Nell Daly, a single mother and therapist, establishes Revenge Capital with a goal to transform funding for female entrepreneurs in the UK.
Nell Daly, a 49-year-old American entrepreneur, has established a new venture firm called Revenge Capital, which aims to support female entrepreneurs in the UK. The firm, launched in April 2022, emerged as a direct response to a comment made by an ex-boyfriend who suggested that Daly, a therapist and single mother of three, was fated to live in financial instability. “He didn’t last very long,” she remarked, emphasizing her determination to prove him wrong.
Daly’s venture capital firm has successfully raised £50 million, notably backed by Mayfair Associates, a financial firm led by financier Andrew Antonio. The fund’s primary objective is to provide financial support to women and ethnic minorities, groups that have historically faced challenges in accessing start-up capital. “There is not enough liquidity for female founders in the UK,” Daly pointed out, referencing evidence from Forbes indicating that women receive only 1.8 percent of venture funding in the country. This statistic has led her to advocate for a stark role reversal in funding allocations, posing a thought-provoking scenario: “Let’s flip it – imagine if men only received 1.8 percent of funding and women got the rest.”
Daly believes that the drive for revenge can be a significant motivator for success, particularly for female entrepreneurs. “Many entrepreneurs who are successful are out for revenge. They have an edge, an anger to prove somebody wrong,” she stated, suggesting that this emotional backdrop can spur women toward achieving their goals.
The firm has already made notable investments, including backing Pimentae, a trendy margarita brand, and Glassette, an online homeware marketplace founded by TV presenter Laura Jackson. Daly asserts that investment in women can not only be socially impactful but also financially lucrative. Data from US venture firm First Round Capital supports this claim, revealing that companies with female founders experience a 63 percent higher return on investment compared to their male-led counterparts.
Daly, whose commanding and charismatic presence is evident in her approach, stresses the importance of her work and the impact it can have on changing the funding landscape for female entrepreneurs in the UK.
Source: Noah Wire Services
