Caress is a founding partner of IFundWomen of Color. We know that every big dream starts with a small spark of possibility. It’s our goal to support these dreams from beginning to end.
Women, specifically women of color are more likely to launch new ventures and pursue their passions projects. Of the 1,800 new businesses started by women in this country every single day, 89% are founded by a woman of color. Unfortunately, less than 1% of women of color receive venture funding for new ventures, and over 70% of female founders cite lack of access to capital as the number one barrier to starting a business.
Caress and IFundWomen of Color have a shared belief that every good idea should have a fighting chance. We're committed to fighting systems of inequity deeply rooted in our society to ensure these entrepreneurs are set up for long term success.
When women have the chance to bring their dreams to life, they build the confidence to take on anything and everything ahead of them. That’s why Caress is working with IFundWomen as the founding partner of IFundWomen of Color, helping to provide opportunities and funding to women who are chasing their dreams.
The Dreams Fund will award 150 entrepreneurs who launched businesses in the last 12 months with $2,500 ($1,000 in grants and $1,500 in one-on-one intensive coaching scholarships) as well as additional resources on the IFundWomen of Color platform.
Through our founding partnership with IFundWomen of Color, we have supported 200 women of color owned small businesses with $500,000 in grants for immediate COVID-19 support and with IFWOC group coaching, mentorship, and connections needed to sustain their businesses. We are excited to build on with this additional funding, meeting our total commitment of $1MM for women of color!