Venture capitalist and entrepreneur Allison Stern has secured $10 million in commitments for her first investment fund, Mother Ventures, which focuses on startups targeting mothers as consumers.
The fund arrives as companies and investors increasingly examine consumer categories shaped by millennial and Gen Z parents, particularly mothers who control a large share of household spending in the United States.
“In the U.S., moms are responsible for 85% of household purchases and have $2.4 trillion in spending power,” Stern told TechCrunch.
“The numbers say that moms are the buyers, and they really are a very unique economic engine,” she added.
Stern, who is a mother of two, launched Mother Ventures two years ago and has already invested approximately $4 million across 13 startups.
Fund Targets Consumer Startups Beyond Parenting Apps
Mother Ventures focuses on companies that address the needs, spending habits, and lifestyle preferences of modern mothers.
Its portfolio includes Coral Care, a platform allowing parents to book pediatric specialists for children with developmental delays, and Tin Can, a Wi-Fi-enabled retro-style phone designed for children.
Before starting the fund, Stern co-founded Tubular Labs, a social video analytics company that reached $25 million in annual recurring revenue before being acquired by a private equity firm in 2023.
She also worked as an operating partner at The Chernin Group, a consumer-focused investment firm.
Stern said her experience at The Chernin Group influenced her approach to identifying underserved consumer audiences with significant purchasing power.
The firm previously invested in companies such as Barstool Sports, which initially focused on Boston sports audiences.
“I felt like motherhood is the ultimate niche that’s not really a niche,” Stern said.
Blackstone Executive Backed Fund As Anchor Investor
Stern said Tony James became the fund’s anchor limited partner.
James currently serves as board chair of Costco Wholesale.
Additional investors include Jessica Rolph and female executives from companies including Netflix, Rent the Runway, and Sesame Workshop.
Stern said younger generations of mothers increasingly expect products and services built around convenience, digital access, and subscription-based experiences.
She pointed to companies including Zum for transportation services, DoorDash for meal delivery, and Greenlight for child-focused financial tools as examples of changing consumer behavior.
“We want healthy things. We want subscription things. We want digital communities,” Stern said.
Despite the fund’s branding, Stern said she does not view Mother Ventures strictly as a parenting-focused investment vehicle.
“It’s a consumer fund, and focus on the mom as the consumer allows us to be wider in our bets,” she said.
Featured image credits: Pexels
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