# Rogue Womens Fund

Rogue Womens Fund is a Private Equity based in Portland, United States.

## Overview

- **Organization type:** Private Equity
- **Headquarters:** Portland, United States
- **Region:** North America
- **Address:** Portland, OR, United States
- **Founded:** 2019
- **Assets under management:** Undisclosed
- **Website:** www.roguewmn.com
- **LinkedIn:** https://www.linkedin.com/company/roguewomensfund

## Regulatory record

- **Reports private funds:** No

## About

Rogue Women’s Fund is an early-stage venture capital firm investing in women-led B2B SaaS, Enterprise, and B2B2C software companies. They write an average check size of $500K, can lead or join a round, and help founders build venture-scalable businesses. Investments span women’s health, the care economy, experience tech, and foundational industries. They invest in early seed stage companies incorporated in the US and share fund profits/GP carry with founders.

## Sectors

- Enterprise Software
- AI/ML
- Digital Health
- Women's Health
- PropTech
- FinTech
- EdTech
- Media & Entertainment
- Future of Work

## People

- Caroline Lewis — Managing Partner, Founder
- Tom Sperry — Partner, Co-Founder
- Adam Stoll — Partner, Co-Founder

## Questions

### What is Rogue Women's Fund's core investment thesis?

The firm targets the persistent funding gap for women-led startups — 42% of US businesses are founded by women, but they receive only 2.8% of venture capital. Rogue treats this as a structural market inefficiency, not a diversity program. It focuses on seed-stage B2B software and tech-enabled services where valuations are below $10 million.

### Who leads investment decisions at the firm?

Managing Partner and founder Caroline Lewis leads the firm, alongside co-founders Tom Sperry and Adam Stoll. Day-to-day investment committee structure is not publicly detailed, but the firm's website presents Lewis as the primary investment lead and public face.

### What investment stages does Rogue Women's Fund target?

The firm invests exclusively at the seed stage, focusing on companies with first or second iterations of technology, early revenue, and valuations under $10 million. It states a preference for leading rounds rather than following.

### Which sectors does Rogue Women's Fund explicitly avoid?

The firm's published materials define clear focus areas — B2B SaaS, enterprise, B2B2C, women's health, care economy, experience tech, and foundational industries. Hardware, deep-tech biotech, and consumer-packaged goods do not appear in its listed sectors or portfolio.

### Does Rogue Women's Fund co-invest alongside external VCs, or only lead rounds?

The firm states it leads seed rounds, but specific co-investor relationships are not disclosed. Given its fund size and stated strategy, syndication with other early-stage investors is typical, though no named co-investors appear in available public materials.

## Related profiles

- [Rogue Venture Partners](https://altss.com/profile/rogue-venture-partners)
- [Roha Group](https://altss.com/profile/roha-group)

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Last updated: 2026-08-11T15:07:57.118Z

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