Golden Seeds Launches 9th Chapter to Support Women-Led Startups

• Golden Seeds, a women angel network for women-founded startups in the U.S., has embarked on a new chapter in Chicago
• The chapter will be headed by Susan Abrams, Angela Allen, and Linda Singh

Golden Seeds, the largest angel network in the United States investing solely in women-founded startups, has opened its ninth chapter in Chicago.

The chapter will be co-led by Golden Seeds Managing Directors Susan Abrams, Angela Allen, and Linda Singh. The network has already made investments in two Chicago companies, NanoPattern Technologies Inc. and Every Body Eat.

"Golden Seeds is an activist investment firm where participation can yield up-front impact," Susan said. "We are bringing that commitment to Chicago to work with fellow-minded investors and invest in the most promising women entrepreneurs. Having a presence in the city for decades, we are delighted to make a formal commitment by launching this chapter."

Under the Illinois Department of Commerce and Economic Opportunity, the state has more than 457,000 women-owned businesses.

One of the biggest rates of venture-backed female-founded startup cities in the U.S. is found in Chicago. In 2023, over a third of new venture-backed ventures in the city had at least one female founder, which indicates opportunities for investment in the city.

Membership in Golden Seeds provides members with access to a network of almost 300 investors in 27 states, as well as co deal teams and quality deal flow. Members in local markets participate in industry groups like Health Care, Technology, and Consumer Products and Services, and join a nine-course nationally accredited investor training program.

Golden Seeds members have invested over $190 million in over 265 women-owned businesses since its inception, while collectively rising over $2.5 billion in follow-on capital.

"Golden Seeds has spent the last 20 years targeting high potential women entrepreneurs," said Angela. The network is dedicated to leveling the playing field for women and enabling them to participate across every sector of the economy, from investing to raising capital and building wealth.

This needs to be done by working together, and we are encouraged by the number of Chicago investors who share this vision.

The Chicago chapter will be part of a larger system of investment groups, accelerators, universities, nonprofits, and statewide initiatives, such as 1871, MATTER Chicago, and mHUB, which have been busy backing Midwest deals.

Places like The Josephine Collective also offer women the chance to get involved in angel investing. Abrams, Allen, and Singh intend to work with these organizations to drive economic development and support women across the board.

Linda said, "Our community of women and men shares the conviction that diverse companies, boards, and cap tables make the future more resilient and economically flourishing. We are excited to bring our skill, capital, and energy to help ensure the success of women-founded early-stage companies in Chicago."