Fern Capital launches $25 million 'Dignity Fund I' to tackle glaring gaps in women's health
Investing between $250,000 and $1 million of seed capital per company.
A new venture capital firm has announced a $25 million early-stage fund which will be focused on women’s health.
Fern Capital, co-founded by seasoned leaders Dr Afua Basoah and Dr Abigail Osei-Kumi, will back clinically validated, technology-driven solutions for health conditions that disproportionately, differently, or exclusively affect women. It is aimed at addressing the significant underfunding in women's health, a sector that, despite accounting for over half the global population and driving 80% of healthcare spending, receives less than 4% of R&D funding.
“Women’s health remains one of the most underfunded and underestimated sectors yet it represents one of the greatest opportunities to generate both financial and societal returns,” said Dr Osei-Kumi.
“At Fern Capital, we see investing in women’s health not as a niche, but as a generational opportunity to back visionary founders building enduring companies that improve lives at scale.“
Early stage support across the UK, Europe and Africa
Fern’s debut vehicle, Dignity Fund I, will invest between $250,000 and $1 million of seed capital per company. While the fund is still in the process of closing, its first investment has already been made in Impli, a UK-based startup founded by Anna Luisa Schaffgotsch, developing a real-time hormone monitoring device for use during IVF.
“[Impli is a] breakthrough innovation in a fast-growing market where access, safety, and precision are long overdue,” wrote Fern Capital in an announcement post on LinkedIn.
“This is exactly the kind of founder and company Fern Capital was created to champion: deep tech with human impact, rooted in unmet clinical need, positioned to scale globally.”
The Fern fund, which operates remotely between the UK and Ghana, will continue to target early-stage startups across the UK, Europe, and Africa - regions that the co-founders believe offer both strong technical capabilities and under-capitalised innovation pipelines. By combining Africa’s mobile-first healthcare infrastructure with Europe’s research strengths, Fern is positioning itself to support science-backed innovation in women's health on a global scale.
Both co-founders bring deeply relevant experience to the challenge. Dr. Afua Basoah is a neuroscientist turned turned healthcare communicator, turned healthcare consultant who has spent over two decades working at the intersection of public health, commercial strategy, and social impact.
Dr Abigail Osei-Kumi spent 15 years as Managing Director of a financial services company in Ghana, where she focused on expanding access to capital for underserved communities, particularly women.
Backing 'zebras, not chasing unicorns’
Fern Capital’s approach also departs from the high-growth-at-all-costs model that still dominates venture capital. Instead, the firm favours resilient, impact-driven businesses with sustainable revenue and long-term health outcomes at their core.
“We’re not chasing unicorns - we’re backing zebras: companies that are grounded, resilient, and focused on real-world impact,” said Abigail.
“For us, it’s not just about billion-dollar valuations - it’s about billion-dollar outcomes in the form of healthier women, stronger communities, and sustainable businesses.”