blonde woman smiling
Mindshift founder Heather Henyon

Name: Mindshift Capital

Location: Dubai


Size: Target $10 million fund (final closing February 2022)

What it is: Established in 2019, Mindshift Capital is a gender-lens venture capital fund focused on investing in early-stage technology companies with exceptional female leaders delivering local solutions to global problems.

Mindshift is led by a team of international business angel investors and entrepreneurs that the fund says have collectively invested in more than 200 companies. Mindshift is focused on companies in the foodtech, fintech, edtech and health & wellness tech. COVID-19 has significantly accelerated disruption in those spaces, the fund argues.

Minimum investment: $100,000 (individuals) and $500,000 (institutions)

Leadership: Mindshift Capital was founded by Heather Henyon, also the founder of women’s angel investor group Women’s Angel Investor Network (WAIN) in MENA, in 2014. As an individual, she made 100 direct and fund investments in the US, Europe and Middle East, according to Mindshift. Other members of the investment committee include Barbara Baumgartner and Joumana Jallad, according to its web site.

Investment style/track record:  The fund, which focuses on post-seed, early-stage companies, to date has invested in nine female-led companies in the fintech, healthtech, foodtech and edtech space in 2020 across five different countries. Audited returns (unrealized) in 2020 were 47.5% IRR, according to the fund.

Quote: “Our portfolio approach is built on decades of global experience and cross-border investing, and our vast network allows us to find stellar female-led businesses in fast growing tech markets across the globe,” said founder Heather Henyon by email.

If you have an idea for a small, new VC fund that ought to be included in a VC spotlight, especially one run by a woman or person of color, please contact Elizabeth MacBride,

This story and others on New Builders Dispatch are made possible by a sponsorship from the Ewing Marion Kauffman Foundation. The Ewing Marion Kauffman Foundation is a private, nonpartisan foundation that provides access to opportunities that help people achieve financial stability, upward mobility, and economic prosperity – regardless of race, gender, or geography. The Kansas City, Mo.-based foundation uses its grantmaking, research, programs, and initiatives to support the start and growth of new businesses, a more prepared workforce, and stronger communities. For more information, visit and connect with and

A business journalist for 20 years, am the founder of Times of Entrepreneurship and the co-author of The New Builders.