Encinitas, CA, January 2020 – Just 2.5 percent of all venture-capital-backed startups have an all-female founding team. Only 9 percent of the venture capitalists investing in tech startups are women. Ad Astra Ventures and MentorBoost are working together to improve both of these metrics by actively incubating, investing in and educating female founders.
Ad Astra Ventures is a San Diego-based seed fund that focuses on first-time female founders. They have developed an accelerator program for their portfolio companies and have a unique model combining educational programming with capital investing. Their proprietary curriculum takes an entrepreneur-centric approach, helping the founder(s) build a strong business foundation based on their particular skills and experience. They offer variations of this content in several forms including weekend retreats, half-day workshops, and an intensive 8 week accelerator program.
Since July 2019, MentorBoost has been sponsoring their Finance 102– Entrepreneurial Finance and Financial Modeling course for Ad Astra’s one-day bootcamp participants. This course goes into deep detail about how to model their business and tell the story about their businesses future. To tell their business’ story, it teaches financial modeling best practices and helps each entrepreneur develop a full five year financial model for their business through.
Chris Holbrook, founder of MentorBoost explained, “Finance is intimidating, especially to those who have no formal training in finance or accounting. And, it’s the one area that causes the most pain to founders. It’s also the most common area where conversations with investors gets derailed. Empowering these founders with this knowledge gives them a much better chance as raising money and having success in business.”
One participant in the bootcamp was Rachel Eva, CEO and Founder of Standard Spoon Barware. She reflected on how, “as an entrepreneur who had been bootstrapping my business for the last few years, with pretty simple financials, I desperately needed a framework to work from in order to do proper financial planning and projections. As we scale our business and look to grow our team and our operations, I was afraid of making mistakes with bigger numbers.” Eva continued by expanding on how she was able to make “some decisions in terms of marketing and advertising, and […] go back into [her] model and update it” while specifying that “the excel templates are just what I needed to begin to build a dynamic set of financial models.”
As this partnership furthers, Ad Astra Ventures and MentorBoost are looking forward to more financial bootcamps and creating more opportunities for these women to scale and see their businesses flourish. By working together, Ad Astra and MentorBoost changing the narrative that female founders cannot get venture funding. If interested in seeing what else MentorBoost can provide, check out the MentorBoost Course Catalogue.
ABOUT AD ASTRA VENTURES
Ad Astra Ventures is San Diego’s joint business accelerator led by women for women. They target high-growth businesses to invest not only their knowledge but also their money. Ad Astra provides educational programs combined with investing to help women-led startups reach to the stars.
MentorBoost was born from the lack of a step by step practical real world education resource that guides students through the entrepreneurial journey. We lead with our e-Learning classes that cover all the critical bases. We supplement that framework with additional education resources from book reviews, articles and videos.