The big Wall Street bank said “Launch with GS” will invest its own money along with clients’ capital in private, late-stage business that are founded, owned or led by women. In addition to direct investments, Goldman will back women investment managers starting their own funds. “Our goal with Launch With GS is to generate strong investment returns,” wrote Stephanie Cohen, Goldman’s chief strategy officer. “We also hope it makes a difference for women who have big ideas but find themselves cut out of the funding ecosystem.”
The “Launch with GS” initiative will see the bank invest both its own money and clients’ capital in private, late-stage companies which are female- founded, owned and or run. Goldman will also support female investment managers establishing their own funds. In 2014, Goldman helped create the Women Entrepreneurs Opportunity Facility designed to encourage banks to lend to small- and medium-sized enterprises led by women. The bank has also backed the female entrepreneurship 10,000 Women programme.