AED Partners with Citrine Angels to Support Female-led Startups

Published on February 08, 2024

ARLINGTON, Va. — Arlington Economic Development (AED) has announced a partnership with Citrine Angels, the largest female-focused angel investing organization in the mid-Atlantic region pledged solely to the support of women-led ventures. With a shared goal to boost female-led entrepreneurship and startup activity in Arlington, AED and Citrine Angels are launching the Elevate Your Venture: Arlington Female Founder Series, which will include four free educational events designed to tackle the unique challenges facing entrepreneurs today.

This series and partnership aims to support and positively impact businesses throughout the County, and help to counteract inequities and lack of access to capital more commonly experienced by women entrepreneurs and business leaders. It is being powered by the Arlington Innovation Fund, which also provides grant funding for startups to accelerate entrepreneurial growth.

“While Arlington was named the Best City for Women in Tech in 2021 and 2022 by SmartAsset, there remains additional work to increase opportunities for founders,” Michael Stiefvater, Director, Business Investment Group said. “According to a recent Pitchbook report, women founders received only two percent of total capital in 2022 — the data shows that partnerships and series of this nature are essential to businesses and Arlington Economic Development is committed to providing high-level resources via organizations like Citrine Angels."

"Citrine Angels and Arlington Economic Development share a common goal to support the growth and success of female-founded businesses and increase access to investment opportunities for and by women,” Stephanie Marshall, co-founder and Board president, Citrine Angels said. “Programs like the upcoming series are vital to the community as they educate and connect like-minded groups. We look forward to working together to build and support the community and encourage others to join us."

The Elevate Your Venture: Arlington Female Founder Series launches March 5, 2024, with its first event: "Is Venture Capital Right For You?" This event, sponsored by AED and powered by Citrine Angels, will feature discussions on whether startup companies should pursue venture capital or alternative funding methods. Additional events tentatively slated for upcoming months and topics are as follows:

  • What Does It Mean to Be Venture Ready? – May 2024
  • Building Your Startup Dream Team – September 2024
  • Deciphering the DMV Innovation Ecosystem – November 2024

For more information on the Elevate Your Venture: Arlington Female Founder Series and to register for the kick-off event, please visit bit.ly/CitrineAngels. For startups interested in learning more and applying for the Arlington Innovation Fund grant, visit arlingtoneconomicdevelopment.com/aif.

Arlington Economic Development

Arlington Economic Development (AED), part of Arlington County Government, is dedicated to the preservation and enhancement of an economically competitive and sustainable community, and the creation of exciting, diverse and amenity-rich places. AED provides visionary leadership and superior services to Arlington’s business and arts community, its tourism industry and its real estate development. For more information, visit arlingtoneconomicdevelopment.com.

Citrine Angels

Citrine Angels, a 501(c)(6) nonprofit, is the largest angel investing organization in the mid-Atlantic region pledged solely to the support of female-founded companies. Comprised of more than 60 women angel investors committed to empowering female entrepreneurs through investments and mentorship, Citrine aims to close the gender funding gap and increase the number of successful women-led businesses. Since its founding in 2019, Citrine has invested more than $1.1M in more than 20 female founded companies that have gone on to raise more than $400M. For more information, visit citrineangels.com.

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