Cindi Englefield and Mary McCarthy, seasoned entrepreneurs, have joined forces to create Accelerating Angels, an investment fund aimed at supporting female-owned, tech-related companies. The pair met through the Women’s Small Business Accelerator in Dublin, co-founded by McCarthy to assist female entrepreneurs. In 2022, they launched Accelerating Angels with the goal of investing an average of $100,000 in each selected company, targeting rapid growth and eventual sale within five to seven years. The fund aims to invest in 20 companies, with Englefield tasked with growing the fund to $3 million by the end of 2024. Currently, $1 million has been secured.
McCarthy emphasizes the challenge women face in presenting a large enough vision to attract investors. Englefield praises McCarthy's expertise in entrepreneurship, curriculum development, and goal-setting for business owners. Accelerating Angels has made investments in two companies thus far after reviewing over 300 applications and nine pitches. One of the initial investments is in Powell-based SureImpact, co-founded by Sheri Chaney Jones. SureImpact uses data to help nonprofits and government agencies measure their impact. The investment from Accelerating Angels is helping the company manage growth from a new contract with Microsoft. Englefield and McCarthy’s initiative is set to significantly boost female entrepreneurship in the tech sector.