2023 Artemis Impact Report
The Artemis Fund believes technology can create prosperity for all, but it’s not possible without diverse perspectives. Artemis leads seed rounds for diverse tech founders with wild ambitions in fintech, commerce, and care building the economy of the future.
Annually, The Artemis Fund publishes an impact report summarizing our firm and portfolio’s social and economic impact.
The fund is named after Artemis, the goddess of the hunt and champion of women and wild things. At Artemis, we believe technology has the potential to create prosperity for all, but it’s not possible without diverse perspectives. Artemis leads seed rounds for diverse tech founders with wild ambitions in fintech, commerce, and care building the economy of the future.
Artemis has invested in 20+ companies, of which 100% are led by female founders and 60%+ have Black, Latinx, or immigrant leadership. Since 2020, Artemis has helped our portfolio 5X revenue and raise $260M in capital.
Why Fintech, Commerce, and Care?
Fintech is an equalizer for consumers and business, democratizing access to robust financial tools and surfacing valuable insights.
- 63M people in the U.S. are unbanked or underbanked.
- 63% of new wealth ($42T) created since 2020 went to the richest 1%
- 43% of SMBs struggle with access and cost of credit
- 10% of low-income workers have retirement funds
Commerce will be digital and sustainable. Small businesses employ nearly half of the US workforce, but face growing economic pressures.
- 5.5M new businesses were started in 2023
- 80% of SMBs generate <$1M in annual revenue
- 22% of commerce happens online
- 40% of U.S. SMBs are women-owned
Care should be affordable for all. One-quarter of all U.S. adults are part of the “sandwich generation”, meaning they provide care for both children and a parent aged 65 or older.
- 53M unpaid family caregivers in the U.S.
- 82M adults are caring for both children and aging parents
- 23% of caregivers take on debt to cover care costs
- $300K in savings are lost by caregivers who leave the workforce
Portfolio Impact
In addition to business traction, our portfolio companies are making a tremendous economic impact on the bottom line of everyday Americans. Each year we collect and analyze impact metrics set in partnership with our portfolio companies. These impact metrics measure revenue and jobs created, particularly for SMBs and women, and families served. By bolstering the bottom line for customers, our portfolio companies create sustainable and sticky businesses that drive top tier returns for our investors.
In 2023, our portfolio generated:
- $310M in revenue for SMBs
- Created 13K jobs
- Served 410K families
Over the next decade, Artemis plans to generate:
- $50B in revenue and financing for small businesses
- Create 100K jobs
- Serve over 10M families
Community Impact
In 2023, we leaned into community and exponentially increased our impact with 25 events and 550 attendees across 8 cities. In 2024, we are doubling down on our community efforts in key geographies where our founders, pipeline, co-investors, and LPs intersect.
We’re also developing the next generation of diverse female talent within the venture capital industry through our Venture Fellows program. We have 40 alumni, 100% of whom are diverse females, coming from 11 universities.
We are proud to share our third annual 2023 Artemis Impact Report highlighting our portfolio’s progress in addressing key barriers faced by overlooked businesses, communities, and families in the U.S.
Learn more about the companies in our portfolio on our website. If you’re a founder innovating in commerce enablement, fintech, or the care economy, pitch us here!
