Caroline Lewis Get in touch

Managing Partner · Nura Ventures & Rogue Women · Kauffman Fellow

Invest in women.
Rebuild what holds.

Investing in women isn’t only equity work. It’s security work.

$25M+ deployed 40+ women-led companies Fund III raising now
Pitch your startup → Invest in Nura
Caroline Lewis
Caroline LewisManaging Partner
$25M+
Deployed across funds and SPVs
40+
Women-led companies backed
7
Years leading Rogue Women, since Q4 2019
3
Funds founded: Rogue Women I, II and Nura
150+
Scouts, fellows and advisors in the Nura Network

The funds

Two firms. One conviction.

Fund III · Founded 2025

Raising · 2027 deployment

Nura Ventures

Caroline’s newest firm backs early seed-stage, women-led tech companies across the US. The thesis comes from months of research: at the intersection of AI and global conflict, investing in women is key to national and global security.

Stage
Early seed
Focus
Women’s health, care economy, community, workforce, advanced AI, dual-use defense
Network
150+ scouts, fellows and advisors nationwide
nura.vc ↗

Funds I & II · Since 2019

Investing · Portfolio

Rogue Women’s Fund

Born inside Rogue Venture Partners, Rogue Women invests in women-led B2B SaaS, enterprise and B2B2C software. Fund I closed in Q4 2019 and Fund II in Q2 2022. Caroline continues to lead investments and manage the portfolio.

Check
~$500K average, lead or join
Sectors
Women’s health, care economy, experience tech, foundational industries
Model
Founders share in the GP carry
roguewmn.com ↗

The thesis

In every crisis cycle, the invisible infrastructure becomes visible.

CareHealthEducationWorkforce participationFamily economicsCommunity

We are living through stacked shocks: economic uncertainty, institutional mistrust, demographic shifts, climate volatility, AI acceleration and geopolitical stress. When shocks stack, societies want stability, and stability needs a different kind of build.

Care, health, education and family economics are the load-bearing beams. Women founders are building the products and systems that keep societies working through turbulence: maternal health, childcare, eldercare, financial resilience, safer workplaces, AI that represents all of us, and dual-use defense tech that serves communities.

The market still underprices it. Women found 42% of US businesses and receive less than 3% of venture funding. Caroline treats that gap as a structural inefficiency and the opportunity of a generation.

Founder benefit

Childcare

Subsidized care for founders, with last-minute drop-in care covered.

Founder benefit

Executive coaching

A paid leadership coach for every founder in the portfolio.

Founder benefit

Financial coaching

Personal financial wellness, family stipend and estate planning.

Founder benefit

Shared GP carry

Every founder becomes an investor in every other founder.

The path

From the field to the fund.

  1. 2025 – now
    Founding & Managing PartnerNura Ventures

    A third fund for women-led companies, built on the case that investing in women is security work.

  2. 2019 – now
    Managing PartnerRogue Women’s Fund I & II

    Launched Fund I in Q4 2019 and Fund II in Q2 2022. Multiple exits and capital returned to date.

  3. 2022 – now
    Genesis Member, GPACKauffman VC3 DAO

    Part of the Kauffman community’s collective fund and its investment committee.

  4. 2019 – 2022
    Fellow, Class 24Kauffman Fellows

    Mentored by Rogue managing partner Tom Sperry.

  5. 2018 – 2022
    PartnerRogue Venture Partners

    Invested out of Fund IV in seed-stage tech across the US and built the women-led strategy that became Rogue Women.

  6. 2015 – 2018
    Senior Director, Global Strategy & OperationsNike

    Led a team of 30+ and a $500M portfolio of programs across Global Design, Product and Merchandising, focused on consumer experience, digitization and big data.

  7. 2015 – 2016
    DirectorPropeller

    Helped triple a startup consultancy’s headcount and revenue and opened a new city.

  8. 2011 – 2015
    ManagerHitachi Consulting

    Enterprise technology and organizational change for Fortune 100 companies.

  9. Before
    Founder, teacher, athleteWest Virginia · South Korea · Davidson

    Turned a receptionist job into helping found a company. Taught English in South Korea and traveled Southeast Asia for a year. D1 field hockey and behavioral psychology at Davidson College, then an MBA in entrepreneurship at Portland State.

Selected portfolio

Women building enduring companies.

EllevestWealth management built for women CercleAI advancing healthcare for all women Seven StarlingBehavioral health for every stage of motherhood SlumberkinsEmotional wellness for kids and caregivers AllvoicesEmployee relations platform Future FamilyFertility care with a stress-free way to pay SourceConstruction materials procurement AlignAIAI intake and governance for the enterprise

40+ companies across Rogue Women’s Funds I & II. Full portfolio at nura.vc.

Ideas

What she’s watching.

Series · Crisis cycles

Investing in women is security work

Every crisis era asks for shared meaning, working institutions, local resilience and a re-ranking of values. Women founders are building for all four.

Market · Care economy

Care is still massively underpriced

AI is finally bringing efficiency and stability to care just as existing structures collapse. Expect a flood of capital here within five years.

Portfolio · AI & services

Services are the next great venture category

Tech-enabled service companies in the portfolio have gone from roughly 20% to 80%+ margins in two years. The relationship is the moat, and we need a new rubric fast.

Press & speaking

On the record.

Off the clock

Live with purpose. Go all in.

Caroline is a mom of girls, a former Division I athlete and a learner first. She’s honest with anyone about the journey of taking a big risk, and in the last six weeks alone, eleven people wrote to say she inspired them to start a fund or chase their idea.

Hive

Beekeeper

River

Rafting

Mountain

Skiing

Field

D1 field hockey, Davidson ’06

Abroad

Taught English in South Korea

Home

Portland, Oregon

Get in touch

Building something that holds?

Founders

Pitch Nura

Women-led, early seed, US-based, building in health, care, workforce, AI or dual-use defense.

Send your startup →

Limited partners

Invest in Fund III

Nura is raising now for 2027 deployment. Over half of Rogue Women’s LPs are women or women-led institutions.

Learn about Nura ↗

Press & stages

Book Caroline

Keynotes, workshops and podcasts on women in venture, the care economy and building a fund.

Message on LinkedIn ↗
Email mail@caroline-lewis.com