Published on October 16, 2025 | Last Updated: October 16, 2025 | Reading Time: 12 minutes
Introduction
In European venture capital today, the difference between identifying the next unicorn and missing out often comes down to the tools investors choose. Agata Leliwa Nowicka, Managing Partner at Female Foundry, has built one of Europe's most sophisticated investment tech stacks. Her approach has enabled her to identify and support 50+ female-led startups with a combined valuation exceeding €2.8 billion.
Here's what makes this remarkable: Agata's strategic approach to tool selection has resulted in a 40% higher hit rate compared to traditional VC methods. This makes Female Foundry a leader in female-focused venture capital.
This analysis reveals the exact tools, strategies, and decision-making process behind Female Foundry's technological success in identifying and nurturing Europe's most promising female entrepreneurs.
The Challenge: Why Female Foundry Needed Advanced VC Tools
The Problem Statement
When Agata founded Female Foundry in 2019, the venture capital world presented several critical challenges for female-focused investing:
Challenge 1: Female founders receive only 2% of European VC funding, making them harder to identify through traditional channels
Challenge 2: Limited pipeline visibility into women-led startups due to network bias in traditional VC circles
Challenge 3: Scaling due diligence processes to evaluate 200+ startups monthly while maintaining quality standards
Market Context
The European VC sector in 2019 had these characteristics:
Limited data on female founder performance metrics
Fragmented information across multiple platforms and databases
"We realized that to truly support female founders, we needed to completely reimagine how venture capital discovers, evaluates, and supports startups. Traditional tools weren't designed with diversity in mind." - Agata Leliwa Nowicka, Managing Partner at Female Foundry
Success Metrics Defined
Agata established clear success metrics for tool selection:
Primary KPI: "Increase female founder deal flow by 300% within 18 months"
Secondary KPI: "Reduce due diligence time from 6 weeks to 2 weeks per startup"
ROI Target: "Generate 4:1 ROI on technology investments within 24 months"
Agata's Strategic Tool Selection Process
The Framework
Agata developed a systematic approach to evaluating and implementing new technologies. Her process draws from her INSEAD MBA training and 15+ years of entrepreneurial experience:
1. Problem-Solution Fit Analysis
Problem Identification: Weekly team retrospectives to identify workflow bottlenecks
Solution Mapping: Monthly technology evaluation sessions with 3-tool minimum comparison
Impact Assessment: Quantitative modeling of potential productivity gains
2. Technical Evaluation Criteria
Connection Capability: Must connect with existing Salesforce CRM and Notion workspace
Scalability: Must handle 10,000+ startup evaluations annually
Security Standards: Compliance with GDPR and financial services regulations
Team Adoption: Learning curve under 2 weeks for non-technical team members
3. Financial Assessment
Total Cost of Ownership: 3-year financial modeling including training and maintenance
Setup Costs: Maximum 20% of quarterly technology budget
ROI Timeline: Expected positive ROI within 12 months
Tracking capabilities, founder support tools, ROI measurement
Team Collaboration
10%
Adoption ease, communication speed, knowledge sharing
Deep Dive: Airtable for Deal Flow Management
Tool Overview: Airtable
What it does: Custom database and project management platform that serves as Female Foundry's central deal flow hub Why Agata chose it: "Airtable gave us the flexibility of a spreadsheet with the power of a database, allowing us to create custom fields for tracking female founder metrics that other VC tools ignored." Setup timeline: 3 months from evaluation to full team adoption
Technical Specifications
Core Features Used
Custom Database Schema: 47 custom fields tracking everything from founder demographics to market size analysis
Automated Workflows: Connection with Zapier to automatically update deal stages and send notifications
Collaboration Views: 8 different views designed for different team roles (analysts, partners, assistants)
"Airtable transformed how we think about deal flow. Instead of managing spreadsheets, we now have a living database that helps us identify patterns and opportunities we would have missed before." - Agata Leliwa Nowicka, Managing Partner at Female Foundry
Secondary Tools That Power Female Foundry's Investment Engine
The Supporting Ecosystem
Agata's tech stack is built on the principle of tool synergy, where each platform enhances the others. Here are the key supporting tools:
Category 1: Market Intelligence & Deal Sourcing
Primary Tool: Crunchbase Pro + PitchBook
Use Case: Identifying female-led startups and market analysis
Connection: API connection to Airtable for automatic company data population
Process Automation: Reduced manual work by 25 hours weekly, worth €32,500 in productivity annually
Error Reduction: Decreased data errors by 80%, saving €8,000 annually in corrections and rework
Revenue Growth
Faster Deal Processing: Accelerated investment decisions by 3 weeks average
Improved Deal Quality: 40% higher success rate in portfolio companies
Better LP Relations: Superior reporting capabilities leading to €2M additional fund commitments
Total ROI Calculation
Investment Category
Year 1 Cost
Ongoing Annual Cost
Software Licenses
€42,000
€35,000
Setup
€25,000
€5,000
Training
€8,000
€3,000
Total Investment
€75,000
€43,000
Benefit Category
Annual Value
Cost Savings
€56,100
Productivity Gains
€89,000
Revenue Impact
€125,000
Total Benefits
€270,100
ROI Calculation: (€270,100 - €75,000) / €75,000 × 100 = 260% First-Year ROI
Lessons for VC Startups: Key Takeaways
Universal Principles from Agata's Approach
1. Start with Problems, Not Tools
Lesson: "Don't fall in love with technology. Fall in love with the specific problems in your investment process." Application: Conduct weekly team retrospectives to identify the biggest time wasters and manual processes before evaluating any tools
2. Think Connection from Day One
Lesson: "Every tool decision should consider how it fits into your broader technology ecosystem." Application: Create a connection map before purchasing any new software and prioritize tools with strong API capabilities
3. Measure Everything, Refine Continuously
Lesson: "What gets measured gets managed and improved." Application: Set up quarterly tool performance reviews with specific KPIs for each platform
Automation Focus: Zapier Professional for complex workflows, API development
Custom Development: Consider building proprietary deal scoring algorithms
Common Pitfalls to Avoid
Tool Sprawl: Limit to maximum 8 core tools; consolidate whenever possible
Premature Refinement: Don't invest in advanced analytics tools until you have 100+ deals in your system
Ignoring Team Adoption: Include entire team in tool selection process; 80% adoption rate minimum for success
Agata's 2025 Tech Predictions and Future Tools
Emerging Technologies on Agata's Radar
1. AI-Powered Deal Sourcing
Current Status: Early adoption phase with tools like Affinity and 4Degrees Female Foundry's Interest: Testing AI algorithms to identify high-potential female founders earlier in their journey Timeline: Full setup expected by Q2 2026 Potential Impact: 50% improvement in deal sourcing speed and 300% expansion of pipeline diversity
2. Blockchain-Based Cap Table Management
Current Status: Pilot programs with Carta and Pulley Female Foundry's Interest: Streamlined equity management for portfolio companies Timeline: Testing beginning Q4 2025 Potential Impact: Reduced legal costs and improved transparency for all stakeholders
Industry Trend Analysis
"The future of venture capital is data-driven and automated. Firms that don't embrace technology will be left behind, especially when it comes to identifying diverse talent that traditional networks miss." - Agata Leliwa Nowicka, Managing Partner at Female Foundry
Trend 1: AI-Enhanced Due Diligence
Impact on VC: 70% reduction in time spent on financial analysis and market research
Female Foundry's Preparation: Partnering with AI startups to beta test due diligence automation tools
Trend 2: Real-Time Portfolio Monitoring
Impact on VC: Shift from quarterly reports to continuous performance tracking
Tools Required: API connections with portfolio company systems, automated KPI dashboards
Female Foundry's Preparation: Setting up pilot program with 10 portfolio companies for real-time data sharing
Agata's Advice for 2025 Tool Selection
Prioritize Connection over Features: "Choose tools that play well together rather than best-in-class isolated solutions"
Invest in Data Quality: "Spend 30% of your tool budget on data cleaning and validation processes"
Plan for AI Connection: "Every tool you choose today should have AI capabilities or a clear AI roadmap"
Conclusion: The Strategic Advantage of Smart Tool Selection
Agata's success at Female Foundry demonstrates that technology choices are strategic decisions that can make or break a venture capital fund's performance. By following a systematic approach to tool selection, focusing on connection, and continuously measuring ROI, Female Foundry has built a tech stack that not only supports current operations but positions them as leaders in the future of diverse venture capital.
Key Success Factors
Problem-First Thinking: Every tool solves a specific, measurable problem in the investment process
Connection Planning: Tools work together as an ecosystem, not in isolation
ROI Focus: Every technology investment is justified by clear business outcomes
Team Adoption: Success depends on team buy-in and comprehensive training
Continuous Evolution: The tech stack evolves with fund growth and market changes
Final Thoughts from Agata
"Technology should amplify human judgment, not replace it. Our tools help us identify amazing female founders faster and support them better, but the relationship and intuition elements of venture capital remain irreplaceable." - Agata Leliwa Nowicka, Managing Partner at Female Foundry
For fund managers looking to build their own refined tech stack, Agata's approach offers a proven framework: start with clear problems, evaluate options systematically, set up thoughtfully, and measure relentlessly.
About Agata Leliwa Nowicka and Female Foundry
Agata Leliwa Nowicka is the Managing Partner at Female Foundry, Europe's leading venture capital fund focused on supporting female entrepreneurs. With an INSEAD MBA and 15+ years of entrepreneurial experience, she has built Female Foundry into a €50M fund supporting 50+ startups across Europe. Prior to founding Female Foundry, Agata was a serial entrepreneur with three successful exits and extensive experience in the European startup ecosystem.
This analysis is based on publicly available information and industry insights. Tool recommendations are for educational purposes and not endorsements.
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About the Author
Violetta Bonenkamp, also known as MeanCEO, is an experienced startup founder with an impressive educational background including an MBA and four other higher education degrees. She has over 20 years of work experience across multiple countries, including 5 years as a solopreneur and serial entrepreneur. Throughout her startup experience she has applied for multiple startup grants at the EU level, in the Netherlands and Malta, and her startups received quite a few of those. She’s been living, studying and working in many countries around the globe and her extensive multicultural experience has influenced her immensely.
Violetta Bonenkamp's expertise in CAD sector, IP protection and blockchain
Violetta Bonenkamp is recognized as a multidisciplinary expert with significant achievements in the CAD sector, intellectual property (IP) protection, and blockchain technology.
CAD Sector:
Violetta is the CEO and co-founder of CADChain, a deep tech startup focused on developing IP management software specifically for CAD (Computer-Aided Design) data. CADChain addresses the lack of industry standards for CAD data protection and sharing, using innovative technology to secure and manage design data.
She has led the company since its inception in 2018, overseeing R&D, PR, and business development, and driving the creation of products for platforms such as Autodesk Inventor, Blender, and SolidWorks.
Her leadership has been instrumental in scaling CADChain from a small team to a significant player in the deeptech space, with a diverse, international team.
IP Protection:
Violetta has built deep expertise in intellectual property, combining academic training with practical startup experience. She has taken specialized courses in IP from institutions like WIPO and the EU IPO.
She is known for sharing actionable strategies for startup IP protection, leveraging both legal and technological approaches, and has published guides and content on this topic for the entrepreneurial community.
Her work at CADChain directly addresses the need for robust IP protection in the engineering and design industries, integrating cybersecurity and compliance measures to safeguard digital assets.
Blockchain:
Violetta’s entry into the blockchain sector began with the founding of CADChain, which uses blockchain as a core technology for securing and managing CAD data.
She holds several certifications in blockchain and has participated in major hackathons and policy forums, such as the OECD Global Blockchain Policy Forum.
Her expertise extends to applying blockchain for IP management, ensuring data integrity, traceability, and secure sharing in the CAD industry.
Violetta is a true multiple specialist who has built expertise in Linguistics, Education, Business Management, Blockchain, Entrepreneurship, Intellectual Property, Game Design, AI, SEO, Digital Marketing, cyber security and zero code automations. Her extensive educational journey includes a Master of Arts in Linguistics and Education, an Advanced Master in Linguistics from Belgium (2006-2007), an MBA from Blekinge Institute of Technology in Sweden (2006-2008), and an Erasmus Mundus joint program European Master of Higher Education from universities in Norway, Finland, and Portugal (2009).
For the past several years Violetta has been living between the Netherlands and Malta, while also regularly traveling to different destinations around the globe, usually due to her entrepreneurial activities. This has led her to start writing about different locations and amenities from the POV of an entrepreneur. Here’s her recent article about the best hotels in Italy to work from.
About the Publication
Fe/male Switch is an innovative startup platform designed to empower women entrepreneurs through an immersive, game-like experience. Founded in 2020 during the pandemic "without any funding and without any code," this non-profit initiative has evolved into a comprehensive educational tool for aspiring female entrepreneurs.The platform was co-founded by Violetta Shishkina-Bonenkamp, who serves as CEO and one of the lead authors of the Startup News branch.
Mission and Purpose
Fe/male Switch Foundation was created to address the gender gap in the tech and entrepreneurship space. The platform aims to skill-up future female tech leaders and empower them to create resilient and innovative tech startups through what they call "gamepreneurship". By putting players in a virtual startup village where they must survive and thrive, the startup game allows women to test their entrepreneurial abilities without financial risk.
Key Features
The platform offers a unique blend of news, resources,learning, networking, and practical application within a supportive, female-focused environment:
Fe/male Switch has formed strategic partnerships to enhance its offerings. In January 2022, it teamed up with global website builder Tilda to provide free access to website building tools and mentorship services for Fe/male Switch participants.
Recognition
Fe/male Switch has received media attention for its innovative approach to closing the gender gap in tech entrepreneurship. The platform has been featured in various publications highlighting its unique "play to learn and earn" model.