Mother Ventures has closed its inaugural $10 million venture fund aimed at startups serving mothers and families, betting that one of the most influential consumer groups in the U.S. remains significantly underinvested by the venture capital industry.

Founded by Allison Stern, the New York-based firm is positioning itself as the first venture capital fund built entirely around the “mother-as-consumer” thesis. According to the firm, mothers represent approximately 85 million Americans who influence 85% of U.S. household spending, accounting for more than $2.4 trillion in annual purchasing power.

“Moms are the beating heart of the U.S. economy,” Stern said in the announcement. “They make the lion’s share of household purchases and evangelize the products that work.”

The fund has already deployed roughly $4 million across 13 early-stage companies, all of which target mothers or families as their primary customer base. More than 90% of the startups were founded by parents addressing challenges they personally experienced.

Portfolio companies include:

• Coral Care, which connects families with in-home pediatric developmental specialists
• Tin Can, a kid-focused modern landline platform
• Sunfish, a fertility financing and IVF support platform
• FamilyWell, a women’s mental health platform

The firm said its portfolio companies have collectively raised more than $50 million in follow-on financing from investors including Greylock Partners, Accel, AlleyCorp, and Reach Capital.

Among the fund’s backers is Tony James, former president and COO of Blackstone and current chair of Costco Wholesale Corporation, who serves as the fund’s anchor investor.

Before launching Mother Ventures, Stern co-founded Tubular Labs, a social video analytics company later acquired by Chartbeat and Cuadrilla Capital. She also previously served as an operating partner at The Chernin Group, whose investments have included Oura, Barstool Sports, and Lovevery.

The launch comes as venture investors increasingly seek specialized consumer theses and community-driven distribution models, particularly in sectors such as family health, parenting technology, fertility, education, and household services.