F3 - Connecting Femxle Founders and Funders in Web3
$10K ProjectY Application
Womxn represent 51% of the world’s population; 30% of all entrepreneurs.
At its peak in 2020, less than 3% of all venture capital went to femxle-led or femxle founded companies. And of this 3%, more than 75% went to funding later-stage companies. Yes, womxn have to prove themselves beyond a shadow of any doubt before they are funded by the same VCs that are writing cheques to male founders with an idea and an Ivy league education.
Well, Fuck 3.
When we zoom out to the bigger picture, we see that femxle funders are 2x likelier to invest in startups with one femxle founder and 3x liklier to invest in a femxle CEO. However, less than 9% of decision makers at VC firms are womxn. We need more womxn funding.
- VC firms that increased the number of femxle partners by 10% experienced a 1.5% increase in fund returns each year, plus 9.7% more profitable exits.
- Womxn-led funds are up 15x in the last decade.
Today, womxn aren’t just left out of the decision-making table, they’re not even allowed in the room. With accreditation requirements of over $1 million in assets (not including your home) or a household income of $300,000 and minimum cheque sizes of $25,000 — participating in venture capital is virtually impossible for womxn.
F3 is a community that transforms connects femxle founders and funders in Web3.
Yes, while there are amazing communities for femxle founders and funders like AllRaise, ElleVest, and Blu3Dao, we’ve yet to address the pink elephant in the room: getting funding into the hands of femxle founders.
By becoming a member of the F3 community, you gain access to practical education, meaningful mentorship, funding opportunities, and most importantly - your subscription funds the next femxle founder. It’s a win-win for everyone.
Empower and accelerate femxle-led innovation for gender equity.
Create the world’s largest venture capital fund built in Web3 by womxn to fund femxle founders.
- She/They are crypto curious
- Makes purchasing decisions based on values-alignment
- Has a FUCK YES attitude
Building Community through Education
Womxn have inherited systems and processes that were built for and by men. This is what we call history. To meet womxn where they’re at, we’re going beyond traditional Web3 mediums and building a commuity through practical education. We’re speaking to them in channels like Instagram, TikTok, podcasts, and email — where they call home. We’ve already begun sharing **articles on our Medium publication to break down complex Web3 concepts for our growing community of crypto curious womxn. We’ll build our community through sharing educational content like this post: WTF is CryptoCurrency?
Subscriptions and Token Allocation
By providing a strong foundation for our community through practical education and meaningful relationship building, we will ask our members to contribute to a monthly subscription. Their subscription fees will pool into a fund that F3 can invest with. Each active subscribing member will be issued an F3 token which provides every holder with rights that revolve around voting on which femxle founded company we will invest in as a community next. For example, they can decide on the industry they are most excited about, what metrics they want to assess, and what teams they see promise in. Members will be required to vest their tokens to create a fair and safe funding ecosystem for our community. In this way, every femxle founder becomes a funder.
DAO Governance and Funding Femxle Founders
As our community members become experienced with tokens from their subscription, we will completely decentralize decision making by turning it back to our community in the form of a DAO. The members and holders of the F3 token will decide how, when, and why we make funding decisions. This is how we re-write and reclaim herstory.
Partnership grant allocation
The allocations associated with the partnership grant will be assigned to specific functions, allowing for true transparency.
F3 Festival (50%)
The majority of the grant will be allocated to producing F3 Festival, a welcome party for womxn from beyond the web into web3. F3 festival will be a hybrid event with our in-person experiences hosted in Vancouver, BC. The festival will take place over two days from July 8-9th, 2022. Designed as a celebration of womxn in web3, we will be paying every womxn speaker an honorarium for her time and effort. We welcome everyone from the crypto curious to the cryto confident.
Funding Femxle Founders (25%)
A portion of the grant will be allocated to funding one femxle-founded company in Web3 at F3 Festival. An open call to all femxle founders will be made in advance of the festival, and 10 will be vetted for the semi-finals on day 1. The final 3 will go on to pitch on the final day to the a panel of industry judges for commentary, and the grant will be awarded based on the majority vote from the festival attendees in true DAO fashion.
Workshops and community (12.5%)
F3 will partner with existing community groups dedicated to supporting womxn beyond and across web3. This includes groups that support existing and aspiring femxle founders and funders in traditional businesses, web2 companies, web3 starutps, and whatever is next. Together, we can share resources to support our shared goals of educating, connecting, and funding femxle founders and funders. We look forward to building alongside Harmony’s inspiring teams at H.E.R.Dao and Blu3Dao.
F3 is committed to create an expansive DAO to run the overall ecosystem and make funding decisions. The grant portion allocated to the DAO will be used to both build, market, and develop a fully transparent and accessible funding experience for every one of our members.
For references and additional research: F3 - Research and Overview