Technology startup funding provider Tractor Ventures has moved to an all-women C-suite as Jodie Imam becomes CEO, alongside COO Aprill Enright and CFO Francine Hackett.
Previously co-founder Jodie Imam was co-CEO alongside co-founder Matt Allen – Enright is also a co-founder.
The Melbourne-headquartered alternative finance company for tech-enabled businesses has grown its loan book significantly over the past year as startups explore alternative funding routes beyond venture capital.
Tractor Ventures has distributed 250 loans since 2020, exceeding $70 million in capital disbursed, with an average loan size of around $350,000.
A Tractor Ventures spokesperson described the streamlined leadership structure as a “natural evolution in alignment and accountability” as the company also announced a newly formed senior leadership team, comprised of the C-suite, Allen as head of capital and new markets, plus director of engagement Garry Williams and director of engineering Matty Evans.
The all-women C-suite at Tractor Ventures is a notable standout in a funding industry that has historically struggled to elevate women leaders and equitably fund startups.
“We hope that it opens the door,” said Imam, “so that women entrepreneurs and business leaders feel more comfortable knocking on the door”.
“Women can be concerned that a bloke won’t give them a fair hearing: we hope our leadership team sends a message that we will. Hopefully, it sets a good example for the industry. Women run businesses better, hopefully we lead the way.”
Tractor Ventures aims for an even gender split of 50% in its portfolio of investments as a key aspect of its focus on funding more women in the tech ecosystem.
The alt-funder supports the Equity Clear initiative which aims to provide transparent funding statistics by gender and a commitment towards continual improvement towards imbalances in those statistics.
Together with VCs and family offices, Tractor Ventures is regularly updating gender statistics for its funding, and developing initiatives to ensure that funding can reach many more women founders.
Tractor Ventures said Allen and Imam were moving to their respective “zones of genius” – with Allen focusing on innovation, strategy and growth – in a leadership transition inspired by the management classic Rocket Fuel by Gino Wickman and Mark C Winters, which emphasises the potential for dynamic partnerships between company leaders in driving business success.
“The visionary is responsible for setting the overall direction and long-term goals of the company, focusing on innovation, strategy, and growth,” explained Imam.
“The integrator, on the other hand, executes the visionary’s ideas, ensuring that the vision is implemented effectively and efficiently. This partnership is essential for the organisation’s success and that growth.”
“Rocket Fuel gave us the framework to separate our roles cleanly,” said Allen, “and for me, to stop feeling guilty about all the things I suck at. I have a tattoo on my arm that says ‘what’s next?’ and that pretty much nails the space I need to be in to create the most value for our customers, team and shareholders. I’m excited to get out of Jodie’s way and watch the team thrive with clear management”
Jodie Imam is the sole woman Finalist for Outstanding Fintech Leader of the Year at the upcoming Fintech Australia ‘Finnies’ Awards, with Aprill Enright also a Finalist in the category Female Fintech Leader of the Year.
Disclosure: Tractor Ventures CEO Jodie Imam is a non-executive director of Private Media, which owns SmartCompany.
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Editor-in-chief, SmartCompany
Simon Crerar is editor-in-chief of SmartCo Media. Previously, he was the founding editor and then GM of BuzzFeed Australia. He began his career on Fleet Street as a tech reporter for The Times, and has also worked for the Sydney Morning Herald and News Corp Australia. He is co-founder of *PS Media, a collaborative local news startup, lives on LinkedIn @simoncrerar, and very occasionally tweets/Xs at @simoncrerar.
