Dr. Sofia Bonilla, Founder & CEO, ALT-PRO Advantage and her dog Snoof.
KELOWNA – Okanagan Woman Angel Funds (OKGN WMAN) has closed its third fund with 35 women investors and completed that Fund’s first investment in Alt Pro Advantage, a Canadian, women-led business offering science-backed, nutrient-rich pet food that’s good for the planet, without the need for livestock or fish ingredients.
“We’re thrilled to have the support of OKGN WMAN Angel Fund 3 as we work to accelerate the shift away from animal- and petroleum-based nutrients toward natural, nutrient-rich, and sustainable alternatives. We believe Canada has a unique opportunity to lead this global transition, and we’re proud to be contributing to that solution with Canadian investors in our corner. This investment enables us to scale the commercialization of our pet food line across Canada and North America, while continuing to advance the development of our novel ingredient,” said Dr. Sofia Bonilla, Founder & CEO, ALT-PRO Advantage.
The first OKGN WMAN Fund, which originally kicked off on International Women’s Day 2021, is now fully invested and closed, after making multiple investments in RainStick Shower and Crush Dynamics. Fund 2 has invested in Rainstick Shower, Apricotton and Vessl Prosthetics and continues to seek a last investment prior to closing.
“Between three funds we’ve mobilized over 50 accredited women investors from across Western Canada to invest in women founded and led social impact deals. The group includes both women who have had successful exits as well as women in mid-career – entrepreneurs, lawyers, architects, programmers, marketers, project managers, doctors, financial advisors and academics. That range of expertise at the table is really valuable when we’re considering deals for investment,” says General Partner, Camille Saltman, one of the founders of the organization.
Sherri Faloon, another co-founder and General Partner says OKGN WMAN is focused on helping close the large funding gap faced by women founders and giving women hands-on opportunities to sharpen their investment skills, “Globally women-led teams have been proven to achieve significantly better financial performance on less resources, yet women receive less than 2% of start-up capital.”
A Kauffman Fellows study shows privately-held tech companies led by women are more capital-efficient, achieve 35 percent higher return on investment, and, when venture-backed, bring in 12 percent higher revenue than male-owned tech companies. Yes, according to a 2024 Pitchbook study, female-only teams raise only 2% of VC funds. The number is low – just under 20% when female founders have a male co-founder.
In a 2019 McKinsey analysis investigating the business case for diversity, encompassing 15 countries and more than 1,000 large companies, companies in the top quartile for gender diversity on executive teams were 25 percent more likely to have above-average profitability than companies in the fourth quartile. A substantial differential likelihood of outperformance—48 percent—separates the most from the least gender-diverse companies.
OKGN WMAN Angel Funds are comprised of more than 50 women leaders from across the Okanagan and beyond. Our goal is to level the playing field faced by women owned businesses and diverse management teams seeking investment, with a particular focus on social impact ventures in Western Canada and fem tech across Canada. In the OKGN WMAN model, partners meet regularly to discuss opportunities, vet deal flow and make investment decisions. Each participant invests $5,500 for a pool of more than $150,000, which is then used to co-invest in companies the group thinks will generate the best return. Applications for funding can be submitted at: www.okgnwman.ca
ALT-PRO is a Canadian B Corp accelerating the transition from animal and petroleum-based ingredients to natural, nutrient-rich, and sustainable alternatives. The company achieves this through innovative pet food products and proprietary novel ingredients designed to benefit pets, people, and the planet. More information can be found at: https://altproadvantage.ca
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