Israeli Idea for German Diversity
A special fund committed to increasing the number of women within Berlin’s start-up scene. That’s the idea of 43-year-old Israeli investor Mali Baum from Tel Aviv.
Baum can draw from experience in both Israel and New York and from four rounds of funding for her company Beezeebee, which makes toys. Her new capital fund, called Magda, collects funds from Germany, Israel and China and is projected at 60 million euros.
20 percent of the money will be allocated by VC investors in Germany, and the rest by European VCs. The only condition is that investors have a diverse team and portfolio.
Germany’s Start-Up Monitor says that at present only 16 percent of the country’s entrepreneurs are women.
“There are lots of women who want to start a business or take on a leadership role, but Germany is at least ten years behind Silicon Valley and Tel Aviv,” says Baum.