– Family first. Halogen Ventures has closed a $30 million fund to invest in a new thesis: the future of family.
Founding partner Jesse Draper identified this area as ripe for investment in the immediate aftermath of the COVID pandemic. The U.S. childcare system was broken, and families were struggling. Draper wanted to tackle it—but as an investor who already backed female-founded businesses, she could anticipate the response she’d get. “People would say, ‘that’s not a big enough opportunity,’” she recalls.
Draper repositioned from defining her thesis as childcare to the future of family, which includes the physical health and financial health of families, among other applications. She ran a study of the “future of family” as a category, and determined it’s a market valued at $7.5 trillion, including childcare, ed tech, tech for families, digital workplace solutions, and child and youth services. “[Families] want more scheduling tools, they want more financial management tools, they want more time overall,” Draper says.
The firm has already invested in companies aligned with this thesis, including the baby registry platform Babylist, the childcare marketplace Upwards, and the transportation company HopSkipDrive.
This is Halogen’s third fund. The fund’s LPs include Gingerbread Capital, Lanyon Advisors, Fenwick’s Funds of Funds, and the state of Alabama through its program Innovate Alabama. Halogen is the first out-of-state partner for the program and has pledged to back Alabama-based female founders. After a very tough few years for emerging managers, Draper advises others to try nontraditional sources.
“It’s a numbers game—don’t get discouraged if eight people say no to you. You haven’t talked to enough,” she says. “We talked to hundreds almost every fundraise, and you really have to get out there. You have to travel. You can’t only raise from your city. You can’t be afraid to get on a plane and go to new places and meet new people.”
Emma Hinchliffe
emma.hinchliffe@fortune.com
The Most Powerful Women Daily newsletter is Fortune’s daily briefing for and about the women leading the business world. Today’s edition was curated by Nina Ajemian. Subscribe here.
ALSO IN THE HEADLINES
- Defunding decision. The Supreme Court ruled that South Carolina can deny Medicaid funds to its Planned Parenthood clinics in a 6-3 decision that may inspire other red states to follow suit. Medicaid is the largest insurance provider for pregnant people in the U.S., and without this funding, South Carolina clinics may be forced to turn away patients. The 19th
- In vogue. Anna Wintour is stepping down as head of editorial content at American Vogue after a 37-year run steering the fashion magazine. While the publication looks for its next leader, Wintour will continue serving as Condé Nast’s chief content officer and global editorial director of Vogue. WWD
- Pfizergate fallout. President of the European Commission Ursula von der Leyen is facing a no-confidence vote over "Pfizergate," or how she handled private messages with the pharmaceutical company’s CEO. Far-right lawmakers say they have enough support to make a motion for the vote, which von der Leyen is likely to survive. Financial Times
- Fresh fleet. Qantas Airways CEO Vanessa Hudson (No. 54 on the 2025 MPW list) has gained full support from market analysts to go through with a massive fleet overhaul, after waiting on one analyst to upgrade his rating. This will be the biggest overhaul in the airline’s history, with Hudson saying that the new, fuel-efficient jets will help raise earnings. Bloomberg
MOVERS AND SHAKERS
The MTR Corporation named Jeny Yeung Mei-chun CEO, making her the company’s first female CEO. She was previously the MTR’s managing director.
Colorado College named Manya Whitaker president. Prior to serving an interim president, she was EVP and chief of staff to the school’s former president L. Song Richardson.
Dataminr, an AI platform for real-time events and information, named Tiffany Buchanan CFO. Most recently, she was SVP of finance and capital markets at CrowdStrike.
Sundial Media & Technology Group appointed Brooke DeVard Ozaydinli as chief content officer of Refinery29. She is the host and creator of the podcast Naked Beauty and was previously creator marketing manager, video lead at Instagram.
Information management company OpenText appointed Kristen Ludgate to its board of directors. Most recently, she was chief people officer at HP.
ON MY RADAR
Waymo’s self-driving future is here Time
Former OpenAI exec Mira Murati’s startup will reportedly make custom AI models for your company Inc.
Sarah McLachlan on the end of Lilith Fair, her new comeback album, and that ASPCA commercial Rolling Stone
PARTING WORDS
“The most revolutionary thing we can do, now and always, is love one another.”
—Susan L. Taylor, the longest-serving editor-in-chief of Essence, talks with author Asha Bandele for the magazine’s 55th anniversary
