# Women's Angel Investor Network

Women's Angel Investor Network is an Asset Manager based in Dubai, United Arab Emirates.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** Dubai, United Arab Emirates
- **Region:** Middle East
- **Address:** Dubai, United Arab Emirates
- **Founded:** 2014
- **Assets under management:** Undisclosed
- **Website:** www.womensangelinvestornetwork.wordpress.com
- **LinkedIn:** https://linkedin.com/company/wain-women-s-angel-investor-network

## Regulatory record

- **Reports private funds:** No

## About

The Women's Angel Investor Network (WAIN) was established in Dubai by Heather Henyon, a venture investor who also founded Mindshift Capital and co-founded the Cairo Angels Syndicate Fund. The network was built to activate female angel investors in the Middle East, providing education, deal flow, and a structured community for women deploying capital into early-stage companies. Co-founders Lucy Chow and Rebecca Hill serve as Directors, with Chow also holding a role as a Senator for the UAE at the World Business Angel Investment Forum. WAIN's investment strategy concentrates on direct early-stage and start-up equity. The network sources opportunities through its member base and partner ecosystem, frequently co-investing alongside Henyon's Mindshift Capital and other regional networks such as Dubai Angel Investors and Cairo Angels. While sector-agnostic, WAIN's deal flow tends to reflect the broader UAE tech and consumer landscape, with a preference for companies that present clean due-diligence packages to a predominantly non-institutional membership. The network facilitated its inaugural Investment Summit for women-led businesses in partnership with Female Fusion, creating a dedicated origination channel for female founders. Team data and aggregate deployment figures are not publicly disclosed. WAIN's architecture relies on Henyon's multi-network presence — she is a founding member of Dubai Angel Investors and the Cairo Angels Syndicate Fund — which provides WAIN members a bridge to larger, more institutionalized co-investment rounds. Lucy Chow's chairmanship of the Steering Committee at The Capital Club Dubai further embeds the network in the emirate's private-capital community. WAIN members also participate in global angel forums through affiliations with the Angel Capital Association. WAIN's structural differentiator is its exclusive focus on activating female angels within a region where that investor segment remains nascent. The network does not operate its own fund vehicle; instead, it functions as a member-led pipeline and syndication hub, with Henyon's Mindshift Capital often taking board seats or leading rounds that WAIN members join. This creates a layered capital stack where angels can observe institutional-grade deal structuring before committing personal capital, a model designed to accelerate the sophistication of female angel investors in the Gulf.

## Sectors

- Generalist

## People

- Heather Henyon — Founder
- Lucy Chow — Director
- Rebecca Hill — Director

## Questions

### Who runs investment decisions at the Women's Angel Investor Network?

WAIN is a member-led network, not a discretionary fund. Investment decisions are made individually by member angels. The founding team — Heather Henyon, Lucy Chow, and Rebecca Hill — curates the deal flow and provides due-diligence support, but each member decides whether to commit personal capital to a given opportunity.

### How does WAIN source deal flow?

Deal flow is generated through the founders' parallel investment activities and partnerships. Heather Henyon's role at Mindshift Capital and her co-founding positions at Dubai Angel Investors and Cairo Angels create a cross-network pipeline. The network also hosted an Investment Summit with Female Fusion specifically to surface women-led businesses for member review.

### What investment stages does WAIN typically target?

The network focuses on early-stage opportunities, specifically start-up and seed rounds. WAIN's partner funds, such as Mindshift Capital, often lead or co-lead these rounds, providing institutional terms that WAIN members can follow. Later-stage or growth-equity transactions are not part of WAIN's observable mandate.

### How is WAIN related to Mindshift Capital?

WAIN founder Heather Henyon is also the Founding Partner of Mindshift Capital, a venture capital firm. Mindshift frequently co-invests alongside WAIN members or leads rounds that WAIN syndicates into. The two entities are separate — WAIN is a network, Mindshift is a discretionary fund — but their deal flow and investment committee processes are deeply interlinked through Henyon's leadership.

## Related profiles

- [Women in XR Venture Fund](https://altss.com/profile/women-in-xr-venture-fund)
- [WomenSpark](https://altss.com/profile/womenspark)

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Last updated: 2026-06-03T20:00:00.000Z

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