Ivanka Trump launching fund to invest in women entrepreneurs

Ivanka Trump has long been vocal about her support for women’s rights and empowerment. Now, the first daughter reportedly is putting her money where her mouth is.

Ivanka Trump is launching an investment fund to benefit female entrepreneurs around the world, Axios’ Mike Allen reports. The money, sourced from countries and companies, will provide working and growth capital to small and medium-sized enterprises.

“The statistics and results prove that when you invest in women and girls, it benefits both developed and developing economies,” she told Axios. “Women are an enormous untapped resources, critical to the growth of all countries.”

Apparently she’s already raked in some cash for this project. Canadians, Germans, some Middle Eastern countries and a few corporations have quietly committed. Of course her father, President Donald Trump, supports the plan. And Ivanka Trump reportedly has chatted with World Bank Group President Jim Yong Kim for advice.

How big will the fund be? It’s unclear, but Axios says it will be “massive.” Or to use her father’s lingo: It will be huge.

There’s clearly a need for more economic support of women-run businesses. Less than 10 percent of startups that raised funding between 2005 and 2015 had a woman on the founding team, according to PitchBook Data.

But it seems the controversy surrounding Ivanka Trump’s father, which often trickles down to the first daughter, could stand in her way here. She was booed at a women’s entrepreneurship summit in Berlin on Tuesday when she tried to say that her father was an advocate and a “champion of supporting families,” Business Insider reported.

President Donald Trump has been accused of sexual misconduct by multiple women. And some critics say Trump’s policies could make things more difficult for female entrepreneurs.

Photo: In this April 24, 2017, photo, President Donald Trump, accompanied by his daughter Ivanka Trump, talks via video conference with International Space Station Commander Peggy Whitson from the Oval Office of the White House in Washington. (Susan Walsh/AP)

 

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