TORONTO, March 6, 2019 /CNW/ - Scotiabank and Disruption
Ventures today have announced a partnership that will provide women
with support to take their business to the next level. The
milestone investment will be additive to The Scotiabank Women
Initiative, which helps women with access to capital, support
from senior business leaders, and education tailored to their
needs.
Disruption Ventures is Canada's
first private female-founded venture capital fund for women
entrepreneurs. Through this partnership, Scotiabank has committed
capital to Disruption Ventures, and will assist with marketing
initiatives, drive awareness of the partnership, and offer
educational content to support women entrepreneurs.
"Women entrepreneurs are a huge commercial opportunity," says
Elaine Kunda, Founder and Managing
Partner of Disruption Ventures. "Early-stage investing is only one
part of a company's success, which is why I am proud to announce
this very unique strategic partnership with Scotiabank. Access to
capital and banking services are critical to the sustainable growth
and long-term success of any business. Scotiabank's support will
create tremendous value for our portfolio companies."
"When we launched The Scotiabank Women Initiative in
December 2018, we committed to
supporting women business leaders through access to capital,
education, and mentorship, and we've seen early success and
tremendous engagement," says Gillian
Riley, President & CEO, Tangerine, and executive sponsor
of The Scotiabank Women Initiative. "Research has shown that women
are significantly underserved in venture capital markets. Funding
female entrepreneurs is what drives tangible change, and our
partnership with Disruption Ventures is another way for us to
expand access to capital and deliver on our promise."
Disruption Ventures will proceed with making initial investments
and continue to fundraise to reach its objective in 2019, at which
point it will be the largest private, independent, and women-only
fund in Canada.
About Disruption Ventures
Disruption Ventures is the
first private Canadian female-founded venture capital fund that
invests in businesses founded or managed by women. Recognizing that
women-led companies are underfunded, despite their ability to
perform and grow successful businesses, Disruption Ventures is
committed to being the starting point for the very best female
founders when early stage capital is required. For more
information, please visit www.disruption-ventures.com and connect
with us on Twitter @Elaine_Kunda and @DisruptionVC.
About Scotiabank
Scotiabank is Canada's international bank and a leading
financial services provider in the Americas. We are dedicated to
helping our more than 25 million customers become better off
through a broad range of advice, products and services, including
personal and commercial banking, wealth management and private
banking, corporate and investment banking, and capital markets.
With a team of more than 98,000 employees1 and assets of
over $1 trillion (as at January 31, 2019), Scotiabank trades on the
Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange
(NYSE: BNS). For more information, please visit www.scotiabank.com
and follow us on Twitter @ScotiabankViews.
1Employees are reported on a full-time equivalent
basis.
SOURCE Scotiabank