Mother Ventures is looking at moms as the economic engine | TechCrunch
News Source : TechCrunch
News Summary
- Mothers are responsible for 85% of household purchases and have $2.4 trillion in spending power.
- Allison Stern, a mother of two, is tapping into that spending clout by backing startups that reflect the needs of modern mothers.
- Stern convinced Tony James, the former president and COO of Blackstone and current board chair of Costco, to back Mother Ventures as an anchor LP.
- Other backers of the fund include Jessica Rolph, founder of the child development startup Lovevery, as well as female executives from Netflix, Rent the Runway, and Sesame Street.
As families across the U.S. prepare to celebrate Mothers Day this Sunday, Allison Stern is looking beyond the single day of appreciation.Stern just closed $10 million in commitments for her debut e [+2560 chars]
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