SPAC offering to its members as it nears its 100th investment.
Founded by Trish Costello, Portfolia activates women as venture investors, backing entrepreneurial companies and innovation, for returns and impact. Portfolia is the largest network of women investors in the world, with members in 46 states and 18 countries. In our community Portfolia is known for its dedicated Femtech Funds and its investments in women’s health companies such as Maven Clinic, Madorra, Nest Collaborative, Renovo, Rosy, Willow, and most recently Proov.
Athena Technology II is the third all-women Athena SPAC founded by Isabelle Freidheim following Athena Technology Acquisition Corp., which was the first all-women SPAC to announce a business combination, and Athena Consumer Acquisition Corp., which closed on its initial public offering in October 2021.
Costello, Portfolia’s founder and CEO, said, “Women in the US will soon control $30 trillion of investable assets, yet so few of us have had access to special investing areas like SPACs traditionally reserved for high net worth white males. After watching the first two Athena SPACs we were thrilled to offer Portfolia members the opportunity to participate in their third.” She added: “Now with the right access and opportunity, women are eagerly taking control of their wealth and becoming investing leaders.”
The Athena Technology II SPAC investment is the firm’s first SPAC investment. The firm also has nearly 100 investments in startup companies across 13 funds. Women-led and 93% women-funded, Portfolia’s investing community challenges long-held stereotypes that women lack interest in investing. The firm has grown 500% in the past two years. In 2021, the firm has had three IPOs, early investments in two unicorns, and now a groundbreaking new investment in Athena’s women-led SPAC.
Athena President Kirthiga Reddy added, “I’m so proud to be working with the exceptional network of women and professionals that are part of the Athena family. Having been operators and investors ourselves, we understand the passion, dedication and expertise needed to drive meaningful growth and transformation, and that’s what we intend to bring to the market.”