Benjamin’s Desk donated at least $10,000 to AWE Ventures, a fund for women-led ventures run by Ben Franklin Technology Partners and the Alliance of Women Entrepreneurs.
The coworking space joins PACT as a “founding contributor,” a donor of at least $10,000, to the fund. BFTP spokesman Jason Bannon did not disclose the exact amount of Benjamin’s Desk’s contribution.
“We believe Philadelphia must have a vested interest in the advancement of female entrepreneurship through the pursuit of educating and assembling female angel investors,” Benjamin’s Desk CEO Anthony Maher said in a statement.
BFTP started taking donations for the fund in June. Some questioned the donation model, saying that it created a donor culture instead of an investor base that could reap the rewards of an investment. BFTP president RoseAnn Rosenthal responded that it was important to “increase flow of capital by all means available.”
AWE Ventures aims to raise $250,000, which BFTP will match. Bannon didn’t have an update on the fundraising as of press time but said BFTP planned on announcing more founding contributors.
Benjamin’s Desk will also host a donors-only AWE Ventures event on Oct. 8 from 6:00-9:00 p.m., featuring Loretta McCarthy, managing director of Golden Seeds New York City, which invests in women-led companies.
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