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Hypatia Capital seeks $100 mln for Fund I

Hypatia Capital has kicked off fundraising for its debut private equity fund that will focus on backing women leaders.

New York-based Hypatia, an investment bank, is seeking $100 million for Fund I, said Patricia Lizarraga, the firm’s managing partner.

Hypatia’s debut fund will have a generalist, middle-market focus and target growth equity and buyout investments using $8 million to $12 million equity per deal. The firm will originate transactions, both large and small, backing female CEOs and will partner with co-investors as necessary, the email said. Hypatia also wants to back female CEOs who are interested in acquiring companies, she said.

Hypatia will be serving as its own placement agent, Lizarraga said.

“We do believe that there are investors who want to back women in very senior roles, “ Lizarraga said.

Hypatia Capital Partners I LP is being offering to accredited investors through a private placement under Rule 506(c) of Regulation D of the Jumpstart Our Business Startups Act, a Thursday email announcing the launch said.

To qualify as an accredited investor under the JOBS Act, an individual must have a net worth that exceeds $1 million, excluding the value of their primary residence. Or, the individual must have income of more than $200,000. The minimum investment of Hypatia Fund I is $100,000, according to offering documents.

The name Hypatia refers Hypatia of Alexandria, which is the Greek scholar born in the fourth century A.D. Hypatia was considered the first female mathematician.

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