Coralus Reaches Perpetual Fund, Announces Shift To Collective Leadership Model

This International Women’s Day, Coralus – a radically generous community helping Kiwi ventures founded by wāhine and non-binary entrepreneurs – is proud to announce it has achieved its goal to build a Perpetual Fund, and can now successfully run on its own.

The global community, which launched in New Zealand in 2017, has propelled many wāhine-led start-ups to great success through its well-resourced, radically generous community. With the support of Coralus, businesses and organisations such as Beany, Chia Sisters, Better Packaging and Hello Period have been empowered to scale impressive heights.

With a Perpetual Fund of approximately NZD$1.3 million now in circulation, this will continue to support at least five ventures per year in perpetuity. New Zealand is one of the five countries pioneering this regenerative business model.

The key milestones Coralus has achieved since launching in New Zealand in 2017 include:

• Successfully operating in New Zealand for five years
• Creating a perpetual fund with approximately NZD$1.3 million currently in circulation
• Supporting 25 ventures led by wāhine
• Strengthening diversity as 32 per cent of our ventures are women of colour.

Founder of Coralus (and SheEO), Vicki Saunders, says Coralus has had great success globally, with more than USD$14 million in circulation to more than 150 women and non-binary led ventures.

"We are excited to have reached a Perpetual Fund with the support of hundreds of women in New Zealand. We have proven an alternative model to funding women entrepreneurs and look forward to collaborating as a community to grow our impact.

“It’s been incredible to work closely with diverse groups of women and help them succeed. We now have more than thirteen percent of our global portfolio at Coralus led by Indigenous, Māori, and Aboriginal women,” says Vicki.

One of the women who has supported this venture since pre-launch in New Zealand is business leader and philanthropist, Theresa Gattung.

Having launched the network in 2017, Theresa has been the New Zealand lead of Coralus (formerly SheEO) for five years. Now that the radically generous community has achieved its goal to build a Perpetual Fund, Theresa will hand over the leadership baton.

Theresa is incredibly proud of Coralus’ achievements and feels immense satisfaction watching the start-up ventures she has helped nurture along with the support of the Coralus community.

“I’ve been involved with Coralus since pre-launch and over the five years it’s been actively running in New Zealand, I have met and supported so many fantastic wāhine-led start-ups. I’m a huge believer that, to promote meaningful change, we must equip a diverse group of people with skills that enable them to excel in business, as an entrepreneur and in life.

“Coralus has very much hit its stride in the New Zealand market. Now that we’ve met our milestone of a perpetual fund, I am confident to hand the reigns over to the next New Zealand lead and can’t wait to see what they do with this opportunity.

“And my journey in supporting women and girls is far from over – through my Gattung Foundation I will continue to address inequalities for women and girls and help make a difference. And in my capacity as funder of The University of Auckland Theresa Gattung Chair of Women in Entrepreneurship, I will also continue to help foster entrepreneurial women and equip graduates with hard pegged business skills,” says Theresa.

Vicki is grateful to Theresa for her dedication and commitment to the community over the last five years, and says “Theresa has been extraordinary in her role as lead of Coralus for New Zealand. With her help, we’ve been able to promote equity and diversity in the entrepreneurial world, helping women and non-binary communities thrive.

The Coralus community is deeply thankful and appreciative of Westpac’s continuing support over the past five years.

The community looks forward to its next growth phase in the years to come, and welcomes wāhine in Aotearoa to apply for the role of lead in New Zealand. For more information, please visit coralus.world

About Coralus:

Coralus supports, finances, and celebrates creators, makers and entrepreneurs on their own terms. The community is made up of entrepreneurs, executives, public leaders and everyday citizens.

Vicki Saunders – global founder of Coralus set out to create an entirely different funding model for women. After decades of watching the low percent of venture capital going to women, and less than one percent of corporate procurement going to women-led businesses – Vicki developed a model to not only help businesses with networked support but also to create a positive financial impact on the companies and the communities within which they operate. For more information or to see the complete list of Ventures and Activators, please visit Coralus.World

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