Angel investor vows to fund startups owned by women

Start-ups owned by women, often find it difficult to get funding from investors.

Recently, Crunchbase released a report which revealed that the percentage of start-ups owned by women is on the increase.

At the Seattle Angel Conference, Jonathan Sposato, CEO of PicMonkey, a photo editing software, said that he will only fund start-ups owned by women.

In an interview with Mashable, Sposato said “Female entrepreneurs do have a harder time getting traction—whether that’s raising money, getting their concepts across, or even recruiting.You can’t just take those issues and not do something about it. If you feel passionate about something, you have to be the catalyst.”

Sposato mentioned PockitDok, an e-commerce site for health care services, as one of the female owned start-ups he funded.

He said 'She has gone and tried to raise money in various investor pockets and wasn’t getting much traction.'

'PockitDok is doing incredibly well, and we have amazing investors,' he said.

Speaking on his twitter handle, he said the current system is sexist.