Each year, we share this update to keep you connected to the impact of the MDW Fund—highlighting the progress of our graduates and what’s next on the horizon.

In a time of uncertainty, we remain focused on progress.

For those working toward gender equity, it can feel as though hard-won gains are at risk. We hear this from our community—and we feel it too. But at the Million Dollar Women Fund, we believe in the power of action. Even small steps can create meaningful momentum. 

Over the past year, we’ve welcomed new board members, advisors, and rising leaders who are actively shaping the future of our work. Their contributions are already making a measurable difference, and their journeys reflect the transformative potential of engaging in this mission.

Over the past year, the MDW Fund has taken bold steps to meet the moment:

  • 35 scholarships awarded.

  • Hosted 5 Women. Work. Wealth. events, reaching 5,000+ women leaders, executives, professionals, and business owners.

  • Launched Advisory Council of investors, executives, and entrepreneurs, and have worked closely with five active members.

  • Launched a new Rising Leaders Council - a pipeline of next-gen changemakers who are championing our mission (Know someone in NYC who wants to join? Just reply to this email!)


Now, as scholarship demand continues to rise, we’re hoping you’ll consider a gift to Bridge the Gap Campaign.

We are seeking to raise $25,000 by September 30th.

Helping More Women Go Big

There are several meaningful ways to support our work:

Contribute – Every donation, from $25 to $250 or more, helps us expand our reach and deepen our impact.

Volunteer – Serve as a mentor to women entrepreneurs and help guide their growth.

Connect – Introductions to potential funders, partners, or advocates are invaluable. Every new sponsor in 2025 came through a personal connection.

Success Stories

Women. Work. Wealth.

Yale Club Fundraiser

In May, MDW Fund hosted the second annual fundraiser at the Yale Club in NYC. The fireside chat between Petrushka Bazin Larsen, Co-founder of Sugar Hill Creamery, and Ann Shoket, CEO of The Li.st and former Editor-in-chief at Seventeen Magazine left everyone inspired. Several MDW Fund scholarship recipients showed up to share their stories, and the impact the MDW programs have had on their businesses. 

Pop Up & Panel

In October 2024, MDW Fund hosted a Pop-Up Shopping event & Panel with three incredible founders at Pride Global in NYC. Women-owned businesses showcased their products, and shared real stories of growth, struggle, and resilience. 

Meet the New Board Chair: Ilana Ash

We’re thrilled to welcome Ilana Ash, Chief Investment Officer of Portfolio Management at BNY, as our new Board Chair. Ilana brings years of experience in finance, operations, and inclusive leadership, and a deep personal commitment to closing wealth gaps for underrepresented women. 

Why this matters:

Women of color continue to start businesses at the highest rates, but are often left behind when it comes to funding, mentorship, and growth opportunities:

  • Women of color founders earn $25K–$50K annually, compared to $100K–$140K for white women

  • Fewer than 1% of WOC entrepreneurs ever reach $1M in annual revenue

  • Only 4% of Black female founders and 2% of Latinas raise equity financing

  • Women with disabilities are nearly twice as likely to be self-employed, but face higher barriers to capital

  • Veteran women founders often lack access to gender- and military-specific entrepreneurial support networks

MDW Fund exists to change these stats, one founder at a time.

83% of our graduates increase their revenue, 74% expand their teams, 50% double their revenue, and 15% go on to generate $1M+ annually - that’s 5x the national average.

How to Support:

If you want to learn how to be part of our growing community of people who are helping women of color entrepreneurs create thriving businesses and bring about greater economic parity, we'd love to hear from you and find a way to get you involved (just reply to this email). If anything inspired you here, please consider making a donation of $25, $50 or $100 at mdwfund.org. Every dollar goes to work to help a business owner access coaching, mentorship and alternative capital.

We are so grateful to you and to all the supporters, mentors and partners who make this work possible.

Julia Pimsleur, Founder, MDW Fund - julia@millionwomen.com
Erin Coles, Executive Director, MDW Fund - erin@millionwomen.com