What Sofia Fund does

Sofia Fund is a Minneapolis-based angel investment firm founded in 1998 that invests exclusively in women-led growth companies with scalable, technology-driven business models. The firm deploys $100,000-$500,000 per investment within $500,000-$2 million equity rounds, preferring preferred stock in C corporations and targeting exits within 3-5 years. As of November 2020, Sofia Fund and its managing partners had invested more than $13 million across 70 companies spanning information technology, enterprise solutions, health and wellness, and sustainability. Notable portfolio companies include Cognition Therapeutics (Alzheimer's therapeutics), Oculogica (FDA-cleared concussion diagnostics), Joylux (intimate wellness), Strategikon Pharma (clinical trial budgeting), TiLT (employee leave management), Landit (workplace engagement platform), and Kidizen (children's apparel marketplace).

The fund is led by five managing partners: Cathy Connett (CEO, ex-P&G/Boise Cascade/3M, Harvard MBA), Lisa Crump (Stratasys co-founder, NASDAQ: SSYS), Joy Lindsay (StarTec Investments co-founder, ex-West Publishing SVP), Dee Thibodeau (Charter Solutions CEO), and Laura McCoolidge (Kauffman Fellow, joined June 2019 to open the Kansas City office). Sofia Fund generates revenue primarily through management fees on committed capital (notably Sofia Angel Fund II, which closed oversubscribed at $5.5 million in July 2015) and carried interest from portfolio exits. The firm sources deals through its network of managing partners' institutional affiliations — Angel Capital Association, MN Cup, Minnesota High Tech Association, Holmes Center for Entrepreneurship, and Harvard Business School Alumni Association — and co-invests alongside groups including Origin Ventures, Gopher Angels, Irish Angels, Corigrin Ventures, and Royal Street Ventures. Sofia operates from Minneapolis (headquarters) and Kansas City (opened June 2019), restricting investments to US-registered companies.

Name

Sofia Fund

Legal name

Sofia Fund

Website

https://sofiafund.com

Company type

Private

Founded year

1998

Operating status

Operating

Headcount range

1–10 employees

Short description

Sofia Fund is a Minneapolis-based angel investment firm founded in 1998 that invests $100K-$500K per deal in women-led, technology-driven growth companies, having deployed over $13 million across 70 portfolio companies with five managing partners.

Ownership category

akta.pro rank

Product category

Angel Investment Services

NAICS

Other Investment Pools and Funds (5259), Portfolio Management and Investment Advice (52394)

SIC

Investment Advice (6282)

akta.pro primary industry

Micro-VC & Angel Funds (FSANAAAI)

akta.pro secondary industry

Gender Lens / Diversity, Equity & Inclusion (DEI) Funds (FSANAJAM)

Keywords

• Angel investment services
• Women-led venture capital
• Early-stage equity investment
• Growth company financing
• Portfolio management

Headquarters

HQ city

Minneapolis

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Investment Returns: Sofia Fund generates returns through equity investments in women-led companies. Returns are realized through successful exits of portfolio companies via acquisitions or IPOs. The fund invests $100,000-$500,000 in individual deals within $500,000-$2 million equity rounds.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

Sofia Fund is an angel investment firm that provides equity capital to women-led growth companies. Founded in 1998 and headquartered in Minneapolis, the fund invests $100,000–$500,000 per deal within $500,000–$2 million equity rounds, focusing on scalable B2B business models in Information Technology, Enterprise Solutions, Technology, and Health and Wellness sectors. The firm offers active portfolio management and leverages the networks and expertise of its managing partners to help portfolio companies achieve exits within 3–5 years.

Product overview

Sofia Fund is an angel investment firm that provides investment services to exceptional women-led growth companies. Founded in 1998, the firm has invested more than $10 million in over 50 companies. Their investment approach focuses on gender-diverse teams with disruptive, scalable business models that use technology to solve real problems, particularly in Information Technology, Enterprise Solutions, Technology, and Health and Wellness sectors. Typical investments range from $100,000-$500,000 in $500,000-$2 million equity rounds of preferred stock in C corporations.

Differentiator

Problem solved

Functional benefit

Products and services

• Angel Investment Services Sofia Fund provides angel investment services to women-led growth companies, deploying $100,000–$500,000 per deal in $500,000–$2 million equity rounds of preferred stock in US-registered C corporations. The fund actively manages portfolio companies and provides access to networks and resources to support growth and exits.

Quantifiable outcome

• The average woman-owned business makes 20% more revenue with 50% less investment than other companies

Named customers8 records

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Ten partnerships are on record, tiered core and minor.

• Angel Capital AssociationcoreOthersSofia Fund is an active member of the Angel Capital Association, participating in events, education committees, and recognition programs. Managing partners serve on ACA committees.
• MN CupcoreOthersSofia Fund managing partners serve as judges for the Minnesota Cup business plan competition, one of the largest statewide business plan competitions in the nation.
• Minnesota High Tech AssociationminorOthersJoy Lindsay is a member and past chair of the Minnesota High Tech Association board of directors.
• Holmes Center for Entrepreneurship (University of Minnesota)minorOthersJoy Lindsay serves on the Advisory Board at the Holmes Center for Entrepreneurship. Sofia Fund supports the WE* Initiative at the Holmes Center.
• Harvard Business School Alumni AssociationminorOthersCathy Connett chaired the Harvard Business School Alumni Association board, which serves the 65,000-member international alumni community.
• Twin Cities Start-up WeekminorOthersSofia Fund managing partners are active participants in Twin Cities Start-up Week and Pitch Fest events.
• Minnesota Venture ConferenceminorOthersLisa Crump is active with Minnesota Venture Conference, supporting entrepreneurs and startup ecosystem.
• Charter SolutionsminorStrategic or Co-development PartnerDee Thibodeau is founder and CEO of Charter Solutions, a Women Business Entity certified consulting firm. Charter Solutions is alliance partners with Tableau and AWS.
• Pipeline EntrepreneursminorOthersLaura McCoolidge serves as a mentor for Pipeline Entrepreneurs.
• CorConnectionsminorStrategic or Co-development PartnerCathy Connett is president and founder of CorConnections, which specializes in guiding businesses through new business initiatives, equity infusions, ownership transitions, and building alliances and partnerships.

Scale indicators6 records

Recent moves7 records

Expansion highlights4 records

Direct peers

• Golden Seeds: One of the largest and longest-running angel networks dedicated to women-led companies, investing across the US with a structure very similar to Sofia Fund's gender-diversity thesis and check-size profile.
• Pipeline Angels: A national angel network focused on investing in women and non-binary founders, operating on a similar syndicate-based, early-stage check-size model and competing for the same women-led deal flow.
• Astia: Global organization that invests in and supports high-growth women-led companies, with a similar thesis of pairing capital with networks and operational support for women entrepreneurs.
• Springboard Enterprises: Venture-catalyst platform that has been scaling and funding women-led technology companies for decades, with comparable mission alignment to Sofia's women-led growth-stage focus.
• Portfolia: Investing community and fund family explicitly focused on women-led companies, with fund-of-funds and sector-specific vehicles that overlap with Sofia's women-focused angel strategy.
• Gopher Angels: Minnesota-based angel network that has co-invested with Sofia Fund (e.g., Kidizen) and serves the same Midwest early-stage women-led company universe.

Broad incumbents

• Female Founders Fund: An early-stage venture fund investing in women-founded companies; while VC rather than pure angel, it competes for the same high-quality women-led deal flow at the seed/Series A stage.

Emerging players

• BBG Ventures: Seed-stage fund historically focused on women and diverse founders; represents a more institutional, single-fund alternative to Sofia's angel syndicate model.

Others

• Angel Capital Association: Industry trade association of which Sofia is an active member; not a competitor but the central peer network where Sofia's partners serve on committees and access deal flow.

Regional players

• NewYork Angels: One of the largest and most active angel groups in the US, operating in a different geography (Northeast) but with a comparable generalist early-stage tech/health focus and check-size profile.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/sofiafund
• LinkedInlinkedin.com/company/27148779/admin

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments21 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Sofia Fund