The Artemis Fund, a venture capital firm that focuses on investing in underrepresented founders, has successfully closed its second fund with $36 million in capital commitments.
Founded in 2019 by Stephanie Campbell, Diana Murakhovskaya, and Leslie Goldman Tepper, Artemis draws inspiration from the Greek goddess of the hunt and women empowerment.
With offices in Houston and New York, Artemis specializes in leading seed rounds for diverse founders in fintech, commerce, and care industries, boasting a portfolio of over 20 companies led by female founders, with over 60% having Black, Latinx, or immigrant leadership.
The second fund has gained support from notable institutions such as Bank of America, Bank of Montreal, TIAA Nuveen’s Churchill Asset Management, Texas Capital Bank, Amazon, The Rockwell Fund, and Ballentine Partners.
Artemis’s strategy involves actively advocating for and supporting diverse founders, aiming to drive real revenue growth early on by providing access to national co-investors and instilling discipline in the companies they back.
The firm believes in the importance of diverse perspectives for good business and seeks to align financial returns with positive impacts on the communities these entrepreneurs come from.
Artemis is among the few funds that not only focus on diverse founders but also address tech solutions to barriers faced by underrepresented businesses, communities, and families in the U.S.
Portfolio companies from Artemis include Naborforce, HopSkipDrive, Upgrade, and Work & Mother, showing significant revenue growth over the years.
Looking ahead, Artemis aims to continue leading investments in various sectors and plans to target around 20 new companies with its second fund, deploying capital into innovative ventures like Payverse, Max Retail, and Hello Divorce.
