Gaingels
| Company type | Private |
|---|---|
| Industry | Venture capital |
| Founded | 2014 |
| Founder | David Beatty, Paul Grossinger |
| Headquarters | Burlington, Vermont , United States |
Area served | International (including Australia, London, Toronto) |
Key people | David Beatty, Paul Grossinger |
| Products | Venture capital investments |
Gaingels is a venture capital firm headquartered in Burlington, Vermont, United States, that concentrates on funding enterprises led by diverse and historically underrepresented groups. Its investment focus includes companies with LGBTQIA+ leadership, emphasizing progressive social principles.
Background
Established in 2014 by David Beatty and Paul Grossinger, Gaingels originated as a collective of LGBTQIA+ angel investors dedicated to backing startups founded by members of the LGBTQIA+ community. The firm's name is derived from a combination of "gay angels" and the concept of "gaining from angels."
By 2018, Gaingels identified the lack of diversity within venture capital and the challenges faced by LGBTQIA+, female, and minority founders. Consequently, it expanded its mission to drive social impact through its investments, broadening its portfolio to include a wider array of diverse companies while actively advocating for enhanced leadership diversity among its portfolio firms.
This evolution contributed to a significant increase in invested capital, rising from $5 million in 2018 to $50 million during the initial eight months of 2020. Collaborations with other investors have also amplified the volume of deals sourced.
In 2020, Gaingels introduced a scholarship initiative aimed at supporting LGBTQIA+ students.
The firm operates offices internationally, including locations in Australia, London, and Toronto.